Light Weapons Market Share, Size, Demand, Leading Manufacturers, Growth Drivers and Industry Outlook 2023-2028

Byimarcsuraj

The latest report by IMARC Group, titled “Light Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry. It also offers insights on light weapons market share, revenue, competitor and regional analysis, and latest advancements in the market.

The global light weapons market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 18.0 Billion on by 2028, exhibiting a growth rate (CAGR) of  5.1% during 2023-2028

Light weapons represent a group of weapons that are specifically designed to be utilized by more than one crew member but can also be used by one individual under certain conditions. They usually find extensive applications by defense forces in combat missions and naval operations. Light weapons comprise mounted grenade launchers, man-portable anti-defense systems (MANPADS), heavy machine guns, recoilless rifles, anti-tank missile launchers, mortars of lesser caliber, anti-tank guns, landmines, anti-aircraft missiles, etc. Some of the most common materials used in the manufacturing of these weapons include polymers and steel.

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Industry Trends & Drivers

The expanding defense sector is primarily driving the light weapons market. Additionally, the widespread adoption of precision-guided firearms with advanced features, such as fire control, targeting, and advanced head-up display technologies, is further bolstering the market growth. Besides this, the rising number of contracts for light weapons from military forces and homeland security, the low production cost of the product, and the inflating defense expenditure capacities of government bodies are acting as significant growth-inducing factors.

Moreover, continuous improvements in weapon manufacturing, such as the introduction of numerous anti-tank missiles, the growing integration of laser systems with light cannons, and the increasing utilization of Artificial Intelligence (AI) features, are positively influencing the global market. Apart from this, the elevating prevalence of cross-border disputes, terrorism, and political unrest between neighboring countries is also stimulating the market growth. Furthermore, extensive investments in R&D activities by key market players are anticipated to fuel the light weapons market over the forecasted period.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

BAE Systems plc, FN Herstal (Herstal Group), General Dynamics Corporation, Heckler & Koch GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Heavy Machine Guns (HMGs)
  • Grenades and Grenade Launchers
  • Mortars
  • Man-portable Anti-tank Systems (MANPATS)
  • Man-portable Air Defense Systems (MANPADS)
  • Others

Breakup by Technology:

  • Guided
    • Laser Guided
    • Infrared Guided
    • Satellite Guided
    • Semi-automatic Command to Line of Sight
  • Unguided

Breakup by Application:

  • Defense
  • Homeland Security

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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