Small Arms Market worth $5,299.61 M by 2020
- According to a New Study on ASDReports
The Report, now available on ASDReports, "Small Arms Market by Product (Pistol, Rifle-Carbine (Assault, sniper, etc), and Machine Gun), Firing System (Gas, Recoil, Manual), Mechanism (Auto, Semi-auto, Select-Fire, Manual), Category, Caliber, Application, Geography, Training & Simulation Forecast & Analysis (2014–2020)" the market is expected to register growth with a CAGR of 4.17% and reach $5,299.61 Million by the end of 2020.The major challenges faced by the small arms market are licensing and regulatory policies and procedural issue for owning and exporting & importing small arms.
North America holds the largest share of the small arms market. Asia-Pacific is expected to witness a strong growth, due to increase in investments in defense and commercial applications in emerging countries such as China and India. Technological advancements in small arms and the rising demand for non-defense applications is expected to drive the small arms market in future. The technological efficiency in terms of precision, weight, and size of the small arms which enables them to perform various applications in defense and commercial sectors is expected to contribute to the growth of the small arms market, globally.
Small Arms Market - Forecast & Analysis (2014-2020)
Strict regulations and defense budget cuts in the North American and European regions restrict the small arms market growth for defense applications. The increasing demand for lightweight and smart guns would drive the growth of small arms market.
The market is segmented by product, firing systems, mechanism, caliber, application, category, regions, and country. The competitive analysis includes the market share of companies in the small arms market. The report includes analysis of impact of drivers and restraints country-wise, and region-wise to give a better insight into the small arms market. Technology and industry trends have also been highlighted, which would provide competitive market intelligence to utilize the business opportunities.
Strum, Ruger & Co., Inc. (U.S.), Alliant Techsystems, Inc. (U.S.), Smith & Wesson Holding Corporation (U.S.), Freedom Group (U.S.), and Colt Manufacturing Company, LLC (U.S.) are the key players for the small arms, globally and account for more than 40% of the total market share. General Dynamics Corporation (U.S.), Glock GES.M.B.H. (Austria), Heckler & Koch GmBH (Germany), Indian Ordnance Factories (India), Arsenal Jsco. (Bulgaria), Fabbrica D’Armi Pietro Beretta S.P.A. (Italy), Israel Weapon Industries (Israel), Taurus (Brazil), FN Herstal (Belgium), and Zak³ady Mechaniczne Tarnów S.A. (Poland) are other prominent players in the small arms market.
Source : ASDReports - Market Research - view original press release