Small Arms Market is Forecasted to Reach US$ 9.23 Billion in 2028, Says Stratview Research

The global Small Arms market is projected to witness a growth rate of 2.47% annually from 2023 to 2028, with an anticipated size of US$ 9.23 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Small Arms market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2962/small-arms-market.html#form

Report Highlights:
Market Size in 2028: US$ 9.23 billion
Growth (CAGR): 2.47% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Small Arms Market:

The global Small Arms market is segmented based on Type, Operation type, Barrel type, End-User type, and Region.

Based on barrel type - The market is segmented into Rifled-Bore and Smooth-Bore. The primary advantages of smooth-bore designs over rifled designs are their increased appropriateness for fin-stabilized ammunition and much-decreased barrel wear.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/2962/small-arms-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

North America is likely to maintain its supremacy in the market throughout the forecast period. Rapid modernization and technological advancements in various defense sectors have resulted in a high rate of Small Arms. Additionally, the US military is searching for a cutting-edge weapon that can shoot 6.8mm ammo. Textron Systems, General Dynamics Corporation, and SIG SAUER are the suppliers the US has chosen to produce sophisticated firearms; FN-America and PCP Tactical have been turned down. India, another significant spender on the military, is replacing 5.56mm weapons and ammunition with 7.62mm weapons and ammo. These causes are driving the demand for ammunition with a small caliber.

Major market participants are receiving several contracts from North American nations to deliver small arms, fueling the expansion of the market in the area. For instance, the US Department of Defense granted FN America a USD 119 million contract in February 2020 for delivering more than 167,000 M4 and M4A1 rifles. The deal will last for five years. The US Army Contracting Command granted Hecker & Koch a USD 33 million contract in March 2020 for procuring squad-designated marksman rifles and compact semi-automatic sniper systems. Concurrently, the market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. This region's major economies emphasize modernizing their military systems, driving the Asia Pacific market growth.

Small Arms Market Drivers:
Some of the key drivers listed in the report are given below.
• Military modernization programs across NATO and allied nations fuel adoption of modular weapon platforms enhancing versatility through standardized accessory interfaces.
• Law enforcement procurement shifts emphasize lightweight materials and reduced-signature systems aligned with evolving tactical requirements in urban environments.
• Civilian market expansion continues in regions with permissive regulatory frameworks, particularly driven by first-time buyers seeking personal security options.
• Integration of smart technologies including electronic firing systems, biometric controls, and ballistic computers drives premium segment growth and upgrade cycles.
• Supply chain reshoring initiatives accelerate as governments prioritize domestic production capabilities for critical defense components, creating regional manufacturing opportunities.

Top Companies in the Small Arms Market:
Stratview Research has identified the following companies as the top market players.
• Sturm, Ruger & Co., Inc. (US)
• Kalashnikov Group (Russia)
• GLOCK Ges.m.b.H. (Austria)
• Smith & Wesson (US)
• Èeská Zbrojovka a.s. (Czech Republic)
• Israel Weapons Industry (IWI) (US)
• Heckler & Koch Gmbh (Germany)
• Colt's Manufacturing LLC (US).
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Small Arms Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

400 Renaissance Center, Suite 2600,
Detroit, Michigan, MI 48243
United States of America

Website: www.stratviewresearch.com
Mail Us: sales@stratviewresearch.com
Press: media@stratviewresearch.com

Call Us: +13133074176

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.