Man-Portable Anti-Armor Weapons Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Man-Portable Anti-Armor Weapons Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Man-Portable Anti-Armor Weapons Market Size and Projected Growth Rate?
The market for man-portable anti-armor weapons has seen a robust expansion lately. The market value is projected to rise from $5.91 billion in 2024 to $6.27 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. The increase during the historic phase can be credited to enhanced precision and lethality, adaptation to threats, geopolitical influences and demand, cost-effectiveness and affordability, as well as versatility and multi-role potential.

Expectations are high for a robust expansion in the man-portable anti-armor weapons market over the coming years. The market is forecasted to swell to a value of $7.94 billion in 2029, with a compound annual growth rate (CAGR) of 6.1%. This promising growth forecast can be credited to factors like miniaturization and portability, the emergence of smart and network-enabled systems, versatile capabilities, focus on deadly accuracy, and emphasis on cost-efficiency. Noteworthy trends many anticipate for this forecast period encompass regulatory and geopolitical elements, endeavors for cost-efficiency, the incorporation of smart and network-centric technologies, the response to contemporary threats, and a focus on precision and lethality.

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What Are the Different Man-Portable Anti-Armor Weapons Market Segments?
The man-portable anti-armor weapons market covered in this report is segmented -

1) By Type: Anti-Aircraft Missiles, Rocket Propelled Grenades, Anti-Tank Rifles, Recoilless Rifle
2) By Technology: Guided Weapons, Unguided Weapons
3) By Application: Homeland Security, Defense

Subsegments:
1) By Anti-Aircraft Missiles: Short-Range Air Defense Missiles, Man-Portable Air Defense Systems (MANPADS)
2) By Rocket Propelled Grenades (RPGs): Single-Use RPGs, Multi-Use RPGs
3) By Anti-Tank Rifles: Traditional Anti-Tank Rifles, Modern Anti-Material Rifles
4) By Recoilless Rifles: Lightweight Recoilless Rifles, Heavyweight Recoilless Rifles

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What Are the Primary Drivers Shaping the Man-Portable Anti-Armor Weapons Market?
The anticipated growth of the man-portable anti-armor weapons market is mainly driven by the increase in defense budgets. The defense budget, a part of the federal budget allocated for defense, covers costs such as personnel wages, training and medical expenses, as well as the upkeep and procurement of weapons and hardware. This budget rise eases the incorporation of expensive yet crucial missile defense system technologies. In April 2024, the Stockholm International Peace Research Institute (SIPRI), a renowned research institute from Sweden, revealed in a report that global military spending hit $2.443 trillion in 2023, a 6.8% rise in real terms compared to the previous year. Therefore, the increase in defense budgets seems to be propelling the man-portable anti-armor weapons market.

Which Companies Are Leading in the Man-Portable Anti-Armor Weapons Market?
Major companies operating in the man-portable anti-armor weapons market include Lockheed Martin Corporation, Bharat Dynamics Limited, General Dynamics Corporation, Saab AB, Raytheon Company, Thales Group, BAE Systems plc, MBDA Holdings SAS, Konstruktorskoye Byuro Mashynostroyeniya (KBM), Nammo AS, Rostec State Corporation, Elbit Systems Ltd., Rafael Advanced Defense Systems Ltd., Denel Dynamics, Northrop Grumman, HDT Global Inc., FLIR Systems Inc., Argon Electronics Ltd., Chemring Group plc, Rheinmetall AG, Jadara Equipment & Defence Systems, Roketsan Roket Sanayii ve Ticaret A.S., Luch Design Bureau

What Are the Major Trends Shaping the Man-Portable Anti-Armor Weapons Market?
Top businesses engaged in the man-portable anti-armor weapons market are focusing on rolling out new products such as the portable missile system as a means to solidify their market position. Also recognized as a man-portable air-defense weapon, this portable missile system can be operated by a single individual or a small squad to aim at aircraft, helicopters, or terrestrial vehicles. The effectiveness of this weapon system derives from its high mobility and swift deployment in diverse battle situations. For example, in August 2024, the Defence Research and Development Organization, a military research and development agency from India, declared the triumphant test-firing of the homegrown Man-Portable Anti-Tank Guided Missile (MP-ATGM). This system has a weight of 14.5 kg, complemented by an additional 14.25 kg for the command launch unit (CLU), which boosts its portability. Its features include a HEAT warhead meant for obliterating tanks and armored vehicles, and it has an operational range of 200 meters to 4 kilometers. The missile comes equipped with a state-of-the-art IIR sensor and avionics for precise top-attack targeting. It has a cylindrical build measuring 130 cm in length and 12 cm in diameter, and can be launched from a foldable tripod and tube.

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What Are the Top Revenue-Generating Geographies in the Man-Portable Anti-Armor Weapons Market?
North America was the largest region in the man-portable anti-armor weapons market in 2024. Asia-Pacific is expected to be the fastest-growing region in the man-portable anti-armor weapons market report during the forecast period. The regions covered in the man-portable anti-armor weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Man-Portable Anti-Armor Weapons Market?
2. What is the CAGR expected in the Man-Portable Anti-Armor Weapons Market?
3. What Are the Key Innovations Transforming the Man-Portable Anti-Armor Weapons Industry?
4. Which Region Is Leading the Man-Portable Anti-Armor Weapons Market?

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