Shoulder Fired Weapons Market Size, Share, Growth Analysis, By Technology(Guided, Unguided), By Component(Ammunition, Launcher), By Application(Passenger to freighter, Commercial cabin refurbishing and VP cabin refurbishing), By Region - Industry Forecast 2024-2031

Global Shoulder Fired Weapons Market size was valued at USD 6.9 billion in 2022 and is poised to grow from USD 7.21 billion in 2023 to USD 9.81 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

The expansion of the shoulder-fired weapons industry is significantly driven by the surge in military expenditures observed in both established and emerging nations. Globally, there is an increasing demand for lightweight guided weapons, coupled with the widespread adoption of man-portable anti-tank systems (MANPATS) and man-portable air defense systems (MANPADS). These systems provide military forces with a distinct advantage by allowing them to engage targets without being overly concerned about strike accuracy or the weight of the weapon.

The industry is further propelled by the escalating use of advanced armored machinery in conflicts, necessitating the deployment of sophisticated shoulder-fired weapons. Additionally, the preference for global shoulder-fired weapons over conventional arms is on the rise, driven by their cost-effectiveness. This confluence of factors underscores the pivotal role of the shoulder-fired weapons market in addressing the evolving needs and challenges of modern warfare scenarios.