Light Weapons Market 2022 | Top Companies Overview, Industry Share, Size, Analysis, Report and Forecast by 2027
The global Light Weapons market size reached US$ 12.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 17.11 Billion on by 2027, exhibiting a growth rate (CAGR) of 5.25% during 2022-2027.
At 5.25% CAGR, Global Light Weapons Market Size & Share to Surpass US$ 17.11 Billion by 2027 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC
Global Light Weapons Market Overview (2022-2027)
• Historical Market Size (2021):US$ 12.34 Billion
• Forecast CAGR (2022-2027): 5.25%
• Forecast Market Size (2027):US$ 17.11 Billion
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is a the Light Weapons Market ?
Light weapons represent a group of weapons that are mostly designed to be utilized by one or more than one crew members. They can be categorized into heavy machine guns (HMGs), mortars, grenades, grenade launchers, man-portable air defense systems (MANPADS), man-portable anti-tank systems (MANPATS), etc., and involve the usage of various technologies, including infrared guided technology, satellite-guided technology, and others.
Light weapons have several advantageous features, such as lower production cost, durability, portability, concealability, etc., and are predominantly adopted by defense forces in combat missions and naval operations. Consequently, they find extensive applications across numerous sectors, including military, defense, homeland security, etc.
What are the major market drivers in a Light Weapons market ?
The expanding military and defense segment, especially in developing countries, is primarily driving the light weapons market.
In addition to this, the elevating adoption of precision-guided firearms integrated with refined features, such as fire control, targeting, and advanced head-up display technologies, is acting as another significant growth-inducing factor.
Moreover, the inflating investments in research and development (R&D) activities conducted by leading weapon manufacturers and the escalating employment of state-of-the-art procedures in weapon manufacturing, which include the incorporation of artificial intelligence (AI) and integration of laser systems in light cannons, are further stimulating the market growth.
In line with this, the introduction of a higher range of anti-tank missiles is also positively influencing the global market. Besides this, the increasing instances of terrorism, political unrest between neighboring countries, and cross-border disputes, the growing military modernization programs, and the rising defense expenditure across the globe are expected to bolster the light weapons market over the forecasted period.
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The report has been segmented the market into following categories:
Breakup by Type:
Heavy Machine Guns (HMGs)
Grenades and Grenade Launchers
Man-portable Anti-tank Systems (MANPATS)
Man-portable Air Defense Systems (MANPADS)
Breakup by Technology:
Semi-automatic Command to Line of Sight
Breakup by Application:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The major players in the market Atlas Copco AB BAE Systems plc, FN Herstal (Herstal Group), General Dynamics Corporation, Heckler & Koch GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.
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