Light Weapons Market growth Report by Technology, Industry Share and Size Expansion to 2027 | Fortune Business Insights™
Light Weapons Market size is
expected to reach USD 17.33 billion by 2027, exhibiting a CAGR of 4.67% during
the forecast period. The increasing R&D investments by major companies for
the design and development of innovative light weapons is expected to bolster
healthy growth of the market.
Fortune Business Insights in a report,
titled “Light Weapons Market Size, Share & COVID-19 Impact Analysis, By Type
(Heavy machine guns, MANPAT, Infantry Mortar, Anti-Tank Weapons, Recoilless
Rifles, Launchers, Light Cannon, Anti-Tank Missiles, MANPADS, Grenade,
Landmines), Guidance (Guided, Unguided), Application (Defense, Homeland
Security), and Regional Forecast, 2020-2027.” The market size stood
at USD 12.61 billion in 2019.
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The report on the light weapons
market reveals:
- Superior analysis of the market
- Notable and vital industry development
- COVID-19 effect on the industry
- Prominent insights into the competitive landscape
Market Driver:
Surging Terrorist Activities to
Brighten Business Possibilities
The growing terrorist activities and
border disputes will spur demand for the light weapons market in the
foreseeable future. The rising conflicts among neighboring countries are
expected to provide tremendous opportunities for the market. For instance, the
ongoing disputes between China and India. The increasing military modernization
programs will have an excellent effect on the market.
The surge in the military budget is expected to influence the healthy growth of
the market during the forecast period. The enormous R&D investment for
lighter and efficient vehicles during combat will enhance the potential of the
market in the foreseeable future. The perpetual advancements in weapons such as
elevated range of anti-tank missiles, precision-guided firearms, and laser
enabled light cannons will spur golden opportunities for the market in the near
future.
List of the Leading Companies Profiled
in the Global Light Weapons Market are:
- ARSENAL (Bulgaria)
- BAE Systems (The U.K)
- FN HERSTAL (Belgium)
- General Dynamics Corporation (The U.S.)
- GmbH (Germany)
- Lockheed Martin Corporation (The U.S.)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- Thales Group (France)
Dwindled Defense Budget to Negatively
Influence Market During COVID-19
The defense sector has witnessed a
downfall due to the widespread of coronavirus. The growing focus of governments
towards healthcare has subsequently limited the supply of weapons and reduced
defense expenditure. The halt on allocated contracts owing to the restrictions
imposed by the governments to curb the spread of the infection will further
impede the market growth. The disruption in the supply chain and pause on
production processes will aggravate the growth of the market. Nonetheless, the
current border clashes will escalate the demand for light weapons in the
forthcoming years, which, in turn, will bode well for the market.
Regional Analysis:
Presence of Major OEMs to Augment
Market in North America
The market size in North America
generated a revenue of USD 5.67 billion in 2019 and is expected to remain
dominant during the forecast period. The growth in the region is attributed to
the growing defense budget in the U.S and Canada. The existing key
manufacturers such as General Dynamics Corporation, Northrop Grumman
Corporation, and Raytheon Technologies Corporation are expected to drive the
market in the region. Asia Pacific is expected to witness a rapid growth rate
during the forecast period owing to the rising defense expenditure in emerging
nations such as India and China. The growing emphasis on military modernization
programs will further aid the expansion of the market in Asia Pacific. The
growing border conflicts and political disturbances will spur sales
opportunities for the market. Europe is expected to rise tremendously during
the forecast period owing to the booming defense sector in Russia, the U.K,
Germany, and France.
Important Development:
July 2019: Raytheon Technologies Corporation announced that
it has signed a contract with the Taiwan army worth USD 223.6 million to supply
250 Block I-92F MANPAD Stinger missiles and four Block I-92F MANPAD Stinger
Fly-to-Buy missiles.
Browse Detailed Summary of this
Research with Table of Content:
https://www.fortunebusinessinsights.com/light-weapons-market-103529
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Light
Weapons Market
- Impact of COVID-19 on Global Light Weapons Market
- Steps Taken by Industry/Companies/Governments to Overcome the
Impact
- Key Developments in The Industry in Response to COVID-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
- Global Light Weapons Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Heavy Machine Guns
- Light Cannon
- Recoilless Rifles
- MANPADS
- Grenades
- MANPAT
- Infantry Mortars
- Anti-tank Missiles
- Anti-tank Weapons
- Launchers
- Landmines
- Market Analysis, Insights and Forecast – By Guidance
- Guided
- Unguided
- Market Analysis, Insights and Forecast – By Application
- Defense
- Homeland Security
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- The Middle East
- Rest of the World
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