Over the past few years, the advancement in the technology has also led the development of the portable weapons. Portable weapons are the small and light weapons, which are gaining immense popularity on the global scale owing to their advantages such as ease of operation, cost-effective, and durable. According to the latest market intelligence report by BIS Research titled, ‘Global Light Weapons Market-Analysis and Forecast (2017-2021),’ the market accounted a value of $10.21 billion in the year 2016, with military end-user holding the highest share. Further, it is expected that the demands for light weapons will increase from 2017-2021, owing to the increase in the terrorist incidents, rising instability in Middle-East and Africa, and military modernization program, among others.
Light Weapons refers to any weapon that can be carried by two or three people serving as a crew. Light weapons are increasingly being adopted across the military and homeland security end-users. Moreover, the adoption of light weapons for military usage is more prevalent as compared to the homeland security, globally, owing to the changing warfare nature, increasing land disputes across borders, and rise in defense spending. Further, the rise in demands of light weapons across emerging nations and military modernizations program are expected to present a pool of opportunities for the light weapons market, in the forthcoming period.
The demand for light weapons is swiftly increasing among different end-users, across the globe. Moreover, low cost, lethality and portability, and simplicity of weapons have increased their adoption in armed forces as well as for civilians. Further, Anti-Tank Guided Weapons (ATGW), dominate the market for light weapons and held the highest share in the market for light weapons. The substantial percentage of ATGW is due to the growing needs for the guided weapons, across defense agencies. Moreover, the grenade launchers market is expected to witness the highest CAGR, during the forecast period. Some of the prominent market players of light weapons are Lockheed Martin, Orbital ATK, Raytheon, General Dynamics, BAE Systems, Thales Group, and Elbit Systems, among others.
Geographically, North America is leading the market for light weapons followed by Asia-Pacific, Europe, and Rest of the World (RoW). The United States is the dominating country in the light weapons market and is expected to continue its dominance during the forecast period. Moreover, Asia-Pacific is expected to register the highest growth rate from 2017-2021, with China leading the market in the respective region. The region is expected to witness the high growth rate, among others, owing to the continuous initiatives taken by the leading market players as well as the government of various countries’.
BIS Research has conducted extensive research on the global light weapons market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.