The global automatic weapons market is estimated to account US$ 6.61 Bn in 2018 and is expected to grow at a CAGR of 9.9% during the forecast period 2018 – 2027, to account to US$ 14.95 Bn by 2027.
Geographically, North America holds the largest automatic weapons market share, owing to rapid technological developments, numerous investments, and supportive Government policies in North American countries. However, Asia Pacific automatic weapons market is projected to grow with the highest growth rate during the forecast period. Asian countries contribute nearly 28% of the total global military spending. The favorable change in the economic structure in many of the Asian countries has boosted the military expenditure in the recent years. Due to rising tension and conflicts with China and Pakistan, the Indian military’s strategic procured significantly large numbers of automatic rifles and carbines. This as a result has positively impacted automatic weapons market.
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The global automatic weapons market Armalite Inc., Barrett Firearms Manufacturing, Colt’s Manufacturing Company, LLC, Fabbrica d’Armi Pietro Beretta S.P.A, FN America, LLC, General Dynamics OTS, Heckler & Koch AG, Northrop Grumman Corporation, Rheinmetall AG, and Singapore Technologies Engineering Ltd. among others.
The incorporation of new, robust, lightweight combat equipment with artificial intelligence (AI) and machine learning solutions for land, air, and naval forces, allows the governments to strengthen their military power. The military forces of both developed and developing countries are continually focusing on the procurement of advanced technological and automatic weapons. These weapons have several advantages such as it can be operated from a remote location and integrated with turrets to hit the target accurately. However, some of the automated weapons perform certain malfunctions such as unwanted firing. Whereas, the global military aircraft sector in the current market scenario is increasingly demanding integration of advanced technological equipment to combat efficiently during the war. The market players are continuously concentrating on the advancement of airborne capabilities to counter the target proficiently. The adoption of automatic weapons by land and marine forces is growing with the rising cross border activities globally.
The increasing investment towards procurement of fully automatic weaponry and semi-automatic weaponry intended for military modernization is driving the automatic weapons market. Various countries in recent times are facing cross border threats, such as India also faces cross border challenges from its neighboring states, namely Pakistan and China. With an objective to minimalize damages to the country as well as soldiers, the Indian defense ministry is undertaking significant steps towards soldier modernization. Several other defense forces are also equipping their armed forces with automatic weapons to modernize their soldiers, which is a key boosting factor for automatic weapons market.
Some of the factors propelling the market for automatic weapons include the rising cross border and terrorist activities, growing demand of light weight and efficient automatic weapons, and increasing military expenditures. However, malfunctioning of automatic weapons is a key restraint that is hampering the growth of the automatic weapons market. Moreover, boosting focus on enhancing the airborne capabilities with integration of automatic weapons is anticipated to be opportunistic for the automatic weapons market.
The market players present in automatic weapons market are mainly focusing on the product enhancements by implementation of advanced technologies as well as contracts signed with the governments. The large firms are adopting the strategy of contracts and acquisitions with the various companies for enhancing its capabilities and expanding its footprint in various geographies. This type of strategy allows the companies for strengthening its footprint in the market. Also, key market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.
The report segments the global automatic weapons market as follows:
Global Automatic Weapons Market – By Product Type
- Automatic Launchers
- Automatic Rifle
- Gatling Gun
- Machine Gun
- Automatic Cannon
Global Automatic Weapons Market – By Weapon Type
- Fully Automatic
Global Automatic Weapons Market – By Application
Global Automatic Weapons Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
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