The increasing terrorism incidents and armed violence across the globe have made civilian to have small arms for the self dense purpose. Therefore, the escalating civilian applications of small arms due to rising concern for personal defense and sports activities such as various shooting competitions related to hunting and shooting, etc., are emerging as some of the major growth contributors to the small arms market across the globe.
Also, the increasing investments from military and defense forces in the small arms across various countries is one of the key contributors to the growth in the market size of the Global Small Arms market. Furthermore, the government’s interest to boost arms manufacturing across countries such as India, China is adding fuel to the pace in the market growth of the small arms market. In India, the government relaxed arms rule to increase investment in arms manufacturing, whereas China is focusing on increasing its military presence in Africa.
According to MarkNtel Advisors’ research report “Global Small Arms Market Analysis, 2020”, the market size of small arms across the globe is forecast to grow at a CAGR of 3% during 2020-25. The market is surging on account of increasing defense budget in the countries. Also, the government in various countries has launched the “Technology Development Plan in the defense sector”, which is expected to drive the market size of small arms across the globe. For instance: the 2006–20 Medium and Long-Term National Defense Science and Technology Development Plan in China etc. would further augment the growth of the market in the forthcoming year too.
North America Hold the Lion’s Share
In 2019, North America grabbed the major market share. The market size of the North America region is increasing on account of increasing defense budget in countries such as the US, Canada. In 2020, the government announced USD 934 bn investment in the defense sector in the U.S which was USD 686.1 bn in 2019. Moreover, the U.S is the largest arms producer in the globe and it was found that in 2018, there were more than one billion small arms distributed globally, out of which around 85% (857 million) were in the United States civilian hands alone. However, the APAC region is expected to grow at the highest CAGR during 2020-25. China is expected to grow at a CAGR of around 5% during the forecast period, as the government in China is focused on increasing military presence in other regions that would be contributing to the growth in the market size of the small arms industry.
Rifle, the Major Demand Driver
In 2019, the rifle segment grabbed the major market share owing to the increasing competition and championships across the globe. Moreover, the factor such as great visibility, high accuracy, reasonable pricing, ease of use over the other type such as pistol, revolver, etc. is contributing to the growth in market share of rifle segment. Moreover, due to a COVID-19 Pandemic, the demand for guns increased in the U.S due to the safety concern in the nation’s lockdown. The demand for AR-15 semi-automatic assault-style rifles increased in the country due to safety purposes among civilians. As per a local bullet manufacturer, “Fenix Ammunition” in the U.S, around 90% of demands is for .223 round, which is used in the AR-15 rifles.
Based on the operations, semi-automatic arms captured the major market share in 2019, and the same trend is expected in the forecast period too. The demand for semi-automatic is majorly emerging from civilians. Furthermore, the increasing shooting competitions are also contributing to the rise in the market share of semi-automatic in the small arms market across the globe.
Civilians are the major contributor to the growing market of small weapons. The market share for civilians is and forecast to increase due to the increasing safety and security purpose. Also, the increasing terrorism activities across the globe are pushing civilians to have a small weapon. Furthermore, hobbies such as shooting, targeting are also contributing to the increasing share of small arms from civilians. Furthermore, smooth bore cutting type dominated the market in 2019, owing to features such as versatility, accuracy, least chamber pressure, etc., as revealed by MarkNtel Advisors’ research report “Global Small Arms Market Analysis, 2020”.
According to MarkNtel Advisors’, the market of the small arms across the globe is highly fragmented due to the presence of numerous local and foreign players operating in the market. The companies with a considerable market share in the industry are Orbital ATK, Smith & Wesson Holding Corp., Sturm, Ruger, & Co., Inc., Freedom Group, Heckler and Koch GmbH, GLOCK Ges.m.b.H, SIG Sauer, Remington Arms Company LLC. The players in the industry are expanding geographical coverage to gain a significant market share in the industry. For instance, British firearms maker Webley and Scott (W&S) announced that the company will make the guns for the civilian in India. The company applied for the license in India in 2017 and got it in 2019.
“Global Small Arms Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for small arms 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.
1. By Type ( Pistol, Revolver, Rifle, Machine Gun, Shot Gun)
2. By Caliber (5.56 MM, 7.62MM, 9MM)
3. By End-User ( Military, Law Enforcement, Hunting, Sports, Self Defense)
4. By Cutting Type (Rifled/ Threaded Bore, Smooth Bore)
5. By Operation (Automatic, Semi-Automatic, Manual)
6. By Technology (Guided, Unguided)
7. By Region (North America, Europe, Asia-Pacific, Middle East, and Africa, South America)
8. By Countries (U.S, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, Australia, South Korea, Others)
9. By Company (Orbital ATK, Smith & Wesson Holding Corp., Sturm, Ruger, & Co., Inc., Freedom Group, Heckler and Koch GmbH, GLOCK Ges.m.b.H, SIG Sauer, Remington Arms Company LLC.)
Key questions answered in the study:
1. What are the current and future market trends of the Global small arms industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the region followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global small arms industry?
5. What are the customer orientation, purchase behavior, and expectations from the Global small arms firms across various regions?