The Shoulder-Fired Weapons Market is segmented by Technology (Guided and Unguided), by Range (Long, Medium, and Short), by Assembly Type (Launcher, and Projectile), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
The Shoulder-Fired Weapons Market is segmented by Technology ...
The Global Shoulder-Fired Weapons Market was estimated at US$ 6.7 billion in 2021 and is expected to grow at a CAGR of 5.7% during 2022-2028 to reach US$ 9.8 billion by 2028.
The demand by militaries for Shoulder-Fired Weapons globally is driving market growth. The prime factor attributing to the growth is the ability to operate and transport them effectively in close-counter combat situations. These weapons can be repaired quickly on-site, and are robust, and durable. While militaries aim to reduce costs and be more agile in the 21st century, such weapons have advantages as compared to others. These weapons permit soldiers to aim objects and evade the vicinity swiftly before the enemy can identify their presence. Shoulder-fired weapons come in very convenient in urban warfare situations with substantially less room to maneuver large complex weapons.
Inter-operability is also contributing to the growth, of shoulder-fired weapons allowing to engage of numerous targets and the fire of different types of missiles on the battlefield. One can have a single launcher with multiple specifications which enables to reduce the cost and make them easier to carry to the battlefield. Thus, being cost-effective, and easy to maintain is one of the prime concerns that has increased its adoption across developing countries that cannot afford expensive and large systems. Inter-operability also be important throughout maintenance and repair as there is a switching of parts and components, permitting for effective utilization of resources. Additionally, the cost of the launcher decreases, which allows militaries to acquire more innovative warheads and missiles that previously would have extended budgets.
However, the need for shoulder-fired weapons on the battlefield has emerged significantly. Technology-aided systems with upgraded competencies such as artificial intelligence can be the foremost factor that restricts the growth of the market. The adoption of Gen Z weapons will render shoulder-fired weapons superseded. Additionally, the wide authenticities involved in technology allocation contracts might impact implementation by smaller countries. Any weapon sale requires geopolitical considerations that might cancel or delay the purchasing plans. Shoulder-Fired weapons are also expected to cause damage to the soldier over a long period of use, triggering health and safety concerns. Stealth features entrenched in the missiles will increase the capabilities. Sooner or later, skulking weapons may also be utilized in wars. This indicates that there will be enormous demand for such weapons during the forecast period.
Developing economies are pushing to bolster their defense abilities, and with the increase in global terrorism, the requirement for safeguarding valuable assets and territories is expanding. Shoulder-Fired weapons offer a cost-effective solution which implemented appropriately in the war zone. There is also an increase in tensions among nations that in turn rises defense spending.
The usage of man-portable air defense systems (MANPADS) and man-portable anti-tank systems (MANPADS) provides a massive advantage to soldiers by engaging targets without bothering about the weight and accuracy of the strike by the weapon. Rising usage of advanced armored machinery in wars, numerous countries are expanding the usage of MANPADS and MANPADS. Innovative MANPADS are outfitted with smart control units, infrared sensors for heat detection, and ultraviolet sensors for radiation detection. The infrared seekers are the most common MANPADS utilized which attain their targets by identifying the heat of the aircraft’s engine. Igla and Strela weapons are now equipped in new age MANPADS, with Stinger shoulder weapons from the United States.
The impact of COVID-19 on the overall market revenue is deemed to be less. Although manufacturing delays hit the industry for a short duration in 2020 and 2021.
Shoulder-Fired Weapons Market Features
Market Size in 2028
USD 9.8 billion
Market Size in 2021
USD 6.7 billion
Market Growth (2022-2028)
5.7% CAGR
Base Year of Study
2021
Trend Period
2016-2020
Forecast Period
2022-2028
Segments Covered
By Technology Type (guided and unguided)
By Range Type (Long, Medium, and Short)
Region (North America, Europe, Asia-Pacific, and Rest of the World)
Top Companies in 2022
BAE Systems plc
Bharat Dynamics Limited
General Dynamics Corporation
Lockheed Martin Corporation
MBDA
Rafael Advanced Defense Systems Ltd
Raytheon Technologies Corporation
Saab AB
Dominant Region
North America was the largest shoulder-fired weapons market in 2021 and is forecast to lead the market during the forecast period.
