Small Arms Market Business Opportunities and Forecast 2025
The global small arms market is a growing market that has been witnessing the production of increased number of firearms over the years for various end users including civilian, military and others. The market has experienced a major transformation in the development and manufacture of small arms by different countries. The small arms industry has witnessed the development of different gun types for both commercial and military applications. Globally, some of the major applications in which different small arms find maximum usage include civilian (self-defense); military/armed forces, homeland security/law enforcement and government agencies; and hunting, shooting & sports activities. The global small arms market is expected to witness a substantial growth over the forecast period 2020-2025.
Increasing political tensions around the world has led to the adoption of various new technologies by countries with an aim of strengthening national security. To defend the nation from external threats, countries over the years, have strengthened their army’s capabilities. Moreover, the increasing land disputes across the borders have compelled the nations to strengthen their armed forces by importing and developing weapons. Moreover, increase in crime rate has given rise to increase in small arms procurement in civilians for self-defense. Since the 13th century, firearms have undergone a massive transformation with respect to design and operation.
Arms are one of the most important requirements for defense forces, including the Army, Navy, and the Air Force. Firearms include handguns (pistols and revolvers) and long guns such as rifles, shotguns, assault rifles, submachine guns, carbines, personal defense weapons, and light machine guns, and all these products are based on different technologies and made out of various raw materials. A wide range of firearms has been adopted by the defense forces of various nations such as the U.S., Russia, the U.K., India, and China, among others in order to protect their countries in situations such as wars, conflicts, and terrorist activities.
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Major small firearms that find extensive use in small arms industry include handguns which cover both pistols and revolvers, rifles, shotguns, and other miscellaneous firearms such as pistol grip firearms, starter guns, firearm frames and receivers. In terms of market value, the handguns market is the most dominating product followed by the rifles, other small arms and shotguns.
The small arms market has witnessed different market dynamics across various regions of the globe. The market has witnessed rising demand from countries such as Russia, India, China, Italy, and the U.S., among others. The following figure represents the global small arms market by region. It includes North America, Europe, Asia-Pacific, and the Rest-of-the-World.