Small Arms Market Technological Advancements and Future Projections 2032

The global small arms market was valued at USD 9.07 billion in 2023 and is expected to increase from USD 9.46 billion in 2024 to USD 12.32 billion by 2032, registering a CAGR of 3.35% during the forecast period. In 2023, North America led the market, holding a 43.33% share.

North America dominated the small arms market with a 43.33% share in 2023, driven by high civilian firearm ownership, substantial defense spending, and strong procurement by law enforcement and homeland security agencies. By type, the handgun segment held the largest share, supported by growing demand for personal protection, sports shooting, and concealed carry in countries such as the U.S., Canada, and Germany. The United States led the global market in 2023, with over 400 million privately owned firearms, robust defense modernization, and major contracts awarded to FN America and Heckler & Koch. In Canada, Colt Canada secured a contract to supply C20 rifles as part of tactical modernization, while Germany, home to Heckler & Koch, strengthened its position through rising NATO-aligned defense investments. France witnessed growth supported by Thales and Beretta through modernization initiatives and exports, whereas India advanced with large-scale 7.62mm rifle procurements and domestic joint ventures like PLR Systems. China expanded its market with over 49 million civilian-owned firearms and state-driven military modernization, while Russia, led by the Kalashnikov Group, maintained resilient exports to Africa, Asia, and Latin America despite sanctions.

Information Source:

https://www.fortunebusinessinsights.com/small-arms-market-103173

List of Key Players Profiled in the Report:

• 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)

Segmentation:

The Small Arms Market can be segmented into various categories, including:

Type of Small Arms:

• Pistols
• Rifles
• Shotguns
• Submachine Guns
• Machine Guns
• Others

End-User:

• Military
• Law Enforcement
• Civilian

Region:

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• Latin America

Application:

• Self-defense
• Military
• Law Enforcement
• Sporting/Hunting
• Recreational Shooting
• Others

Caliber:

• Small Caliber (e.g., .22, 9mm)
• Medium Caliber (e.g., .223, 7.62mm)
• Large Caliber (e.g., .50 BMG)

Technology:

• Conventional
• Smart Small Arms (incorporating digital technology)

Sales Channel:

• Online
• Offline (Physical Stores)

Russia/Ukraine War Impact:

Extensive Demand for Various Firearms from NATO Countries Propelled Market Progress

The demand for various firearms during the war enhanced small arms adoption. Rising armored vehicle usage across Europe is expected to foster sales. Furthermore, increasing demand for the product from the U.S. may bolster industry growth. Moreover, the rising adoption of guns for border defense and war is expected to enhance sales. Also, strengthening operational capabilities are expected to enhance industry growth.

Report Coverage:

The recently published report provides an in-depth analysis of the top segments and emerging trends in the market. It covers a comprehensive discussion of the driving and restraining factors, as well as the impact of the COVID-19 pandemic on the market. The report also examines the regional developments and highlights the strategies implemented by key players in the market. Overall, the report offers valuable insights to help stakeholders make informed decisions and stay up-to-date with the latest market trends.

Drivers and Restraints:

Progress in Modern Weapons Innovation Set to Propel the Industry

Small arms comprise rifles, handguns, shotguns, and rifles. Escalating border issues, Russia Ukraine war, and strong demand for advanced weaponry and ammunition may enhance the arms adoption. Further, increasing modern weapon innovation is expected to foster the product’s demand. Also, manufacturers develop advanced ammunition to enhance efficiency and boost security. For example, U.S.-based arms manufacturer, True Velocity, is developing 6.8mm ammunition to replace its 5.56mm weaponry. In addition, strong demand for arms from civilians is expected to bolster its adoption. These factors may incite the small arms market growth.

However, the difference in rules between several countries may hinder the industry’s growth.

Regional Insights:

Robust Defense Budgets to Foster Market Growth in North America

North America is expected to dominate the small arms market share due to robust defense budgets. The market size in North America stood at USD 3.69 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, the presence of many shooting bases in the region is expected to foster the weaponry demand. These factors may propel industry progress in the region.

In Asia Pacific, increasing border conflicts and terrorist activities are likely to foster the product demand. Further, rising defense budgets and military modernization planning may foster the industry’s growth.

In Europe, the presence of Thales Group, Heckler & Koch GmbH, and Fabbrica d'Armi Pietro Beretta S.p.A. may foster the product demand. These factors may promote the industry’s progress.

Competitive Landscape:

Companies Enter into Agreements to Foster Sales

Prominent companies operating in the market enter into agreements to improve sales performance and maintain a strong consumer base. For example, Èeská zbrojovka a.s. signed an agreement with Czech Republic Army in April 2020. The company supplied nearly 39,000 little arms valued at approximately USD 105 million. Under this agreement, the military shall procure nearly 16,000 BREN 2 attack rifles, more than 1,600 CZ 805 G1 underslung explosive launchers, north of 21,000 CZ P-10 guns, preparing ammo, and nearly 100 CZ SCORPION PDWs. This strategy may enable the company to enhance its sales and bolster its brand image. Furthermore, companies devise expansions, automated production techniques, research and development, mergers, and partnerships to elevate their market position.

Key Industry Development:

• November 2023 – The Belgian government approved the establishment of a long-term strategic partnership between Belgian Defence and FN Herstal. The partnership is a component of the DIRS* and the policies implemented by the Belgian federal government and Ludivine Dedonder, Minister of Defence, since 2020.