Dublin, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The "Light Weapons Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global light weapons market is expected to grow from $10.20 billion in 2021 to $10.69 billion in 2022 at a compound annual growth rate (CAGR) of 4.77%. The light weapons market is expected to grow to $12.88 billion in 2026 at a compound annual growth rate (CAGR) of 4.78%.
The light weapons market consists of sales of light weapons by entities (organizations, sole traders, and partnerships) that refer to weapons designed for use by two or three persons serving as a crew can be carried and used by a single person.
These include heavy machine guns, hand-held under-barrel and mounted grenade launchers, portable anti-aircraft guns, portable anti-tank guns, recoilless rifles, portable launchers of anti-tank missiles, and rocket systems, portable launchers of anti-aircraft missile systems, and mortars of a caliber of fewer than 100 millimeters.
The main types of light weapons includes HMG, light cannon, MANPAT, mortar, MANPAD, grenades, missiles, launcher, ATW and landmine. The HMG (heavy machine gun) are the weapons that can fire 500 to 1,000 rounds per minute and will keep firing as long as the trigger is pressed back or the ammo supply is depleted. These weapons are made from materials such as steel and polymers technologies used in these weapons include guided and unguided. The main application of light weapons are in defense and homeland security.
North America was the largest region in the light weapons market in 2021. The regions covered in the light weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing instances of terrorist activities and conflicts and the rise in the number of illegal activities will propel the growth of the light weapons market. Terrorist acts entail the use or threat of violence to instill fear in a large number of people, not only the direct victims.
Light weapons such as pistols, rifles, submachine guns, assault rifles, and light machine guns are used by law regulators to control terror activities. As terrorist activities, conflicts, and illegal activities grow, there will be an increased demand for light weapons to mitigate them. For instance, in February 2019, in India, 40 CRPF personnel were killed in a terror attack at Pulwama, Jammu, and Kashmir.
Weapons were used to increase the efficacy and efficiency of activities such as hunting, crime, law enforcement, self-defense, and warfare. In addition, in 2019, a total of 51.5 lakh (5.15 million) cognizable crimes comprising 32.2 lakh Indian Penal Code (IPC) crimes and 19.4 lakh Special and Local Laws (SLL) crimes were registered nationwide in India. Thus, the increasing instances of terrorist activities and conflicts and the rise in the number of illegal activities will contribute to the growth of the light weapons market.
The evolution of technology is a key trend gaining popularity in the light weapons market. Technology is shaping how wars are fought, borders are protected, crooks are caught, and individual rights are defined. The evolution of technology has led to the development of guided weapons with a high target hit ratio, which is supported through a range of accessories. Weapon sights, night vision equipment, targeting lasers, laser rangefinders, and fire control systems are just a few examples.
For instance, in November 2021, the Bangladesh Navy received QW-18A MANPADS (Man Portable Air Defense Missile System) from China. The QW-18A MANPADS is an upgraded version of the QW-18 which offers electric-servo control actuators which will increase the guidance and flight characteristics and will offer the air defense system with improved capability against supersonic cruise missiles.
In September 2020, Adani Land Defence Systems Technologies Ltd, an Indian manufacturer of defense equipment and an arm of Adani Enterprises acquired a 51% stake in PLR Systems Private Ltd for an undisclosed amount. With this acquisition of a major stake, Adani and IWI (an existing shareholder in PLR) will offer indigenously manufactured defense equipment to the army personnel and an equal number of paramilitary forces and state police forces. PLR Systems Private Limited is an Indian aerospace and defense company offering light weapons.
The countries covered in the light weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the light weapons market are
- Lockheed Martin Corporation
- Alliant Techsystems Inc
- Rheinmetall AG
- Raytheon Technologies Corporation
- Thales Group
- Heckler & Koch
- F N Herstal
- SAAB AB
- MBDA Inc
- BAE Systems plc
- Rostec
- Rafael Advanced Defense Systems Ltd
- General Dynamics Corporation
- John Cockerill (Cockerill Maintenance)
- Elbit Systems
- Arsenal JSCo
- Indian Ordnance Factories Organization.
Scope
Markets Covered:
1) By Type: HMG; Light Cannon; MANPAT; Mortar; MANPAD; Grenades; Missiles; Launcher; ATW; Landmine
2) By Application: Defense; Homeland Security
3) By Technology: Guided; Unguided
4) By Materials: Steel; Polymers
Companies Mentioned: Lockheed Martin Corporation; Alliant Techsystems Inc.; Rheinmetall AG; Raytheon Technologies Corporation; Thales Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
For more information about this report visit https://www.researchandmarkets.com/r/3j8z2l
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