This market research report includes a detailed segmentation of the global light weapons market by weapons type (unguided weapons, anti-tank guided weapon, and MANPAD). It also outlines the market shares for key regions such as the Americas, EMEA, and APAC. The key vendors analyzed in this report are BAE Systems, FN Herstal, Orbital, Raytheon, and Rheinmetall.
Technavio’s market research analysts estimate the global light weapons market, to grow at a CAGR of 5% by 2020. Light weapons are very popular among military groups, police, and civilians, owing to their widespread availability, simplicity, durability, portability, cost-effectiveness, lethality, and easy concealment. With the changing techniques of modern warfare, army and law enforcement forces are expected to upgrade and implement the use of small arms and light weapons (SALW). The Americas accpount for 46% of the overall market share, because they export weapons across the world on a large scale.
“The shift towards digitization of guns is gaining popularity in the defense world and is expected to fuel the growth of the market in the forecast period. Gun-centric apps, high-tech weapons, and tech-infused optical shooting scopes are being introduced in the market. While many of these apps and firearms are making innovations toward targeting a shot perfectly or gathering the shooter ballistics information, some new inventions are focusing on making guns safer,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
The unguided weapons segment is the largest revenue-contributing segment in the light weapons market. Unguided weapons such as heavy machine guns, grenade launchers, infantry mortars, grenades light cannons, recoilless rifles, man-portable anti-tank systems (MANPATS), and landmines are increasingly used in military operations, thus leading this segment towards the upward trajectory.
The key vendors in the global light weapons market are BAE Systems, FN Herstal, Orbital, Raytheon, and Rheinmetall. End-users in the global light weapons market are shifting their focus from quantity to quality, and also giving significant importance on cost-efficient products. As a result, vendors need to provide not only cost-efficient and exceptional quality products but also provide an upgrade and retrofit solutions to cater to the modern military needs, which poses a major challenge for the vendors
A more detailed analysis is available in the Technavio report, Global Light Weapons Market 2016-2020.
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