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The small arms market size is forecast to increase by USD 2.60 billion, at a CAGR of 5.21% between 2023 and 2028. The growth rate of the market depends on several factors rising concerns about personal safety and security, increasing demand for small arms from the law enforcement sector, and increasing participation in shooting sports and recreational shooting activities. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
North America, a significant region in the market, experiences robust demand and technological advancements. The driving factors for small arms in the region include a strong culture of gun ownership, influenced by constitutional rights and recreational shooting activities. Adani Group provides small arms, including the light machine gun NEGEV in various calibers, Carbine or Assault Rifle ACE in multiple calibers, Pistol MASADA in 9X19mm, and more. Similarly, Fabbrica dArmi Pietro Beretta S.p.A offers small arms like custom carry limited 9mm, colt government series 70 in .45 ACP with a 7rd magazine, stainless finish, rosewood grips (O1911C SS), wiley clapp LW commander in 9mm, and additional models.
Market Forecast 2023-2027
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Rising concerns about personal safety and security serve as a significant driver in propelling the market forward. In an increasingly uncertain world marked by geopolitical tensions, civil unrest, and instances of terrorism, individuals are seeking ways for protection. Heightened awareness of potential threats, whether real or perceived, prompts many to turn to firearms as a means of self-defense and security. Individuals living in areas with high crime rates and home invasions but limited law enforcement presence often view firearms as a necessary tool for safeguarding their safety.
As a result, there is a surge in demand for small arms, including handguns, rifles, and shotguns, as individuals seek to exercise their right to self-defense and ensure their preparedness for any potential threats. The increasing emphasis on personal empowerment and self-reliance further drives the adoption of small arms for personal protection. As concerns about personal safety and security continue to rise, the demand for small arms is expected to remain strong, driving the market during the forecast period.
The increasing popularity of modular firearms platforms is a prominent trend in the market. Modular firearms offer users the ability to customize and adapt their firearms to meet specific needs and preferences, making them highly versatile and practical. These platforms typically feature interchangeable components such as grips, stocks, barrels, and handguards, allowing users to configure their firearms for different purposes, environments, and shooting styles. One key advantage of modular firearms is their adaptability to various roles and missions, including hunting, sport shooting, self-defense, and tactical applications.
Further, the modular design of these firearms facilitates ease of maintenance, repair, and upgrades, reducing downtime and overall lifecycle costs. As a result, modular firearms platforms have gained traction in the market, with many manufacturers offering modular options across their product lines. This trend towards modularity reflects the growing demand for customizable and adaptable firearms solutions which is expected to propel the development of the market during the forecast period.
Strict regulatory frameworks and licensing requirements pose significant challenges for the market. Governments worldwide impose stringent regulations on the manufacture, sale, ownership, and use of firearms to mitigate the risks associated with their misuse, including crime, violence, and public safety concerns. These regulations often include background checks, waiting periods, and licensing requirements for individuals purchasing firearms. Additionally, manufacturers and distributors must comply with complex licensing, registration, and export control regulations, which vary from country to country.
Furthermore, changes in regulations and policies can impact the dynamics and create uncertainty for industry stakeholders, negatively affecting investment decisions and expansion strategies. Despite efforts to strike a balance between public safety and individual rights, navigating the intricate regulatory frameworks remains a significant challenge. Therefore, the demand of the market may be hampered during the forecast period.
The civil and commercial segment is estimated to witness significant demand during the forecast period. Civil end-users of small arms include individuals and non-governmental entities who use firearms for personal protection, recreational shooting, hunting, and sport shooting activities. Civilian small arms purchases are often regulated by government authorities to ensure safety and prevent misuse.
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The civil and commercial segment was the largest and was valued at USD 5.72 billion in 2018. Commercial end-users of small arms encompass businesses, security firms, private security contractors, and shooting ranges that utilize firearms for commercial purposes. Commercial small arms purchases often involve bulk orders, contracts, and procurement processes governed by regulations and standards specific to the commercial sector. Glock, a prominent player, supplies handguns widely used by law enforcement and security agencies worldwide. Therefore, factors such as increasing security concerns, rising demand for personal protection, and expanding recreational shooting activities are expected to drive the segment during the forecast period.
