According to a new market intelligence report, now available on ASDReports, titled "Global Light Weapons Market, Analysis & Forecast, 2017 - 2021", the light weapons market is expected to reach $12.28 billion by 2021. Light weapons remain the first line of attack in case of an invasion by the insurgent or enemy group. Based on their type, these light weapons are categorized as anti-tank guided weapons (ATGW), anti-aircraft missile, rocket launchers, man-portable air defense systems (MANPADS), heavy machine guns, light cannons, recoilless rifles, grenade launchers, mortars, grenades, and rocket propelled grenades.
The global light weapons market is driven by several factors, such as changing nature of warfare, low cost of weapons, increase in tensions across the borders among others. Furthermore, increasing defense spending and military modernization programs are expected to create viable opportunities in the light weapons market.
The key manufacturers of light weapons are indulging in partnerships and launching innovative, technologically advanced weapon system for defense forces. According to BIS Research Analysis, the global light weapons market is estimated at $10.21 billion in 2016.
The increased tensions across the borders and growing terrorism are some of the factors that have led to the adoption of advanced weapon systems by the defense agencies across the world. Additionally, increased adoption of light weapons by military forces have forced the manufacturers to develop technologically advanced weapons. Lockheed Martin, Raytheon, Orbital ATK, General Dynamics, Rafael Advanced Defense Systems, BAE Systems, FN Herstal, and Saab AB are some of the manufacturers of light weapons.
Light weapons are majorly used by military and homeland security agencies. Military segment is expected to register the highest CAGR in the forecast period (2017-2021) owing to the growing conflicts and the rising terrorism. The market share of military end-user is also anticipated to increase considerably during the forecast period.
According to Sudheer Uniyal, analyst at BIS Research, “The market increasingly gained traction due to the increasing terrorism activities and likely to have unprecedented growth owing to military modernization programs.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The overall market has been segmented by type, namely: anti-tank guided weapons (ATGW), anti-aircraft missile, rocket launchers, man-portable air defense systems (MANPADS), heavy machine guns, light cannons, recoilless rifles, grenade launchers, mortars, grenades, and rocket propelled grenades. Another segmentation has been done based on end-users namely: military and homeland security. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 11 countries.
This report is a meticulous compilation of research on more than 50 players in the light weapons ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 16 leading companies, market participants, and vendors. The report also profiles around 15 companies namely Orbital ATK, General Dynamics, Rafael Advanced Defense Systems, BAE Systems, FN Herstal, and Saab AB, among others.
Key questions answered in the report:
Source: ASDReports - Market Research
Date: Apr 17, 2018