Light Weapons Market is estimated to register a CAGR of more than 4% during the forecast period of 2019 to 2023.
Light Weapons Market: Information by Type (Heavy Machine Guns, Light Canons, Recoilless Weapons, MANPATS, MANPADS, & others) by Technology (Guided & Unguided) by Operation (Crew-Served & Individual), by End-User, and by Region — Global Forecast till 2023
key Performer of Light Weapons Market:
We recognize the key players in the global light weapons market as Arsenal JSCo (Bulgaria), General Dynamics Ordnance & Tactical Systems (US), Heckler & Koch GmbH (Germany), Indian Ordnance Factories Organization (India), Lockheed Martin Corporation (US), NAMMO AS (Norway), Rafael Advanced Defense Systems Ltd. (Israel), Raytheon Company (US), Saab AB (Sweden), and Thales SA (France).
Free Sample Pages of Light Weapons Market:
Regional Analysis of Light Weapons Market:
The North American market for light weapons is expected to grow substantially during the forecast period. In 2017, the North American market accounted for the largest share. It houses two main countries, namely the US and Canada. The sheer existence of major players such as Lockheed Martin, Raytheon, and General Dynamics, result in the dominance of this region in the global market. Furthermore, players in this region are focusing on developing advanced technologies and lightweight weapon systems. These initiatives impart market growth.
In Europe, market growth is driven by the UK, Germany, France, and Russia. This region has some of the top defense spenders and Russia, France UK, Germany, and Italy collectively spent nearly USD 250 billion in 2017. Europe is currently facing a challenging security situation. Over the past five years, key countries such as the U.K and France has witnessed numerous terrorist incidents. Moreover, the growing influx of illegal immigrants from countries such as Syria, Iraq, and Libya into the European countries is escalating the risk of internal instability. These challenges fuel the demand for military equipment including the light weapons in this region.
Asia-Pacific is projected to be fastest-growing regional light weapons market during the review period. China, Japan, and India are expected to contribute significantly to the growth of the regional market. China accounted for the largest market share in 2017. In the recent years, countries in this region have been prone to extremist and insurgent threats as well as territorial disputes. There have been a high number of conflicts in the India-Pakistan border, India-China border, along the Himalayas, the Indian Ocean, and the South China Sea. It has resulted in the deployment of large battalions of troops to such regions, to counter the rise in cross-border activities. Hence, countries in the region such as China, India, and South Korea are focusing on equipping their armed troops with advanced weapons.
The Middle East & Africa is an emerging as an attractive destination for defense companies in the world, with Saudi Arabia leading the region’s military expenses. According to SIPRI, Saudi Arabia and UAE collectively contributed more than 5% of global military expenditure in 2017, and it is anticipated that the defense expenditure would rise fourfold in the coming years. The light weapon market is growing in the Middle East, and it can be attributed to focus protection against terrorism and related insurgent activities. The changing landscape of war over the years, in the Middle East, is also one of the major factors driving the market.
The Latin American region has witnessed a major growth in its defense sector, in the past decade. Among all the countries in the region, Mexico is expected to grow at a significant rate, owing to the country’s war against smugglers and drug traffickers. Meanwhile, it Brazil spent approximately USD 19.5 billion on military operations, exercises, and equipment, in 2016, accounting for 47.5% of the overall spend in the Latin American region, in the same year. Also, in recent years, with an increase in hostile activities in the Caribbean Sea, there have been efforts from the Caribbean and some South American nations, to curb such incidences. As a result, light weapons are being added to the inventories of their respective armies.
Sementation Light Weapons Market:
The global light weapons market has been segmented based on type, technology, mode of operation, end-user and region.
Based on type, the light weapons market is divided into heavy machine guns, light canons, grenade launchers, infantry mortars, recoilless weapons, man-portable anti-tank systems, man-portable air-defense systems, and other weapons. The man-portable anti-tank systems segment is estimated to account for the largest market share while the grenade launchers segment is projected to witness the highest CAGR during the forecast period. The man-portable anti-tank system comprises rocket launchers, rocket-propelled grenades (RPGs), among others. It offers more lethal and effective defense against almost all land-based vehicles as well as aircraft and helicopters flying at a low altitude.
Based on technology, the light weapons market is divided into guided and unguided. The guided segment is estimated to account for the largest market share while the unguided segment is projected to witness a higher CAGR during the forecast period. The unguided weapons are readily portable and can be easily operated by a single soldier. The unguided weapons include heavy machine guns, grenade launchers and others.
Based on mode of operation, the light weapons market is divided into crew-served and individual. The crew-served segment is estimated to account for the largest market share while the individual segment is projected to witness a higher CAGR during the forecast period. The individually operated weapons are typically shoulder-fired or hand-held. Nowadays due to technological advancements, light-weight and durable materials are being used to manufacture these weapons which enable them to be operated by an individual.
Based on end-user, the light weapons market is divided into defense and homeland security. The defense segment is estimated to account for the largest market share while the homeland security segment projected to witness a higher CAGR during the forecast period. The homeland security segment covers law enforcement agencies such as the police. Owing to various issues such as gang related violence, civil unrest, among others, the homeland security sector is widely procuring the light weapons nowadays.
Table of Content:
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
Continued. . .
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