The Global Automatic Weapons Market is driven by increasing armed conflicts and military modernization programs
Automatic weapons refer to firearms that load, fire, extract and eject spent cartridges as long as the trigger is pressed and they have ammunition available. They include light machine guns, assault rifles and automatic grenade launchers. Automatic weapons allow troops to deliver large volumes of lethal firepower against enemy forces in combat situations. Compared to semi-automatic firearms that fire a single round per trigger pull, automatic weapons ensure troops have a tactical advantage on the battlefield due to their high rate of fire. The growing incidences of armed conflicts and insurgencies in regions across the world have amplified the need for military forces to deploy technologically advanced weaponry. In addition, many countries are undertaking significant military modernization programs to equip their armed personnel with modern weapons. As a result, defense budgets are receiving sizable allocations which is contributing to the increased procurement of automatic weapons.
The Global Automatic Weapons Market is estimated to be valued at USD 9.69 Bn in 2024 and is expected to reach USD 18.69 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.21% from 2024 to 2031.
The increasing defense spending of major nations such as the United States, China and India is a key driver for the Automatic Weapons Market. These countries allocate sizable funds toward military modernization and equip their forces with new generation firearms. Additionally, the ongoing battle against insurgency by countries such as Iraq and Afghanistan has boosted demand for automatic weapons from security agencies. Furthermore, prevalent geo-political tensions and territorial disputes between nations involve a greater need for military equipment and combat-proven weapons. This will continue augmenting revenue streams for automatic weapons producers globally over the forthcoming years.
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