According to a new market research report published by Credence Research “Small Arms and Light Weapons Market By Product Type (Small Arms: Rifles, Pistols, Shotguns, Handguns and Others; Light Weapons: Grenade Launchers, Landmines, Rocket Launchers, Mortars, Anti-tank Weapons, Rocket Propelled Grenades and Others), By Application (Military, Law Enforcement and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global small arms and light weapons market is estimated to hit US$ 23.5 Bn by 2025.
Small arms and light weapons (SALW) are the most preferred choice of weapons for the law enforcement bodies. The portability and size factor of these weapons make them suitable for use in most of the common crime scenarios. Several countries across the world have taken initiatives to modernize their weapons and in this case SALW’s are no exception. With the rising instances of violence and criminal offences, SALW’s are increasingly being adopted by different law enforcement and civil safety bodies.
Browse the full report at http://www.credenceresearch.com/report/small-arms-an-light-weapons-market
The SALW’s market is majorly driven by defense modernization and law enforcement modernization programs. Security agencies in developed countries are constantly in the hunt to adopt the latest weapons in order to improve security. Moreover, rising instances of illegal activities in urban areas has also impacted the growth of the SALW’s market positively. Small arms, due to their small size, are suitable for use in urban warfare. Rising terrorist activities is another prominent factor leading to the increasing adoption of SALW’s across various countries. These factors in combination are expected to continue driving the SALW’s market growth during the forecast period.
However, various countries across the world have enforced stringent firearm legislations, which makes it difficult for the common man to own it. For example, according to The Arms Act, 1959 and the Arms Rules 1962 (India), the sale, acquisition, possession, manufacture, import, export, and transport of firearms and ammunition is prohibited unless under a license. This makes it difficult for common people to possess weapons for their safety, thereby limiting the consumer base. This forms one of the major restraints for the SALW’s market growth.
The overall SALW’s market is categorized on the basis of product type and application. Based on the product types, the market is classified into small arms and light weapons, wherein each of the two is further categorized into sub segments. The small arms segment comprises of rifles, pistols, shotguns, handguns and others. The light weapons segment has been segmented into grenade launchers, landmines, rocket launchers, mortars, anti-tank weapons, rocket propelled grenades and others. The market is categorized, based on application, into military, law enforcement and others. The others segment includes sports, security guards, bodyguards and civilians.
Continuous R&D activities to improve the efficiency and also to upgrade the existing weapons
Increasing trend for 3D printed guns and corner shot rifles
Developing countries are increasingly adopting SALW’s
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