Press release
Shoulder Fired Weapons Market to Reach USD 14.28 Billion by 2030 at 9.92% CAGR
Shoulder Fired Weapons Market
Expected Market Growth and Valuation of the Shoulder Fired Weapons Industry
The shoulder-fired weapons market is projected to experience robust expansion, reaching a value of $14.28 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 9.9% during the forecast period. Factors contributing to this upward trajectory include rising demand for next-generation shoulder-fired weapons that offer improved accuracy and longer range, as well as increased adoption of guided shoulder-fired systems designed for precision targeting. Additional growth drivers are investments in lightweight and ergonomic designs that enhance soldier mobility, expanding procurement activities by emerging economies seeking affordable anti-armor options, and the anticipated rise in integrated after-sales and lifecycle support services bundled with new weapons systems. Key trends expected to influence the market involve miniaturization and weight reduction, incorporation of advanced targeting technologies, broader use of multi-purpose ammunition, innovations in recoil reduction and stabilization, and growing tactical applications in urban defense environments.
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Key Companies Leading the Shoulder Fired Weapons Sector
Several major players dominate the shoulder-fired weapons landscape, including China North Industries Group Corporation, Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems plc, Thales Group, Singapore Technologies Engineering Ltd., Rheinmetall AG, Saab AB, Rafael Advanced Defense Systems Ltd., Poongsan Corporation, John Cockerill, Chemring Group plc, Fabrique Nationale Herstal S.A., Mesko S.A., Bharat Dynamics Limited, Denel Land Systems, JSC Arsenal AD, AirTronic USA LLC, Instalaza S.A., Roket Sanayii ve Ticaret A.S., JSC Konstruktorskoe Buro Priborostroeniya, and Giat Industries SASU.
A notable development in this sector occurred in January 2023 when Australian defense supplier NIOA acquired Barrett Firearms Manufacturing, a US-based company that designs and produces shoulder-fired weapons, for an undisclosed sum. This acquisition allows NIOA to strengthen its position in the defense market by leveraging Barrett's expertise in long-range precision rifles, ensuring the continued supply of high-quality firearms and ammunition to military and law enforcement clients worldwide.
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Emerging Trends Shaping the Shoulder Fired Weapons Market
Leading manufacturers in the shoulder-fired weapons market are focusing heavily on the creation of lightweight, shoulder-launched missile systems aimed at improving infantry mobility, increasing engagement distances, and enhancing precision against modern armored and fortified targets. These portable missile systems are designed to be carried and fired by a single soldier from the shoulder, providing a compact yet highly effective solution for various tactical scenarios.
For example, in October 2024, Israel Aerospace Industries introduced the Teaser missile, noted for its resilience against electronic warfare tactics like GPS jamming. This infantry-use missile combines portability with precision targeting capabilities reaching up to 2,500 meters. Its standout feature is an external optical guidance system that renders it immune to electronic countermeasures. The missile is affordable, user-friendly with minimal training, and versatile enough to engage personnel, light armor, and structures, marking a significant advancement in modern tactical warfare.
Detailed Segmentation and Comparative Overview of the Shoulder Fired Weapons Market
The report categorizes the shoulder-fired weapons market into several key segments to provide a comprehensive understanding of the industry:
1) By Type: Guided and Unguided weapons
2) By Component: Launcher and Ammunition
3) By Application: Defense, Home Security, and Others
Further subsegments within these categories include:
- Guided weapons such as Anti-Tank Guided Missiles (ATGMs), Surface-To-Air Missiles (SAMs), and Precision Guided Munitions
- Unguided weapons including Rocket-Propelled Grenades (RPGs) and Shoulder-Fired Rockets
This segmentation highlights the diversity within the market and aids stakeholders in identifying specific areas of growth and investment opportunities.
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