Market Highlights
Automatic Weapons Market Size Valued at USD 12.23 Billion, market Grow at a CAGR Of 8.09% by 2020-2030. Automatic weapons have gained significant traction in recent years owing to high investments in the military and defense industry across the world. Moreover, rising incidents of terrorism and armed conflicts have led to an increase in the demand for automatic weapons. However, the market faces certain challenges such as integrating automatic weapons with multiple platforms.
Segmentation:
The global Automatic Weapons Market Overview has been segmented on the basis of product, end use, and region.
Based on product, the global automatic weapons market has been segmented into automatic rifles, machine guns, light machine guns (LMG), medium machine guns (MMG), automatic launchers, grenade launchers, missile launchers, mortar launchers, automatic cannons, and Gatling guns. The automatic rifles segment is expected to be the largest during the forecast period due to advancements in rifle design by key players.
By end use, the global automatic weapons market has been classified as land, naval, and airborne. The land segment is estimated to be the largest segment during the forecast period. The upgradation of armored platforms, need for connected warfare systems, and growing focus on soldier safety are projected to propel the demand for automatic weapons in the land segment.
Based on region, the global automatic weapons market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. In 2018, North America accounted for the largest market share and the regional market is expected to remain dominant during the forecast period. The US is projected to be the larger country-level market in the region due to consistent invests in the research and development of automatic weapons and related technologies.
Key Players
The key players in the global Automatic Weapons Market Size are General Dynamics Corporation (US), Northrop Grumman (US), Rheinmetall AG (Germany), ST Engineering (Singapore), KBP Instrument Design Bureau (Russia), Heckler Koch AG (Germany), FN Herstal (Belgium), Colt’s Manufacturing Company LLC (US), Israel Weapon Industries (IWI) Ltd. (Israel), China North Industries Corporation (China), Denel Land Systems (South Africa), Kalashnikov Concern (Russia), BAE Systems (UK), Barrett Firearms Manufacturing (US), and Ukroboroprom (Ukraine).
Regional Analysis:
North America is estimated to account for the largest market share in the close-in weapon systems (CIWS) market during the ongoing forecast period. The Asian Pacific region is projected to grow at the highest CAGR during the ongoing forecast period. One of the major factors that are driving the North American automatic weapons market is the continuation of the up-gradation of warfare platforms with newer market technologies in the weapons market in the USA.
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