Global Light Weapons Market

Light Weapons Market Size, Share, Growth Analysis, By Type(Heavy Machine Guns, Grenades & Grenade Launchers, Mortars, Man-Portable anti-tank systems), By Technology(Guided and Unguided), By Region - Industry Forecast 2025-2032

Report ID: SQMIG20A2160 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 76

Light Weapons Market News

  • In April 2023, Rafael Advanced Defense Systems announced that it had received a USD 20 million contract from the Israeli Defense Forces to produce Spike anti-tank guided missiles. The contract calls for the delivery of 100 missiles over a one-year period.
  • In March 2023, Northrop Grumman announced that it had received a USD 50 million contract from the U.S. Navy to produce MK 46 underwater assault rifles. The contract calls for the delivery of 200 rifles over a two-year period.
  • In February 2023, General Dynamics announced that it had received a USD 100 million contract from the U.S. Army to produce M4 carbines. The contract calls for the delivery of 10,000 rifles over a three-year period.
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Light Weapons Market size was valued at USD 14.85 billion in 2022 and is poised to grow from USD 15.68 billion in 2023 to USD 24.25 billion by 2031, at a CAGR of 5.6% during the forecast period (2024-2031).

These businesses engage in mergers and acquisitions or strategic partnerships for the creation of new products and the advancement of technology. the market will continue to innovate and adapt to meet the changing needs of armed forces, law enforcement agencies, and civilian users. 'Lockheed Martin Corporation (United States)', 'General Dynamics Corporation (United States)', 'BAE Systems plc (United Kingdom)', 'Raytheon Technologies Corporation (United States)', 'Thales Group (France)', 'FN Herstal (Belgium)', 'Heckler & Koch GmbH (Germany)', 'Beretta Holding S.p.A. (Italy)', 'Kalashnikov Concern (Russia)', 'Israel Weapon Industries (Israel)', 'Northrop Grumman Corporation (United States)', 'Rheinmetall AG (Germany)', 'Colt's Manufacturing Company LLC (United States)', 'Česká zbrojovka Group SE (Czech Republic)', 'Sig Sauer, Inc. (United States)', 'Norinco International Cooperation Ltd. (China)', 'Sturm, Ruger & Co., Inc. (United States)', 'Taurus Holdings, Inc. (Brazil)', 'Arsenal JSCo (Bulgaria)', 'ST Engineering (Singapore)', 'Denel SOC Ltd (South Africa)'

Many countries invest in defense modernization programs to enhance their military capabilities. These programs include the acquisition of advanced light weapons systems to replace outdated equipment and improve the operational effectiveness of armed forces. The need for modernization drives the demand for small arms, ammunition, and other light weapons.

There is a growing demand for lightweight and portable light weapons systems. Military forces and security agencies seek compact and highly mobile weapon systems that provide manoeuvrability, ease of deployment, and operational flexibility. This trend is driving the development of compact assault rifles, compact submachine guns, and other lightweight light weapons.

North America is the largest market for light weapons, followed by Europe and Asia Pacific. North America is expected to remain the largest market during the forecast period, due to the presence of a large number of defense and homeland security organizations in the region. These organizations are constantly upgrading their weapons systems to meet the evolving threats.

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Global Light Weapons Market

Report ID: SQMIG20A2160

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