The new report by Expert Market Research titled, ‘GlobalAutomatic Weapons Market Size,Report and Forecast 2023-2028’, gives an in-depth analysis of the global automatic weapons market, assessing the market based on its segments like types, products, calibre, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): 7.41 Billion
• Forecast CAGR (2023-2028): 7.94%
• Forecast Market Size (2027): 11.72 Billion
The increasing adoption of semi-automatic or full-automatic weapons among the commando forces and close-combat fighters, owing to the greater strategic and tactical advantages in the battleground, is driving the market growth. Meanwhile, airborne automatic weapons reduce the human casualties by decreasing the need for human soldiers in life-threatening missions. This factor is anticipated to bolster the market growth in the forecast period. Moreover, the growing focus of military powers of the world on providing advanced weapon training to its active military personnel is likely to be a major growth driving factor.
Geographically, North America accounts for a significant share in the market owing to the high military expenditure and growing demand for automatic weapons to carry out military exercises and drills. The United States of America is the highest military spender in the world.
Industry Definition and Major Segments
Automatic weapon is defined as a self-loading firearm which keeps firing until the ammunition is gone or the trigger is released. An automatic weapon acts as a force multiplier and plays a crucial role in close combats. In addition, automatic weapon performs increasingly advanced functions such as targeting and applying force with little or no human oversight. Moreover, automatic weapons bolster the efficacy of war fighter by saving time.
On the basis of type, the market can be segmented into:
• Fully Automatic
Based on product, the market can be classified into:
• Automatic Rifle
• Machine Gun
• Automatic Launchers
• Automatic Cannons
• Gatling Guns
The market can be segmented based on calibre into:
• Small Calibre
• Medium Calibre
• Large Calibre
The significant end-uses included in the market are as follows:
The regional markets for automatic weapons include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the automatic weapons market include the rising military expenditure of the sovereign nations owing to the increasing geopolitical tensions, rising terrorism, and technological advancements in the combat strategies by the combat forces. Meanwhile, the growing international cooperation between the sovereign nations to expand the trade of weapon systems is likely to be another major trend in the market.
For instance, the Make in India initiative is propelling the export of Indian firearms and ammunition. The growing R&D activities by the major market players aimed towards producing modern firearms with minimum human intervention are also anticipated to augment the market in the forecast period. Hence, these developments are likely to spearhead the market growth in the coming years.
Key Market Players
The major players in the market include General Dynamics Corporation, Northrop Grumman, Rheinmetall AG, ST Engineering, KBP Instrument Design Bureau, and Heckler & Koch AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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