Based on the type, the market has been segmented into rifle, pistol, short gun and others. The rifle?segment will account for the largest share of this segment.?Bolt-action rifles are renowned for their precision and reliability, making them popular choices for hunting and long-range shooting enthusiasts. Semi-automatic rifles offer rapid-fire capabilities and versatility, catering to hunting, sport shooting, and self-defense needs. Assault rifles, equipped with selective-fire capabilities, are primarily utilized by military forces for combat operations. Sporting rifles, available in lever-action, pump-action, and single-shot configurations, are tailored for recreational shooting and hunting activities. The factors that drive the demand for rifles include growing concerns about security, the need to protect oneself and one's property, and the expansion of recreational shooting activities. Hence, such factors are anticipated to fuel the market during the forecast period.
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North America is estimated to contribute 34% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In North America, the United States, in particular, accounts for a substantial portion of small arms production and consumption in the region. Additionally, concerns about personal safety and self-defense contribute to the demand for small arms in the region. Military and law enforcement agencies in North America also play a significant role in driving through procurement contracts and modernization initiatives for small arms. One prominent player in the North American market is Colts Manufacturing Company, LLC. Colt has a long-standing history of producing firearms, including rifles, handguns, and machine guns, catering to both civilian and military markets. Colts products are widely used by military and law enforcement agencies in North America, as well as by civilian shooters and enthusiasts.
In addition, the increasing popularity of modular firearms platforms, allowing for customization and versatility among civilian shooters and military personnel, drives the regional market. Moreover, there is a growing interest in compact and concealable firearms for personal protection, reflecting changing trends in customer inclinations and laws about carrying small arms. Additionally, advancements in firearm technology, such as improved optics, enhanced ergonomics, and reduced weight, are driving innovation in the North American market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
EDGE Group PJSC - The company offers small arms such as Beretta 80X cheetah green edition, B link, B lok, Aqua tech shield, DLC, Steelium, Optimabore HP, Microcore, Extraligth, B safe, and more.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Adani Group, AmmoTerra, ARSENAL JSCo, Fabbrica dArmi Pietro Beretta S.p.A., Colt Manufacturing Co, LLC., EDGE Group PJSC, G Lock Perfection, Heckler and Koch Inc., Herstal SA, HS Produkt, Indian Ordnance Factories, Israel Defence, Kalyani Strategic Systems Ltd., Kongsberg Gruppen ASA, MOD Crown, Shaw Barrels, SIG Sauer Inc., Smith and Wesson Brands, Inc., Stumpp Schuele and Somappa Springs Pvt. Ltd., and Sturm Ruger and Co. Inc.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest market trends and growth opportunities from 2018 to 2028.
The Small Arms Market is driven by significant investments in the development of diverse weaponry, including ammunition, revolvers, and sniper rifles. Research and development (R&D) activities focus on enhancing the mobility and lethality of small arms, catering to the needs of armed forces amidst territorial conflicts, political unrest, and general armed conflicts. Compliance with legal regulations, including economic and political aspects, is crucial, involving considerations such as possession, serialization, and import-export controls. It also addresses technology transfers, adhering to anti-corruption laws, and ensuring standardization.
In addition, ongoing modernization programs emphasize the importance of lightweight designs for improved combat performance. It covers a broad spectrum, from the 5.56mm caliber segment to specialized weaponry like snipers, recoilless rifles, and modern sporting rifles. Additionally, efforts are made to mitigate the proliferation of illicitly manufactured small arms through effective regulations and control measures, ensuring responsible use in various contexts, such as shoot-to-kill or shoot-to-injure scenarios.
Industry Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.21% |
Market growth 2024-2028 |
USD 2.60 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.75 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adani Group, AmmoTerra, ARSENAL JSCo, Fabbrica dArmi Pietro Beretta S.p.A., Colt Manufacturing Co, LLC., EDGE Group PJSC, G Lock Perfection, Heckler and Koch Inc., Herstal SA, HS Produkt, Indian Ordnance Factories, Israel Defence, Kalyani Strategic Systems Ltd., Kongsberg Gruppen ASA, MOD Crown, Shaw Barrels, SIG Sauer Inc., Smith and Wesson Brands, Inc., Stumpp Schuele and Somappa Springs Pvt. Ltd., and Sturm Ruger and Co. Inc. |
Market dynamics |
Parent market, Market growth inducers and obstacles, Fast-growing and slow-growing segment, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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