Dublin, Dec. 23, 2019 (GLOBE NEWSWIRE) -- The "Global Service Handgun Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The service handgun market is fast evolving market with huge market all over the world.As the defense budgets of developing countries and the emerging economies increase they will want to replace the ageing handguns with their law enforcement and armed forces so the Service Handgun Market is slated to grow rapidly over the next few years overcoming the slowdown in the United States which is has reached its saturation point. The major drivers of the Service Handgun Market will be India, China, Middle East over the next few years.

A service handgun basically is a handgun that is issued to defense and law enforcement personnel which can be a revolver or a handgun with muzzle velocity of 370-380 m/s and the range extends up to 50 Meters in most cases. But In case of revolvers the maximum firing range extends up to 250 Meters. Many Countries specially the developing ones are using handguns of the 1960's Era like, Vietnam which uses the Makarov Pistol; Thus opportunities in many countries that are replacing or are in the process of modernizing their Sidearm's are huge and manufacturers would do well to tap the opportunities, because increasingly the handgun has become standard issue for all personnel and that accounts for a huge market.

The Glock was one of the First Polymer based Fire arms and now that space has grown considerably. Most pistols are ambidextrous and it is this quality that is very appealing to the Armed Forces and Law Enforcement Personnel when placing an order. Most Successful are the handguns which are universal and most adaptable and those are the ones which will be most successful in the future.

Recent Developments:

January 2017: US Army has announced that it is going to replace its service handguns after 35 years, the standard issued Beretta M9 with the latest handgun, the P320 which is developed by Sauer and Shon. The Army has stated that it will buy 280,000 handguns and may purchase up to 500,000 handguns.

November 2017: The US Army has announced that the soldiers with the 101st Airborne Division shall be the first to receive the new Army handgun, the M17 Modular Handgun System. The 101 Airborne division received about 2000 M17 and M18 handgun, which replaced the decade-old Beretta M9, which was previously used by the Army.

Key Players are Remington Arms Company LLC, FN Herstal, Glock Ges mbH, Colt Group SA, Swiss Arms AG, Israel Weapons Industries among others.

What the report offers:

The study identifies the situation and predicts the growth of the Service Handgun Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Service handgun Market.

In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector.

Companies Mentioned

  • GLOCK Inc
  • Walther Arms, INC.
  • CZUB
  • Smith and Wesson
  • Browning
  • Baretta
  • Springfield Armory
  • Colt's Manufacturing Company, LLC
  • Fn Herstal
  • Remington Arms Company LLC
  • Heckler & Koch GmbH
  • Sturm, Ruger & Co., Inc
  • Armscor International, Inc

For more information about this report visit https://www.researchandmarkets.com/r/anh5sj

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