Key Players:

Denel Soc Ltd (South Africa), JSC SPA Bazalt (Russia), KBP Instrument Design Bureau (Russia), Lockheed Martin Corporation (US), MBDA Holdings SAS (France), Rafael Advanced Defense Systems Ltd (Israel), Raytheon Company (US), Roketsan AS (Turkey), Saab AB (Sweden), Thales Group (France).

Market Overview:

The Shoulder-Fired Weapons Market is projected to reach USD 8.57 Billion by 2030 at 4.8% CAGR during the forecast period 2020-2030. A single soldier may control a weapon system, the shoulder-fired weapon. Weakly equipped forces and militias often utilize shoulder-fired weapons to take down opposing helicopters, military installations, and armoured vehicles. More and more people are interested in shoulder-fired weapons of mass devastation.

Defence Budgets Will Be Increased In recent years, the amount spent on the military has expanded substantially worldwide. Since 2017, global military spending has increased by 2.6 per cent, according to the Stockholm International Peace Research Institute (SIPRI). The market for modern weapon systems such as guided shoulder-fired guns is likely to rise as military spending rises.

The COVID-19 epidemic has significantly influenced the worldwide market for shoulder-fired weapons. There was a significant drop in productivity expansion in almost every major nation during the COVID-19 epidemic, which affected consumer buying habits. Consequently, a decrease in the manufacturing rate of shoulder-fired weapons will hurt the development of the shoulder-fired weapons industry. Furthermore, as governments throughout the globe begin to loosen corporate regulations, this scenario is projected to improve.

Market Segmentation:

According to the reports, the global Shoulder-Fired Weapons Market Report is segmented based on type, platform, and region.

When it comes to shoulder-fired guns, the ammunition category dominated in 2016 and is predicted to continue dominating the market through 2022. China, India, and other developing nations are increasing their investments in man-portable weapon systems. Shoulder-fired weapons improve military ground combat effectiveness at a fraction of the expense of other systems. These nations are increasing their investments in cutting-edge technology and producing a broad variety of offensive warfare vehicles. A recent deal between Israel and India saw the purchase of more than 275 cruise missiles and 5,500 spike rockets for the Indian army. One thousand more rocket launchers and 30,000 more missiles are part of the arrangement, which involves transferring knowledge.

Regional Classification:

The United States dominates the worldwide market for Shoulder-Fired firearms. This pattern is expected to persist over the next several years. US and Canadian militaries growing reliance on Shoulder-Fired Weapons Market Research for combat operations is projected to fuel their demand in this area. This Asia Pacific market is expected to rise at a high CAGR during the projection period. The expansion of the market in the area is being fueled by increased military spending and an increase in terrorist activities in Indonesia, India, and Australia.

Increased military spending by nations like Saudi Arabia, UAE, and Israel boosts the Middle East Africa industry. Shoulder-fired guns are likely to see a rise in demand due to increased employment of portable weapon systems by military groups in Brazil and Mexico.

Industry News:

According to U.S. Marine Corps Systems Command, a new anti-tank and anti-personnel weapon will be available to infantry Marines at Camp Lejeune, North Carolina, starting in July 2021. They developed the MAAWS to enhance their current arsenal of shoulder-launched rockets with reloadable, recoilless rocket technology.

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