Global Light Weapons Market: Information by Type (Heavy Machine Guns, Light Canons, Recoilless Weapons, MANPATS, MANPADS, & others) by Technology (Guided & Unguided) by Operation (Crew-Served & Individual), by End-User and by Region — Global Forecast till 2023
Light weapons are weapons designed for use in a small crew vital for peacekeeping missions. They can be handled by a single person as well. Some instances of light weapons include mortars, rifles, land mines, grenades, launchers, heavy machine guns, and others. The global light weapons market report by Market Research Future (MRFR) covers comprehensive primary and secondary research on its scope and future use.
The global light weapons market is touted to touch a stellar valuation by exhibiting 4% CAGR from 2018 to 2023 (forecast period), as per MRFR. Focus on counter terrorist and other military operations are factors driving market demand. The sharp rise of defense expenditure among developed and developing economies and immense demand from law enforcement agencies are estimated to bolster the market volume over the forecast period.
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Approval of licenses to citizens for protection and security services and proliferation of technology has triggered the production of light weapons drastically. Research and development programs by nations for producing efficient weapons as well as export to other nations for amping up their defenses can work favorably for the light weapons market.
But strict regulations regarding trading and stringent rules and policies can hamper the market growth.
The global light weapons market is segmented by type, technology, mode of operation, and end-user.
By type, it is segmented into grenade launchers, recoilless weapons, light cannons, heavy machine guns, infantry mortars, man-portable air-defense systems, man-portable anti-tank systems, and others. Among them, the man-portable anti-tank systems segment held the largest market share in 2017 due to the capability of the weapon of defeating light and medium tanks. On the other hand, grenade launchers are predicted to exhibit the highest growth rate during the forecast period. Recoilless weapons can enjoy a hefty demand due to the use of weapons capable of launching large projectiles from small platforms.
By technology, it is segmented into guided and unguided. The guided segment held the largest market share in 2017 due to guided missiles having a higher success rate and covering long ranges.
By mode of operation, it is segmented into crew-served and individual. The former held a larger market share in 2017 and is portended to maintain its position till 2023.
By end-user, it is segmented into homeland security and defense. The defense segment held the lion’s share of the light weapons market in 2017. This can be attributed to the procurement of weapons in large consignments by defense agencies for protecting borders of nations.
The light weapons market looks upon the following regions – Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW), for a careful consideration of the impending demand.
North America is estimated to continue in the top position within the market due to technological advancements and high defense expenditure. Presence of various weapons manufacturers the likes of Raytheon and Lockheed Martin combined with investments for developing light weapons and respective ammunition can drive the regional light weapons market demand. In addition, the recent demand from Norway of M2A2 machine guns from U.S. Ordnance, a prominent manufacturer in the defense sector.
The APAC region is expected to experience immense demand at a robust CAGR due to indigenous weapon production in China and India. Increased capacity of governments due to inflated defense expenditure can spur the light weapons market demand in the region. Recently, the defense department of India and U.S. firm Sig Sauer have agreed to a contract for 72,400 rifles which can strengthen the arsenal of armed forces.
Key market players include Raytheon Company, Lockheed Martin Corporation, Saab AB, Indian Ordnance Factories Organization, NAMMO AS, Heckler & Koch GmbH, Rafael Advanced Defense Systems Ltd., Arsenal JSCo, General Dynamics Ordnance & Tactical Systems, Thales SA, and others.
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