Light Weapons Global Market Growth Outlook Through 2024-2033
Light Weapons Market Growth Outlook Through 2024-2033 You Can Now Pre Order Your Report To Get A Swift Deliver With All Your Needs ”
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LONDON, GREATER LONDON, UNITED KINGDOM, September 13, 2024 /EINPresswire.com/ --
The light weapons market has experienced robust growth in recent years, expanding from $12.13 billion in 2023 to $13.27 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to counter-terrorism operations, law enforcement needs, small arms proliferation, geopolitical tensions, firearms trade.
Strong Future Growth AnticipatedThe light weapons market is projected to continue its strong growth, reaching $18.53 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to unmanned aerial systems (UAS), biosecurity threats, global health crises, chemical and biological protection threats, demilitarization initiatives.
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Growth Driver Of The Light Weapons MarketThe growing defense budget will propel the growth of the light weapons market. A defense budget is a government's allocation of funds for military expenditures and national security. Defense budgets are used for light weapons development as they provide the necessary funding for the research, development, procurement, and maintenance of light weapons.
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Major Players And Market TrendsKey players in the light weapons market include Lockheed Martin Corporation, Alliant Techsystems Inc., Rheinmetall AG, Raytheon Technologies Corporation, Thales Group.Major companies operating in the light weapons market are focusing on product innovation, such as thermal weapon sights to enhance military effectiveness, safety, and operational capabilities. Thermal weapon sights, or thermographic weapon sights, are sighting devices that combine a compact thermographic camera and an aiming reticle.
Segments:1) By Type: HMG, Light Cannon, MANPAT, Mortar, MANPAD, Grenades, Missiles, Launcher, ATW, Landmine2) By Application: Defense, Homeland Security3) By Technology: Guided, Unguided4) By Materials: Steel, Polymers
Geographical Insights: North America Leading The MarketNorth America was the largest region in the light weapons market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the light weapons market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Light Weapons Market DefinitionLight weapons refer to weapons designed for use by two or three persons serving as a crew can be carried and used by a single person. These are incendiary devices, crew-served kinetic firearms, or shoot explosive munitions.
Light Weapons Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Light Weapons Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on light weapons market size, light weapons market drivers and trends, light weapons market major players, light weapons competitors' revenues, light weapons market positioning, and light weapons market growth across geographies. The light weapons market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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September 13, 2024, 16:30 GMT
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