12 Weapon Importing Countries in the World
In this article, we will be covering 12 weapon importing countries in the world. If you want to skip our detailed analysis of the light weapons and arms market, you can go directly to 5 Weapon Importing Countries in the World.
The global weapons and arms market is a major economic force, generating billions of dollars in revenue every year. It also employs millions of people around the world and plays a vital role in national defense and security. However, the global arms trade business is also a controversial industry that has been criticized for its role in conflict and human rights abuses.
For now, let’s take a look at some of the key trends that are shaping the small arms and light weapons industry and what some of the major market players are up to.
The Small Arms and Light Weapons Market: An Analysis
The small arms and light weapons market include revolvers, pistols, rifles, shotguns, sub-machine guns, and light machine guns. The market is driven by demand from civilians for self-defense and hunting purposes, as well as law enforcement agencies, governments, and militaries. According to a report by Stockholm International Peace Research Institute (SIPRI), total global military expenditure reached a new high of $2.24 trillion in 2022. The US, China, and Russia, as the three biggest spenders, accounted for 56% of the global expenditure in 2022. It comes as no surprise that all three of the largest spending countries rank high among the strongest armies in the world.
According to a report by The Business Research Company, the global small arms and light weapons market was valued at $12.07 billion in 2022. Looking forward, the market is expected to grow at a compound annual growth rate of 4.7% during 2022-2027, pushing the global small arms and light weapons market to reach above $15.21 billion by the end of the forecasted period. Growing cross-border conflicts, political unrest, and terrorist activities around the world have contributed to the growth in military and defense spending. Increasing number of military modernization programs worldwide is another key factor creating a positive outlook for the market. Due to the growing threat of organized crime and terrorism, law enforcement agencies around the world are also increasingly fueling the demand for small arms and light weapons.
In one of our previous articles about US states with most guns per capita, we discussed that the demand for firearms for hunting, sports shooting, self-defense, and personal security is increasing. This is expected to further augment market growth during the forecast period. Moreover, growing concerns about personal security, fueled by the rising number of mass shootings in the US, are expected to positively influence the market in North America.
What are Some of the Key Market Players Up To?
The small arms and light weapons market is highly fragmented. Some of the biggest companies in this market include Vista Outdoor Inc. (NYSE:VSTO), Smith & Wesson Brands, Inc. (NASDAQ:SWBI), and Sturm, Ruger & Company (NYSE:RGR).
Sturm, Ruger & Company (NYSE:RGR) is an American firearm manufacturing company that also ranks among some of the best gun stocks to buy. On October 17, Sturm, Ruger & Company (NYSE:RGR) introduced the 5th edition of the Ruger Collector's Series 10/22 Rifle for National Ruger Day, a day created to celebrate all things Ruger on 10/22 because of the company’s well-known 10/22 rifle. This collectible rifle features an American Camo synthetic stock and ships with one 10-round rotary magazine that is detachable. With an exclusive Collector’s series bolt marking, the camo-dipped rifle comes packaged with a National Ruger Day commemorative metal street sign.
Companies in this space also work towards securing contracts with law enforcement and federal agencies. Such agencies often purchase large quantities of guns and ammunition, and these contracts can be worth millions of dollars. Vista Outdoor Inc. (NYSE:VSTO) is a sporting goods company that manufactures hunting and shooting accessories as well as ammunition products for rifles and pistols. On October 19, Vista Outdoor Inc. (NYSE:VSTO) announced that their brand “Federal Ammunition” has been selected by the Department of Homeland Security (DHS), U.S. Immigration and Customs Enforcement (ICE) as the contract awardee for their 223 Rem. rifle ammunition. The Tactical Bonded 62-grain soft point cartridge has been chosen as the standard round. This indefinite delivery, indefinite quantity (IDIQ) contract is a strategically sourced agreement that allows all DHS components and other federal agencies to order as many as 28 million rounds over a five-year period.
On the other hand, consumer preferences for small arms are constantly evolving and gun manufacturers are introducing new guns to meet these changing preferences. Smith & Wesson Brands, Inc. (NASDAQ:SWBI) is a US-based leader in firearm manufacturing and design, delivering a broad portfolio of quality firearms. On July 11, Smith & Wesson Brands, Inc. (NASDAQ:SWBI) announced the launch of the new M&P22 MAGNUM pistol, chambered in 22 WMR. With its internal hammer-fired design and the TEMPO gas-operated barrel system, the new pistol offers improved performance, more reliability, and more features. With impressive 30-round magazines, the M&P22 MAGNUM pistol also brings with it more capacity.
