Market Size of Light Weapons Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 6.00 % |
Fastest Growing Market | Latin America |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Light Weapons Market Analysis
The light weapons market is expected to register a CAGR of more than 6% during the forecast period (2022 - 2031).
The COVID-19 pandemic has had minimal impact on the light weapons market as the procurement programs of weapons by the armed forces remained on track.
The widening geopolitical rift in the Asia-Pacific and Middle-East and African regions has driven nations to increase their annual defense budget and expenditure to support the modernization of the arsenal of their armed forces. The characteristic advantage of light weapons to penetrate and disable heavily armored threats is expected to propel the growth of the market.
However, arms trafficking remains a major growth deterrence factor for the light weapons market as the increasing availability of light weapons in the black market leads to the development of organized crime, terrorism, human trafficking, and piracy, among others, which pose a security threat to a nation's integrity while presenting significant challenges for law enforcement agencies and governments on a global scale.
Light Weapons Industry Segmentation
Light weapons are generally defined as a class of firearms that are for use by two or more persons. These weapons can be man-portable as well as vehicle-mounted. The light weapons market is segmented by type, technology, and geography. By type, the market is segmented into heavy machine guns (HMGs), grenades and grenade launchers, mortars, man-portable anti-tank systems (MANPATS), man-portable air defense systems (MANPADS), and other types. The other types segment includes landmines, anti-material rifles, and other explosives used by the armed forces. The market is segmented by technology into guided and unguided. The report also covers the market sizes and forecasts for the Light Weapons Market in various countries across the major regions. For each segment, the market sizing and forecasts have been done based on value (USD billion).
Type | |
Heavy Machine Guns (HMGs) | |
Grenades and Grenade Launchers | |
Mortars | |
Man-portable Anti-tank Systems (MANPATS) | |
Man-portable Air Defense Systems (MANPADS) | |
Other Types |
Technology | ||||||
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Unguided |
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Light Weapons Market Size Summary
The light weapons market is poised for significant growth, driven by increasing defense budgets and the need for modernization in response to geopolitical tensions, particularly in the Asia-Pacific and Middle-East regions. The market's expansion is fueled by the inherent advantages of light weapons in penetrating heavily armored threats, making them essential in contemporary warfare scenarios. Despite challenges such as arms trafficking, which poses security threats and complicates law enforcement efforts, the demand for high-precision, lightweight, and compact weapon systems continues to rise. This demand is further bolstered by the evolution of urban warfare and technological advancements, leading to the development of sophisticated guided weapons and supporting accessories. The North American region, led by the United States, currently dominates the market due to substantial military investments aimed at countering threats from nations like China and Russia.
The market landscape is highly fragmented, with numerous manufacturers offering a wide range of weapon systems and ammunition. Key players such as General Dynamics Corporation, Saab AB, MBDA Inc., and Rheinmetall AG are actively expanding their portfolios through research and development. The competitive nature of the market is expected to intensify as local players enhance their capabilities. Notable developments include the procurement of advanced weapon systems by various countries, such as the Indian Army's contract for anti-tank guided missiles and Finland's acquisition of new rifle systems. These investments in modernization and technological advancements are anticipated to drive market growth, with companies focusing on developing cutting-edge products to maintain their market share during the forecast period.
Light Weapons Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2031)
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2.1 Type
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2.1.1 Heavy Machine Guns (HMGs)
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2.1.2 Grenades and Grenade Launchers
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2.1.3 Mortars
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2.1.4 Man-portable Anti-tank Systems (MANPATS)
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2.1.5 Man-portable Air Defense Systems (MANPADS)
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2.1.6 Other Types
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2.2 Technology
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2.2.1 Guided
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2.2.1.1 Laser Guided
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2.2.1.2 Infrared Guided
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2.2.1.3 Satellite Guided
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2.2.1.4 Semi-automatic Command to Line of Sight
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2.2.2 Unguided
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Germany
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Brazil
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2.3.4.2 Rest of Latin America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 United Arab Emirates
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2.3.5.3 Israel
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2.3.5.4 Rest of Middle-East and Africa
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Light Weapons Market Size FAQs
What is the current Light Weapons Market size?
The Light Weapons Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Light Weapons Market?
Saab AB, MBDA, Rheinmetall AG, General Dynamics Corporation and Rostec are the major companies operating in the Light Weapons Market.