Segments Analysis
By Technology Type
The global shoulder-fired weapons market is divided into guided and unguided. The unguided shoulder-fired weapon technology segment held the largest share of the market in 2021 owing to the increasing demand for missiles and launchers from the defense forces as this technology is comparatively cost-effective and light weighted. The guided weapon technology segment is expected to grow at the fastest rate owing to the growing demand for next-generation guided missile systems for high-precision target acquisition with minimum damage.
By Range Type
The global shoulder-fired weapons market is segmented into long, medium, and short. The medium-range weapons segment is projected to show continued demand due to the need for destroying enemy bases and bunkers and tanks within the range from 1 to 5 KM. The long-range weapon segment is projected to grow at an exponential rate during the forecast period owing to the rising demand to destroy enemy helicopters and other fighter planes from a long distance and in stealth mode.
Regional Analysis
North America was the largest shoulder-fired weapons market in 2021 and is forecast to lead the market during the forecast period. This is due to the high defence budget, technological advancements, and presence of key manufacturers in the region. For example, in May 2022, the United States government intended to provide thousands of Javelin and Stinger shoulder-fired weapons to Ukraine owing to Russia and Ukraine conflicts. In May 2022 the U.S. has also ordered Javelin anti-tank weapons. These weapons are produced in collaboration between Lockheed Martin and Raytheon Missiles & Defense.
Asia-Pacific is expected to witness the fastest demand growth by 2028 owing to the surge in investments in the defense sector, rise in terrorism activities, and unstable socio-political scenarios in the region. Further, emerging economies such as India and China are also investing heavily in shoulder-fired weapons, apart from modernizing their existing military equipment. China has spent around $293 Billion in 2021 on military expenditure, whereas India spent around $ 76.6 billion in 2021. China is one of the major developers of shoulder-fired weapons in the region. China is investing heavily in the development of smart sensor-based weapons which can discriminate between neutral targets, friends, and foes, to decrease the unintended shooting of civilian vehicles and aircraft. China is investing considerably in developing shoulder-fired weapons, for instance, in February 2022, China examined QW-12 innovative MANPADS for targeting cruise missiles, jet aircraft, and helicopters in a live-fire test.
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Key Players
There is stiff competition in the global shoulder-fired weapons market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their smart weapon offerings on the basis of their quality and their penetration in the target and emerging markets. Also, there have been some major mergers and acquisitions in the industry in recent years, which significantly influenced the competitive dynamics. For example:
In May 2022, Lockheed Martin focused to expand roughly double the production capacity of Javelin anti-tank shoulder-fired missiles to 4,000 a year from 2,100 per year. Also in May 2022, the United States Army acquired 1,300 stingers MANPADS from the joint venture of Raytheon-Lockheed.
The following are the major players in the global shoulder-fired weapons market:
BAE Systems plc
Bharat Dynamics Limited
General Dynamics Corporation
Lockheed Martin Corporation
MBDA
Rafael Advanced Defense Systems Ltd
Raytheon Technologies Corporation
Saab AB
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Key questions this report answers
Relevant contents in the report
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In-depth Analysis of the Shoulder-Fired Weapons Market
How lucrative is the future?
Market forecast and trend data and emerging trends
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Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
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Drivers & challenges
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The major players in the global shoulder-fired weapons market are BAE Systems plc, Bharat Dynamics Limited, General Dynamics Corporation, Lockheed Martin Corporation, MBDA, Rafael Advanced Defense Systems Ltd, Raytheon Technologies Corporation, Saab AB.
North America was the largest shoulder-fired weapons market in 2021 and is forecast to lead the market during the forecast period. This is due to the high defence budget, technological advancements, and presence of key manufacturers in the region.
Asia-Pacific is expected to witness the fastest demand growth by 2028 owing to the surge in investments in the defense sector, rise in terrorism activities, and unstable socio-political scenarios in the region.