Global Small Arms Market to Reach US$ 15.7 Billion by 2032, Fueled by Rise in Geopolitical Issues

July 25, 2023 | Aerospace and Defense

According to the latest report by IMARC Group, titled “­­Small Arms Market Report by Type (Pistol, Revolver, Rifle, Machinegun, and Others), Application (Military, Law Enforcement, and Others), Caliber (5.56 mm, 7.62 mm, 9 mm, and Others), Technology (Guided, Unguided), Cutting Type (Rifled, Smoothed Bore), Operation (Automatic, Semi-automatic, Manual), and Region 2024-2032,” the global small arms market size reached US$ 10.1 Billion in 2023. Small arms refer to a range of compact, lethal weaponry meant for individual use or operation by a small team. These typically include handguns such as pistols and revolvers, long guns like rifles, carbines, and shotguns, as well as other handheld weapons, including grenades and landmines. They often consist of accessories, such as optical sights, cleaning gear, under-barrel grenade launchers, and sound suppressors, that enhance their overall performance and utility. Small arms are comparatively affordable, portable, and easier to use. As a result, they are extensively used by military forces, law enforcement agencies, and civilians for self-protection, hunting, sport shooting, and warding off threats from predators or thieves.

Global Small Arms Market Trends:

The global small arms market is mainly driven by escalating cross-border tensions and conflicts, leading to increased defense spending and military modernization programs by nations. Besides this, the surge in terrorist activities and the growing need for personal security, particularly in areas marred by high crime rates and political instability, are fueling the demand for small arms for self-defense. Moreover, the advent of new, technologically advanced weaponry for enhanced security and defense is creating a favorable outlook for market expansion. In addition to this, the surge in crime rates and civil unrest in various regions is necessitating the need for effective self-defense solutions and thereby boosting the product need among civilians. Concurrent with this, the growing consumer demand for customized firearms tailored to their unique needs, along with the rising popularity of recreational activities such as sport shooting and hunting activities, are propelling the market growth. Furthermore, the emergence of 3D-printed small arms that offer benefits, such as reduced manufacturing costs, customization capabilities, and quicker production times, is presenting remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 15.7 Billion by 2032, expanding at a CAGR of 4.9% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been segregated into pistol, revolver, rifle, machinegun, and others. Currently, pistol dominates the market, holding the largest share.
  • Based on the application, the market is divided into military, law enforcement, and others. At present, military accounts for the majority of the global share.
  • On the basis of the caliber, the market has been categorized into 5.56 mm, 7.62 mm, 9 mm, and others. Among these, 9 mm represents the biggest market segment.
  • Based on technology, the market is bifurcated into guided and unguided. Currently, guided holds the largest market share.
  • On the basis of the cutting type, the market has been classified into rifled and smoothed bore. At present, rifled represents the most popular segment.
  • Based on the operation, the market is differentiated into automatic, semi-automatic, and manual. Amongst these, automatic accounts for the largest market share.
  • On a regional basis, 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. Presently, North America enjoys the leading position in the market.
  • 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 dArmi Pietro Beretta S.p.A., Heckler & Koch GmbH, Herstal SA, Israeli Weapon Industries, Remington Arms Company LLC, Smith & Wesson Holding Corporation, Sturm, Ruger & Company Inc., etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Application, Caliber, Technology, Cutting Type, Operation, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Beretta Holding S.P.A, Colt’s Manufacturing Company LLC, Glock Ges M.B.H, Fabbrica dArmi 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.
Customization Scope 10% Free Customization
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Small Arms Market to Reach US$ 15.7 Billion by 2032, Fueled by Rise in Geopolitical Issues
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