The rising interests of people in activities such as hunting and shooting, for instance, trends such as trophy hunting or target shooting have become popular in major regions such as North America and Europe. The increase in the demand of handguns for civilian use and law enforcement agencies for self-defense owing and the increasing crime rates, terrorism, political and social turmoil conditions in Asia-Pacific, Middle East, and Eastern Europe has led to an increase in the small arms market. Moreover, the different regions are increasing their defense expenditure to be more stable and competitive on the global level. The increasing defense budget of the various countries is expected to drive the global small arms market.
According to a new market intelligence report by BIS Research titled "Global Small Arms Market, Analysis and Forecast, 2018 - 2023", the prominent application of firearms is across military and law enforcement industries. Firearms are lethal and are mostly used by military in case of a war.
The law-enforcement agencies also make use of small arms for public safety. However, hunting & sport is another category in which arms have been used for shooting activities.
There has been growth in the number of firearms manufactured across the globe due to the growing number of international and national events organized by the sports organizations. For instance, according to the Bureau of Alcohol, Tobacco, Firearms and Explosives annual report 2016, total number of guns manufactured in the U.S.
increased from 9,358,661 units in 2015, to 11,497,441 units in 2016.
This report is a meticulous compilation of research on more than 50 players in the small arms ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiles of around 15 companies which includes Browning International S.A., Sig Sauer Inc., Colt’s Manufacturing Company, Beretta Arms Company, FN Herstal, Singapore Technologies Engineering Ltd., Taurus Holdings Inc, Glock Inc., Remington Outdoor Company, Heckler & Koch AG, American Outdoor Brands Corporation (Smith & Wesson), Israel Weapon Industries (IWI), Kalashnikov Concern, O.F.
Mossberg & Sons, and Sturm, Ruger & Co.
Key questions answered in the report:
- What are the trends in the global small arms market across different regions?
- What are the major driving forces that tend to increase the demand for the global small arms market during the forecast period, 2018-2023?
- What are the major challenges inhibiting the growth of the global small arms market?
- Who are the key players in the global small arms market and competitive benchmarking?
- What is the revenue generated by the global small arms market by segments (gun type, cutting type, operation type, applications) in 2017, and what will be the estimates by 2023?
- How will each segment of the global small arms market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2023?
- What are the trends in the global small arms market across different regions, revenue generated in 2017 and what will be the estimates by 2023?
- How will the industry evolve during the forecast period 2018-2023?
- Which region will contribute to the highest sales of the global small arms market during the forecast period?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- What are the major opportunities that the small arms manufacturers foresee?
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