The gun manufacturing industry is a competitive industry and gun manufacturers such as Smith & Wesson Brands, Inc. (NASDAQ:SWBI) are constantly introducing new guns in order to stay ahead of the competition. On September 7, Smith & Wesson Brands, Inc. (NASDAQ:SWBI) reported strong earnings for the fiscal first quarter of 2024. The company reported earnings per share (EPS) of $0.13, surpassing EPS estimates by $0.02. The company reported a revenue of $114.24 million and outperformed revenue estimates by $13.32 million. As of October 20, Smith & Wesson Brands, Inc. (NASDAQ:SWBI) has surged nearly 13.5% over the past six months.
Now that we have discussed what some of the major companies in the small arms and light weapons market are up to, let’s take a look at the top 12 weapon importing countries in the world.
12 Weapon Importing Countries in the World
Methodology
In this article, we have listed 12 weapon importing countries in the world. To rank the top 12 weapon importing countries in the world, we consulted the Stockholm International Peace Research Institute (SIPRI) - Arms Transfers Database. This database provided us with a list of countries and information on their share of global arms imports during 2018-2022. We used data available for the latest year in their dataset, which was published in March 2023. We then narrowed down our selection to rank the top 12 weapon importing countries in the world based on their share of global arms imports during 2018-2022. The top 12 weapon importing countries in the world are listed below in ascending order.
12 Weapon Importing Countries in the World
12. Kuwait
2018–2022 Share Of Global Arms Imports: 2.4%
First up on our list of 12 weapon importing countries in the world is Kuwait. Kuwait is a country in the Middle East that received 2.4% of the world’s arms imports in 2018-2022. During this period, the US was the main supplier, supplying around 78% of Kuwait’s total arms imports. It is common for countries in the Middle East to import arms to exercise their influence and to defend against external threats.
Some of the top gun stocks to consider researching and investing in include Vista Outdoor Inc. (NYSE:VSTO), Smith & Wesson Brands, Inc. (NASDAQ:SWBI), and Sturm, Ruger & Company (NYSE:RGR).
11. United Arab Emirates
2018–2022 Share Of Global Arms Imports: 2.7%
The United Arab Emirates (UAE) is another country in the Middle East that ranks among the top 12 weapon importing countries in the world. UAE shares borders with Oman and Saudi Arabia, and received around 2.7% of the world’s total arms imports during 2018-2022. During this period, about 66% of UAE's arms imports came from the US.
10. United States
2018–2022 Share Of Global Arms Imports: 2.7%
The global arms trade is a huge business and while it is the main supplier for some of the top weapon importing countries, the US itself also ranks among the top 10 weapon importing countries in the world. According to the latest reported data, the US received around 2.7% of the world’s arms imports in 2018-2022. During this period, the United Kingdom was the biggest supplier, supplying 24% of the United States’ total arms imports.
9. Japan
2018–2022 Share Of Global Arms Imports: 3.5%
The country of Japan is an archipelago of islands in East Asia. While Japan has limited its military capabilities, the country does import arms to be able to defend against small-scale invasions. Japan received around 3.5% of the world’s total arms imports during 2018-2022. During this period, the US has been the main supplier to Japan, supplying 97% of the total arms imports.
8. Pakistan
2018–2022 Share Of Global Arms Imports: 3.7%
Pakistan is a country in South Asia, and it is surrounded by a number of bordering countries such as India, China and Afghanistan. Since its independence, Pakistan has been in a number of armed conflicts with its neighbor India. China has always been a leading supplier for Pakistan and supplied 77% of Pakistan's total arms imports between 2018-2022. According to the most recent reported data, Pakistan received about 3.7% of the global arms imports during this time.
7. South Korea
2018–2022 Share Of Global Arms Imports: 3.7%
South Korea is a country in East Asia. Sharing one of the most heavily militarized borders in the world with North Korea, South Korea received 3.7% of the world’s total arms imports in 2018-2022. During this period, the US was the main supplier, supplying around 71% of South Korea’s total arms imports.
6. Egypt
2018–2022 Share Of Global Arms Imports: 4.5%
Egypt is a geographically significant country that connects north-east Africa with the Middle East. The Suez Canal, an artificial sea-level waterway in Egypt, also connects the Red Sea to the Mediterranean Sea. According to the most recent reported data, Egypt had a 4.5% share in the global arms imports between 2018-2022. During this time, Russia was the largest supplier, contributing 34% to Egypt's total arms imports.
Some of the most prominent names in the small arms and light weapons market include Vista Outdoor Inc. (NYSE:VSTO), Smith & Wesson Brands, Inc. (NASDAQ:SWBI), and Sturm, Ruger & Company (NYSE:RGR).
Click to continue reading and see 5 Weapon Importing Countries in the World.
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Disclosure: None. 12 Weapon Importing Countries in the World is published on Insider Monkey.
