Global Small Arms Market to Witness Growth Through 2020, Owing to the Changing Dynamics of Urban Life: Technavio

LONDON--()--According to the latest market study released by Technavio, the global small arms market is expected to reach USD 6 billion by 2020.

This research report titled ‘Global Small Arms Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

In today's world of instability and volatility, safety and security have become a matter of concern for most civilians. This rising fear of attacks has led many citizens to adopt measures to ensure self-protection through personal ownership of small arms like handguns. In 2015, 62% of the overall market accounted for small arms held by civilians.

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The report categorizes the global small arms market into three major end-user segments. They are:

  • Civilian small arms market
  • Armed forces small arms market
  • Law enforcement small arms market

Civilian small arms market

As per estimates, there were approximately 880 million small arms and light weapons around the world in 2015. Most of these armaments are owned privately by civilians, and the possession includes both legal as well as illegal ones. In 2015, the civilians segment constituted the largest share of the market with over 62% of the global share.

The possession of small arms and lightweight weapons is fragmented among collectors, sports shooters and hunters, individuals (for safety and security measures), as well as organized crime sectors.

With the government's encouragement toward shooting sports, there is likely to be a positive impact on the sales of sports and hunting rifles and associated equipment, which is expected to post substantial growth in the civilian small arms segment.

Owing to concerns regarding self-defense, there is an increasing preference among couples, women, and elderly people to possess small arms. In line with such inclinations, companies are investing in the development of self-defense arms that individuals can easily carry in a small handbag. For instance, in February 2016, an Indian state-owned arm manufacturing company, Ishapore Rifle Factory, unveiled a revolver, called Nidar, which is claimed to be the lightest indigenously manufactured revolver in India. This revolver weighing 250 grams, is specially designed for women, and can easily be carried in their handbags.

Armed force small arms market

Automatic fire rifles or assault rifles are the most commonly used weapons among military forces across the globe. These are designed with an intermediate cartridge and a detachable magazine. Modern military forces also use semi-automatic rifles, machine guns, and hand-held grenade launchers. In 2015, the armed forces segment constituted almost 33% of the global market share.

According to Moutushi Saha, a lead analyst at Technavio for defense research, “The use of small arms and light weapons has been increasing steadily across the globe, with the growing number of close combat operations and urban warfare.” In order to meet the modern military demand, vendors are investing heavily in the technological enhancement of small arms and light weapons. In April 2016, Heckler & Koch unveiled a modified version of G28 semi-automatic sniper rifle for military use.

Law enforcement small arms market

The use of revolvers for law enforcement applications began in the mid-19th century. Over the years, many types of small arms, like pistols, rifles, and shotguns, have been used by the law enforcement agencies. In 2015, the law enforcement segment constituted approximately 5% of the global small arms market share.

Owing to technological advancements, coupled with the changing doctrines of law enforcement agencies in managing urban unrests, the requirement of advanced small arms and lightweight weapons has increased. “Thus, many countries have been investing in the enhancement of armaments used by their law enforcement agencies. In May 2015, the US Government decided to provide military grade equipment to its police forces in response to the growing magnitude of urban violence against them,” says Moutushi.

The top vendors highlighted by Technavio’s aerospace and defense research analysts in this report are:

  • Beretta
  • Heckler & Koch
  • HS Produkt
  • SIG SAUER
  • Smith & Wesson

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global small arms market is expected to reach USD 6 billion by 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com