Small Arms Market

Small Arms Market Size

The Small Arms market size was USD 8.44 billion in 2021 and projected to grow from USD 9.1 billion in 2023 to USD 12.9 billion by 2032, exhibiting a CAGR of 3.9% during the forecast period.

Small arms are referred as guns or firearms and are portable harmful weapons for individual use. They can launch a bullet, shot, or missiles by action of explosive. They include revolvers, self-loading pistols and long guns called as rifles and carbines, sub-machine guns, assault rifles, & light machine guns, along with their components & parts. Replicas & Antiques are generally excluded.

Market Highlights

Small Arms Market is expected to project a CAGR of 3.9% during the forecast period, 2022-2032

The small arms Market is expected to reach USD 12.9 billion at a CAGR of 3.9% during forecast period owing to the rising interest from defense, military, hunting, paramilitary, security, sports activities and law enforcement agencies throughout the world. Small arms are viewed as the non-state entertainer gatherings.  The material used for manufacturing these firearms is steel along with wood for some parts. During the projected period, increased terrorist activities, armed conflicts, and cross-border conflicts are expected to fuel market expansion. An increase in activities related to hunting and shooting ranges will help the market to grow. The interest towards innovation in the weaponry industry is increasing owing to the arms manufacturers to modernize their weapons and to design them using lighter materials which are harder to damage. 

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Small Arms Market Segmentation:

Pistol, Revolver segment is expected to grow with high CAGR during the forecast period

Small Arms Market is classified based on the Type into Pistol, Revolver, Rifles, Shotgun, Machine Gun, Others. Pistol, Revolver segment dominated the market in 2021 and is also expected to grow during the forecast period owing to the increasing necessity of pistols and revolvers for personal safety, shooting sports activities, hunting etc. Handguns include both pistols and revolvers. The rising safety concerns due to cross-border conflicts, political issues, and other factors would increase the growth of this segment.

Defense & Homeland Security segment is expected to grow during forecast period

Small Arms Market is classified based on the End-Use into defense & homeland security, self-defense, sports, hunting, and law enforcement. Defense & homeland security segment is expected to grow with high market share during the forecast period owing to the modernization plans of military and increases in defense expenditure. Rising cross-border conflicts, terrorism resulted in modernization of defense by procuring new weapons which is expected to drive the market growth.

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Market Dynamics:                                                    

Growth Drivers

Increasing Demand for Weapons is Expected to Boost the Growth of the Market

The demand for sports related weapons is increasing which are not harmful like rifle, shotgun & pistol. These sports activities are rising due to the competitive and recreational purposes. The difference in technology makes the guns different from using as sports related or as lethal. Sports guns weigh lighter & are comfortable to use. The increase in participation in various shooting sports is leading to the growth of the small arms market.

Rising Conflicts May Boost the Market Growth

The world is witnessing an increase in conflicts and wars pertaining to various issues. Increasing terrorist activities and conflicts are expected to increase the demand for weapons leading to growth of the market. Several nations across the world are preferring to buy arms to counter terrorism & prevent anti-national activities. Citizens in few nations are carrying guns for their self-defense which is expected to propel growth of the global small arms market during the forecast period. 

Restraint

Non- Compliance with Regulations May Hamper Market Growth

The evolution of small arms market is opposed by variations in rules between countries like Import-export controls, anti-corruption laws, technology transfers which are influenced by economic, political & legal considerations. Not adhering with the standards may impact activities resulting in decrease of market revenue.

Recent Developments:

• In January 2022, Smith & Wesson revealed new micro 9mm CSX pistol & Volunteer line of AR-style rifles with few legacy firearms.
• In August 2021, Russia’s Kalashnikov Group revealed its latest PPK-20 9 mm submachine gun (SMG) & AK-203 7.62 mm assault rifle

Small Arms Market_Key Players Covered:

• Accuracy International Ltd.
• Arsenal 2000 JSCo.
• Beretta Holding S.p.A.
• Ceská zbrojovka a.s.
• Colt's Manufacturing Company, LLC
• SIG Sauer GmbH & Co. KG
• Israel Weapon Industries (IWI) Ltd.
• Heckler & Koch GmbH

• Daniel Defense LLC
• Sturm, Ruger & Company, Inc.
• FN Herstal
• Glock Ges.m.b.H.
• Steyr Arms GmbH
• Smith & Wesson Brands, Inc
• Kalashnikov Group
• Other Prominent Players

(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Small Arms Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America held the largest market share in 2021, owing to the increased demand from the countries in this region and increased spending on procurement of new small arms. Increasing sporting and hunting activities by the people in this region and the presence of key market players of Small Arms in this region is estimated to grow the market share in the region. The demand for small arms in the region is increasing due to the procurement of weapons by people for their self- protection purpose will drive the market growth.

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Impact of Covid-19 on Small Arms Market

Due to the severe impact of widespread of COVID-19, Small Arms Market experienced a decline in the supply for sports applications as there were no recreational activities due to the lockdown and social distancing restrictions. The disruptions in manufacturing and supply chains had impacted all the markets leading to downfall of the economy. Most of small arms manufacturing industries have been shut down, leading to the negative impact on the growth of market.

Small Arms Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Small Arms Market report also contains analysis on:

Small Arms Market Segments:

• By Caliber

• 9mm
• 5.56mm
• 7.62mm
• 12.7mm
• 14.5mm
• Others

• By Type

• Pistol
• Revolver
• Rifles
• Shotgun
• Machine Gun
• Others

• By Cutting Type

• Smooth Bore
• Threaded/Rifles

• By Firing System

• Gas-Operated
• Recoil-Operated
• Manual

• By Technology

• Guided
• Unguided

• By Action

• Semi-automatic
• Automatic

• By End-Use

• Defense and Homeland Security
• Self-Defense
• Sports
• Hunting
• Law Enforcement

• Small Arms Market Dynamics
• Small Arms Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Small Arms Market Report Scope and Segmentation

Frequently Asked Questions (FAQ):