Global Shoulder Fired Weapons Market.
Market Forecast
Global Shoulder Fired Weapons Market is projected to reach USD 8.57 billion and register a CAGR of 4.8% between 2019 and 2026.
The increasing defense expenditure and growing demand for portable anti-tank weapons are primarily driving the growth of the market. Additionally, the increasing demand for lightweight guided weapons is driving the growth of the market.
Market USP
Increasing use of portable weapon system
Growth Opportunities in the Market
The launcher segment is expected to record the highest growth in the market: The launcher segment accounted for the largest market share and is expected to register the highest CAGR during the review period. This is due to the high demand for launcher by the military forces globally.
The ammunition segment is expected to record steady growth during the forecast period due to the high demand for ammunitions only during warfare situations.
The guided segment is expected to witness the highest growth in the market: The guided segment is expected to register the highest CAGR during the review period. This is due to the increasing demand for guided weapon systems by the military forces globally. These weapons are used to precisely hit a specific target.
The unguided segment accounted for the largest market share in 2019. The unguided weapon systems are low in cost and are simple in design, thus are highly used by the military forces.
The medium range segment accounted for the largest share in 2019: The medium range segment accounted for the largest share in 2019. This is due to the increasing use of medium range weapon systems for destroying tanks and military bases from long distance.The high range segment is expected to register the highest CAGR during the forecast period. This is due to the increasing use of high range weapon systems for targeting enemy helicopters.
Key Players
Denel Soc Ltd (South Africa)
JSC SPA Bazalt (Russia)
KBP Instrument Design Bureau (Russia)
Lockheed Martin Corporation (US)
MBDA Holdings SAS (France)
Rafael Advanced Defense Systems Ltd (Israel)
Raytheon Company (US)
Roketsan AS (Turkey)
Saab AB (Sweden)
Thales Group (France)
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