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.
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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.
Major small firearms that find extensive use in small arms industry include handguns which cover both pistols and revolvers, rifles, shotguns, and other miscellaneous firearms such as pistol grip firearms, starter guns, firearm frames and receivers. small arms industry is one of the most competitive industries with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the small arms industry exhibits an inclination toward emerging strategies and developments by market players.
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The increasing crime rate, terrorism, and social turmoil primarily in Asia, North America, Eastern Europe, and the Middle East regions has led to the growth of personal safety concerns among the citizens. The rise in mass shooting incidents in parts of the U.S. and Europe has been a concern and it has led to serious debate on the legitimacy of selling semi-automatic guns and duplicates of military assault rifles to civilians. From political parties to civil societies, various campaigns have been organized against the firearms industry blaming them for the gun related violence. The Massachusetts attorney has imposed a ban on the sale of semi-automatic and duplicates of the assault rifles in the state.
UPCOMING INDUSTRY TRENDS 