Technavio Announces the Publication of its Research Report Global Small Arms Market 2016-2020
Technavio recognizes the following companies as the key players in the global small arms market: Beretta, Heckler & Koch, HS Produkt, SIG SAUER, and Smith & Wesson.
Other Prominent Vendors in the market are: Arsenal JSCo, Browning Arms, Colt’s Manufacturing Company, E.R. Shaw, FN Herstal, GLOCK, Indian Ordnance Factories, Israel Military Industries, and Nammo.
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Commenting on the report, an analyst from Technavios team said: Changing nature of combat will be a key trend for market growth. Recent times have witnessed a greater number of land warfare and conflicts to occur in urban areas and city streets. Also, along with the increase in terrorism activities and conflicts, more of the encounters occur as close quarter combat. This has increased the need to enhance the existing armaments among military forces. For example, in May 2016, the UK MoD announced its plan to replace the SA80 rifle of its Royal Marine Force with the newly designed C8 Carbine rifle (a lightweight rifle manufactured by the Colt Canada). The Royal Marine Force is primarily responsible for the protection of the UK Navy’s nuclear deterrent submarine bases. This new C8 Carbine rifle is designed to provide precision strike capability in close quarter combat.
According to the report, one of the key drivers for market growth will be increasing governments’ efforts for acquisition of smart guns. Smart guns are mainly developed with an aim to restrict the unauthorized and accidental use of firearms. Smart guns comprise of several technologies, including proximity sensors, biometrics, radio frequency identification (RFID), and microchips to improve gun safety. Few of such guns are already available in the market, and several prototypes are in development. These smart guns may have good prospects for civilian purposes and law enforcement bodies.
Further, the report states that the growing occurrences of ant trade pose a significant challenge to the legal small arms market. In ant trade, small numbers of weapons are trafficked over time, which then accumulates into a large number of armaments. Similarly, the increasing stockpiles of small arms exist in the form of inventory of weapons with country or as civilian inventories. Stockpiles remain as one of the prime reasons for illegal circulation of small arms. Some warehouses are not properly secured, which can lead to the illegal circulation of small arms. Generally, the surplus and obsolete weapons from government stockpiles are the main sources of illegal small arms.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Global Small Arms Market
The global small arms market has undergone a major transformation over the last one decade. The long-standing wars in Iraq and Afghanistan have infused several changes in the development and manufacture of small arms by both major countries as well as emerging nations of the world. The close quarter combats (CQC) between various military units and militant groups have spawned a wide range of developments in military small arms segment. These new upgrades range from extensive re-engineering and system modifications to the development of new infantry weapons. The weapons not only aim at rendering long-range engagement capacity but also offer improvements in lethal capability.
Technavios analysts forecast the global small arms market to grow at a CAGR of 2.49% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global small arms market for 2016-2020. To calculate the market size, the report considers the revenue generated in the overall market from the procurement of new small arms and associated ammunitions.
The market is divided into the following segments based on geography:
Technavio’s report, Global Small Arms Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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