The ‘Global Light Weapons Market Growth Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global light weapons market, assessing the market on the basis of its segments like type, guidance, application, and major region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Light Weapons Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.3%
Light weapons offer significant advantages in warfare, such as easy handling, lower reload time, and enhanced mobility of soldiers. The heightening adoption of heavy machine guns, owing to the high fire power, quick cooling system during firing, and excellent accuracy in terms of angle of fire, is escalating the light weapons market growth. Meanwhile, light weapons such as man-portable air defence systems are anticipated to witness a heavy demand due to the growing threat of combat aircrafts and intercontinental ballistic missiles.
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The increasing demand for efficient arms and ammunition across the military sector in the emerging economies, is fuelling the growth of the market for light weapons. In addition, the rising military expenditure of sovereign developing economies, escalating geopolitical tensions, and growing initiatives by various governments, aimed towards increasing combat preparedness are some of the crucial driving factors of the light weapons market.
The rising applications of light weapons to bolster homeland security is further adding to the market growth of light weapons. This can be attributed to the increasing prevalence of organised crime, such as human trafficking, robbery, violent protests, and homicide, among others. The increasing demand for advanced weapons from law enforcement agencies, police forces, and intelligence agencies, is further aiding the light weapons market.
Light Weapons Industry Definition and Major Segments
Light weapon, also known as light arms, are defined as portable lethal weapons which are used by armed forces. Although these weapons are light, they can inflict great damage to the opposing forces. These weapons do not require heavy maintenance or complicated logistics, instead, are easy to handle.
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Based on type, the market is segmented into:
- Heavy Machine Guns (HMGs)
- Grenades and Grenade Launchers
- Man-portable Anti-tank Systems (MANPATS)
- Man-portable Air Defence Systems (MANPADS)
By guidance, the market is divided into:
- Breakup by Guided Type
- Laser Guided
- Infrared Guided
- Satellite Guided
- Breakup by Guided Type
On the basis of application, the market is bifurcated into:
- Homeland Security
Based on region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Light Weapons Market Trends
The key trends in the global light weapons market include technological advancements in light weapons to counter the increasing sophistication of weapons handled by terrorists. The evolution of battlefield scenarios is leading to the development of new generation weapon systems. Additionally, increasing innovation by major market players, aimed towards developing efficient, high-precision, and compact light weapons are enhancing the operational efficiency of military personnel which in turn are increasing the reliability and demand for light weapons.
Growing emergence of robotic weapons, increasing penetration of artificial intelligence and increasing quality of light weapons are some of the crucial trends propelling the growth of the market for light weapons. In addition, the increasing capabilities of ballistic missiles, tanks, and light combat aircrafts are likely to augment the efficiency and anti-tank, air-defence, and heavy machine guns. Increasing cooperation between emerging economies and well-established sovereign economic nations, aimed towards gaining a geopolitical upper hand, is expected to escalate the trading of light weapons, thereby, expanding the market opportunities.
In terms of region, North America holds a significant share in the light weapons market. The market in the region is being driven by the high military expenditure of economically stable nations such as the United States. Meanwhile, the Asia Pacific is expected to witness a heightened growth in the market for light weapons over the forecast period, owing to increasing military expenditure and rising emphasis on indigenous manufacturing of military weapons across emerging nations.
Key Market Players
The major players in the global light weapons market report are:
- Saab AB
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- Thales Group
- Heckler & Koch GmbH
- Rheinmetall AG
- ARSENAL JSCo, and FN Herstal
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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