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. Read More

What is the current Automatic Weapons Market size?

In 2024, the Automatic Weapons Market size is expected to reach USD 9.47 billion. Read More

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. Read More

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). Read More

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. Read More

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. Read More

Automatic Weapons Market - Forecast & Industry Size

Automatic Weapons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Automatic Weapons Market is Segmented by Type (Automatic Rifle, Machine Gun, Automatic Launchers, Automatic Cannon, and Gatling Gun), Platform (Land, Airborne, and Naval), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

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.