Kenneth Research has recently added a report titled Small Arms and Light Weapons market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Small Arms and Light Weapons market is further anticipated to grow with a CAGR of 3.9% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Small Arms and Light Weapons (SALW) Market is estimated to reach $25.6 billion by 2024; growing at a CAGR of 3.9% from 2016 to 2024. Small Arms and Light Weapons (SALW) comprise two classes of weapons that consist of small arms and light weapons. Small arms are made solely for discrete use, whereas light weapons are arms to be used by a crew. Various factors such as rising issues on human rights and safety & security, growing consequences of urban warfare, and growing terrorism incidents across the globe are expected to boost the growth of the global small arms and light weapons (SALW) market. The advancement of light-weight weapons for further improvement of defense system is the recent trend in the developed nations.
Major factors driving the global small arms and light weapons (SALW) market are militarization of police force, change in warfare style, and increasing use of small weapons for self-defence strategies. However, import export of small arms and illegal trading may hamper the market growth. Furthermore, rising economies would unfold with numerous growth opportunities in the forecasted year.
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Major segments of the global small arms and light weapons (SALW) market are type, application, and geography. The type segment comprises small arms and light weapons. Further, Small arms comprise rifles, pistols, handguns, man-portable machine guns, shotguns, and other small arms. While light weapons comprise mortars, landmines, grenade launchers, rocket launchers, rocket propelled grenades (RPGs), anti aircraft weapons, anti tank weapons, and other light weapons. Application comprises law enforcement, military, and other applications.
Geographically, the global small arms and light weapons (SALW) market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Russia, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The major players competing in the market are Sturm, Ruger & Company, Inc., General Dynamics Corporation, SIG SAUER GmbH & Co., Glock Ges. m.b.H., Browning Arms Company, Beretta S.p.A., Lockheed Martin Corporation, FN Herstal S.A., Heckler & Koch GmbH, and Colt’s Manufacturing Company LLC, among others.
The key takeaways from the report
The report will provide detailed analysis of Small Arms and Light Weapons (SALW) Market with respect to major segments such as type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Small Arms and Light Weapons Market has been included in the report
Profile of the key players in the Small Arms and Light Weapons Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of the Global Small Arms and Light Weapons (SALW) Market
Man-portable Machine Guns
Other Small Arms
Rocket Propelled Grenades( RPGs)
Anti Aircraft Weapons
Anti Tank Weapons
Other Light Weapons
Rest of Europe
Rest of Asia-Pacific
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