Automatic Weapons Market Growing Demand, Top Trends, Share Analysis, Companies And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Automatic Weapons Global Market Report 2023 identifies increasing military expenditure as the major driver for the automatic weapons market's growth in the forecast period. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military would support the development of various aspects of the military market, including automatic weapons.

The global automatic weapon market is expected to grow from $7.71 billion in 2022 to $8.54 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automatic weapon market is expected to reach $12.36 billion in 2027 at a CAGR of 9.7%.

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Major competitors in the automatic weapons market are China North Industries Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, Daewoo Engineering & Construction, Rheinmetall AG, Singapore Technologies Engineering Ltd.

A key trend in the automatic weapons market includes product innovations. Major companies operating in the automatic weapon market are developing new products to sustain their position in the market. For instance, in July 2021, Ordnance Factory Tiruchirappalli (OFT), an India-based defense company specializing in the production of defense equipment and weapons, launched TriCa (Trichy Carbine), a compact and lightweight automatic weapon weighing 3.17 kg. It features a unique muzzle booster for flash concealment and sound reduction during firing and has an effective range of 150 to 175 m. It is compatible with ammunition, magazines, and interchangeable parts from available assault rifles such as the TAR and AK-47. It is designed for various forces, including infantry combat vehicle crews, paratroopers, and special operation forces.

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The automatic weapons market is segmented -
1) By Product: Automatic Rifle, Machine Gun, Automatic Launchers, Automatic Cannon, Gatling Gun

2) By Caliber: Small, Medium, Large

3) By End-User: Land, Airborne, Naval, Handheld And Stationary

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the automatic weapons market.

The Business Research Company's "Global Automatic Weapons Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Automatic Weapons Market Include:
1. Executive Summary
2. Automatic Weapons Market Characteristics
3. Automatic Weapons Market Trends And Strategies
4. Automatic Weapons Market - Macro Economic Scenario
…..
32. Global Automatic Weapons Market Competitive Benchmarking
33. Global Automatic Weapons Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automatic Weapons Market
35. Automatic Weapons Market Future Outlook and Potential Analysis
36. Appendix

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