According to the latest report by IMARC Group, titled “Small Arms Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global small arms market grew at a CAGR of around 5% during 2015-2020. Small arms, also known as guns or firearms, are lethal weapons that fire a projectile by explosive action. They include self-loading pistols, carbines, sub-machine guns, assault rifles and light machine guns. Small arms play a crucial role in warlike situations and militia activities. These weapons are also highly utilized in areas with political instability, civil war and long-drawn armed conflicts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Small Arms Market Trends:
Over the years, the rising cases of burglaries and house break-ins have increased the concerns for personal safety among house owners. Due to this, individuals are opting for small arms for self-defense and safety purposes. Furthermore, the increasing threat to cross-border security and rising terrorist activities across the globe have also contributed to the market growth. As a result, the military and defense sectors are adopting more advanced arms and ammunition. Furthermore, the growing participation of individuals in hunting and shooting has escalated the demand for lightweight, high precision and compact weapons. Besides this, governments of various nations are extensively investing in advanced weapons to ensure an adequate supply of sophisticated weapons for the police force to combat the rising crime rates. Looking forward, the market is projected to exhibit moderate growth during the forecast period (2021-2026).
- Based on the type, the market has been segmented into pistols, revolvers, rifles, machineguns and others.
- On the basis of the application, the market has been classified into military, law enforcement and others.
- The market has been categorized based on the caliber into 5.56 mm, 7.62 mm, 9 mm and others.
- On the basis of the technology, the market has been bifurcated into guided and unguided.
- Based on the cutting type, the market has been segregated into rifled and smoothed bores.
- The market has been classified based on the operation into automatic, semi-automatic and manual.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Beretta Holding S.P.A, Colt’s Manufacturing Company LLC, Glock Ges.m.b.H., Fabbrica d'Armi Pietro Beretta S.p.A., Heckler & Koch GmbH, Herstal SA, Israeli Weapon Industries, Remington Arms Company LLC, Smith & Wesson Holding Corporation and Sturm, Ruger & Company Inc.
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