Global Small Arms market is projected to grow at a CAGR of 2.75% By 2032: Visiongain Reports Ltd
Visiongain has published a new report entitled the Small Arms Market Report 2022-2032. It includes profiles of Small Arms and Forecasts Market Segment by (Market Value (USD Million), Market Volume (Cumulative Million Units)) Market Segment by Ownership, (Civilian, Military, Law Enforcement) Market Segment by Hand Gun Type, (Revolvers, Pistols, Derringers, Machine Pistols, Other Hand Guns) Market Segment by Type, (Hand Guns, Sub-Machine Guns, Mortars, Landmines, Grenades, Other Type) Market Segment by Firing System, (Gas-operated, Recoil-operated, Manual) Market Segment by Technology, (Guided, Unguided) Market Segment by Action, (Semi-automatic, Automatic) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global small arms market was valued at US$8,887 million in 2021 and is projected to grow at a CAGR of 2.75% during the forecast period 2022-2032.
People and Troops Alike Funneling Firearms into An Extensive Illicit Weapons Trafficking Network
Prior to the Russian invasion, Ukraine battled with diversion, with people and troops alike funneling firearms into an extensive illicit weapons trafficking network. Despite the fact that Ukraine increased its investigations into military property theft in 2014, the diversion of small and large armaments continued. According to a 2017 Small Weapons Survey briefing on illegal guns trafficking, only around 13% of the more than 300,000 small arms that disappeared from Ukraine between 2013 and 2015 were ever recovered.
Military-Grade Weapons Are a Lucrative Market in Ukraine
Military-grade weapons are a lucrative market in Ukraine, and thousands of hand grenades, rockets, and landmines have spread from battle zones in the Donbas area to cities and towns across the nation. Small-arms theft and diversion are not limited to civilians. In 2019, two Ukrainian troops, for example, attempted to sell 40 RGD-5 grenades, 15 RPG-22 rockets, and 2,454 guns’ cartridges for 75,000 Ukrainian hryvnia (about $2,900). A rocket launcher was discovered in a garbage in Zhytomyr in 2020. That same year, in Odessa, the Ukrainian Security Service uncovered 18 RGD-5 grenades, 12 F-1 grenades, and two anti-tank mines taken from a military post in a nearby power station
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How has COVID-19 had a significant negative impact on the Small Arms Market?
The COVID-19 outbreak has wreaked havoc on economies all across the world, damaging small arms, component manufacturing, and assembly lines. Despite the importance of small arms manufacturing for military objectives, supply chain disruptions have temporarily halted production. The amount of COVID-19 exposure a country has, the level of manufacturing operations it has, and import-export laws, among other factors, all have a part in resuming small arms manufacturing and demand. While businesses may continue to take orders, delivery schedules are not guaranteed. According to industry observers, defence agencies are focusing more on areas that are essential to national security. North America, Europe, and Asia Pacific, in contrast to other regions, have maintained current defence spending increases during this time. According to an industry analyst, small guns’ demand will be unaffected because they are a crucial component of frontline troops.
On the other hand, the demand for tiny weapons for civil and commercial uses has been influenced in several countries. This is partly due to preventive measures implemented by many countries to avoid the spread of COVID-19, such as the closing of public/private venues such as hunting fields and sporting & shooting areas, which has reduced demand for small weapons. During the COVID-19 crises, however, there was a higher demand for tiny firearms for self-defense, particularly in March and April 2020 in the United States.
Despite COVID-19, many of the industry's major players sell equipment to the military and law enforcement, assuring a stable supply. Many countries' lockdown efforts to restrict the virus's spread initially impacted the supply chain to some extent. There were concerns regarding the availability of firearms in numerous locations during COVID-19. Several distributors and suppliers were unable to meet the ongoing demand for small guns due to a lack of stock. Several small arms manufacturers, on the other hand, have developed new products during this time.
How this Report Will Benefit you?
