PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1716689
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1716689
Firearms Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Firearms Market was valued at USD 9.9 billion in 2024 and is projected to grow at a CAGR of 4.7% from 2025 to 2034. The rising production and export of weapons continue to drive demand across the industry. Increased military spending contributes significantly to market growth, as governments around the world allocate higher budgets toward advanced weapons for national security. This trend presents lucrative opportunities for manufacturers to focus on producing advanced and high-precision firearms that align with modern defense requirements. Catering to the growing civilian demand and adopting innovative technologies can also strengthen the market, ensuring steady growth over the next decade.
Firearms are mechanical devices or portable barreled weapons designed to launch bullets at high velocity, powered by the expansion of gases from burning propellants. The market encompasses a diverse range of weapons, including handguns, rifles, shotguns, machine guns, and submachine guns. In 2024, the handguns market was valued at USD 3.6 billion. The rising preference for compact, high-capacity, and concealable handguns has led to increasing adoption by law enforcement agencies, which continue to upgrade their existing firearms with improved ergonomics and lighter materials to enhance operational efficiency.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $9.9 Billion |
| Forecast Value | $15.6 Billion |
| CAGR | 4.7% |
The firearms market is segmented by caliber, with categories including small, medium, and large caliber firearms, along with shotgun gauges. Small caliber firearms led the market in 2024 with a valuation of USD 5.8 billion. The growing need for compact, high-velocity firearms for specific purposes is driving demand in this segment. Small caliber weapons are widely used for training, recreational shooting, and military applications due to their lightweight design and improved accuracy. Law enforcement modernization and military advancements have further fueled demand in this segment, making small caliber firearms a dominant category in the global market.
By end user, the firearms market serves military forces, law enforcement agencies, civilians, private security firms, and shooting ranges and clubs. In 2024, the military segment was valued at USD 4.6 billion. The global focus on enhancing military strength through next-generation firearms has contributed to substantial growth in this segment. Bulk orders of firearms by various defense organizations indicate a commitment to modernizing arsenals, further boosting market expansion. Law enforcement agencies are also increasingly investing in upgraded firearms to improve response capabilities and ensure public safety.
The market is also classified by distribution channels, including direct and indirect sales. Direct sales, where manufacturers directly engage with customers through authorized platforms, dominated the market with a valuation of USD 6.1 billion in 2024. Legal D2C platforms allow manufacturers to bypass intermediaries, offering a streamlined purchasing process. The U.S. remains a key market, valued at USD 3.7 billion in 2024, driven by strong demand for firearms among civilians and security agencies.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Military and law enforcement demand for modernization
- 3.2.1.2 Increasing export and manufacturing of the weapons across the globe
- 3.2.1.3 Growth of hunting & shooting sports
- 3.2.1.4 Technological advancements in smart & ai-integrated firearms
- 3.2.1.5 Rising military budget amid geopolitical tensions
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 Stringent gun laws & regulatory restrictions
- 3.2.2.2 Illegal arms trade & smuggling
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Technology landscape
- 3.6 Future market trends
- 3.7 Gap analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive analysis of major market players
- 4.4 Competitive positioning matrix
- 4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Type, 2021 – 2034 ($ Mn & Units)
- 5.1 Key trends
- 5.2 Handguns
- 5.2.1 Pistols
- 5.2.2 Revolvers
- 5.3 Rifles
- 5.3.1 Semi-automatic rifles
- 5.3.2 Bolt-action rifles
- 5.3.3 Assault rifles
- 5.3.4 Sniper rifles
- 5.4 Shotguns
- 5.4.1 Pump-action shotguns
- 5.4.2 Semi-automatic shotguns
- 5.4.3 Double-barrel shotguns
- 5.4.4 Single-shot shotguns
- 5.5 Machine guns
- 5.6 Submachine guns
- 5.7 Others
Chapter 6 Market Estimates and Forecast, By Caliber, 2021 – 2034 ($ Mn & Units)
- 6.1 Key trends
- 6.2 Small caliber
- 6.3 Medium caliber
- 6.4 Large caliber
- 6.5 Shotgun gauges
Chapter 7 Market Estimates and Forecast, By End Use, 2021 – 2034 ($ Mn & Units)
- 7.1 Key trends
- 7.2 Military
- 7.3 Law enforcement agencies
- 7.4 Civilians
- 7.5 Private security firms
- 7.6 Shooting ranges and clubs
Chapter 8 Market Estimates and Forecast, By Distribution Channel, 2021 – 2034 ($ Mn & Units)
- 8.1 Key trends
- 8.2 Direct sales (manufacturer to consumer)
- 8.3 Indirect sales (distributors to consumers)
Chapter 9 Market Estimates and Forecast, By Region, 2021 – 2034 ($ Mn & Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Netherlands
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Australia
- 9.4.5 South Korea
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.6 Middle East and Africa
- 9.6.1 Saudi Arabia
- 9.6.2 South Africa
- 9.6.3 UAE
Chapter 10 Company Profiles
- 10.1 Barrett Headquarters
- 10.2 Colt CZ Group SE
- 10.3 FN HERSTAL
- 10.4 Glock Inc.
- 10.5 Heckler & Koch
- 10.6 Kalashnikov Concern JSC
- 10.7 MOSSBERG & SONS, INC.
- 10.8 Pietro Beretta Arms Factory SpA
- 10.9 PTR Industries Inc.
- 10.10 RemArms LLC.
- 10.11 Ruger & Co., Inc.
- 10.12 SIG SAUER
- 10.13 Smith & Wesson
- 10.14 Taurus International Manufacturing, Inc.
