Small Arms Market is anticipated to register a healthy CAGR of 5.5% during the review period. The rise of new economies in various regions of the planet has given the market for small weapons new opportunities for extension. They are becoming key drivers of interest for small weapons and firearms-related items as these non-industrial countries experience more prominent urbanization, rising opulence, and changing security concerns. The rise of new components that add to this extension should be visible in developing business sectors. Individual wellbeing and security concerns have become more noticeable as arising economies proceed to urbanize and their populaces develop. This has brought about a developing interest with good reason and individual security, which has expanded interest for guns, shotguns, and other reduced kinds of firearms.
Subsequently, the market for small arms has seen gigantic development as of late. Likewise, the longing for handguns and other small weaponry in agricultural nations goes past individual clients. The states of these areas are expanding how much cash they are putting resources into the modernization of their tactical powers and policing, which incorporates working on their inventory of small weapons. Along these lines, mass acquisition and development in the small weapons industry's guard and policing are both animated. A culture of sporting shooting is likewise being cultivated by the rise of serious shooting sports in arising countries, driving interest for expert rifles and firing extras. As additional individuals partake in shooting rivalries, they search for excellent firearms that are adjusted to their requests. This makes opportunities for producers to get into these creating markets by taking care of the necessities of members.
Market Segmentation
Based on type, the Small Arms Market is segmented into handguns {pistols and revolvers}, shortguns, machine guns, rifles & others. The barrel type bifurcates the market into rifled-bore and smooth-bore.
In terms of operation, the Small Arms Market is divided into self-loading firearm {automatic firearm and semi-automatic firearm} and manually operated firearm. Based on end-user, the market is categorized into armed forces, law enforcement, sporting & hunting, and civilian self-defense.
Regional Insights
The Europe Small Arms market represented ~37% in 2022. North America, which incorporates the US, Canada, and Mexico, is a significant member in the Small Arms Market. This market involves handguns, rifles, shotguns, submachine firearms, ammo, and comparing accessories. Numerous regionally unambiguous elements have added to North America's supported advancement in the small arms industry.
Europe market represents the second-biggest portion of the overall industry. Europe assumes a significant part in the worldwide market for small arms, portrayed by divergent mentalities and guidelines with respect to firearms in different nations. This market incorporates different firearms, like handguns, rifles, shotguns, and submachine weapons, as well as their frill and ammo. A few regional variables have added to the market elements of European small weapons.
Asia-Pacific, contained various nations and societies, assumes a huge part in the worldwide market for small arms. This unique market incorporates handguns, rifles, shotguns, and submachine weapons, notwithstanding their frill and ammo. A few elements one of a kind to this broad and different region drive the extension of the small arms market in the Asia-Pacific region. The region's intricate security climate is one of the primary development drivers for the Asia-Pacific small arms market.
Major Players
The key competitors in the Small Arms market are American Outdoor Brands Corporation, Steyr Arms GmbH, Beretta Holding SpA, Accuracy International Ltd, Colt's Manufacturing Company, LLC, Glock Ges.M.B.H, Heckler & Koch GmbH, Remington Outdoor Company, Herstal SA, and Sturm, Ruger & Co., Inc.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 18
1.1 MARKET ATTRACTIVENESS ANALYSIS 19
1.1.1 GLOBAL SMALL ARMS MARKET, BY TYPE 19
1.1.2 GLOBAL SMALL ARMS MARKET, BY BARREL 20
1.1.3 GLOBAL SMALL ARMS MARKET, BY OPERATION 21
1.1.4 GLOBAL SMALL ARMS MARKET, BY END USE 22
1.1.5 GLOBAL SMALL ARMS MARKET, BY REGION 23
2 MARKET INTRODUCTION 24
2.1 DEFINITION 24
2.2 SCOPE OF THE STUDY 24
2.3 RESEARCH OBJECTIVE 24
2.4 MARKET STRUCTURE 25
3 RESEARCH METHODOLOGY 26
3.1 DATA MINING 26
3.2 SECONDARY RESEARCH 27
3.3 PRIMARY RESEARCH 27
3.3.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 28
3.3.2 BREAKDOWN OF PRIMARY RESPONDENTS 28
3.4 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 30
3.4.1 BOTTOM-UP APPROACH 31
3.4.2 TOP-DOWN APPROACH 31
3.5 DATA VALIDATION 32
3.6 ASSUMPTIONS & LIMITATIONS 32
4 MARKET DYNAMICS 33
4.1 INTRODUCTION 33
4.2 DRIVERS 34
4.2.1 GROWING POPULARITY OF RECREATIONAL SHOOTING 34
4.2.2 INCREASING MILITARY EXPENDITURE 34
4.2.3 RISING DEMAND FOR PERSONAL PROTECTION 35
4.2.4 GROWING POPULARITY OF 3D PRINTING 35
4.3 RESTRAINT 37
4.3.1 STRINGENT GOVERNMENT REGULATIONS 37
4.4 OPPORTUNITIES 38
4.4.1 GROWING DEMAND IN EMERGING MARKETS FOR EVOLVING SECURITY NEEDS 38