Market Size of Man Portable Anti-Armor Weapons Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 6.05 Billion |
| Market Size (2029) | USD 7.81 Billion |
| CAGR (2024 - 2029) | 5.22 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Man-portable Anti-armor Weapons Market Analysis
The Man Portable Anti-Armor Weapons Market size is estimated at USD 6.05 billion in 2024, and is expected to reach USD 7.81 billion by 2029, growing at a CAGR of 5.22% during the forecast period (2024-2029).
The roles of independent fighting groups are continuously evolving in modern battlefields. Data from recent combat operations reflect the high frequency of engagements with hostile weapon emplacements in various man-made and natural shelters that cannot be dominated solely using small arms or inferior firepower.
Man-portable anti-armor weapons are designed to confront these challenges while banking on their sophisticated features, such as extreme agility to react quickly to rapid changes in battlefield scenarios and adaptability to operate through diverse environments while ensuring total safety from various threats.
The market is expected to grow primarily due to the armed forces' procurement and upgrade activities to counter emerging threats. The growth is subjective to several associative factors, such as the allocation of funds for the procurement of new equipment.
However, it may be adversely affected due to the rapid technological advances resulting in the effective life of a newly developed technology. The limited range of man-portable anti-armor weapons, the challenges associated with the transfer of technology, and stringent regulatory frameworks and compliance requirements can pose challenges for manufacturers and limit the widespread deployment of these advanced weapons.
Technological advancements, such as precision-guided systems and enhanced targeting capabilities, contribute to the effectiveness of these weapons, making them crucial for military forces seeking to maintain a strategic edge. Moreover, the need for lightweight, easily deployable anti-armor solutions further propels the market forward, as military units prioritize mobility without compromising firepower.
