Small Arms and Light Weapons Market to Witness Significant Growth in the Coming Years
In addition, rising number of illegal activities in urban areas has led to the adoption of small weapons by various law enforcement and homeland security personnel. Small arms are best suited for counter attacks in such situations. Moreover, increasing instances of terrorist activities and conflicts have led to encounters and close quarter combat scenarios. In such situations, small arms are the most suitable weapon of choice. The impact of this driver is presently high and is expected to remain high throughout the forecast period
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Drug trafficking is a major issue, which in turn gives rise to numerous anti-social activities. The U.S. is one of the biggest victims of this problem as cocaine, heroin, marijuana, and methamphetamines are illegally imported from neighboring nations quite easily. Underground organizations of Colombia and Mexico produce bulk amounts of the drugs that reach the U.S. markets. Weak penal and judicial institutions of these countries indicate that their struggle against drug trafficking will continue for years to come. Consequently, the impact of this driver (drug trafficking) on the adoption of SALW is expected to remain high throughout the forecast period
By type, the market is segmented into two different classes of weapons; small arms and light weapons. Small arms refer to weapons designed solely for individual use. Small arms include pistols, rifles, handguns, shotguns, man-portable machine guns and others, whereas light weapons include arms designed to be used by a crew of two or three persons. It comprises landmines, mortars, grenade launchers, rocket launchers, Rocket Propelled Grenades (RPGs), anti tank weapons, anti aircraft weapons and others. Small arms and light weapons (SALW) are widely used in military defense, homeland security, and civil utilities among others.
In terms of application, market is segmented into military, law enforcement and others which include civilian, trainers and hunters among others. The military segment was the largest segment of the Small Arms and Light Weapons (SALW) market in 2014 in terms of revenue and is expected to maintain its dominance throughout the forecast period.
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Recent trends have shown that 3D printed guns and corner shot rifles are emerging trends of the small arms and light weapons market. The market has also experienced technological advancements such as the corner shot, which is a highly technological system that can be attached to most of the handguns such as the Sig Sauer, Glock, and Beretta and are extensively used by the Special Forces
On the basis of geography, market has been segmented into four categories North America, Europe, Asia Pacific and Rest of the World (RoW). Europe occupied the largest share in the market in 2014 accounting for more than 30%, whereas North America was the second largest market in 2014.
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Some of the major players in the market are Heckler & Koch GmbH (Oberndorf am Neckar, Germany), General Dynamics Corporation (Virginia, U.S.), FN Herstal S.A. (Herstal, Belgium), Sturm, Ruger & Company, Inc. (Connecticut, U.S.), SIG SAUER GmbH & Co. (Eckernförde, Germany), Colt's Manufacturing Company LLC (Connecticut, U.S.), Carl Walther GmbH (Ulm, Germany), Lockheed Martin Corporation(Maryland, U.S.), Glock Ges. m.b.H. (Deutsch Wagram, Austria), Browning Arms Company (Utah, U.S.) and Beretta S.p.A. (Gardone Val Trompia, Italy) among others.
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