Latest News- Small Arms Market: Civil and commercial is expected to lead the End-user segment during 2024-2028

The Small Arms Market is being driven by Rising concerns about personal safety and security

The Small Arms Market is expected to grow at a CAGR of 5.21% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.60 billion. In the dynamic small arms market, the rising preference for modular firearms platforms is a significant trend. These platforms offer users the flexibility to tailor their firearms to unique requirements through interchangeable components, such as grips, stocks, barrels, and handguards. Modular firearms are highly versatile, catering to various roles and missions, including hunting, sport shooting, self-defense, and tactical applications. The adaptability of these systems allows users to modify their firearms for diverse scenarios without the need for specialized tools or extensive gunsmithing expertise. This customization enhances user experience and effectiveness, making modular firearms a valuable investment in the small arms market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user

  • Civil and commercial
  • Defense

• Type

  • Rifle
  • Pistol
  • Short gun
  • Others

• Geography

  • North America

    • US

  • Europe

    • Germany
    • UK

  • APAC

    • China
    • India

  • Middle East and Africa

  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising concerns about personal safety and security
• Increasing demand for small arms from law enforcement sector
• Increasing participation in shooting sports and recreational shooting activities

However, the market also witnesses some limitations, which are as follows:

• Strict regulatory frameworks and licensing requirements for small arms
• Illegal arms trade proliferation threatening legitimate markets
• Ethical concerns pertaining to sale and use of small arms

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Market Scope in Small Arms Market Research Report

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Research Analysis Overview

The small arms market encompasses various types of firearms, including pistols, revolvers, rifles, shotguns, assault rifles, sniper rifles, and machine guns. Notable mentions are the AK 47, Rheinmetall MG 3, Uzi, M4 Carbine, and Stockholm International Fair. Military expenditure fuels the development of these weapons, leading to modernization and the production of ammunition for handguns, revolvers, rifles, assault rifles, sniper rifles, shotguns, and machine guns.

Market Research Overview

The small arms market is a significant segment of the global aerospace and defense market, which falls under the capital goods industry. This market includes the production of firearms, ammunition, shooting ranges, and related accessories. Key areas of focus within the small arms market include firearm regulations and gun control policies, military procurement, law enforcement adoption, civilian ownership, and self-defense trends. Technologically advanced products such as lightweight firearms with polymer frames, modular weapons, smart gun technology, tactical rifles, and submachine guns are gaining popularity. Additionally, hunting firearms and recreational shooting continue to drive demand. The global capital goods market size is determined by the revenue generated by manufacturers and providers for industries like aerospace and defense, building, construction and engineering, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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