Small Arms Market Expected to Reach USD 15,438.2 Million by 2032, Boasting a Solid CAGR of 5.5% and Explosive Growth Prospects.

Market Insights-

The size of the small arms market was estimated at USD 9,100.00 million in 2022. A compound annual growth rate (CAGR) of 5.5% is predicted for the Small Arms market industry during the projection period (2023-2032), increasing from USD 9,533.36 Million in 2023 to USD 15,438.2 million by 2032. The main factors driving market expansion are the increase in modernized weapon technologies and the rise in demand for tiny weapons among civilians.

A new development in the manufacturing of firearms is the increased usage of 3D printing technology. For the production of small weapons, Direct Metal Laser Sintering (DMLS) and Fused Deposition Modelling (FDM) have a number of advantages. To improve operational precision, efficacy, and dependability, several companies are developing intelligent weapons.

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Smart guns are equipped with modern technologies like RFID chips, biometric sensors, and fingerprint scanners to deter unauthorized users. The market is anticipated to have a growth in demand for smart weapons over the projected period as a result of better features like quick access, fingerprint authentication, long battery life, and others.

Regional Analysis-

The analysis provides market information for North America, Europe, Asia-Pacific, and the rest of the world, organized by region. Throughout the forecast period, the North American region is anticipated to dominate the small arms market. This is due to the region's increased defense spending and rise in gun violence, which has prompted law enforcement and the general public to purchase small arms for use in counterterrorism and self-defense, respectively. Due to the rise in popularity of civilian recreational and hunting activities, there has also been a significant growth in the demand for small weapons in the North American region.

Market Segmentation-

Smooth bore and Threaded/Rifled are two cutting-type-based market segments for small arms. Over the projected period, the Smooth bore segment is anticipated to hold the biggest market shares.

Gas-operated, recoil-operated, and manual firing methods are the three categories that make up the small arms market segmentation. Over the projection period, the Gas-operated category is anticipated to have the greatest market share.

Guided and Unguided small arms fall within the technology-based segmentation of the small arms market. Over the projection period, the Guided segment is anticipated to hold the biggest market shares.

Semi-automatic and Automatic are two of the actions included in the segmentation of the small arms market. Over the projection period, the automatic segment is anticipated to have the biggest market share.

Defense and Civil & Commercial are two of the end-use
sectors included in the segmentation of the small arms market. During the projection period, it is anticipated that the Defense segment would account for the greatest market share.

The caliber-based segments of the small arms market are 9mm, 5.56mm, 7.62mm, 12.7mm, 14.5mm, and Others. Over the projection period, the 5.56mm segment is anticipated to have the greatest market share.

Based on type, the small arms industry is divided into pistols, revolvers, handguns, rifles, shotguns, machine guns, and others. Over the course of the forecast period, the rifles segment is anticipated to rule the market.

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Key Companies in the Small Arms Market include -

Accuracy International Ltd
American Outdoor Brands Corporation
Beretta Holding SpA
Colt's Manufacturing Company, LLC
Glock Ges.M.B.H
Heckler & Koch GmbH
Herstal SA
Remington Outdoor Company
Steyr Arms GmbH
Sturm, Ruger & Co., Inc

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Small Arms Industry Developments -

In August 2023, According to the company, the new Multi Weapon Mount from FN Herstal has been fully MIL-STD approved and is now ready for use. In the FN Herstal Air, Land, and Sea Weapon Systems catalog, it is one of many high-performance items. The FN MWM will debut at DSEI 2023 in London in less than two weeks.

In June 2023, FN Herstal reported that Noptel in Finland has improved its manufacturing capacity by purchasing greater surface area and hiring more specialized employees.

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