Light Weapons Market Share, Industry Growth, Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Light Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global light weapons market share, size, trends and  forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Light Weapons Market?

The global light weapons market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

What are Light Weapons?

Light weapons refer to a wide range of weapons that are designed to be portable and easily carried by an individual or a small group of people. They comprise handguns, rifles, submachine guns, light machine guns, and their corresponding ammunition. They are versatile and beneficial for defense, combat, and personal protection. As they are widely utilized by military and law enforcement agencies, private security firms, and civilian gun owners, the demand for light weapons is rising across the globe. 

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What are the growth prospects and trends in the Light Weapons industry?

At present, the increasing number of terrorist and insurgency activities, political unrest, and cross-border disputes around the world represents one of the primary factors contributing to the market growth. Apart from this, the growing adoption of light weapons due to the escalating demand for personal security and self-defense is offering a positive market outlook. 

In line with this, the rising adoption of precision-guided light firearms with advanced features, such as targeting, fire control, and advanced head-up display technologies, is propelling the growth of the market. Moreover, governing and law enforcement agencies of various countries are modernizing their arsenal with lightweight weapons, which is bolstering the growth of the market. 

Furthermore, the rising demand for effective and efficient firearms that can be easily maneuvered in complex environments across the globe is strengthening the growth of the market.  

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

·      Heavy Machine Guns (HMGs)

·      Grenades and Grenade Launchers

·      Mortars

·      Man-portable Anti-tank Systems (MANPATS)

·      Man-portable Air Defense Systems (MANPADS)

·         Others
 

Breakup by Technology:

·      Guided

o   Laser Guided

o   Infrared Guided

o   Satellite Guided

o   Semi-automatic Command to Line of Sight

·      Unguided
 

Breakup by Application:

·      Defense

·      Homeland Security

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

BAE Systems plc, FN Herstal (Herstal Group), General Dynamics Corporation, Heckler & Koch GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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