Amsterdam, NL - January 06, 2020 -
The military small arms market are an inevitable part of any Defense and Homeland Security forces across the world. The importance of small arms have been witnessed through the World Wars, Vietnam Conflict and the most recent Afghanistan and Iraqi operations. The role and the material science of small arms market have evolved over the past few decades. The maturation of this segment has also resulted in the increased efficiency of three key indicators, namely the lethality, range and accuracy.
The revenue restraint in this sector is the illegal arms, this is also one of the facilitators of easy access to arms and thereby related events. Illegal arms account to both the crude production of arms using bicycle frames or any other commercially available structures and unaccounted arms. In 2007, GAO revealed that around 110,000 Kalashnikov rifles and around 80,000 pistols bought by US forces for Iraqi security forces could not be accounted. Such incident cumulate to form the larger illegal arms market.
The military small arms market is not an independent entity, the complementing markets are the ammunition and the material sciences market. The need to neutralize a distant target by using minimal ammunition are the key drivers of measurement of efficiency. The increased focus on weight reduction through Soldier Modernization programs have also promoted the use of advanced alternative material. These modernization programs are focused on integrating the small arms equipment into the Next Generation Soldier Systems.
A significant portion of the US S&T budget is being allocated towards Soldier Modernization programs. This is because Soldier Modernization programs have been identified as one of the six priority areas, the other identified areas are Air and Missile Defense, Long Range Precision Fire and Future Vertical Lift to name a few. The US Solider Modernization programs are focused towards increasing the Lethality of the Soldier, this is expected to be achieved through development of the Next Generation Rifle, Augmented System and Enhanced Night Vision Binocular.
The legal import and export transactions of the top ten countries surpassed 25 Million units during the period 2006- 2018. This market was dominated by the revolvers and pistols segment followed by rifles and carbines segment. US, Italy and UK were the most active countries in the above-mentioned segment and time frame. It is also interesting to note that the cumulative share of imports was 3X higher to the cumulative exports in this segment.
The report titled “Global Military Small Arms - Market and Technology Forecast to 2028
” is segmented by Region, End users, By Type, and By Operation. The Regional Segments are North America, Europe, APAC, Middle East and ROW. The End User market is sub segmented as Defense and Homeland Security. The market is segmented by Operations as Manual, Semi- Automatic and Automatic. Six types of arms have been considered for this study they are Assault Rifles, Light Machine Guns, Rifles & Carbines, Sub Machine Guns, Revolvers & Pistols and Others.
The total Global market for military small arms is estimated at around USD 6.29 Billion in 2020 and the market is expected to grow to USD 7.59 Billion by 2028. The CAGR of the market is accounted at around 2.10%. Revolvers and Pistols is expected to account to around one- third of the market, predominantly driven by its procurement by the Homeland Security market.
Reasons to Buy:
- The report would help any new entrants into the market to identify the key trends which would impact the market during the forecast period, 2020-2028.
- The report covers all the drivers, restraint and challenges in the Military Small Arms market in detailed.
- The new entrants in the market would understand the key historical demand across the countries. The country analysis section has been segmented by type of small arm.
- The key technologies that are expected to shape the market during the forecast period are covered in detailed.
- The report would help the existing players to understand the future market potential across types and Geographies.
- The sales team of small arms manufacturers could this report for their sales planning over the next few years and also plan Region specific strategies.
- The investment bankers focused on this sector could use the report to identify hot spots in this market.