Rising war platforms around the world drives the Global Weapons Market
The global Weapons Marketwas worth USD 6.0 billion in 2020, and it is predicted that it will reach a valuation of USD 8.7 billion by the end of 2025 at a CAGR of 7.8% during the outlook period.
The weapons industry comprises facilities dedicated to the manufacture of weapons such as small arms and ammunition, weapon accessories, bombs, depth charges, rocket launchers, grenades, mines, torpedoes, and others.
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Market Drivers and Restrains:
The increased demand for weapons can be attributed to a number of factors, including increased interest in hand-to-hand combat systems, upgrades to existing armored platforms, the need for a connected warfare system, and the safety of soldiers in situations similar to war. Factors such as the growing demand for precision weapon systems in emerging countries, the advancement of ground warfare systems, continuous upgrades of existing combat platforms, and prior interconnection are expected to lead the global weapons market during the outlook period. The changing nature of warfare is changing the dynamics of demand for weapons around the world.
Recently, countries are choosing smart weapons. Smart gun technology has recently attracted the attention of manufacturers. This technology can reduce accidental and criminal shooting due to its safety features that only authorized users can shoot. At the same time, the risk of cause and effect relationships increases, even with some errors. Most weapons are powered by lasers and similar advanced technologies. As a result, it offers high precision, stable shots, and fast hitting capabilities. In addition, the light weight of the weapon minimizes the cost of logistics transport. Together, all these factors are increasing the rate of adoption of smart weapons in the defense system to strengthen the national security system. However, strict gun regulations applied in several countries are likely to limit the growth of the weapons market in the coming years.
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Report is segmented as:
On the basis of end use, the global weapons market has been segmented into naval, airborne, land, portable and stationary. The land segment is expected to grow at the highest CAGR during the forecast period. These war platforms require weapon systems that can work semi-automatically and fully automatically.
Depending on the product, the arms market is dominated by the segment of automatic rifles. Automatic rifles keep firing until the last round, while self-loading or semi-automatic rifles require you to pull the trigger after each shot. The automatic rifles segment is expected to occupy the largest share of the global weapons market in future, given mass production and demand in Europe and the United States.
North America is estimated to have the largest share and Asia Pacific is expected to grow at the highest CAGR during the foreseen period. One of the key factors driving the North American weapons market is the constant updating of the war platform with new technologies. The United States is a major country that is increasingly investing in automatic weapons and related technologies. Also, the Asia Pacific is expected to follow North America. This is due to the increase in the military budget and increasing investments in smart weapons in emerging economies like India and China.
Key market players:
Key players covered in the global Weapons market report include Northrop Grumman, General Dynamics Corporation, ST Engineering, Rheinmetall AG, Heckler & Koch AG, KBP Instrument Design Bureau, Colt's Manufacturing Company LLC, FN Herstal, and Ukroboronprom.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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