Small Arms and Light Weapons Global Market Report 2024

The small arms and light weapons market size has grown strongly in recent years. It will grow from $13.09 billion in 2023 to $14.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%.The historical period's growth can be ascribed to an increase in disposable income, the growth of emerging markets, a rise in urban warfare, an escalation in domestic violence, an upsurge in military expenditure, and a growing incidence of drug trafficking and terrorist activities.

The small arms and light weapons market size is expected to see steady growth in the next few years. It will grow to $17 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period is linked to the rise in defense spending and military modernization programs. Key trends expected in this period involve the utilization of polymers for the production of light weapons and ammunition, enhancements and modularity in the design of military-style weapons, the adoption of 3D printing technology for manufacturing small arms, the integration of laser technology, the implementation of day/night de-camouflage technology for light weapons, and an increase in mergers and acquisitions.

The anticipated growth in the small arms and light weapons market during the forecast period is expected to be driven by an increase in defense spending globally. Countries worldwide are intensifying their investments in defense due to ongoing conflicts and rivalries with other nations. As an illustration, data from the Stockholm International Peace Research Institute (SIPRI) in April 2022 revealed that global military spending was projected to rise by 0.7% in real terms to $2,113 billion in 2021. This marked the seventh consecutive year of increasing military expenditures. Notably, military research and development (R&D) funding in the United States surged by 24% from 2012 to 2021, while China, the world's second-largest spender, allocated an estimated $293 billion to its military in 2021, reflecting a 4.7% increase over 2020. China has consistently increased its military spending for the past 27 years, highlighting the role of heightened defense spending in propelling the growth of the small arms and light weapons market.

The small arms and light weapons market is also expected to experience growth due to a rise in territorial activities worldwide. Guns and accessories serve various purposes, including self-defense, law enforcement, hunting, sports shooting, and others. The increasing territorial activities globally are anticipated to drive demand for small arms and light weapons, supporting the requirements arising from these activities. For instance, a report published by the United Nations High Commissioner for Refugees in June 2022 highlighted that, globally, 89.3 million people were displaced from their homes by the end of 2021 due to war, violence, fear of persecution, and human rights violations. This figure is the highest since World War II and more than double the 42.7 million individuals forcibly displaced a decade ago. The number of refugees also more than doubled from 10.5 million a decade ago, reaching 21.3 million at the end of 2021 from 20.7 million in 2020. Hence, the increasing territorial activities worldwide are expected to be a significant driver for the growth of the small arms and light weapons market.

The small arms and light weapons market is witnessing a prominent trend with the increasing adoption of technological advancements. Leading companies in this market are strategically focused on the development of advanced technology solutions for small arms and light weapons. As an example, in August 2021, MZA Associates Corp., a laser weapons company based in the United States, disclosed its collaboration with the US military to create a compact, portable, low-cost, and reliable Counter-Unmanned Aircraft Systems High Energy Laser Weapons System (C-UAS HELWS). This system is designed to damage or destroy unmanned aerial vehicles (UAVs) trespassing into the airspace of military bases or other sensitive installations.

Prominent companies in the small arms and light weapons market are channeling their efforts into introducing innovative products, such as the FN Hi-Power 9X19MM Pistol, to better meet the evolving needs of their customer base. The 9x19mm handgun, also known as the 9mm Parabellum or 9mm Luger, is a rimless, tapered cartridge commonly used in pistols and submachine guns. For instance, in May 2022, FN Herstal SA, a Belgium-based manufacturing company specializing in pistols, rifles, submachine guns, and machine guns, launched the FN Hi-Power 9X19MM Pistol. This handgun is designed to accommodate any user's hand shape, featuring an optimized grip angle similar to the Hi-Power, extensively researched to achieve the optimal comfort. The pistol's balanced design and narrow bore axis enhance control, especially for rapid follow-up rounds. The grip includes retention notches and three adjustable ergonomic coverings with multiple non-slip grip areas. It combines internationally proven solutions with unique patented FN features, delivering an ergonomic, reliable, and secure weapon suitable for both military forces and law enforcement.

In November 2022, Czechoslovak Group, a Czech-based defense industry machinery manufacturer, acquired a 70% ownership stake in Fiocchi Munizion for an undisclosed amount. This strategic acquisition by CSG Group aims to expand its small caliber ammunition portfolio, supporting global development through fresh investments in existing factories. Fiocchi Munizion, based in Italy, is a company specializing in the development, manufacturing, and sale of high-end small-caliber ammunition for hunting, shooting sports, and security forces.


Major companies operating in the small arms and light weapons market report are Smith & Wesson Brands, Inc., Sturm, Ruger & Company, Inc., General Dynamics Corporation, SIG Sauer, Inc., Heckler & Koch GmbH, FN Herstal S.A., Colt's Manufacturing Company LLC, Raytheon, Thales Group, GLOCK Gesellschaft m.b.H., Israel Weapons Industry (IWI), Kalashnikov Group, Èeská Zbrojovka a.s, China South Industries Group (CSGC), China Aerospace Science and Industry Corporation (CASIC), China North Industries Group Corporation Limited (Norinco), Česká zbrojovka a.s, Berette S.p.A., Lockheed Martin Corporation, LAHAB, Textron Systems, PLR Systems Pvt Ltd., Armscor, Guns & Tactics Ltd., Magnum Arms, Guns Galore, BNTI Arms, Athena Security Inc., Protection Development International Corporation.

Asia-Pacific was the largest region in the small arms and weapons market in 2023. Western Europe is expected to be the fastest-growing region in the global small arms and light weapons market during the forecast period. The regions covered in the small arms and light weapons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the small arms and light weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories of small arms and light weapons are, indeed, small arms and light weapons. Small arms, commonly referred to as firearms or guns, are portable lethal weapons designed for individual use, capable of expelling or launching projectiles through explosive action. These weapons come in various calibers such as 14.5mm, 12.7mm, 9mm, 7.62mm, and 5.56mm. The firing systems are categorized as recoil-operated, gas-operated, and manual, while the actions of the weapons can be manual, semi-automatic, or automatic. Small arms and light weapons find applications in the military and law enforcement sectors, serving the defense, civil, and commercial domains.

The small arms and light weapons market research report is one of a series of new reports that provides small arms and light weapons market statistics, including small arms and light weapons industry global market size, regional shares, competitors with a small arms and light weapons market share, detailed small arms and light weapons market segments, market trends and opportunities, and any further data you may need to thrive in the small arms and light weapons industry. This small arms and light weapons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The small arms and light weapons market consists of sales of pistols, rifles, submachine guns, assault rifles, and light machine guns. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.