Global Small Arms Light Weapons Market is expected to reach USD 25.76 billion by 2024, according to a new report by Grand View Research, Inc. The increasing issues on human rights and safety and security are expected to drive the demand. The increasing effects of urban warfare along with increasing terrorism incidents have also led to the development of the small arms light weapons across various regions. An increase in the urban warfare along with increased terrorist activity is anticipated to propel the market growth. The development of light-weight weapons for further enhancement of defence system is an ongoing trend in the developed countries.
Increasing criminal activities and human rights violations have resulted in the increased efforts for the technology advancements and modernization of the weapons utilized by law enforcement. The Combat Development and Integration Command’s Fires and Manoeuvre Integration Division of marines introduced the small arms modernization strategy which is expected to focus on updating and developing the current weapons in short-term and futuristic systems that could hit the fleet in the 2020s.
The governments of various countries are also investing their resources for the development of highly sophisticated weapon accessories such as night vision devices, laser rangefinders, weapon sights, aiming lasers, and fire control systems. High investment in the defence Research & Development (R&D) for shoulder –wired weapons made for developing a highly robust, reliable, and durable weapons system has also catapulted the demand for light weapons in military applications. The limited defence budget to boost the development of defence system is expected to hinder the market growth.
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Further key findings from the study suggest:
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Grand View Research has segmented the global SALW market on the basis of type, application, and region:
SALW Type Outlook (Revenue, USD Million; 2014 – 2024)
SALW Application Outlook (Revenue, USD Million; 2014 – 2024)
SALW Regional Outlook (Revenue, USD Million; 2014 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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