launchora_img

Automatic Weapons Market Top Companies, Business Growth 2027

Info

The global automatic weapons market size is expected to reach USD 15.04 billion by 2027. This is attributable to the increasing demand for advanced automatic weapons and the rising defense budget of nations across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Automatic Weapons Market Size, Share & Industry Analysis, By Product (Automatic Rifles, Machine Guns, Automatic Launchers, Automatic Cannons, and Gatling Guns), By Type (Fully Automatic and Semi-Automatic), By Caliber (Small Caliber, Medium Caliber, and Large Caliber), By End Use (Land, Naval, Airborne, and Handheld & Stationary) and Regional Forecast, 2020-2027.” The report mentions that the market stood at USD 8.44 billion in 2019 and is likely to exhibit a CAGR of 7.85% between 2020 and 2027.

Increasing Demand for Advanced Weapons to Upgrade Defense amid COVID-19

As per a New York Times analysis of federal data, approximately 1.9 million guns were sold in the U.S. during the global pandemic. The growing sense of security and well-being is driving the people to buy weapons for their safety. The novel coronavirus may have affected several economies, however, the demand for weapons has been consistent that will bode well for the market growth in the forthcoming years.

An automatic weapon is a type of weapon that has the capability of firing gun shots automatically. They do not require manual operation every time while firing, and automatically burst fire. Additionally, these self-loading weapons are preferred by people globally owing to their sophistication and convenience in handling.

List of the Companies Profiled in the Global Market for Automatic Weapons:

BARRETT (The U.S.)

BAE Systems (The U.K.)

China North Industries Corporation Norinco (China)

Colt’s Manufacturing Company LLC (The U.S.)

Denel Land Systems (South Africa)

FN Herstal (The U.K.)

General Dynamics Corporation (The U.S.)

Heckler & Koch AG (The U.S.)

Israel Weapon Industries (IWI) Ltd (Israel)

Kalashnikov Concern (Russia)

KBP Instrument Design Bureau (Russia)

Northrop Grumman Corporation. (The U.S.)

Rheinmetall AG (Germany)

ST Engineering (Singapore)

Ukroboroprom (Ukraine)

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/automatic-weapons-market-103524

DRIVING FACTORS

Rising Spend on Defense Budget to Augment Growth

According to the U.S. Department of Defense, around USD 686.1 billion of defense budget was approved by the government in the U.S. in 2019. The increasing defense budget by the nation’s globally to upgrade their military is likely to surge the demand for advanced automatic weapons. Additionally, the escalating tension of war is propelling the countries to adopt advanced weapon systems that are expected to contribute to the growth of the global automatic weapons market in the forthcoming years.

SEGMENTATION

Automatic Rifles Held 40.57% Market Share in 2019

The automatic rifles segment, based on product, held a market share of about 40.57% compared to others. The segment is expected to experience a significant growth owing to the increasing demand for automatic rifles from armed forces during the forecast period.

REGIONAL INSIGHTS

North America to Remain at Forefront; Presence of Established Players to Augment Growth

Among all the regions, North America is expected to hold the highest position in the global automatic weapons market during the forecast period. This is attributable to the presence of established manufacturers such as Northrop Grumman Corporation, General Dynamics Corporation, and others. These companies are developing advanced automatic weapons to cater to the increasing demand for ammunition in the region. North America stood at USD 3.10 billion in 2019.

The market in Asia-Pacific is expected to experience an exponential growth backed by the rising government funding to upgrade the nation’s defense along the borders that will favor the demand for sophisticated automatic weapons in the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Key Players Sign Contracts to Expand Their Product Portfolio and Boost Sales Revenue

The global automatic weapons market comprises several major companies that are focusing on signing contracts either with the government agencies or private companies. These companies are focusing on developing advanced automatic weapons and further boosting their sales revenue to maintain their dominance in the market.

Industry Development:

March 2020 – Rheinmetall, a leading German-based weapons manufacturer, signed a contract with Switzerland’s Federal Office for Defense. As per the contract, the company will provide rifle-mounted laser targeting modules, along with spare parts, accessories, and training support for the Swiss army.


Be the first to recommend this story!
launchora_img
More stories by Ashwini
Automatic Weapons Market Trends, Growth, Size, Seg...

The global Blockchain Supply Chain Finance Market size (2022-2027)

00
Ultrasonic Testing Market Key Players Analysis, Ov...

The global ultrasonic testing market size is projected to reach USD 3,671.9 million by 2027

00
Aircraft Lighting Market -Global Demand in 2021, G...

The global aircraft lighting market size is set to gain impetus from the increasing demand for light

00

Stay connected to your stories

Automatic Weapons Market Top Companies, Business Growth 2027

26 Launches

Part of the Culture collection

Published on July 25, 2022

Recommended By

(0)

    WHAT'S THIS STORY ABOUT?

    Characters left :

    Category

    • Life
      Love
      Poetry
      Happenings
      Mystery
      MyPlotTwist
      Culture
      Art
      Politics
      Letters To Juliet
      Society
      Universe
      Self-Help
      Modern Romance
      Fantasy
      Humor
      Something Else
      Adventure
      Commentary
      Confessions
      Crime
      Dark Fantasy
      Dear Diary
      Dear Mom
      Dreams
      Episodic/Serial
      Fan Fiction
      Flash Fiction
      Ideas
      Musings
      Parenting
      Play
      Screenplay
      Self-biography
      Songwriting
      Spirituality
      Travelogue
      Young Adult
      Science Fiction
      Children's Story
      Sci-Fantasy
      Poetry Wars
      Sponsored
      Horror
    Cancel

    You can edit published STORIES

    Language

    Delete Opinion

    Delete Reply

    Report Content


    Are you sure you want to report this content?



    Report Content


    This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!



    By signing up you agree to Launchora's Terms & Policies.

    By signing up you agree to Launchora's Terms & Policies.