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Small Arms Market to Generate $13.75 Billion by 2030: Allied Market Research

·5-min read

[233 Pages Report] Rise in demand for the small arms for competitive sporting events and surge in number of territorial conflicts drive the growth of the global small arms market. North America held the largest share in 2020, contributing to nearly two-fifths of the market. The small arms industry witnessed a steady growth in 2020, due to adverse impact of the pandemic and decline in the supply of firearms for sports and law enforcement applications.

Portland, OR, Nov. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global small arms market was pegged at $8.39 billion in 2020, and is expected to reach $13.75 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.

Increase in demand for the small arms for competitive sporting events and rise in number of territorial conflicts across the world have boosted the growth of the global small arms market. However, stringent small arms ownership regulations hinder the market growth. On the contrary, surge in military expenditure and agreements and contract with law enforcement and military agencies are expected open new opportunities for the market players in the future.

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Covid-19 scenario on Small Arms Market:

  • The small arms industry witnessed a steady growth in 2020, due to adverse impact of the pandemic and decline in the supply of firearms for sports and law enforcement applications.

  • The strict regulations regarding social distance created a disruption in manufacturing and supply chain.

  • The majority of developing facilities of small arms halted due to commute restrictions and workforce unavailability.

The report segments the global small arms market on the basis of end use sector, type, action, and region.

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Based on end use sector, the civil & commercial segment held the largest share in 2020, accounting for more than two-thirds of the market. Moreover, the segment is estimated to register the highest CAGR of 5.4% during the forecast period. The report includes an analysis of the defense segment.

On the basis of type, the pistol segment dominated the market in 2020, contributing to more than one-third of the market. Moreover, the segment is projected to manifest the highest CAGR of 5.7% during the forecast period. The report also analyzes the segments such as shotgun, revolver, and others.

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The global small arms market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for nearly two-fifths of the market. In addition, the region is expected to register the highest CAGR of 6.0% during the forecast period.

The global small arms market report includes an in-depth analysis of the prime market players such as CZG - Ceská zbrojovka Group SE, Fabbrica d'Armi Pietro Beretta S.P.A., FN Herstal, Heckler & Koch, ISRAEL WEAPON INDUSTRIES (I.W.I) LTD, Smith & Wesson Brands, Inc., Sturm, Ruger & Co., Inc., Taurus International Manufacturing, Inc., Webley & Scott, and Weihrauch & Weihrauch Sport GmbH & Co. KG.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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