Small Arms Market Size (2024 - 2029)

The small arms market is projected to experience growth driven by increased defense spending and the demand for advanced military rifles. As countries focus on upgrading their infantry equipment and developing lightweight, accurate small arms, the market is expected to expand. This growth is supported by technological advancements and a shift towards localized manufacturing, despite challenges such as technological constraints and high setup costs. While stringent gun control measures pose challenges for the civilian market, the overall market size is anticipated to grow as nations enhance their defense capabilities.

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Market Size of Small Arms Industry

Small Arms Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 9.5 Billion
Market Size (2029) USD 11.31 Billion
CAGR (2024 - 2029) 3.54 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Small Arms Market Major Players

*Disclaimer: Major Players sorted in no particular order

Small Arms Market Analysis

The Small Arms Market size is estimated at USD 9.5 billion in 2024, and is expected to reach USD 11.31 billion by 2029, growing at a CAGR of 3.54% during the forecast period (2024-2029).

The global surge in defense spending and infantry equipment upgrades drive the demand for more advanced and lethal military rifles. Simultaneously, many nations prioritize developing lightweight, accurate small arms, emphasizing indigenous innovation. Rapid technological advancements bolster these trends.

As battlefields evolve, countries are increasingly seeking advanced small arms. Rising defense budgets, border tensions, and the need to enhance defense capabilities further propel the demand for small arms. Many nations are phasing out aging arms in favor of newer, longer-lasting models with improved storage and handling. This shift, alongside a notable trend toward localized manufacturing, is set to fuel the small arms market in the coming years. However, indigenous production faces challenges due to technological constraints, potentially dampening market demand.

While some countries have stringent regulations on individual gun ownership, a rise in gun-related suicides and violence has prompted heightened gun control measures globally, posing a challenge for the civilian small arms market. Despite a growing interest in small arms manufacturing, the high set-up costs present a barrier for new entrants. While governments are rolling out defense-industrial initiatives, the economic viability of establishing local industries remains uncertain.

Small Arms Market Industry Segmentation

Small arms are individual-service kinetic projectile firearms. These include handguns (revolvers and pistols), shotguns, rifles (assault rifles, sniper rifles, anti-materiel rifles, carbines, etc.), and machine guns (submachine guns, automatic weapons, and light machine guns).

The small arms market is segmented by end user, type, and geography. By end user, the market is segmented into civil and law enforcement and military. By type, the market is segmented into handguns, machine guns, shotguns, and rifles. The report covers the market sizes and forecasts for the small arms market in major countries across different regions. For each segment, the market size and forecasts are provided in terms of value (USD).

End User
Civil and Law Enforcement
Military
Type
Handgun
Machine Gun
Shotgun
Rifle
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
Egypt
Rest of Middle East and Africa
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Small Arms Market Size Summary

The small arms market is poised for growth, driven by increasing global defense spending and the need for advanced military rifles. As countries face evolving battlefield dynamics, there is a heightened demand for lightweight and accurate small arms, with a focus on indigenous innovation and technological advancements. This demand is further fueled by rising defense budgets, border tensions, and the necessity to enhance defense capabilities. The market is witnessing a shift towards newer, more durable models, with an emphasis on localized manufacturing. However, challenges in indigenous production due to technological constraints may impact market demand. The military segment is expected to experience significant growth, with nations investing in military modernization programs to acquire advanced weaponry, as seen in countries like Germany, France, India, China, and Russia.

North America, led by the United States and Canada, is anticipated to dominate the small arms market, driven by robust defense spending and the need to counteract advancements in weaponry by traditional rivals. The U.S. military's involvement in various operations, including peacekeeping and embassy security, further fuels the demand for small arms. The market landscape is fragmented, with numerous players like Sturm, Ruger & Co. Inc., Sig Sauer Inc., and Heckler & Koch GmbH holding significant shares. These companies are focusing on developing durable, precise, and ergonomic products to attract new customers. Despite the challenges posed by stringent gun control measures in some regions, the market remains competitive, with countries enhancing local production capabilities and engaging in international collaborations to boost small arms manufacturing.

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Small Arms Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 End User

      1. 2.1.1 Civil and Law Enforcement

      2. 2.1.2 Military

    2. 2.2 Type

      1. 2.2.1 Handgun

      2. 2.2.2 Machine Gun

      3. 2.2.3 Shotgun

      4. 2.2.4 Rifle

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 Rest of Middle East and Africa

Small Arms Market Size FAQs

The Small Arms Market size is expected to reach USD 9.5 billion in 2024 and grow at a CAGR of 3.54% to reach USD 11.31 billion by 2029.

In 2024, the Small Arms Market size is expected to reach USD 9.5 billion.

Small Arms Market Report Snapshots

Small Arms Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)