The small arms market size is projected to grow from USD 8.9 billion in 2022 to USD 11.1 billion by 2027, at a CAGR of 4.5% from 2022 to 2027
Factors such as the militarization and modernization of police forces, rise in criminal violence across globe, and increasing use of small arms by civilians for commercial activities are driving factors assisting the growth of the small arms market.
New York, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Small Arms Market by End user, Type, Caliber, Technology, Cutting Type, Firing Systems, Mode of Operation & Region - Global Forecast to 2027" - https://www.reportlinker.com/p03693831/?utm_source=GNW
The small arms market includes major players such as Colt’s Manufacturing LLC (US), Sig Sauer (US), Steyr Arms (US), Remington Outdoor Company (US), Smith & Wesson (US), Sturm, Ruger & Co., Inc. (US), Daniel Defense Inc. (US), GLOCK Ges.m.b.H. (Austria), Kalashnikov Group (Russia), Israel Weapons Industry (IWI) (US), Heckler & Koch Gmbh (Germany), and ?eská Zbrojovka a.s. (Czech Republic). These players have spread their business presence across various countries in regions such as North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
• By caliber, 5.56mm is the fastest-growing segment of the small arms market“
Based on caliber, the 5.56mm caliber segment of the small arms market is projected to witness the highest CAGR during the forecast period till 2027. The growth of the 5.56mm caliber segment is mainly because of increasing adoption of small arms chambered for 5.56mm.
, By type, Rifles is fastest-growing and dominating segment of the small arms market “
Based on type, the rifle segment is projected to grow at a highest CARG in the small arms market from 2022 to 2027. Increase in the use of different types of rifles by military forces and law enforcement agencies and civilian participation in rifle-based shooting sports across regions is the reason behind a growth of this segment.
Defense: The fastest-growing end user segment of the small arms market “
The defense end user segment of the small arms market has been further sub classified into military and law enforcement. The growth of the defense segment of the small arms market can be attributed to the increased spending of countries on military modernization programs, as well as the rise in terrorist activities and civil disturbances in several parts of the world.
North America: The largest contributing region in the small arms market.
North America shows the highest market potential for small arms, primarily due to the increased defense spending countries in the region, along with the rise in incidences of crimes like gun violence, which are driving both, law enforcement as well as civilian segments to procure small arms for counter-terrorism as well as self-defense applications, respectively. The increasing popularity of sporting and hunting activities among civilians has also boosted the demand for small arms in the region.
*The break-up of the profile of primary participants in the small arms market:*
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 25%, Europe – 15%, Asia Pacific – 45%, Middle East – 10%, RoW – 5%
Major companies profiled in the report include Colt’s Manufacturing LLC (US), Sig Sauer (US), Steyr Arms (US), Smith & Wesson (US), Sturm, Ruger & Co., Inc. (US), Remington Outdoor Company (US), Daniel Defense Inc. (US), GLOCK Ges.m.b.H. (Austria), Kalashnikov Group (Russia), and ?eská Zbrojovka a.s. (Czech Republic), Israel Weapons Industry (IWI) (US), Heckler & Koch Gmbh (Germany) (29 Companies).
*Research Coverage:*
This research report categorizes the small arms market basis of end-use sector (defense, civil & commercial), type (pistol, revolver, rifle, machine gun, shotgun, others), caliber (5.56mm, 7.62mm, 9mm, 12.7mm, 14.5mm, others), technology (guided, unguided), cutting type (smooth bore, threaded/rifled), firing systems (recoil-operated, gas-operated, manual), mode of operation (semi-automatic, automtic), major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa.
*Reasons to buy this report:*
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall small arms market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
*The report provides insights on the following pointers:*
• Market Penetration: Comprehensive information on small arms offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies and trends, research & development activities, as well as new product launches in the small arms market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the small arms market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the small arms market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the small arms market
Read the full report: https://www.reportlinker.com/p03693831/?utm_source=GNW
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