According to a report ,“Small Arms Light Weapons (SALW) Market Analysis By Type (Small Arms, Light Weapons), By Application (Military, Law Enforcement), By Region (North America, Europe, Asia Pacific, Rest of the World), And Segment Forecasts, 2018 – 2024”, published by Grand View Research, Inc., The global small arms light weapons market is expected to reach USD 25.76 billion by 2024, The development of light-weight weapons for further enhancement of defense system is an ongoing trend in the developed countries. In 2015, light weapons market accounted for over 60% of the overall market share and is also expected to significantly growth over the forecast period. The implementation of modernization programs for police and the military forces is expected to drive the growth.
Key Takeaways from the report:
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Rifles in small arms segment are expected to witness a significant growth at a CAGR of over 20% over the forecast period. The increasing interest of civilians in the shooting sports is expected to be the reason for growth.
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Grenade and grenade launchers are expected to witness enormous growth in the light weapons segment owing to increased stress between countries and increased development of grenade launchers
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The military application segment is anticipated to witness substantial growth and is estimated to reach over USD 13.0 billion by 2024. The widespread geographic presence of terrorism and human rights violation had led to the increased demand of light weapons market. Increased violation of civilians rights and law enforcement regulations have also triggered its growth.
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The Asia Pacific SALW market is anticipated to grow at a CAGR of over 25% over the forecast period. Increasing technology and economic developments in the emerging countries such as China and India with their cross-border disputes has contributed to the growth.
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Notable companies operating in the SALW market include Raytheon, Berette S.p.A., GLOCK Ges m.b.H., and FN Herstal SA
Increasing criminal activities and human rights violations have resulted in the increased efforts for the technology advancements and modernization of the weapons utilized by law enforcement. The Combat Development and Integration Command’s Fires and Maneuver Integration Division of marines introduced the small arms modernization strategy which is expected to focus on updating and developing the current weapons in short-term and futuristic systems that could hit the fleet in the 2020s.
North America SALW market, by application, 2014 – 2024 (USD Million)
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The governments of various countries are also investing their resources for the development of highly sophisticated weapon accessories such as night vision devices, laser rangefinders, weapon sights, aiming lasers, and fire control systems. High investment in the defense Research & Development (R&D) for shoulder –wired weapons made for developing a highly robust, reliable, and durable weapons system has also catapulted the demand for light weapons in military applications. The limited defense budget to boost the development of defense system is expected to hinder the market growth.
Europe SALW market, by type, 2015 (USD Million)
Grand View Research has segmented the global SALW market on the basis of type, application, and region:
SALW Type Outlook (Revenue, USD Million; 2014 – 2024)
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Small Arms
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Light Weight
SALW Application Outlook (Revenue, USD Million; 2014 – 2024)
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Military
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Law Enforcement
SALW Regional Outlook (Revenue, USD Million; 2014 – 2024)
- North America
- U.S.
- Canada
- Mexico
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Europe
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UK
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Germany
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France
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Russia
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Asia Pacific
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China
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Japan
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India
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South Korea
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RoW
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MEA
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South America
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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