The global small arms market size is projected to reach USD 6.52 billion by the end of 2027. The rising cross-border disputes and tense relations will lead to a wider product adoption across the world. According to a report published by Fortune Business Insights, titled “Small Arms Market Size, Share and Global Trend By Type (Handgun, Rifle, Shotgun) By Application (Defense & Homeland Security, Self-Defense, Sports, Hunting, and Law Enforcement), and Regional Forecast, 2020-2027,” the market was worth USD 4.80 billion in 2019 and will exhibit a CAGR of 3.96% during the forecast period, 2020-2027.

Small arms are guns or firearms that are used by individuals as a mode of self-defence. They are compact guns and can include rifles, handguns, light machine guns, and shotguns. The purpose of small arms can vary from defence to sports. They are normally used by military personnel and police. The material used in the manufacture of small arms is available in abundance and ease. The lenient law enforcement policies regarding the use of small arms will lead to a wider product adoption across the world. The low-cost of these arms are a primary reason why they are used on a large scale, especially in countries such as the United States. The increasing adoption of small arms will have a direct impact on the growth of the overall market in the coming years.

The Coronavirus Outbreak to Affect Major Companies as Manufacturing Comes to a Standstill

The recent coronavirus outbreak has created a sense of panic among customers as well as manufacturers across the world. The collaborative steps taken by governments in numerous countries across the world have affected the product and manufacture of small arms. Although there are several countries where the Covid-19 pandemic hasn’t really affected the small arms market, the slow pace of manufacturing in other parts of the world has certainly affected the growth of the global market.

Report Aim & Scope:

• An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
• The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
• The various parameters accelerating the growth of the market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the market during the forecast period.

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List of companies profiled in the report:

• American Outdoor Brands Corporation (The U.S.)
• Fabbrica d’Armi Pietro Beretta S.p.A.(Italy)
• FN HERSTAL (Belgium)
• General Dynamics Corporation (The U.S.)
• Heckler & Koch GmbH (Germany)
• Lockheed Martin Corporation (The U.S.)
• Northrop Grumman Corporation (The U.S.)
• Sturm, Ruger & Co., Inc. (The U.S.)
• Taurus International Manufacturing, Inc. (Brazil)
• Thales Group (France)

Increasing Number of Company Mergers will Bode Well for Market Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Due to constant demand for small arms, companies are tying-up with manufacturers for supply of these products for a long duration. In January 2019, the United States Army announced that it has signed a contract with Sig Sauer for long-term supply and development of the company’s popular P320 handgun. The contract is said to worth USD 580 million and will last for 8 years. This will be a significant step in the progress and expansion of the company. The collaboration with US Army will also make it more popular in the global market. Sig Sauer’s collaboration with the United States Army will not just help the company grow, but will play a huge part in the growth of the overall small arms market in the foreseeable future.

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North America Holds the Highest Market Share; High Defense Budget is a Primary Factor Behind Market Growth

The report analyses the latest market trends across five major regions, including North America, Rest of the Word, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is expected to emerge dominant in the coming years. The high defense budgets in countries such as the United States has not just led to a wider product adoption, but has also yielded technologically advanced products. The increasing terror attacks and tense cross-border relations have also contributed to the growth of the small arms market in this region. As of 2019, the market in North America was worth USD 1.56 billion and this value is projected to increase at a considerable pace in the coming years.

Key Players Assessment in this Research:

• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in this market
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

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Industry Developments:

February 2019: Portugal announced that it has signed a contract of worth USD 50.3 million with FN Herstal. The contract will be aimed at distribution and development of 1,000 5.56x45mm rifles and 300 new 7.62x51mm rifles. It will also include the development of 830 5.56x45mm light machine guns and 320 7.62x51mm general purpose machine guns.

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