Market Share of Automatic Weapons Industry
The automatic weapons market is semi-consolidated in nature due to the presence of a few players holding significant shares in the market. Northrop Grumman Corporation, General Dynamics Corporation, Sig Sauer, Inc., Rheinmetall AG, and BAE Systems plc are some of the major players in the market.
The automatic weapons industry saw many changes in the recent past, and weapons nowadays are made based on the specific requirements of the military. Producing a better range of lightweight products will be helpful to the players in obtaining newer contracts. Additionally, with the increasing offshore war zone deployments, the militaries are now looking at firearms that are durable for years and are usable in all environmental conditions.
In this regard, the manufacturers are developing different parts of the weapons with materials that will be of best use, even in hostile conditions. With the contracts for automatic weapons being done with large procurement volumes, players are being very competitive in terms of product offerings. It is to gain new contracts, which generally amount to tens of thousands of rifle sales in a single contract.
For instance, during 2022, Sig Sauer and the US Government carried out numerous technical tests as well as a soldier touch point in relation to the most recent weapon configuration. The objective of this engagement was to obtain user acceptance, load carriage, and integration into the XM157 fire control optic developed by Vortex Optics Inc., which would be mounted on any XM7 or XM250 automatic rifle. The US Army will carry out an operational test with a view to determining conditions for the first unit equipped by the year 2024. Future operational testing is planned for 2023 to assess natural environments and airborne qualifications.
Similarly, in July 2021, the Ordnance Factory (Tamil Nadu, India) launched a mini version of the Trichy Assault Rifle 'TriCa.' Trica is a high-tech and low-sound weapon designed for helicopter crews, security personnel, infantry combat vehicles, and special operation forces. The advantage of TriCa is that it can use interchangeable parts, ammunition, and magazines for AK-47 and TAR.
Automatic Weapons Market Leaders
Rheinmetall AG
BAE Systems plc
Sig Sauer, Inc.
General Dynamics Corporation
Northrop Grumman Corporation
*Disclaimer: Major Players sorted in no particular order
