Press release
Shoulder Fired Weapons Market to Witness Impressive CAGR of 4.9%, Reaching USD 8.06 Billion by 2030
Shoulder Fired Weapons Market InsightsShoulder Fired Weapons Market Size was valued at USD 5.9 billion in 2022. The schizophrenia market is projected to grow from USD 6.2 Billion in 2023 to USD 8.06 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.9% during the forecast period (2023 - 2030).
The Shoulder Fired Weapons Market refers to the global market for portable weapons systems designed to be carried and fired by a single person. These weapons typically include rocket-propelled grenades, anti-tank guided missiles man-portable air-defense systems and other similar weapons.
The Shoulder Fired Weapons Market includes sales of these weapons and related equipment, such as launchers, ammunition, and spare parts, to military and defense organizations, law enforcement agencies, and other customers worldwide. The market is highly competitive and driven by demand from countries looking to enhance their military capabilities and combat terrorism and insurgency.
The COVID-19 pandemic has had a mixed impact. The pandemic has led to disruptions in global supply chains and reduced economic activity, which has affected demand for these weapons systems. On the other hand, the pandemic has also led to increased security concerns in some regions, which has driven demand for these weapons.
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Key Players
Some of the key market players are:
• Denel Soc Ltd (South Africa)
• JSC SPA Bazalt (Russia)
• KBP Instrument Design Bureau (Russia)
• Lockheed Martin Corporation (US)
• MBDA Holdings SAS (France)
• Rafael Advanced Defense Systems Ltd (Israel)
• Raytheon Company (US)
• Roketsan AS (Turkey)
• Saab AB (Sweden)
• Thales Group (France)
Market Segmentation
The shoulder fired weapons market has been segmented into technology and range.
Based on the technology, the market has been segmented into guided and unguided.
Based on the range, the market has been segmented into short range, medium range and high range.
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Regional Analysis
North America is the largest market for Shoulder Fired Weapons, driven by the high defense spending of the United States, which is the largest market for these weapons. The United States is the largest exporter of Shoulder Fired Weapons globally, with a significant share of its exports going to the Middle East and Asia-Pacific regions.
In the Asia-Pacific region, countries such as China, India, and Japan are investing heavily in their defense capabilities, driving demand for Shoulder Fired Weapons. The region is expected to experience significant growth in the coming years, with increasing investments in defense modernization programs.
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