New Jersey, NJ, Aug. 28, 2019 (GLOBE NEWSWIRE) -- The key contributing factors for the growth of light weapons market are change in nature of warfare and low cost of weapons, increasing demand by civilians for light weapons, increase in drug trafficking and arming of civilians by governments. The global light weapons market is expected to grow from USD 13.08 billion in 2018 to USD 22.39 billion by 2026, at a CAGR of 5.31% during the forecast period 2019-2026, according to the new report published by Fior Markets.
Light weapons are designed for use by one or more persons serving as a team to perform certain actions. They include: anti-materiel rifles, general-purpose machine guns, medium machine guns, heavy machine guns, rifle grenades, grenade launchers, grenades, underslung grenade launchers, automatic grenade launchers, recoilless rifles, rocket-propelled grenades, anti-tank rifles, man-portable anti-tank missiles, man-portable air-defense systems, and mortars of a calibre of less than 100 millimetres. These weapons are operated by a crew of three to four soldiers for effective results. The increasing terrorist attacks and focus on counter operation has increased the demand for light weapons globally. For instance, in 2017, SmartGlider Light launched 2m-long SmartGlider Light guided air-launched weapon. This weapon weighted 120kg and is equipped with two fold-out mid-body glide wings.
The change in nature of warfare, low cost of weapons and increasing demand by civilians for light weapons are the key driving factors for the light weapons market. In addition, increase in drug trafficking and arming of civilians by governments will lead the growth of light weapons market in a couple of years. The stringent licensing procedure, regulation policies and demobilizing events may limit the growth of the market. However, upgradation of laser technology and increasing demand for anti-tank guided weapons is expected to boost the light weapons market over the forecast period.
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Key players operating in the global light weapons market are Lockheed Martin Corporation, Orbital ATK, Inc., Saab Ab, Rheinmetall AG, Cockerill Maintenance & Ingenierie, Heckler & Koch GmbH, FN HERSTA, Raytheon Company, General Dynamics Corporation, Alliant Techsystems, Inc., BAE Systems, Arsenal JSCo, Lockheed Martin Corporation, NAMMO AS, Rafael Advanced Defense Systems Ltd., Saab AB and Thales SA among others.
- The Alliant Techsystems, Inc., Lockheed Martin Corporation, Raytheon Company, and General Dynamics Corporation are the top leading players of the market. The leading organizations are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.
- Most of the firms have acquired the organization for major expansion of product lines to better serve the ever rising demand for Light weapons and other market segments. For instance in 2016 Lockheed Martin had entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. Sikorsky is acquired by Lockheed Martin as it complements the broad portfolio of world-class aerospace, defense products and technologies of the organization. This acquisition will help the organization to extend its core business into the growing areas of helicopter production and sustainment. Together, company would offer a strong portfolio of helicopter solutions to the global customers and accelerate the pace of innovation and new technology development.
Unguided weapons segment held the highest market size of around USD 6.95 billion in 2018
Technology segment is divided into guided weapons and unguided weapons. The unguided weapons segment held held the highest market size of around USD 6.95 billion in 2018 owing to it use in heavy machine guns, light cannons, recoilless rifles, and other light weapons.
Manpats segment registered the highest market share of 29.48% in 2018 and is anticipated to dominate the market in the forecast period
Type segment includes heavy machine guns, light cannons, manpads, manpats, launchers, light anti-tank weapons, infantry mortars, grenades, anti-aircraft/anti-submarine missiles, and landmines. The manpats segment registered the highest market share of 29.48% in 2018 and is anticipated to dominate the market in the forecast period due to increased consumption of man-portable anti-tank systems and portability as well as it’s easy to use property. These manpats are effective in defense applications against nearly all land-based vehicles in the battlefield.
Defense segment is expected to hold the largest share of 56.16% during the forecast period
Application segment covers defense and homeland security. The defense segment is expected to hold the largest share of 56.16% during the forecast period owing to growing terrorizations posed on human security, countries strengthening their armed forces, and increasing investments in the defense.
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Regional Segment Analysis of the Light Weapons Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. The North America region held the largest market share of approximately 39.36% in 2018 where as the Asia Pacific region held the second dominant position in the global light weapons market. Increasing investment by military for law enforcement purposes, the presence of major players, and rapid technological advancements are some of the factors that led to the growth of light weapons market in North America region. Asia Pacific is the second fastest growing region due to the increasing awareness of civilians in shooting sports, investments by the government for law enforcement and military.
About the report:
The global light weapons market is analysed on the basis of value (USD Billion), volume (Thousand Units), consumption (Thousand Units), imports (Thousand Units) and exports (Thousand Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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