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The shoulder-fired weapons market share is expected to increase by USD 3.42 billion from 2021 to 2026, at a CAGR of 8.16%.
This shoulder-fired weapons market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers shoulder-fired weapons market segmentations by technology (unguided and guided), product (ammunition and launcher), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The shoulder-fired weapons market report also offers information on several market vendors, including AirTronic USA LLC, BAE Systems Plc, Bharat Dynamics Ltd., China North Industries Group Co. Ltd., General Dynamics Corp., KBP Instrument Design Bureau, KONSTRUKTORSKOYE BYURO MASHYNOSTROYENIYA, LIG Nex1Co. Ltd., Lockheed Martin Corp., Machinery and Chemical Industry Inc., MBDA, Nammo AS, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corp., Rheinmetall AG, Saab AB, SIATT, Thales Group, and Roketsan AS among others.
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The demand for new generation anti-armor and anti-aircraft protection is notably driving the shoulder-fired weapons market growth, although factors such as evolving global crisis affecting market prospects may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the shoulder-fired weapons industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Shoulder-Fired Weapons Market Driver
The demand for new generation anti-armor and anti-aircraft protection is one of the key drivers supporting the shoulder-fired weapons market growth. For instance, India is a country focusing on the development of SHORAD missile systems. To tackle insurgencies in densely populated environments, the Army intends to procure around 2,500 third-generation shoulder-fired ATGMs and 96 launchers. The procurement is expected to be facilitated through an intergovernmental contract. In November 2018, the Indian Army selected the IGLA-S missile system as its preferred weapon of choice for the multi-billion VSHORAD program after considering multiple weapon systems, such as the Israeli Spike ATGM and the FGM-148 Javelin. Such developments are expected to drive the market during the forecast period.
Key Shoulder-Fired Weapons Market Trend
The development of recoilless artillery is one of the key shoulder-fired weapons market trends. The recoilless artillery is basically an open tube in which the reaction gases, released on firing the warhead, are expelled from the back of the weapon, with an equal momentum to that of the projectile, thus compensating the force exerted on the projectile. This provides for the elimination of heavy and bulky recoil-counteracting equipment of a conventional cannon and a thinner-walled barrel. Hence, it allows the launch of a relatively large projectile from a platform, which would otherwise be incapable of handling the weight or recoil of a conventional gun of the same size. Such advantages will boost the market growth during the forecast period.
Key Shoulder-Fired Weapons Market Challenge
The evolving global crisis affecting market prospects is one of the factors hindering the shoulder-fired weapons market growth. A modern shoulder-fired weapon is the culmination of years of RD activities conducted on a component-level basis. To deliver the best results, such development activities are carried out for an extended period and include several hours of rigorous testing and documentation before commercially releasing a new variant of armored vehicles. Hence, the cost of new technology, especially new concepts, is expected to be high and economically unfeasible and ineffective unless mass adoption of such technologies takes place. Thus, global economic slowdown limits the procurement prospects for arms such as shoulder-fired weapons, which may adversely affect the global shoulder-fired weapons market during the forecast period.
This shoulder-fired weapons market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global shoulder-fired weapons market as a part of the global aerospace & defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the shoulder-fired weapons market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the shoulder-fired weapons market encompasses successful business strategies deployed by the key vendors. The shoulder-fired weapons market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The shoulder-fired weapons market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the shoulder-fired weapons market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from North America during the forecast period. The US is the key market for shoulder-fired weapons market in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.
The procurement of advanced weapon systems will facilitate the shoulder-fired weapons market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The negative economic impact of the COVID-19 pandemic could see some countries in North America reassessing their shoulder-fired weapons orders and imports. However, at the same time, even at the height of the pandemic in 2020, several countries signed large contracts for major arms deals, which increased the demand for shoulder-fired weapons in the region, and it is expected to continue during the forecast period.
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The shoulder-fired weapons market share growth by the unguided segment will be significant during the forecast period. The unguided shoulder-fired weapons are mostly used on battlefields. These systems are more prone to be used for short-distance engagements due to their precision constraints pertaining to human factors. They are generally employed to disable armored vehicles and neutralize certain threats, such as enemy personnel hiding inside a hardened structure such as a building. Such beneficial attributes of unguided shoulder-fired weapons will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the shoulder-fired weapons market size and actionable market insights on post COVID-19 impact on each segment.
North America Shoulder-fired Weapons Market - The market in North America to grow at a CAGR of 0.82 percent over the period 2014-2019.
Shoulder-Fired Weapons Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 8.16% |
Market growth 2022-2026 |
$ 3.42 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.83 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, India, Russia, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AirTronic USA LLC, BAE Systems Plc, Bharat Dynamics Ltd., China North Industries Group Co. Ltd., General Dynamics Corp., KBP Instrument Design Bureau, KONSTRUKTORSKOYE BYURO MASHYNOSTROYENIYA, LIG Nex1Co. Ltd., Lockheed Martin Corp., Machinery and Chemical Industry Inc., MBDA, Nammo AS, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corp., Rheinmetall AG, Saab AB, SIATT, Thales Group, and Roketsan AS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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 Five Forces Analysis
5 Market Segmentation by Technology
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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