DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Small Arms Light Weapons (SALW) Market Analysis By Type (Small Arms, Light Weapons), By Application (Military, Law Enforcement), By Region (North America, Europe, Asia Pacific, Rest of the World), And Segment Forecasts, 2014 - 2024" report to their offering.
The global small arms light weapons market is expected to reach USD 25.76 billion by 2024.
The increasing issues on human rights and safety and security are expected to drive the demand. The increasing effects of urban warfare along with increasing terrorism incidents have also led to the development of the small arms light weapons across various regions. An increase in the urban warfare along with increased terrorist activity is anticipated to propel the market growth. The development of light-weight weapons for further enhancement of defense system is an ongoing trend in the developed countries.
Increasing criminal activities and human rights violations have resulted in the increased efforts for the technology advancements and modernization of the weapons utilized by law enforcement. The Combat Development and Integration Command's Fires and Maneuver Integration Division of marines introduced the small arms modernization strategy which is expected to focus on updating and developing the current weapons in short-term and futuristic systems that could hit the fleet in the 2020s.
Further key findings from the study suggest:
- In 2015, light weapons market accounted for over 60% of the overall market share and is also expected to significantly growth over the forecast period. The implementation of modernization programs for police and the military forces is expected to drive the growth.
- Rifles in small arms segment are expected to witness a significant growth at a CAGR of over 20% over the forecast period. The increasing interest of civilians in the shooting sports is expected to be the reason for growth.
- Grenade and grenade launchers are expected to witness enormous growth in the light weapons segment owing to increased stress between countries and increased development of grenade launchers.
- The military application segment is anticipated to witness substantial growth and is estimated to reach over USD 13.0 billion by 2024. The widespread geographic presence of terrorism and human rights violation had led to the increased demand of light weapons market. Increased violation of civilians rights and law enforcement regulations have also triggered its growth.
- The Asia Pacific SALW market is anticipated to grow at a CAGR of over 25% over the forecast period. Increasing technology and economic developments in the emerging countries such as China and India with their cross-border disputes has contributed to the growth.
- Notable companies operating in the SALW market include Raytheon, Beretta S.p.A., GLOCK Ges.m.b.H., and FN Herstal SA
- General Dynamics Corporation
- FN Herstal SA
- Sturm, Ruger & Co.
- SIG Sauer GmbH
- Colt's Manufacturing Co. LLC
- Carl Walther GmbH
- Lockheed Martin Corporation
- Glock Ges.m.b.H.
- Browning Arms Company
- Beretta S.p.A
- Smith & Wesson Holding Corporation
- Kalashnikov Concern
For more information about this report visit http://www.researchandmarkets.com/research/cdcbj8/small_arms_light