Automatic Weapons Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.47 Billion |
| Market Size (2029) | USD 13.59 Billion |
| CAGR (2024 - 2029) | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automatic Weapons Market Analysis
The Automatic Weapons Market size is estimated at USD 9.47 billion in 2024, and is expected to reach USD 13.59 billion by 2029, growing at a CAGR of 7.5% during the forecast period (2024-2029).
The growing defense spending, especially from the developing countries, is the main growth driver for the market, as it is giving the necessary impetus to the procurement plans. Many countries are trying to modernize the weapons of their military personnel, for which they are procuring the latest firearms to equip their militaries. In this regard, advanced weapon systems with increased automation are being developed and purchased. The rise of automatic weapons procurement is also due to the growing internal conflicts among various countries around the world. Cross-border disputes between Turkey and Cyprus, India and China, and Russia and Ukraine led to regional conflicts, which led to the procurement of advanced weapons.
Moreover, the utilization of automatic weapons increased due to the rapid production of sophisticated weapons, trends linked to the modernization of defense equipment in key developing countries. In addition, the need for precision weapon systems increased the focus on advanced weapons to counter increasing incidents of terrorism. The introduction of high-tech, light automatic weapons and intelligent weapons is also fuelling the market growth.
Automatic Weapons Market Trends
Land Segment to Witness Highest Growth During the Forecast Period
Growing land-based border issues and the increasing focus on close combat systems are the main reasons for the growth of the land segment. With the increase in military engagements globally, the armed forces are upgrading to more powerful, automated cartridges to deal with combat requirements. Additionally, with the armor being worn by the militaries becoming tougher to penetrate, the armies are focusing on firearms that cause cyclical impacts, causing more damage to the enemies.
Moreover, countries are increasing the size of their troops due to the rise in cross-border conflicts. In January 2023, Poland raised its defense spending to 4% of GDP from 2.4%. The country plans to grow to 250,000 professional military personnel.
Modernization is also a driver for the demand for automatic weapons. On this note, in April 2022, SIG Sauer Inc. won a 10-year production contract from the US Army to supply two new soldier rifles: XM5 and OMC250. For soldiers involved in close-quarters combat, the XM5 will replace the M4/M4A1 carbine rifle, and the XM250 will replace the M249 Squad Automatic Weapon. Additionally, both new rifles will use the new 6.8 mm common cartridge family of ammunition as well as a new fire control system. The value of the initial delivery order on the contract was USD 20.4 million for weapons and ammunition. The contract includes accessories, spares, and contractor support. Similarly, in May 2023, Singapore's Ministry of Defence (MINDEF) selected the Colt Infantry Automatic Rifle (Colt IAR) as its next standard-issue automatic weapon for the Singapore Army. The Colt IAR will replace the ST Engineering Land Systems' Ultimax 100, which was in service with Singapore's military since 1982 in its Mk.2 and Mk.3 subvariants.
North America to Dominate Market Share During the Forecast Period
Countries in North America, such as the US, are investing large sums in the soldier modernization programs, through which they are also procuring new automatic firearms for the armed forces. The US Army's 2023 fiscal year budget request calls for the service to acquire 1,704 automatic rifles, 17,164 fire control modules, and 16,348 rifles. The US military maintains stocks of various foreign-made arms for use by special operations forces (SOF) in training exercises to arm those replicating the enemy or local partner forces and also for different research and development and test and evaluation purposes.
Moreover, in November 2022, the US Army planned to purchase Russian-made 5.45x39mm AK-74 assault rifles or copies made in other countries. The Army Contracting Command-New Jersey (CCNJ) issued a notice for the US Government's interest in AK-74-type Kalashnikov assault rifles and support parts suppliers. The notice included the list of standard arrays of accessories to go along with the refile: a Shoulder sling, four magazines, a cleaning kit, an oil bottle, and a user manual.
Automatic Weapons Industry Overview
The automatic weapons market is semi-consolidated in nature due to the presence of a few players holding significant shares in the market. Northrop Grumman Corporation, General Dynamics Corporation, Sig Sauer, Inc., Rheinmetall AG, and BAE Systems plc are some of the major players in the market.
The automatic weapons industry saw many changes in the recent past, and weapons nowadays are made based on the specific requirements of the military. Producing a better range of lightweight products will be helpful to the players in obtaining newer contracts. Additionally, with the increasing offshore war zone deployments, the militaries are now looking at firearms that are durable for years and are usable in all environmental conditions.
In this regard, the manufacturers are developing different parts of the weapons with materials that will be of best use, even in hostile conditions. With the contracts for automatic weapons being done with large procurement volumes, players are being very competitive in terms of product offerings. It is to gain new contracts, which generally amount to tens of thousands of rifle sales in a single contract.
