Market Research Report
Small Arms Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Small Arms Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: November 10, 2021
IMARC Services Private Limited
Content info: 148 Pages
Delivery time: 2-3 business days
The global small arms market grew at a CAGR of around 5% during 2015-2020. Small arms are portable, lethal weapons that can expel or launch a shot, bullet or projectile by explosive action. These arms include revolvers, self-loading pistols, carbines, assault rifles, and light and sub-machine guns that are intended for individual use. They are generally provided with ancillaries and accessories, such as slings, cleaning kits, oil bottles, under-barrel grenade launchers, sound suppressors, optical sights, fore-grips and flashlights, to increase the overall effectiveness and usefulness of weapons. Small arms comprise stock, barrel, action and other operating components that are manufactured according to military and law enforcement specifications.
The rising terrorist threats, increasing cross-border security issues and the growing investments in the military and defense sector are escalating the demand for small arms to strengthen security at international borders, military bases and other sensitive sites. Additionally, governing agencies of several countries are acquiring advanced weapon systems to modernize police forces and prevent human rights violations. Apart from this, increasing domestic crime rates, along with the imposition of several laws enabling possession of weapons for self-defense purposes, are encouraging the adoption of small arms among civilians. Furthermore, the growing incidents of theft and burglaries are promoting the utilization of small arms in private companies. Besides this, the emerging participation of individuals in shooting sports is also positively influencing the growth of the market. Moreover, the escalating demand for lightweight, high precision and compact weapons is anticipated to provide lucrative opportunities for manufacturers in the future. Looking forward, IMARC Group expects the global small arms market to exhibit moderate growth during the next five years.