The automatic weapons market is expected to witness a significant growth rate during 2020-25. The growth is attributed to surging economic and geographical tensions among various countries, modification and upgradation in militaries, and increasing government expenditure in the defense sector. The governments of both developed and the emerging nations are consistently increasing their budget allocation to the defense sector, which is anticipated to propagate the demand for automatic weapons in these countries in the forecast period.
According to MarkNtel Advisors’ research report “Global Automatic Weapons Market Analysis, 2020”, the global Automatic Weapons market is anticipated to grow at a CAGR of around 10% during 2020-25. The rising adoption of the precision weapon system that contains advanced navigation sensors, satellite navigation, and other high-tech automatic technologies has acted as the key market driver for the automatic weapon industry. Moreover, the rising war conflicts among the Middle East nations such as Israel, Iraq, and other defensive countries with prominent developing nations like Saudi Arabia and the UAE, is driving the demand for automatic weapons.
“Global Automatic Weapons Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decision, hotspots and growth opportunities available for Automatic Weapons providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings
Automatic Rifle Segment to Hold a Leading Position During the Forecast Period
Based on the product type, the Automatic Rifle segment held the largest market share in 2019. The automatic rifles offer more flexibility and convenience in operation. Moreover, the pricing of the product is much more efficient than any other form of automatic defensive object. The product is gaining significant demand from the emerging nations and leading consumers of defensive arm tools such as China, India, Saudi Arabia, Israel, etc., owing to its effective shooting power and portability of the device as stated in MarkNtel Advisors’ research report “Global Automatic Weapons Market Analysis, 2020”.
The Land Segment held the largest market share in 2019 and is projected to maintain its dominance in the forecast period owing to increasing number of inter-country land warfare and rising concentration of defense industry. Moreover, changing format of wars with the upgradation in the military requirements, leading to transformation of conventional land-based armored and tankers, and need for connected warfare systems are also promulgating the growth of the market.
According to MarkNtel Advisors, some the of key competitors operating in the Global Automatic Weapons market includes General Dynamics Corporation, Northrop Grumman, Rheinmetall AG, ST Engineering, KBP Instrument Design Bureau, Heckler & Koch AG, FN Herstal, Colt’s Manufacturing Company, etc. The companies in the industry are actively selling their products on the basis of contracts with the national and international military and defense organizations.
Key questions answered in the study