Small Arms Market  Analysis Report 2024: Market to Grow by a CAGR of 19.12 to 2032, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships

Key Insights

The Small Arms Market size was valued at USD 8.53 USD Billion in 2023 and is projected to reach USD 29.03 USD Billion by 2032, exhibiting a CAGR of 19.12 % during the forecast period. Handguns are specialized weapons that anyone can use for self-defense and recreation. People in the military and law enforcement use small arms to refer to a variety of weapons such as rifles, shotguns, pistols, and the like. Guns are mostly used in sporting events, hunting, and self-defense, and the market is expected to grow rapidly in the future. Governments around the world have established restrictions and guidelines on the purchase and use of small arms. The proliferation of handguns in sporting events and the growing demand for self-defense handguns are major factors in the global growth of handguns. Several companies are working to build smart weapons that improve operational accuracy, efficiency and reliability. To prevent unauthorized users, smart guns are equipped with fingerprint sensors, RFID chips, biometric sensors and other advanced technologies. Authorized users help prevent criminal activity and violence using only smart weapons. When the biometric sensors recognize a fingerprint, handle or palm print, the weapon is activated. In the future, the market is expected to grow in demand for smart guns due to advanced features such as quick access, fingerprint recognition, long battery life and more.

Small Arms Trends

• Increasing civilian demand for self-defense weapons
• Growing adoption of small arms in law enforcement and homeland security
• Technological advancements in firearm design and functionality

Driving Forces: What's Propelling the Small Arms Market

• Heightened concern over personal safety and security
• Proliferating conflicts and terrorism incidents
• Technological advancements improving firearm accuracy and efficiency

Challenges and Restraints in Small Arms Market

• Stringent regulations on firearm ownership and licensing in many countries
• Public discourse and concerns surrounding gun violence and mass shootings
• Increasing competition from non-lethal self-defense alternatives, such as pepper sprays and stun guns
• Economic downturns and fluctuations impacting consumer spending on discretionary items like firearms
• Geopolitical uncertainties and conflicts potentially affecting supply chains and production

Emerging Trends in Small Arms

• Rise of non-lethal firearms for law enforcement and riot control
• Development of "smart" firearms with features like biometric recognition
• Adoption of advanced manufacturing techniques, such as 3D printing

Growth Catalysts in Small Arms Industry

• Rising demand for self-defense and personal protection firearms in certain regions
• Increased awareness and education on responsible firearm ownership and handling
• Technological advancements in firearm designs, materials, and optics
• Expansion of shooting sports and recreational activities involving firearms
• Government procurement and contracts for homeland security and military applications

Market Segmentation: Small Arms Analysis

Type:

• Handgun
• Rifles
• Shotgun

Application:

• Defense and Homeland Security
• Self-Defense
• Sports
• Hunting
• Law Enforcement

Leading Players in the Small Arms Market

• Kalashnikov Group (Russia)
• Smith & Wesson Brands Inc. (U.S.)
• Sturm, Ruger & Co., Inc. (U.S.)
• Heckler & Koch GmbH (Germany)
• American Outdoor Brands Corporation (U.S.)
• Glock Ges.m.b.H. (Austria)
• Remington Arms Compant LLC (U.S.)
• Colts Manufacturing LLC (U.S.)
• FN Herstal (Belgium)
• Israel Weapons Industries (Israel)

Significant developments in Small Arms Sector

• Launch of new firearm models with enhanced features
• Partnerships and mergers between leading manufacturers
• Government investments in advanced small arms technology

Comprehensive Coverage Small Arms Market Report

The Small Arms Market report provides a comprehensive analysis of the industry, including drivers, restraints, market segmentation, competitive landscape, and emerging trends.

Regional Insight

Regionally, the small arms market is segmented into North America, Europe, Asia-Pacific, MEA, and Latin America. North America continues to hold a significant market share due to a strong culture of firearm ownership, hunting, and recreational shooting. Europe also has a notable presence, driven by factors such as military and law enforcement procurement, sporting activities, and a growing civilian market. Asia-Pacific is projected to witness significant growth in the coming years due to rising population, increasing disposable income, and emerging markets for self-defense and hunting firearms.