Rifles Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global rifles market size reached around USD 5.86 Billion in 2024. The market is projected to grow at a CAGR of 4.70% between 2025 and 2034 to reach nearly USD 9.28 Billion by 2034.

Global Rifles Market Growth

In 2023, global military expenditure soared to USD 2.44 trillion, recording a year-on-year growth of 6.8%, which was the highest since 2009. The world military burden rose to 2.3% in 2023 and average military expenditure by most governments increased by 0.4 percentage points to 6.9% in 2023. As per market analysis, average military spending per person has increased to USD 306, which is the highest since 1990. This is expected to lead to the rifles market expansion in the upcoming years.

In 2023, military expenditure constituted a share of 2.3% of the global GDP. China, Russia, the United States, India, and Saudi Arabia were the leading countries that spent a substantial portion of their budget on enhancing self-defence capabilities. The ongoing Russia-Ukraine conflict, apart from increasing geopolitical tensions in the Middle East and Oceania region, have been the drivers for the rifles market development. In 2023, the United States and China spent around USD 916 billion and USD 296 billion, respectively, on enhancing their military capabilities, while Russia increased spending by 24% year-on-year to USD 109 billion. This is expected to favourably influence the market dynamics over the forecast period.

Key Trends and Developments

Increasing demand for modular firearms; improvements in ammunition technology; soaring appeal of compact handguns; and a shift towards smart firearms are the major factors favouring the rifles market value

September 2024

By the end of 2025, Heckler & Koch is expected to supply 500 units of G210 MR308A6 sniper rifles to the German Army based on a mutual contract agreement. This gas-operated weapon weighs 4.4 kilograms and has improved handling features.

August 2024

FN America, LLC expanded its strategic manufacturing and licensing partnership with ammunition manufacturer TV Ammo, Inc. to produce True Velocity’s .338 Norma Lightweight Medium Machine Gun for the United States and its allied military units.

April 2024

The German government simplified its licensing requirements for small firearms manufacturers to sell their products to India. This is expected to boost the rifles market revenue in the coming years.

April 2024

Israeli Weapon Industries introduced Arbel, a new “computerised small arms system”, which can be mounted on different weapons to shoot the target at the appropriate time, by detecting the shooter’s movement and trigger status.

Increasing demand for modular firearms

Modular firearms enable users to customise their weapons for different purposes and have gained rising appeal among consumers. Their interchangeable components enhance ease of use, which is further expected to favourably impact the rifles market growth in the coming years.

Improvements in ammunition technology

The continuous focus on ammunition companies to improve terminal ballistics, reduce recoil, and increase overall performance is expected to impact rifle sales in the long run. The introduction of innovative materials and designs and specialised ammunition options for unique shooting needs (from competition to self-defence) is also expected to lead to the market growth.

Soaring appeal for compact handguns

There is a growing appeal of compact handguns amid the increasing demand for concealed carry and personal defence items which balance size and firepower. The burgeoning demand for Glock 43x and IWI Masada Slim are also expected to sustain the rifles market development due to their ease of concealment in the upcoming years.

Shift towards smart firearms

Smart firearms incorporating RFID technology and biometric security features are expected to gain market traction, as they increase users’ safety and control over weapons.

Global Rifles Market Trends

In the upcoming years, the demand for modular firearms is expected to rise steadily, due to their adaptability and versatility. Modern firearms are suitable for various mission requirements and roles and are particularly valuable in civilian and law enforcement markets. This is increasing the rifles market size. By enabling easy repairs and upgrades to rifles, modular firearms can extend product lifespan and performance and improve ergonomics. They can also be customised as per individual user requirements easily.

Global Rifles Industry Segmentation

The report titled “Global Rifles Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Type

• Assault Rifles
• Light Machine Guns
• Designated Marksman Rifles
• General-Purpose Machine Guns

Breakup by Firing Type

• Non-Automatic
• Semi-Automatic
• Automatic

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Rifles Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the market for rifles in the Asia Pacific is estimated to grow at a CAGR of 5.5%, thereby favourably shaping the rifles market dynamics. This can be attributed to increasing government investments in bolstering their self-defence capabilities, including Taiwan, India, China, South Korea, and Japan. Moreover, the increasing demand for customised and technologically advanced rifles is also expected to facilitate the market growth in the upcoming years.

Leading Companies in the Global Rifles Market

Major players are producing smart rifles that can be customised as per individual requirements, which is contributing to the rifles market expansion.

Heckler & Koch GmbH

Heckler & Koch GmbH was founded in 1949 and is headquartered in Baden-Württemberg, Germany. It is a leading European manufacturer of defence-related and space products, and serves the security forces of NATO, the UK, and France, among other associations and countries.

FN America, LLC

FN America, LLC was founded in 1980 and is headquartered in Virginia, United States. It is a part of the FN Herstal, S.A., a leading producer of high-quality military equipment, and specialises in the production of gun barrels.

Kalashnikov Group

Kalashnikov Group was founded in 1807 and is headquartered in Izhevsk, Russia. It accounts for 95% of all small arms production in Russia and exports them to over 27 countries.

Colt’s Manufacturing Company LLC

Colt’s Manufacturing Company LLC was founded in 1836 and is headquartered in Connecticut, United States. It is renowned as one of the world’s leading gun manufacturers and supplies its products for civilian, military, and various law enforcement agencies globally.

Other players included in the rifles market report are Israel Weapon Industries (IWI) Ltd., O. F. Mossberg & Sons, Inc., Browning, James Purdey & Sons, Ltd., WW Greener (Sporting Guns) Limited, and RemArms LLC, among others.