Major players in the small arms and light weapons market are Beretta S. p. A. , FN Herstel, Smith & Wesson Holding Corporation, SIG Sauer, Carl Walther GmbH. , GLOCK Ges m. b. H, Colt’s Manufacturing Company LLC, Lockheed Martin Corporation, Thales Group, SAAB AB, Glock Ges.
New York, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Small Arms and Light Weapons Global Market Report 2022" - https://www.reportlinker.com/p06240573/?utm_source=GNW
m.b.H., Browning Arms Company, Heckler and Koch, Sturm Ruger & Company and Alliant Techsystems.
The global small arms and light weapons market is expected to grow from $11.02 billion in 2021 to $11.47 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.17 billion in 2026 at a CAGR of 1.5%.
The small arms and light weapons market consists of sales of small arms and light weapons by entities (organizations, sole traders, and partnerships) that produce small arms and light weapons. Only goods and services traded between entities or sold to end consumers are included.
The main types of small arms and light weapons are small arms and light weapons.Small arms, also known as firearms or guns, are man-portable lethal weapons designed for individual use that can expel or launch a shot, bullet, or projectile via explosive action.
The different calibers of the weapons are 14.5mm; 12.7 mm; 9 mm; 7.62mm; 5.56mm and various firing systems include recoil-operated; gas-operated; manual. The applications of small arms and light weapons include military and law enforcement that is used by defense, civil and commercial sectors.
Asia Pacific was the largest region in the small arms and weapons market in 2021.Western Europe is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increased defense spending is expected to fuel the growth of the small arms and light weapons market over the coming years.Countries around the world are investing in defense because of their conflicts and rivalry with other nations.
For instance, in December 2019, the Japanese government signed off on its defense budget of $48.5 billion for the next financial year, amidst increasing conflicts with Asia-Pacific. According to current results from the Stockholm International Peace Research Institute (SIPRI), the overall global defense budget increased to $1917 billion in 2019. Therefore, the increased defense spending drives the growth of the small arms and light weapons market.
The strict government legislation against possession of firearms is expected to impede the development of the small arms and light weapons market in the coming years.Countries around the world have tightened their weapons laws, making it much more challenging for regular people to own a firearm, as mass shooting events are on the rise.
According to the Gun Violence Archive (GVA), there have been over 33,000 reports of criminal attacks executed with firearms in 2019 alone. The Weapons (Amendment) Bill, 2019 specifies that those who use firearms in celebratory gunfire in a reckless or careless manner, risking human life or personal protection of others, are liable for two-year imprisonment or a fine which may extend to $0.0014 million (1 lakh) or with both. Therefore, the strict government legislation against possession of firearms restraints the growth of the small arms and light weapons market.
The growing technological advancements are a major trend gaining popularity in the small arms and light weapons market.Major companies operating in the small arms and light weapons market are focused on developing advanced technology solutions for small arms and light weapons.
For instance, in August 2021, MZA Associates Corp., a US-based laser weapons company, announced that they collaborated with the US military to develop a compact, portable, low-cost, and reliable C-UAS HELWS to damage or destroy unmanned aerial vehicles (UAVs) that are violating the airspace of military bases or other sensitive installations.
In September 2020, Sturm, Ruger, and Company, an America-based company that manufactures rugged, reliable firearms for the commercial sporting market acquired Marlin Firearms assets for $30 million.The acquisition will help Sturm, Ruger, and Company to widen their diverse product offerings.
Marlin Firearms, an America-based arms manufacturing company.
The countries covered in the small arms and light weapons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06240573/?utm_source=GNW
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