Light Weapons Market Growth A Brief Analysis on Research Forecast And Segmental View By 2032
Light Weapons Market Overview:
Light Weapons Market Size was valued at USD 11.9 billion in 2022. The light weapons market is projected to grow from USD 12.614 Billion in 2023 to USD 20.1047 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2032).
The global Light Weapons Market has been segmented based on type, technology, mode of operation, end-user and region.
Based on type, the light weapons market forecast is divided into heavy machine guns, light canons, grenade launchers, infantry mortars, recoilless weapons, man-portable anti-tank systems, man-portable air-defense systems, and other weapons. The man-portable anti-tank systems segment is estimated to account for the largest market share while the grenade launchers segment is projected to witness the highest CAGR during the forecast period. The man-portable anti-tank system comprises rocket launchers, rocket-propelled grenades (RPGs), among others. It offers more lethal and effective defense against almost all land-based vehicles as well as aircraft and helicopters flying at a low altitude.
Market Segmentation:
Based on technology, the Light weapons market growth is divided into guided and unguided. The guided segment is estimated to account for the largest market share while the unguided segment is projected to witness a higher CAGR during the forecast period. The unguided weapons are readily portable and can be easily operated by a single soldier. The unguided weapons include heavy machine guns, grenade launchers and others.
Based on mode of operation, the Light weapons market growth is divided into crew-served and individual. The crew-served segment is estimated to account for the largest market share while the individual segment is projected to witness a higher CAGR during the forecast period. The individually operated weapons are typically shoulder-fired or hand-held. Nowadays due to technological advancements, light-weight and durable materials are being used to manufacture these weapons which enable them to be operated by an individual.
Based on end-user, the Light weapons market growth is divided into defense and homeland security. The defense segment is estimated to account for the largest market share while the homeland security segment projected to witness a higher CAGR during the forecast period. The homeland security segment covers law enforcement agencies such as the police. Owing to various issues such as gang related violence, civil unrest, among others, the homeland security sector is widely procuring the light weapons nowadays.
Key Players:
The light weapons market major players are Arsenal JSCo (Bulgaria), General Dynamics Ordnance & Tactical Systems (US), Heckler & Koch GmbH (Germany), Indian Ordnance Factories Organization (India), Lockheed Martin Corporation (US), NAMMO AS (Norway), Rafael Advanced Defense Systems Ltd. (Israel), Raytheon Company (US), Saab AB (Sweden), and Thales SA (France).
Regional Analysis:
The market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increase in indigenous weapon production in the Asia Pacific region. China, and India are key markets for light weapons in this region.
Related reports:
Non-Lethal Weapons Market Report by Type (Direct Contact Weapons and Directed Energy Weapons), by Disabling Mechanism (Impact, Irritant Chemicals and Intense Sound/Light), by End-User (Law Enforcement and Military) and by Region – Forecast to 2028
Automatic Weapons Market Research Report: Information by Product (Automatic Rifles, Machine Guns, Light Machine Guns, Medium Machine Guns, Automatic Launchers, Grenade Launchers, Missile Launchers, Mortar Launchers, Automatic Cannons, and Gatling Guns), End Use (Land, Naval, and Airborne), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America)—Forecast till 2027
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