Small Arms Market Analysis | 2023-2028

Market Insights

The Small Arms Market is expected to grow from US$ 7.97 billion in 2022 to US$ 9.23 billion in 2028 at a CAGR of 2.47% during the forecast period.

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Market Dynamics

The most common uses for weapons are in sporting events, hunting, and self-defense, and it is predicted that these markets will continue to grow strongly in the future. Governments worldwide have put restrictions and guidelines on the purchase and use of small guns. Important drivers of the global growth of small weapons include the expansion of small arms in sporting events and the rise in demand for small arms for self-defense applications.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• Machine guns capable of firing 5.56mm rounds at a cyclic rate of 750 rounds per minute are used on market platforms. These systems are well known for their compatibility with M240 weapons, which can fire 7.62mm bullets at a cyclic firing rate of 1,000 rounds per minute. For example, True Velocity, a prominent weapons and ammunition producer in the United States, is expected to create 6.8mm ammunition as a substitute for traditional 5.56mm NATO rounds in elite special operations forces. As part of the global market, the new caliber is intended to be heavier and faster than 5.56mm NATO rounds. This will most likely allow troops to shoot from a larger distance with higher sharpness and precision.
• The rising use of small guns chambered for 5.56mm can be ascribed to the rise of the 5.56mm caliber sector. Armed forces' shift from shoot to kill to shoot to injure has increased demand for this caliber. This cartridge has a variety of military and civil designations and is the most used caliber for rifle ammunition in the world. 5.56mm ammunition is often used in AR-style rifles and AR-style pistols, both of which are commercially accessible.

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Segments Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Type

• Handguns
• Shotguns
• Machine Guns
• Rifles
• Others

By Operation Type

• Manually Operated Firearm
• Self-Loading Firearm

By Barrel Type

• Rifled-Bore
• Smooth-Bore

By End User

• Armed Forces
• Law Enforcement
• Sporting & Hunting
• Civilian Self-Defense

Region

• North America 
• Europe 
• Asia-Pacific 
• Rest of the World

The market is divided into several categories: pistols, revolvers, rifles, machine guns, shotguns, and others. Assault rifles, snipers, recoilless rifles, contemporary sports rifles, and anti-material/bolt-action rifles are examples of guns included in this category. Due to a growth in sports and hunting activities, the contemporary sporting rifle has also seen widespread use in recent years. As a result of global modernization initiatives, demand for assault and sniper rifles has surged dramatically compared to other small weapons, contributing to the expansion of the rifle market.

By Barrel Type

The market is segmented into Rifled-Bore and Smooth-Bore. The primary advantages of smooth-bore designs over rifled designs are their increased appropriateness for fin-stabilized ammunition and much-decreased barrel wear.

By Technology Type

The market is segmented into Guided and Unguided. Moreover, the market is segmented based on action as Semi-Automatic and Automatic.

Regional Analysis

North America is likely to maintain its supremacy in the market throughout the forecast period.  Rapid modernization and technological advancements in various defense sectors have resulted in a high rate of Small Arms. Additionally, the US military is searching for a cutting-edge weapon that can shoot 6.8mm ammo. Textron Systems, General Dynamics Corporation, and SIG SAUER are the suppliers the US has chosen to produce sophisticated firearms; FN-America and PCP Tactical have been turned down. India, another significant spender on the military, is replacing 5.56mm weapons and ammunition with 7.62mm weapons and ammo. These causes are driving the demand for ammunition with a small caliber.

Major market participants are receiving several contracts from North American nations to deliver small arms, fueling the expansion of the market in the area. For instance, the US Department of Defense granted FN America a USD 119 million contract in February 2020 for delivering more than 167,000 M4 and M4A1 rifles. The deal will last for five years. The US Army Contracting Command granted Hecker & Koch a USD 33 million contract in March 2020 for procuring squad-designated marksman rifles and compact semi-automatic sniper systems. Concurrently, the market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. This region's major economies emphasize modernizing their military systems, driving the Asia Pacific market growth.

Key Players

The following are the key players in the small arms market:

• Sturm, Ruger & Co., Inc. (US)
• Kalashnikov Group (Russia)
• GLOCK Ges.m.b.H. (Austria)
• Smith & Wesson (US)
• Èeská Zbrojovka a.s. (Czech Republic)
• Israel Weapons Industry (IWI) (US)
• Heckler & Koch Gmbh (Germany)
• Colt’s Manufacturing LLC (US).

Report Features

This report provides market intelligence most comprehensively. 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.

What Deliverables Will You Get in this Report?

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.

Target Audience

The target audience of the small arms market includes-

• Vendors.
• Manufacturers.
• Distributors.
• Organizations.
• Government Bodies.

Covid-19 Impact

Covid-19 has brought about several changes, including how organizations define and conduct their production and supply services. Due to the increasing uncertainty dominating such outbreak instances, most of the economy's goals and contributing sectors are taking a backseat. The primary necessity of the small arms market is to give greater consideration to the development of healthcare infrastructure and further cater to similar needs of people, as a result of the increasing number of instances with each passing day and the degree of severity taking a toll.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global market. The historic years considered for the study are 2017-2028, the base year is 2022, the estimated year is 2023, and the Assessment period is 2023-2028. The following are the critical questions answered in the report.

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the global market?
• What is the market share of the top vendors?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Recent Mergers & Acquisitions

There is stiff competition in the market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their Small Arms based on their quality and penetration in the target and emerging markets.

Also, some major mergers and acquisitions in the market recently have significantly influenced the competitive dynamics. For example:

• In May 2020, the Canadian Department of National Defense granted Colt Canada, one of the major market participants and a subsidiary of Colt's Manufacturing Company LLC, a contract for the supply of 272 of the brand-new C20 semi-automatic rifles. With an 18-inch barrel, this rifle is categorized as an Intermediate Sniper Weapon.
• In May 2020, Colt's Manufacturing Company LLC also received a Joint Foreign Military Sales contract for the US Army's M16A4 rifles. It is a firm-fixed-price, five-year IDIQ contract for foreign military sales (FMS) worth USD 383 million.
• In April 2020, a company known as Èeská Zbrojovka a.s. obtained a contract from the Czech Republic Army to deliver 39,000 small guns valued at around USD 105 million. The army is expected to get 16 thousand BREN 2 assault rifles, over 22 thousand CZ P-10 pistols, over 1,600 CZ 805 G1 underslung grenade launchers, and approximately 100 CZ SCORPION PDWs as part of this arrangement, in addition to training ammo. This deal has improved the company's long-term relationship with the Czech Army.