LONDON, July 20. 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the small arms and light weapons market, 3D printing is an important innovation in small arms manufacturing. The availability of this technology for criminal and terrorist activities is of particular concern. Currently, stealing or buying weapons from the illicit market may require less effort than printing an effective and reliable weapon. But that could change. Once production costs decrease and quality increases, 3D printing should become a lucrative alternative for the manufacture and sale of illicit small-scale weapons. Printed parts of a 3D printed gun can be made using a standard FDM (Fused Deposition Modeling) desktop printer. This technology works by extruding thin lines of plastic, building layer after layer on a build plate until you have a complete 3D model. In 2019, the US military experimented with a 3D printed grenade launcher system called RAMBO (Rapid Additively Manufactured Ballistic Ordnance). Firing 3D-printed 40mm grenades, RAMBO is inspired by the military’s M203 grenade launcher and demonstrates how rapid, localized production could bridge or replace traditional supply chains.
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The size of the global small arms and light weapons market is expected to grow from $11.02 billion in 2021 to $11.47 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The growth of the market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and closure of business activities which resulted in operational challenges. The market share of small arms and light weapons is expected to reach $12.17 billion in 2026 at 1.5% CAGR.
Increase in military modernization programs will drive the growth of small arms and light weapons market. As of December 2021, the U.S. Army’s modernization effort is well underway, with service leaders committing to have 24 of the service’s 35 modernization programs in the hands of soldiers as systems or prototypes on the field in fiscal year 2023. The multi-billion dollar effort includes a wide range of next-generation battlefield capabilities, from new ground vehicles to long-range missiles to enhanced network tools, so that the service is moving away from counterterrorism operations toward near-peer threats in China and Russia. Hence, the growing military modernization programs will drive the growth of the small arms and light weapons market.
Key players in the small arms and light weapons market are Beretta SpA, FN Herstel, Smith & Wesson Holding Corporation, SIG Sauer, Carl Walther GmbH., GLOCK Ges mb H, Colt’s Manufacturing Company LLC, Lockheed Martin Corporation, Thales Group, SAAB AB, Glock Ges. mbH, Browning Arms Company, Heckler and Koch, Sturm Ruger & Company and Alliant Techsystems.
The global Small Arms and Light Weapons industry report is segmented by Type into Small Arms and Light Weapons; by application in the military, law enforcement; by caliber in 14.5mm, 12.7mm, 9mm, 7.62mm, 5.56mm; by defence, civil and commercial end-use sector; by action in semi-automatic, automatic; by firing systems in recoil, gas, manual systems
Asia Pacific is the greater region in the small arms and arms market. Western Europe should be the fastest growing region in the forecast period. Regions covered in the small arms and light weapons market outlook are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle- East and Africa.
The Global Small Arms and Light Weapons Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the small arms and light weapons market and Small Arms, Small Arms and Light Weapons Market Analyze and forecast market size and growth for overall market, Small Arms and Light Weapons Market segments and geographies, Small Arms and Light Weapons Market trends, Small Arms and Light Weapons, Small Arms and Light Weapons Market Drivers, Small Arms and Light Weapons Market Restraints, Key Competitor Revenues, Profiles and Market Shares in 1000+ Industry Reports, covering more than 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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