Small Arms Market Analysis and Global Forecast 2024-2034

Small Arms Market Overview

The Small Arms Market size accounted for USD 9.03 Billion in 2023 and is estimated to account for 9.45 Billion in 2024. The Market is expected to reach USD 13.01 Billion by 2034 growing at a compound annual growth rate (CAGR) of 4.51% from 2024 to 2034. The Small Arms Market refers to the global industry involved in the production, distribution, and sales of firearms that can be carried and operated by a single individual. These include weapons such as pistols, revolvers, rifles, carbines, shotguns, submachine guns, and assault rifles.

The factors influencing market include government regulations, geopolitical tensions, military modernization programs, and civilian demand for self-defense weapons. Technological advancements, such as smart guns and lightweight materials, also impact the growth of the market.

Global Small Arms Market Synopsis

Small Arms Market Dynamics

The major factors that have impacted the growth of Small Arms Market are as follows:

Drivers:

Ø  Technological Advancements

Innovation in firearm technologies, such as lightweight materials, improved targeting systems, and the development of smart guns, is attracting both military and civilian buyers. Increased awareness about personal security and rising crime rates are influencing civilian populations to purchase small arms for self-defense. Countries with increasing defense budgets, especially in Asia and the Middle East, are major contributors to the growing demand for small arms.

Restraint:

• Perception of High Costs of Advanced Weaponry

While technological advancements improve the capabilities of small arms, the cost of these sophisticated weapons can be prohibitive, especially for smaller law enforcement agencies and developing countries. Economic downturns or instability can reduce defense budgets and civilian spending on firearms, particularly in regions where small arms are seen as non-essential purchases.

Opportunity:

⮚     Law Enforcement Modernization

As governments focus on modernizing their law enforcement agencies, there is a growing opportunity to supply police and security forces with advanced small arms and related equipment. The rising need for private security in both developed and developing regions, driven by increased concerns about crime and terrorism, creates demand for small arms within the private security sector.

Small Arms Market Segment Overview

By Firing System

Based on Firing System, the market is segmented based on Gas-operated, Recoil-operated and Manual. The Recoil-operated segment dominant the market. This system is commonly found in semi-automatic and fully automatic firearms. Key aspects of this segment include advancements in recoil management technologies, which aim to improve accuracy and reduce the impact on the shooter.

By Type

Based on Type, the market segment has been divided into Pistol, Revolver, Rifles and Others. The rifle segment dominant the market. Assault rifles, recoilless rifles, snipers, new sporting rifles, and anti-material/bolt-action rifles are all included in this category. Due to an increase in sporting and hunting activities, modern sporting rifle guns have also seen widespread adoption in recent years. As a result of global modernization programs, demand for assault rifles and sniper rifles has increased significantly in comparison to other small arms, assisting in the expansion of the rifle segment.

By Caliber

Based on Caliber, the market segment has been divided into 9mm, 5.56mm, 7.62mm, 12.7mm, 14.5mm and Others.  The 5.56MM caliber segment dominant the market. The increasing adoption of small arms chambered for 5.56mm can be attributed to the growth of the 5.56mm caliber segment. Armed forces’ shift from shoot to kill to shoot to injure has resulted in high demand for this caliber. 5.56mm ammunition is commonly used in assault rifles and AR-style handguns, which are readily accessible in all countries.

By End Use

Based on End Use, the market segment has been divided into Defense and Civil & Commercial. The Civil & Commercial segment dominant the market. It covers a wide range of firearms such as pistols, rifles, and shotguns that are sold to individuals, security companies, and commercial entities. The demand in this segment is influenced by factors like personal safety concerns, recreational shooting activities, and evolving regulations on firearm ownership.

Global Small Arms Market Regional Analysis

Based on region, the global Small Arms Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Small Arms Market followed by the Asia-Pacific and Europe regions.

Small Arms North America Market

North America holds a dominant position in the Small Arms Market. North America, particularly the U.S., is the largest market for small arms due to high civilian ownership, strong defense spending, and a large law enforcement sector. Strong civilian demand for personal protection, hunting, and recreational shooting. Stricter gun control debates and regulations in parts of the U.S. could impact future sales.

Small Arms Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Small Arms Market industry. The Asia-Pacific region is experiencing rapid growth due to increased defense spending and modernization efforts by countries like India, China, Japan, and South Korea. Rising geopolitical tensions in the South China Sea and border disputes are driving military upgrades and expanding law enforcement needs in rapidly urbanizing countries.

Competitive Landscape

The global Small Arms Market is highly competitive, with numerous players offering a wide range of software solution. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Colt’s Manufacturing
• Sig Sauer
• Steyr Arms
• Remington Outdoor Company
• Smith & Wesson
• Daniel Defense Inc
• Israel Weapons Industry
• Heckler & Koch Gmbh
• GLOCK Ges.m.b.H
• Kalashnikov Group

Key Development

In April 2022, The United States Army selected next-generation squad weapon rifles and machine gun variants, as well as 6.8mm ammunition. The army eventually intends to purchase 107,000 M5 rifles and 13000 M250 machine guns from Sig Sauer. The USD 4.7 billion contract was awarded to produce weapons and 6.8mm ammunition over the next several years.

In May 2022, The Spanish Armed Force has awarded a contract to Rheinmetall Denel Munition, a subsidiary of the Rheinmetall Group, to supply 40mm weapon and ammunition systems. The company supplies 40mm X 53 high velocity combat ammunition as well as training ammunition.

Scope of the Report

Global Small Arms Market, by Firing System

• Gas-operated
• Recoil-operated
• Manual

Global Small Arms Market, by Type

• Pistol
• Revolver
• Rifles
• Others

Global Small Arms Market, by Caliber

• 9mm
• 56mm
• 62mm
• 7mm
• 5mm
• Others

Global Small Arms Market, by End Use

• Defense
• Civil & Commercial

Global Small Arms Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2034: USD 13.01 Billion
CAGR (2023-2033)	4.51%
Base year	2022
Forecast Period	2024-2034
Historical Data	2024 (2017 to 2020 On Demand)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Firing System, Type, Caliber, End Use
Geographies Covered	North America, Europe, Asia-Pacific, South America, Middle East, Africa
Key Vendors	Colt’s Manufacturing, Sig Sauer, Steyr Arms, Remington Outdoor Company, Smith & Wesson, Daniel Defense Inc, Israel Weapons Industry, Heckler & Koch Gmbh, GLOCK Ges.m.b.H and Kalashnikov Group
Key Market Opportunities	·       Law Enforcement Modernization ·       Private Security Sector Growth
Key Market Drivers	·       Technological Advancements ·       Self-Defense and Home Security Trends

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Small Arms Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Small Arms Market historical market size for the year 2021, and forecast from 2023 to 2033
• Small Arms Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Small Arms Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.