The new report by Expert Market Research titled, ‘Global Automatic Weapons Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global automatic weapons market, assessing the market based on its segments like types, products, calibres, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): About USD 7.41 Billion
- Forecast CAGR (2022-2027): 94%
- Forecast Market Size (2027): Nearly USD 11.72 Billion
The market is being driven by the rising military and defence budgets across the world owing to the growing cross-border conflicts between different countries.
The utilisation of automatic weapons has increased in recent years owing to the rise in number of advanced weapons being manufactured worldwide for strengthening the military, hence driving the growth of the market.
The enhancing focus on close combat situations and the rising requirement to ensure the safety of military personnel are propelling the growth of the market. In addition to this, the shift towards the modernisation of military equipment is positively influencing the growth of the market for automatic weapons.
Industry Definition and Segmentation
Automatic weapons refers to a combination of fully automatic and semi-automatic firearms. These weapons fire rounds constantly as long as the trigger is pressed or as long as there is ammunition in the chamber. Automatic weapons find their applications in the military and defence sector.
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On the basis of type, the market can be divided into:
- Fully Automatic
Based on product, the market can be segmented into:
- Automatic Rifle
- Machine Gun
- Automatic Launchers
- Automatic Cannons
- Gatling Guns
The market, based on calibre, can be categorised into:
- Small Calibre
- Medium Calibre
- Large Calibre
On the basis of end use, the market can be divided into:
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth in the global market for automatic weapons can be associated with rapid advancements in weapon technology. The incorporation of advanced features like heavy barrels to avoid overheating during prolonged engagements, a bipod, and the capacity to carry more ammunition easily of weapons is expected to fuel the market growth.
In addition to this, the growing demand for automatic weapons with high tech lightweight firearms is estimated to aid the growth of the market. The introduction of smart weapons with developed and innovative features like biometric reading and RFID sensors to prevent accidents and mishandling of military weapons are anticipated to boost the market growth in the coming years.
Key Market Players
The major players in the market are General Dynamics Corporation, Northrop Grumman, Rheinmetall AG, ST Engineering, KBP Instrument Design Bureau, and Heckler & Koch AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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