OREGAON, PORTLAND, UNITED STATES , September 21, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Small Arms Market,” The small arms market size was valued at $8.4 billion in 2022, and is estimated to reach $14.2 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/3102
Growth of the global small arms market is driven by surge in use of small arms solutions for sports events & hunting activities and modernization of law enforcement agencies in developing countries. Changing nature of warfare and growth in defense expenditure are the key factors that support growth of the small arms market. In 2020, by end use sector, the civil & commercial segment witnessed leading market share. Moreover, the automatic segment is expected to witness leading market growth and dominate the market share during the forecast period.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By Type, the Pistol segment is anticipated to exhibit significant growth in the small arms market in the near future.
By Action, the Automatic segment is projected to exhibit significant growth in the small arms market in the near future.
By End-Use Sector, the Civil and Commercial segment is expected to exhibit significant growth in the small arms market in the near future.
By Region, Europe is anticipated to register the highest CAGR during the forecast period.
𝐓𝐡𝐞 𝐩𝐢𝐬𝐭𝐨𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐭𝐡𝐞 𝐭𝐲𝐩𝐞, the pistol segment held the highest market share of more than one-third of the global small arms market and is estimated to maintain its leadership status from 2023 to 2032. The same segment is also projected to manifest the highest CAGR of 6.0% throughout the forecast timeframe. This is due to the rise in concern for personal safety that has been a driving force behind the growth of the pistol segment. Pistols are handy, lightweight, and easy to carry for desired operations. Pistols are used by military and law enforcement officers as sidearms. These advancements attract both professional users and civilian consumers.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/small-arms-market/purchase-options
𝐓𝐡𝐞 𝐚𝐮𝐭𝐨𝐦𝐚𝐭𝐢𝐜 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐚𝐜𝐭𝐢𝐨𝐧, the automatic segment held the highest market share in 2022 accounting for more than half of the global small arms market and is projected to maintain its leadership status from 2023 to 2032. The same segment is estimated to obtain the highest CAGR of 5.6%. This is due to advancements in robotics and AI that have led to discussions about the integration of automatic arms in unmanned systems and robotic platforms. These developments introduce a new dimension to the concept of automatic arms, expanding their potential applications beyond traditional firearms. As technology continues to evolve, the growth trajectory of automatic arms is likely to remain intertwined with broader discussions about security, ethics, and the responsible use of advanced weaponry.
𝐓𝐡𝐞 𝐜𝐢𝐯𝐢𝐥 𝐚𝐧𝐝 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐞𝐧𝐝-𝐮𝐬𝐞 𝐬𝐞𝐜𝐭𝐨𝐫, the civil and commercial segment held the highest market share in 2022 contributing for more than two-thirds of the global small arms market and is expected to maintain its leadership status from 2023 to 2032. The same segment is projected to portray the highest CAGR of 5.5% throughout the forecast timeframe. This is due to the rise in concern toward personal safety and growth in adoption of modern sporting rifles are the key factors anticipated to support the growth of the segment. Moreover, the expansion in adoption of small arms for hunting activities, sporting events, and self-defense activities are estimated to spur demand for the civil & commercial segment during the forecast period.
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐
Based on region, North America held the highest market share in terms of revenue in 2022, contributing to nearly two-fifths of the global small arms market and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to the increase in adoption of products and services related to small arms, owing to multiple military and law enforcement modernization and enhancement programs underway in North America. However, the Europe region is expected to witness the fastest CAGR of 6.5% from 2023 to 2032, owing to rise in participation in shooting competitions across the region. Various countries in the region allow usage of rifles and pistons for sports and recreational activities, which acts as a driver for the growth of the small arms market in the region during the forecast period.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/3102
𝐋𝐢𝐬𝐭 𝐎𝐟 𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:
CZG – Ceská Zbrojovka Group SE
Fabbrica D’Armi Pietro Beretta S.P.A.
Heckler & Koch
Israel Weapon Industries (I.W.I) Ltd.
Smith & Wesson Brands, Inc.
Sturm, Ruger & Co., Inc.
Taurus International Manufacturing, Inc.
Webley & Scott
Weihrauch & Weihrauch Sport GmbH & Co. Kg
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
https://www.alliedmarketresearch.com/sniper-rifle-market-A10673 – Sniper Rifle Market
https://www.alliedmarketresearch.com/shotgun-shell-market-A14507 – Shotgun Shell Market
https://www.alliedmarketresearch.com/shooting-and-gun-accessories-market-A13699 – Shooting and Gun Accessories Market
Article originally published on www.einpresswire.com as Small Arms Market Size Expected to Reach $14.2 Billion by 2032