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Small Arms Market - Growth Factors Analysis, Product Overview and Share Forecast to 2023

Aug 22nd 2019 at 3:05 AM

Market Highlights:

The global small arms market has been segmented based on type, barrel, operation, end-user, and region.

Based on type, the small arms market is divided into handguns, shotguns, machine guns, and rifles & others. The handguns segment is further divided into pistols and revolvers. The rifles segment is estimated to account for the largest market share and is projected to witness the highest CAGR during the forecast period owing to the increasing civilian procurement of rifles for hunting and sporting activities. Furthermore, sniper and assault rifles are widely being procured by military and law enforcement agencies, for combat against terrorism, armed violence, and disrupting other criminal activities.

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Intended Audience:

  • Defense Contractors
  • Hunting & Sporting Enthusiasts
  • Law Enforcement Agencies
  • Regulatory Bodies
  • Research Institutes
  • Small Arms Manufactures

Key Players

The key players in the global small arms market are Accuracy International Ltd. (UK), American Outdoor Brands Corporation (US), Beretta Holding SpA (Italy), Colt’s Manufacturing Company, LLC (US), Glock Ges.m.b.H. (Austria), Heckler & Koch GmbH (Germany), Herstal SA (Belgium), Remington Outdoor Company (US), Steyr Arms GmbH (Austria), and Sturm, Ruger & Co., Inc. (US).

Segmentation:

The global small arms market has been segmented by type, barrel, operation, end-user and region. Based on type, the small arms market is divided into handguns, shotguns, machine guns, and rifles & others. In 2017, the rifles segment accounted for the largest market share as it is more lethal during combat amongst all weapons. Hence it is being widely procured by the defense organizations throughout the world. Based on barrel, the small arms market is divided into rifled-bore and smooth-bore. In 2017, the rifled-bore segment accounted for the largest market share as it ensures the projectile flies accurately. Based on operation, the small arms market is divided into manually-operated firearm and self-loading firearm. In 2017, the self-loading firearm segment accounted for the largest market share as it uses the potential energy stored within a cartridge, to cycle the weapon rather than relying on the user. Based on end-user, the small arms market is divided into armed forces, law enforcement, sporting & hunting, and civilian self-defense. In 2017, the armed forces segment accounted for the largest market share owing to the huge procurement of these weapons by military organizations globally to strengthen their armed forces.

Regional Analysis:

The global small arms market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is estimated to account for the largest share during the review period as it leads in global military expenditure and technological advancements. Although, Canada makes some investments in the development of small arms, yet the market is primarily dependent on the U.S. This region has the presence of major market players such as Colt’s Manufacturing Company, LLC, Sturm, Ruger & Co., Inc., among others. The global small arms market is estimated to register a CAGR of nearly 4% during the forecast period of 2018 to 2023.

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