Shoulder Fired Weapons Market: Trends, Key Players, and Emerging Opportunities
Exploring the Future of Shoulder Fired Weapons Market: Key Players, Trends, and Segments
Shoulder-fired weapons are portable, lightweight firearms designed to be operated from the shoulder. They include a variety of weapons such as rocket launchers, missile systems, and grenade launchers. These weapons are crucial for defense operations, offering versatility and mobility in combat scenarios.
The global shoulder fired weapons market size was valued at USD 5.7 billion in 2022. It is estimated to reach USD 8.62 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2023–2031).
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Latest Market Trends:
- Technological Advancements: The market is witnessing significant technological innovations, including the development of lightweight materials, digital fire control systems, and advanced guidance systems such as laser-guided and infrared homing technologies.
- Increased Defense Spending: Rising global defense budgets, especially in developing countries, are driving the demand for advanced shoulder-fired weapons.
- Domestic Manufacturing: Countries are focusing on enhancing their domestic manufacturing capabilities to reduce dependence on imports and boost self-reliance.
- Multi-Role Systems: The advent of multi-role shoulder-fired systems that can switch between different types of munitions is enhancing their appeal for modern militaries.
Key Opportunities
- Advanced Anti-Tank Solutions: There is a growing demand for more accurate, versatile, and powerful shoulder-fired systems to counter evolving threats.
- Expansion of Domestic Manufacturing: Countries are increasingly focusing on enhancing their domestic manufacturing capabilities.
- Technological Innovations: Advancements in seeker technologies, counter-countermeasure systems, and non-line-of-sight capabilities are expected to drive market growth
List of Key Players in the Shoulder-Fired Weapons Market
- Denel
- JSC KBM
- KBP Instrument Design Bureau
- Lockheed Martin Corporation
- MBDA Holdings SAS
- Rafael Advanced Defense Systems Ltd
- Raytheon Company
- Roketsan AS
- Saab AB
- Thales Group
Market Segmentations
- Launcher
- Ammunition
- Short Range
- Medium Range
- High Range
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Regional Analysis
- North America: The region holds a dominant market share due to the high defense spending of the United States and Canada. Continuous investment in modernizing military infrastructure and the presence of key industry players are driving market growth.
- Europe: European countries such as the UK, France, and Germany are heavily investing in advanced defense systems, including shoulder fired weapons, to strengthen their military capabilities amid rising geopolitical tensions.
- Asia-Pacific: The region is expected to witness significant growth due to increasing defense budgets in countries like China, India, and South Korea. Rising regional conflicts and military modernization initiatives are key growth drivers.
- Latin America: Although a smaller market, Latin America is gradually increasing its defense spending. Countries like Brazil and Colombia are focusing on strengthening their defense forces.
- Middle East & Africa: Geopolitical tensions and defense modernization programs in countries like Saudi Arabia, the UAE, and South Africa contribute to market growth in this region.
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