Man-Portable Anti-Armor Weapons Market on Path to Hit $7.8 Billion by 2029 at 5.8% CAGR

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Man-Portable Anti-Armor Weapons Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the market size of man-portable anti-armor weapons has seen substantial growth. The market is projected to expand from $5.91 billion in 2024 to $6.23 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. The notable development in the past can be credited to enhancements in precision and lethality, adaptability to threats, geopolitical matters and demand, cost-effectiveness and affordability, versatility, along with multi-role capability.

What Is the Expected CAGR for the Man-Portable Anti-Armor Weapons Market Growth Through 2029?
The market for man-portable anti-armor weapons is forecasted to experience robust growth in the coming years, anticipating to reach a value of $7.8 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 5.8%. The predicted growth within this period can be linked to factors such as miniaturization and increased portability, a heightened focus on lethal and precise capabilities, and the emergence of smart, network-enabled systems, coupled with the necessity for cost-efficiency. Key trends anticipated during this forecast period encompass regulatory and geopolitical influences, measures towards cost-effectiveness, the integration and adaptation of modern threat technologies, and a heightened attention on precision and lethality.

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What Are the Primary Drivers Behind Man-Portable Anti-Armor Weapons Market Growth?
The escalation in the defense budgets is anticipated to boost the expansion of the man-portable anti-armor weapons market. The funds allocated in the federal budget for defense, which covers personnel, training, and medical care costs, as well as upkeep and procurement of weapons and machinery constitute the defense budget. This surge in defense budgets facilitates the deployment of expensive, yet crucial missile defense system technologies. For example, a study released by the Sweden-based Stockholm International Peace Research Institute (SIPRI) in April 2024 showed that global military expenditure reached $2.443 trillion in 2023, demonstrating a 6.8% rise in real terms compared to 2022. Consequently, the augmentation in defense budgets is leading to the progress of the man-portable anti-armor weapons market.

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What Are the Key Segments Driving Man-Portable Anti-Armor Weapons Market Growth?
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

What Are the Technological Trends Impacting the Man-Portable Anti-Armor Weapons Market?
Leading companies existing in the field of man-portable anti-armor weapons market are channeling their efforts towards the creation of new products like the portable missile system with an aim to fortify their market standing. A man-portable air-defense weapon, commonly referred to as a portable missile system, is used by individuals or small groups to attack aircraft, helicopters, or land vehicles. It brings advantages due to its quick deployment and high mobility in many combat situations. In a recent development, the Defence Research and Development Organization of India, a military R&D agency, in August 2024, announced the successful test-firing of the domestically designed Man-Portable Anti-Tank Guided Missile (MP-ATGM). Weighing 14.5 kg along with an additional 14.25 kg for the command launch unit (CLU), it is highly portable. It comes equipped with a HEAT warhead capable of demolishing tanks and armored vehicles. This missile has an operational range of 200 meters to 4 kilometers and uses an advanced IIR sensor and avionics for precision targeting from the top. Its cylindrical construct, measuring 130 cm long and 12 cm thick, is launched from a foldable tripod and tube.

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Who Are the Major Competitors in the Global 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

Which Region Dominates the Man-Portable Anti-Armor Weapons Market Share in 2025?
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

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