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 key players that are actively participating in small arms market include American Outdoor Brand Corporation, Beretta Arms Company, Colt’s Manufacturing Company LLC, Browning International S.A., Sig Sauer, Inc. Inc., Sturm, Ruger & Company, Remington Outdoor Company, Singapore Engineering Technologies, FN Herstal, GLOCK Inc., Heckler and Koch AG, Israel Weapon Industries (IWI) LTD, Kalashnikov Concern, O.F. Mossberg & Sons, Inc., and Taurus Holdings, among others.
The prominent players in the small arms market adopted strategies such as product launch, contracts, mergers and acquisitions to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion, among others. The small arms industry is highly competitive and requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants, which will develop next-generation solutions to cater the need for future applications could benefit from this market.
The small arms industry has been observing a robust growth with a growth in the number of guns manufactured across the globe for various applications. A significant portion of the small arms market is dependent on the civilian, hunting and shooting sports market. There are various types of small arms that have been used in hunting & shooting sports and civilian applications including rifles, pistols, and shotguns, among others. The small arms industry in the recent years has seen the development of firearms for both commercial and military applications. According to the UN Comtrade report, total number of guns exported from the U.S. had increased to 5,542,906 units in 2018, from 2,116,034 units in 2017. The following figure illustrates the arms export data in 2017 and 2018.
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The U.S. is the largest market for small arms across the globe. The changes in import policies and the strengthening of the U.S. dollar have imposed a lot of challenges and difficulties for companies that export weapons into the U.S. and other countries having restricted import and export policies. Additionally, the procurement of defense related weapons is done to strengthen their economy and competitive strength. However, difficult procurement procedures of the government affect the growth of the global small arms market.
Due to increasing defense budget of the countries, defense modernization program is being adopted by the countries to enhance their defense related products and services. The e-commerce market is increasing due to high demand for small arms for civilian & hunting and shooting activities. Moreover, the increasing participation of civilian people in military and armed forces is an opportunity which can uplift the global small arms market.
UPCOMING INDUSTRY TRENDS 