Market Size of Light Weapons Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Latin America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Light Weapons Market Analysis
The light weapons market is expected to register a CAGR of more than 6% during the forecast period (2022 - 2031).
The COVID-19 pandemic has had minimal impact on the light weapons market as the procurement programs of weapons by the armed forces remained on track.
The widening geopolitical rift in the Asia-Pacific and Middle-East and African regions has driven nations to increase their annual defense budget and expenditure to support the modernization of the arsenal of their armed forces. The characteristic advantage of light weapons to penetrate and disable heavily armored threats is expected to propel the growth of the market.
However, arms trafficking remains a major growth deterrence factor for the light weapons market as the increasing availability of light weapons in the black market leads to the development of organized crime, terrorism, human trafficking, and piracy, among others, which pose a security threat to a nation's integrity while presenting significant challenges for law enforcement agencies and governments on a global scale.
