Global Small Arms and Light Weapons (SALW) Market is estimated to reach $25.6 billion by 2024; growing at a CAGR of 3.9% from 2016 to 2024. Small Arms and Light Weapons (SALW) comprise two classes of weapons that consist of small arms and light weapons. Small arms are made solely for discrete use, whereas light weapons are arms to be used by a crew. Various factors such as rising issues on human rights and safety & security, growing consequences of urban warfare, and growing terrorism incidents across the globe are expected to boost the growth of the global small arms and light weapons (SALW) market.The advancement of light-weight weapons for further improvement of the defense system is the recent trend in the developed nations.
Major factors driving the global small arms and light weapons (SALW) market are militarization of police force, change in warfare style, and increasing use of small weapons for self-defense strategies. However, import and export of small arms and illegal trading may hamper the market growth. Furthermore, rising economies would unfold with numerous growth opportunities in the forecasted year.
Major segments of the global small arms and light weapons (SALW) market are type, application, and geography. The type segment comprises small arms and light weapons. Further, Small arms comprise rifles, pistols, handguns, man-portable machine guns, shotguns, and other small arms. While light weapons comprise mortars, landmines, grenade launchers, rocket launchers, rocket-propelled grenades (RPGs), anti-aircraft weapons, anti-tank weapons, and other light weapons. The application comprises law enforcement, military, and other applications.
Geographically, the global small arms and light weapons (SALW) market is categorized into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Russia, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
The major players competing in the market are Sturm, Ruger & Company, Inc., General Dynamics Corporation, SIG SAUER GmbH & Co., Glock Ges. m.b.H., Browning Arms Company, Beretta S.p.A., Lockheed Martin Corporation, FN Herstal S.A., Heckler & Koch GmbH, and Colt’s Manufacturing Company LLC, among others.
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