The global small arms market is anticipated to grow at a considerable CAGR of 3.9% during the forecast period (2024-2031). One of the major factors that are boosting the market growth is the growing technologies that have strengthened the impact and importance of small arms. Over the past few years, guns have been got advanced with several technological developments, and some of them have gotten a lot of attention across the globe.
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The top 3 technological developments amongst others are:
- Personalized Smart Guns- These guns are made to be fired only by verified users. These guns are developed with the technology which identifies users. If the user is not verified the gun will not work which makes it much more unique, and useful for the armed forces. It got a lot of attention that in January 2022, these smart guns arrived in the US owing to the high demand for consumers.
- Underwater Gun- an ADS amphibious rifle is capable of firing underwater. The gun is developed by Russia and used by Russian Naval Commandos. The gun is equipped with a silencer and grenade launcher.
- Compact Submachine Gun- These machine guns are extremely capable, and flexible weapon which is compatible with a range of different ammunition calibers including .22, .40, .45, and 9mm Parabellum. KRISS Vector gun uses this technology which also shoves expended energy from fired rounds downwards to keep the gun on target and reduce recoil, dramatically.
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Market Coverage
- Segment Covered-
o By Type
o By Bend-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including GLOCK Ges.m.b.H., Heckler and Koch GmbH, Herstal Group, Sig Sauer, Inc., Sturm, Ruger & Co., Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Small Arms Market Report Segment
By Type
- Handgun
- Shotgun
- Machine Gun
- Rifle
By End-User
- Civil & Commercial
- Defense
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