Increasing political tensions around the world has led to the adoption of various new technologies by countries with an aim of strengthening national security. To defend the nation from external threats, countries over the years, have strengthened their army’s capabilities. Moreover, the increasing land disputes across the borders have compelled the nations to strengthen their armed forces by importing and developing weapons. Moreover, increase in crime rate has given rise to increase in small arms procurement in civilians for self-defense. Since the 13th century, firearms have undergone a massive transformation with respect to design and operation.
Arms are one of the most important requirements for defense forces, including the Army, Navy, and the Air Force. Firearms include handguns (pistols and revolvers) and long guns such as rifles, shotguns, assault rifles, submachine guns, carbines, personal defense weapons, and light machine guns, and all these products are based on different technologies and made out of various raw materials. A wide range of firearms has been adopted by the defense forces of various nations such as the U.S., Russia, the U.K., India, and China, among others in order to protect their countries in situations such as wars, conflicts, and terrorist activities.
The demand for hunting and shooting related sports is on the rise. Hunting and shooting programs led to an increase in the number of hunters in the U.S. For instance, youth hunting and shooting programs have led to an increase in number of hunters (ageing between 6-15 years) in the U.S. Shooting as a sport has become increasingly popular ever since its inception in “Inaugural games” in Greece 1896. The maximum increase in participation occurs in Summer or Winter Olympic games.
The nation with the greater procurement of defense weapons, arms and ammunition is stronger in terms of military power as compared to others. Countries across the globe have modernized their defense systems for the procurement of defense-related products and services in order to strengthen their economy. The military and police modernization programs involve huge financial expenditure and suffer public screening. Hence, the procurement procedures are exhaustive and prolonged. Apart from that, security challenges such as illicit arms trade, reach of lethal weapons to insurgent and terrorist groups, and criminal activities, force governments across the world to exert a tight control over the sale and purchase of arms in the open market. Complex procurement procedure can be a challenge hindering the growth of global small arms market.
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The strategies adopted to gain a significant market share in this growing industry have been varying from product launch, mergers & acquisitions, partnerships, and agreements or contracts. This segment provides comprehensive insights regarding several development activities that the key players in the industry are adopting to compete directly. To lead the market as well as engage in the process of overall market growth, a company needs to introduce new products to the market, improve the existing products’ framework, work in collaboration with the top market leaders or win new contracts, and acquire the relatively weaker companies into its stronghold.
The prominent players in the small arms market adopted strategies of product launches, contracts, mergers and acquisitions, and collaborations to expand their business. Companies such as American Outdoor Brand Corporation, Beretta Arms Company, Colt’s Manufacturing Company, Heckler & Koch AG, Singapore Technologies Engineering Ltd., Sturm, Ruger Co., Sig Sauer, Inc., Inc., Kalashnikov Concern, and Remington Outdoor Company, among others have launched new products to establish their presence in the market, while some players have focused on mergers and acquisitions, partnerships, and joint ventures to increase their geographical presence.
UPCOMING INDUSTRY TRENDS 