Visiongain’s 700+ page report provides 611 tables and 584 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global small arms market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Small Arms. Get the financial analysis of the overall market and different segments including value, volume, ownership, type, hand gun type, technology, action, firing systems and capture higher market share. We believe that high opportunity remains in this fast-growing small arms market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Transnational Disputes and Regional Instability Are On The Rise Across The Globe
In recent years, there has been an upsurge in the number of wars and conflicts in a range of countries around the world. Afghanistan's latest political crisis, which began in August 2021, has left the country in shambles. Terrorist attacks and violent confrontations in the country are expected to become more common in the future, worsening the situation in neighbouring countries. There are multiple ongoing wars and minor conflicts in various countries throughout the world, with the most of them taking place in the Middle East, North West Asia, and Sub-Saharan Africa, as well as a large-scale drug war in Mexico. Countries all over the world are purchasing arms and ammunition to battle terrorism, prevent enemy soldiers from entering the country, and stop anti-national crimes. In addition, tragic events in the United States and France last year have resulted in a large number of citizens carrying guns for self-defense. Such factors are projected to propel the global small arms market forward over the forecast period.
Rising Participation In Shooting And Hunting Sports
Shooting sports are a variety of competitive and recreational sporting activities that involve competency tests in shooting — the art of using ranged firearms, mostly man-portable guns (firearms and airguns in forms such as pistols, rifles, and shotguns) and bows/crossbows. Equipment, shooting distances, targets, time constraints, and degrees of athleticism involved can all be used to define shooting sports. Individual and team competition are common in shooting sports, and team performance is usually measured by adding the individual team members' scores. Shooting sports are normally done in either approved permanent shooting ranges or temporary shooting fields in the area away from settlements due to the noise and high (and frequently lethal) impact energy of the projectiles.
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Where are the market opportunities?
Rising Investments In The Development Of New And Advanced Firearms
Global markets trembled as a result of the Coronavirus outbreak and the consequent worldwide shutdown. People were heartbroken when their retirement funds were sucked up. On March 17th, anyone with a large stock portfolio felt more blue than green. While the majority of equities were plummeting, there were a few significant exceptions to that financial doom day: stocks in the firearms business began to rise. The explanation is obvious: in times of national crisis, many Americans elect to arm themselves and purchase firearms and ammo. Ammo purchases skyrocketed, implying that stock prices would rise the next day. In the guns market, stocks aren't the only way to profit. Buying weapons with the intention of selling them later can be a lucrative business. Purchasing guns as an investment, on the other hand, rarely yields a speedy return. They're an investment, and they're a lot better than a lot of other things you might buy with the same thinking.
Growing Defense Budget of Major Countries Across the Globe
Last year, total worldwide military spending was $1981 billion, up 2.6% in real terms from the previous year. The United States, China, India, Russia, and the United Kingdom were the top five spenders in 2020, accounting for 62 percent of worldwide military spending. China's military budget increased for the 26th year in a row. The 2.6 percent increase in worldwide military spending came in a year when global GDP decreased by 4.4 percent (according to the International Monetary Fund's October 2020 prediction), owing mostly to the economic effects of the Covid-19 epidemic. As a result, the military burden—military spending as a percentage of GDP—rose to 2.4 percent in 2020, up from 2.2 percent in 2019. Since the global financial and economic crisis in 2009, this was the largest year-over-year increase in the military burden. Despite the fact that worldwide military spending increased, some countries, like as Chile and South Korea, expressly transferred a portion of their intended military spending to pandemic response. Brazil and Russia, for example, spent significantly less than their initial military estimates for 2020
The major players operating in the small arms market are Beretta Holding, Carl Walther Gmbh, Colts manufacturing company, CZG - Ceská zbrojovka Group SE, FN Herstal, General Dynamics Corporation, GLOCK Ges.m.b.H, Heckler & koch Gmbh, Israel Weapon Industries, Kalashnikov Group, Smith & Wesson, Sturm, Ruger & Company, Inc., Taurus Armas SA, Webley & Scott, Weihrauch & Weihrauch Sport GmbH & Co. KG, These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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