San Francisco, 28
November 2018 - The
global small arms light weapons market is expected to
reach USD 25.76 billion by 2024, according to a new report by Grand View
Research, Inc. The increasing issues on human rights and safety and security
are expected to drive the demand. The increasing effects of urban warfare along
with increasing terrorism incidents have also led to the development of the
small arms light weapons across various regions. An increase in the urban
warfare along with increased terrorist activity is anticipated to propel the
market growth. The development of light-weight weapons for further enhancement
of defense system is an ongoing trend in the developed countries.
Increasing
criminal activities and human rights violations have resulted in the increased
efforts for the technology advancements and modernization of the weapons
utilized by law enforcement. The Combat Development and Integration Command’s
Fires and Maneuver Integration Division of marines introduced the small arms
modernization strategy which is expected to focus on updating and developing
the current weapons in short-term and futuristic systems that could hit the
fleet in the 2020s.
The governments
of various countries are also investing their resources for the development of
highly sophisticated weapon accessories such as night vision devices, laser
rangefinders, weapon sights, aiming lasers, and fire control systems. High
investment in the defense Research & Development (R&D) for shoulder
–wired weapons made for developing a highly robust, reliable, and durable
weapons system has also catapulted the demand for light weapons in military
applications. The limited defense budget to boost the development of defense
system is expected to hinder the market growth.
To request a sample copy
or view summary of this report:
www.grandviewresearch.com/industry-analysis/small-arms-light-weapons-salw-market
www.grandviewresearch.com/industry-analysis/small-arms-light-weapons-salw-market
Further key
findings from the report suggest:
- In 2015, light weapons market accounted for over 60% of the overall
market share and is also expected to significantly growth over the
forecast period. The implementation of modernization programs for police
and the military forces is expected to drive the growth.
- Rifles in small arms segment are expected to witness a significant
growth at a CAGR of over 20% over the forecast period. The increasing
interest of civilians in the shooting sports is expected to be the reason
for growth.
- Grenade and grenade launchers are expected to witness enormous
growth in the light weapons segment owing to increased stress between
countries and increased development of grenade launchers
- The military application segment is anticipated to witness
substantial growth and is estimated to reach over USD 13.0 billion by
2024. The widespread geographic presence of terrorism and human rights
violation had led to the increased demand of light weapons market.
Increased violation of civilians rights and law enforcement regulations
have also triggered its growth.
- The Asia Pacific SALW market is anticipated to grow at a CAGR of
over 25% over the forecast period. Increasing technology and economic
developments in the emerging countries such as China and India with their
cross-border disputes has contributed to the growth.
- Notable companies operating in the SALW market include Raytheon,
Berette S.p.A., GLOCK Ges m.b.H., and FN Herstal SA
Grand View Research has segmented the global SALW market
on the basis of type, application, and region:
SALW Type Outlook (Revenue, USD Million; 2014 - 2024)
- Small Arms
- Light Weight
SALW Application Outlook (Revenue, USD Million; 2014 -
2024)
- Military
- Law Enforcement
SALW Regional Outlook (Revenue, USD Million; 2014 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- RoW
- MEA
- South America
Access Press Release Of This Research
Report by Grand View Research:
www.grandviewresearch.com/press-release/global-small-arms-light-weapons-salw-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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