Small arms and Light Weapons Market is expected to grow with a CAGR of XX% during the forecast period of 2018 to 2025.
Small arms and Light Weapons (SALW) refers to two different categories of weapons. Small arms refer to the weapons designed solely for individual use whereas, light weapons include arms designed to be used by a crew of two or three persons. The market is projected to grow impressively owing to various factors. There are an estimated 875 million small arms in circulation worldwide, produced by more than 1,000 companies from nearly 100 countries.
Small arms and Light Weapons Market Determinants
A rapid increase in the urban warfare and personal safety has emerged out as the prime factor driving the growth of SALW market. Further, modernization of the police force and increasing applications of SALW as an effective measure for drug trafficking is also supposed to stimulate the market growth. For example, in 2013, the government of Philippines in an attempt to modernize its local police, announced the procurement of a total of 74,879 modern side arms and 30,253 basic rifles which will be issued to rural frontline units nationwide. Issues related to defense budgets and impact of firearm legislations might hinder the market growth.
Global SALW market is segmented on the basis of type, application, and region. By type it is bifurcated as small arms and light weapons. By application it is categorized as military, law enforcement, and others. Geographically, the global SALW market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Civilian use of firearm is expected to drive the market growth. For an instance, most of the world's 875 million small firearms are in civilian hands, which are approximately 650 million.
Global SALW market is highly competitive, owing to presence of numerous players. The market has witness several mergers and acquisitions in the past. Collaboration and R&D are anticipated to emerge out as the most adopted market strategy within the industry.
Top players of the market are Beretta S.p.A., Browning Arms Company, Carl Walther GmbH, Colt's Manufacturing Company LLC, FN Herstal, S.A., General Dynamics Corporation, Glock Ges. m.b.H., Heckler & Koch GmBH, Lockheed Martin Corporation, SIG SAUER GmbH & Co., and Sturm, Ruger & Company, Inc.
Small arms and Light Weapons Market Segmentation
• Small Arms
o Man-portable machine guns
• Light Weapons
o Grenade Launchers
o Rocket Launchers
o Rocket Propelled Grenades (RPGs)
o Anti-Tank Weapons
o Anti-Aircraft Weapons
• Law Enforcement
Small arms and Light Weapons Market By Geography
• North America
• Rest of the World
Key Market Players
• Beretta S.p.A.
• Browning Arms Company
• Carl Walther GmbH
• Colt's Manufacturing Company LLC
• FN Herstal, S.A.
• General Dynamics Corporation
• Glock Ges. m.b.H.
• Heckler & Koch GmBH
• Lockheed Martin Corporation
• SIG SAUER GmbH & Co.
• Sturm, Ruger & Company, Inc.