The global light weapons market size is expected to reach USD 17.33 billion by 2027, exhibiting a CAGR of 4.67% during the forecast period. The increasing R&D investments by major companies for the design and development of innovative light weapons is expected to bolster healthy growth of the market, states Fortune Business Insights in a report, titled Light Weapons Market Size, Share & COVID-19 Impact Analysis, By Type (Heavy machine guns, MANPAT, Infantry Mortar, Anti-Tank Weapons, Recoilless Rifles, Launchers, Light Cannon, Anti-Tank Missiles, MANPADS, Grenade, Landmines), Guidance (Guided, Unguided), Application (Defense, Homeland Security), and Regional Forecast, 2020-2027.” The market size stood at USD 12.61 billion in 2019.

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List of the Leading Companies Profiled in the Global Light Weapons Market are:

  • ARSENAL (Bulgaria)
  • BAE Systems (The U.K)
  • FN HERSTAL (Belgium)
  • General Dynamics Corporation (The U.S.)
  • GmbH (Germany)
  • Lockheed Martin Corporation (The U.S.)
  • Northrop Grumman Corporation (The U.S.)
  • Raytheon Technologies Corporation (The U.S.)
  • Rheinmetall AG (Germany)
  • Saab AB (Sweden)
  • Thales Group (France)

 

The report on the light weapons market reveals:

  • Superior analysis of the market
  • Notable and vital industry development
  • COVID-19 effect on the industry
  • Prominent insights into the competitive landscape

 

Market Driver:

Surging Terrorist Activities to Brighten Business Possibilities  

The growing terrorist activities and border disputes will spur demand for the light weapons market in the foreseeable future. The rising conflicts among neighboring countries are expected to provide tremendous opportunities for the market. For instance, the ongoing disputes between China and India. The increasing military modernization programs will have an excellent effect on the market.
The surge in the military budget is expected to influence the healthy growth of the market during the forecast period. The enormous R&D investment for lighter and efficient vehicles during combat will enhance the potential of the market in the foreseeable future. The perpetual advancements in weapons such as elevated range of anti-tank missiles, precision-guided firearms, and laser enabled light cannons will spur golden opportunities for the market in the near future.

 

Dwindled Defense Budget to Negatively Influence Market During COVID-19

The defense sector has witnessed a downfall due to the widespread of coronavirus. The growing focus of governments towards healthcare has subsequently limited the supply of weapons and reduced defense expenditure. The halt on allocated contracts owing to the restrictions imposed by the governments to curb the spread of the infection will further impede the market growth. The disruption in the supply chain and pause on production processes will aggravate the growth of the market. Nonetheless, the current border clashes will escalate the demand for light weapons in the forthcoming years, which, in turn, will bode well for the market.

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Regional Analysis:

Presence of Major OEMs to Augment Market in North America

The market size in North America generated a revenue of USD 5.67 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to the growing defense budget in the U.S and Canada. The existing key manufacturers such as General Dynamics Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation are expected to drive the market in the region. Asia Pacific is expected to witness a rapid growth rate during the forecast period owing to the rising defense expenditure in emerging nations such as India and China. The growing emphasis on military modernization programs will further aid the expansion of the market in Asia Pacific. The growing border conflicts and political disturbances will spur sales opportunities for the market. Europe is expected to rise tremendously during the forecast period owing to the booming defense sector in Russia, the U.K, Germany, and France.

 

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments –Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights- Impact of COVID-19 Pandemic on Global Light Weapons Market
    • Impact of COVID-19 on Global Light Weapons Market
    • Steps Taken by Industry/Companies/Governments to Overcome the Impact
    • Key Developments in The Industry in Response to COVID-19 Pandemic
    • Potential Opportunities Due to COVID-19 Outbreak
  • Global Light Weapons Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Heavy Machine Guns
      • Light Cannon
      • Recoilless Rifles
      • MANPADS
      • Grenades
      • MANPAT
      • Infantry Mortars
      • Anti-tank Missiles
      • Anti-tank Weapons
      • Launchers
      • Landmines
    • Market Analysis, Insights and Forecast – By Guidance
      • Guided
      • Unguided
    • Market Analysis, Insights and Forecast – By Application
      • Defense
      • Homeland Security
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • The Middle East
      • Rest of the World

TOC Continued…!!!

 

Important Development:

July 2019: Raytheon Technologies Corporation announced that it has signed a contract with the Taiwan army worth USD 223.6 million to supply 250 Block I-92F MANPAD Stinger missiles and four Block I-92F MANPAD Stinger Fly-to-Buy missiles.

 

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.

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