For instance, during 2022, Sig Sauer and the US Government carried out numerous technical tests as well as a soldier touch point in relation to the most recent weapon configuration. The objective of this engagement was to obtain user acceptance, load carriage, and integration into the XM157 fire control optic developed by Vortex Optics Inc., which would be mounted on any XM7 or XM250 automatic rifle. The US Army will carry out an operational test with a view to determining conditions for the first unit equipped by the year 2024. Future operational testing is planned for 2023 to assess natural environments and airborne qualifications.
Similarly, in July 2021, the Ordnance Factory (Tamil Nadu, India) launched a mini version of the Trichy Assault Rifle 'TriCa.' Trica is a high-tech and low-sound weapon designed for helicopter crews, security personnel, infantry combat vehicles, and special operation forces. The advantage of TriCa is that it can use interchangeable parts, ammunition, and magazines for AK-47 and TAR.
Automatic Weapons Market Leaders
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Rheinmetall AG
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BAE Systems plc
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Sig Sauer, Inc.
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General Dynamics Corporation
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Northrop Grumman Corporation
*Disclaimer: Major Players sorted in no particular order
Automatic Weapons Market News
- March 2023: the Estonian Defense Investment Centre awarded an order to Israel's IWI for the supply of 1,000 NG7 "Negev" light machine weapon systems to the Estonian Army. The "Negevv" machine guns, which are expected to be delivered towards the end of 2023, will take over from MG3 and KSP-58 machines that are already in use. NEGEV 7.62 LMG is a NATO 7.62x51mm Light machine gun, which is used by many countries worldwide.
- February 2022: The US Army awarded FN America with a USD 49 million contract to supply M240L medium machine guns and titanium receivers. The M240L, which is roughly 18% lighter than the M240B, was adopted in 2010 after a joint effort by FN and the US Army. It is to reduce overall weight while maintaining the performance and durability of the machine gun.
Automatic Weapons Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Automatic Rifle
- 5.1.2 Machine Gun
- 5.1.3 Automatic launchers
- 5.1.4 Automatic Cannon
- 5.1.5 Gatling Gun
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5.2 Platform
- 5.2.1 Land
- 5.2.2 Airborne
- 5.2.3 Naval
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 France
- 5.3.2.4 Russia
- 5.3.2.5 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Latin America
- 5.3.4.1 Brazil
- 5.3.4.2 Rest of Latin America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 South Africa
- 5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 General Dynamics Corporation
- 6.2.2 Northrop Grumman Corporation
- 6.2.3 Rheinmetall AG
- 6.2.4 Denel Land Systems
- 6.2.5 BAE Systems plc
- 6.2.6 Sig Sauer, Inc.
- 6.2.7 Israel Weapon Industries (IWI) Ltd.
- 6.2.8 Singapore Technologies Engineering Ltd
- 6.2.9 Heckler & Koch GmbH
- 6.2.10 FN HERSTAL (Herstal Group)
- 6.2.11 Colt's Manufacturing Company LLC
- 6.2.12 UkrOboronProm
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAutomatic Weapons Industry Segmentation
Automatic guns can fire more than one shot at the same time with a single trigger pull. It is used in combat to maximize the odds of a hit and suppress enemy troop movement. Fully automatic firearms, such as machine guns, sub-machine guns, and assault rifles, have been widely used by various Army for more than a century.
The automatic weapons market is segmented by type, platform, and geography. By type, the market is segmented into automatic rifles, machine guns, automatic launchers, automatic cannons, and Gatling guns. By platform, the market is segmented into land, airborne, and naval. The report also covers the market sizes and forecasts for the automatic weapons market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Type | Automatic Rifle | |
| Machine Gun | ||
| Automatic launchers | ||
| Automatic Cannon | ||
| Gatling Gun | ||
| Platform | Land | |
| Airborne | ||
| Naval | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Brazil |
| Rest of Latin America | ||
| Geography | Middle-East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| South Africa | ||
| Rest of Middle-East and Africa |
Automatic Weapons Market Research FAQs
How big is the Automatic Weapons Market?
The Automatic Weapons Market size is expected to reach USD 9.47 billion in 2024 and grow at a CAGR of 7.5% to reach USD 13.59 billion by 2029.
What is the current Automatic Weapons Market size?
In 2024, the Automatic Weapons Market size is expected to reach USD 9.47 billion.
Who are the key players in Automatic Weapons Market?
Rheinmetall AG, BAE Systems plc, Sig Sauer, Inc., General Dynamics Corporation and Northrop Grumman Corporation are the major companies operating in the Automatic Weapons Market.
Which is the fastest growing region in Automatic Weapons Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automatic Weapons Market?
In 2024, the North America accounts for the largest market share in Automatic Weapons Market.
What years does this Automatic Weapons Market cover, and what was the market size in 2023?
In 2023, the Automatic Weapons Market size was estimated at USD 8.76 billion. The report covers the Automatic Weapons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automatic Weapons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automatic Weapons Industry Report
Statistics for the 2024 Automatic Weapons market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automatic Weapons analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
