Global Small Arms Market Research 2022
- Id : RNR-53870
- Category : Defence Aeronautics
- Publish Date : 2016
- Pages : 0
- Format : PDF
With the nature of conventional warfare evolving along with the realities of everyday life, countries allocate enormous budgetary resources to secure their national security interests. This includes increased expenditure in the up-gradation of the armed forces and law enforcement agencies. Small arms being the basic weapon of law enforcement, forms the core of the military modernization efforts. These weapons are capable of firing a projectile with the entire system manned by an individual. Globally, small arms market includes manufacturing and utilization of firearms meant for civilian self-defense, military, law enforcement and hunting and shooting sports. The small arms market comprises of various types’ of arms, mainly handguns, rifles, shotguns among others (custom small arms). In advanced economies like that of North America and Europe, there has been a steady growth in the demand for hunting and shooting sports especially by teenagers and millennial driven crowd, fueled by their new found interests for adventurism and recreation. Factors such as increasing incidents of urban terrorism, fragile law and order situation and social violence are also some of the key factors driving the demand for small arms. Global small arms market is a well-established industry with a few reputed players. But with the waning geopolitical situation fraught with sectarian wars in the Middle East, political instability and local armed insurgencies, the demand for small arms is set to grow rapidly in the coming years. The global small arms market is expected to reach $5695.86 million by 2022. Increasing participation in hunting and shooting sports, rising demand for self-defense and law enforcement are some of the key drivers of the global small arms market. Product launches and acquisitions are some of the strategies which are being adopted by the key market players to maintain their dominance in the global small arms market. The global small arms market is segmented based on gun type, cutting type, by operation and on use across different applications. Based on the type of cutting, small arms are classified into rifled and smooth bore. Rifled bore small arms have internal grooving while smooth bore small arms lack internal grooving. There are three types of small arms based operation viz. automatic, semi-automatic and manual small arms. The demand for semiautomatic small arms is expected to show high growth during the forecast period on account of an increased demand for commercial firearms. Factors like rise in social violence in parts of Europe with the inflow of immigrants from the Middle East will create a demand for self-defense and law enforcement small arms. Small arms finds its use across different applications viz. military, law enforcement, civilian self-defense and hunting and shooting sports. Hunting and shooting sports have the biggest market followed by military small arms. The demand for small arms based on different applications comes from different geographies, hence the global small arms market is segmented, based on geographies viz. North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is the largest market for small arms followed by Europe and Asia Pacific. It accounts for more than 50% of the global small arms market. Evolving geopolitical conflicts and aggravating regional disputes in the Asia-Pacific region is anticipated to influence regional powers to spend in an excess on military modernization, making it the fastest growing market for small arms. Small arms are the fundamental weapons of war and are also used for recreational purposes. Technically, “small arms” is a term which refers to the use of firearms for military purpose but when the same is used for recreational activities like hunting and shooting, it is termed as “firearms”. With the changing dynamics of geopolitics, there has been a visible shift in the behavior of nation states using military forces as an instrument for their national security policy. Hence they use them to deal with both the domestic as well as international security requirements. Apart from that, the protracted political and sectarian upheavals in the Middle East has led to mass immigration to the European states thereby creating law and order complications in the region. These developments as a whole will create demand for the small arms as it influences sovereign nations to modernize their military and law enforcement agencies. The report titled “Global Small Arms Market” provides an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the small arms market. Key regulatory bodies have also been considered in the report because of the compliance requirements with drug safety regulations. Moreover market share analysis have been included in the report. Political, Economic, Social, Technological and Legal (PESTEL) analysis has also been examined for a deeper understanding of the nature of competition prevailing in the market. • This report identifies the global small arms market in different segments such as gun type, cutting type, operation type, application and geography • The market size of the sub segments of the above mentioned divisions is also included in the report • The study includes the market analysis and forecast of global small arms market from 2015 to 2022 in terms of value. The report also highlights the year-on-year growth of the market • It examines the political, economic, social, legal and technological factors affecting the growth of the market along with the key trends in the global small arms market • It also presents a detailed examination of small arms market along the lines of market drivers, restraints and growth opportunities. • A detailed competitive analysis has been included in this report which focuses on the key market developments & strategies followed by the key players in the market. • Global small arms market analysis and forecast with respect to various cutting types includes rifled and smooth bore small arms • Global small arms market analysis and forecast with respect to operations includes automatic, semi-automatic and manual small arms • In this report, the market is segmented on the basis of application including hunting and shooting sports, military, law enforcement and civilian self-defense market ? Small arms market has been analyzed for all geographies including North America, Europe, Latin America, Middle East, Asia-Pacific, and Africa with further analysis in respect to several major countries • Several ongoing programs for advancement of small arms are included in this report • The key market players are analyzed and profiled in detail in the report. This section covers the business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.