Shoulder Fired Weapons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Shoulder Fired Weapons Industry Report is Segmented by Technology (Guided and Unguided), Range (Short, Medium, and Long), Assembly Type (Projectile and Launcher), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market size and forecasts for all the above segments are provided in terms of value (USD billion).

Shoulder Fired Weapons Market Size

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Shoulder-fired Weapons Market Size
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR > 6.00 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Shoulder-fired Weapons Market

*Disclaimer: Major Players sorted in no particular order

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Shoulder Fired Weapons Market Analysis

The Shoulder-Fired weapons market is expected to exhibit a CAGR of over 6% during the forecast period (2022-2027).

The market witnessed a negligible impact due to the COVID-19 pandemic, as the military budget spending of the global military powerhouses continued to witness growth even during the pandemic. However, the market witnessed a very minute downfall at the beginning of the pandemic in 2020 due to the disruption in the supply chain and unavailability of raw materials, along with the halt of production units. However, from 2021, the increased internal and international military conflicts among major countries in the world have driven the demand for shoulder-fired weapons.

Also, the huge military expenditure by various countries has been driving the market towards new procurements or upgrading the existing technologies in order to have the upper hand in terms of military strength. The increase in the global demand for armor-piercing weapons is propelling the market for man-portable anti-tank weapon systems.

Shoulder Fired Weapons Market Trends

This section covers the major market trends shaping the Shoulder Fired Weapons Market according to our research experts:

Rise in the Demand for MANPATS and MANPADS

The use of man-portable anti-tank systems (MANPADS) and man-portable air defense systems (MANPADS) gives a huge advantage to troops by engaging targets without worrying about the accuracy of the strike and weight of the weapon. With the increasing use of sophisticated armored machinery in conflicts, many countries are increasing the use of MANPADS and MANPADS. Modern MANPADS are equipped with ultraviolet sensors for radiation detection, infrared sensors for heat detection, and smart control units. The most common MANPADS are infrared seekers that acquire their targets by detecting the heat of an aircraft's engine. New age MANPADS include Strela and Igla weapons, along with Stinger shoulder weapons from the United States. The existing military conflict between Russia and Ukraine has driven some significant developments in terms of the supply and procurement of shoulder-fired weapons. For instance, in May 2022, the United States government has planned to supply thousands of Stinger and Javelin shoulder-fired weapons to Ukraine. The country has also placed orders for Javelin anti-tank weapons in May 2022. These weapons are manufactured in partnership between Raytheon Missiles & Defense and Lockheed Martin. With the increasing incidents of drone strikes and air space intrusions, forces around the world are seeking advanced MANPADS for air defense. However, recent incidents of usage of surface-to-air missiles against civil aviation aircraft and the major military forces supplying MANPADS and MANPADS to rebels and insurgents have brought into force counter MANPAD programs and stringent export control norms and regulations, which may hinder the market growth.

Shoulder-fired Weapons Market Share

Asia-Pacific to Record the Highest Growth Rate During the Forecast Period

Asia-Pacific has some of the largest importers of arms, such as India, China, Pakistan, and South Korea. China and India's defense budgets have been on an increasing trend. It is estimated that China has spent approximately USD 293 Billion in military expenditure as of 2021, with India spending an estimated total of USD 76.6 billion during the same time. China is a major developer of shoulder-fired weapons, and it is investing in the development of smart sensor-based weapons that can differentiate between foe, friend, and neutral targets, to reduce the accidental shooting of civilian aircraft and vehicles. The country is investing significantly in developing shoulder-fired weapons. In February 2022, China tested its QW-12 advanced MANPADS for intercepting helicopters, jet aircraft, and cruise missiles in a live-fire test. The MANPAD successfully hit a specifically designed target aircraft in the test. India, with its proximity and military conflict with China, has also been investing in improving its portable weapons inventory. As part of this drive, in April 2022, the country inducted new MANPADS into the army. A small number of the new Russian-built Igla-S system MANPADS were tested, and a much larger order for these systems is anticipated over the coming time period. The order included 24 launchers, 216 missiles, and testing equipment. The country is also investing significantly in improving the existing anti-tank and anti-missile capabilities. For instance, in January 2022, the Indian Army and Indian Airforce partnered with Saab AB to receive an AT4 single-shot shoulder-fired weapon through a competitive program. Also, back in July 2020, the Indian army announced the procurement of the Spike-LR (Long Range) Anit-Tank Guided Missiles from Israel as part of emergency procurement. The deliveries of these systems, along with the increasing orders of such systems by other countries in the region, are expected to drive the market growth in the region.

Shoulder-fired Weapons Market Growth

Shoulder Fired Weapons Industry Overview

The market for shoulder-fired weapons is fragmented, with prominent players, such as Raytheon Technologies Corporation, Saab AB, General Dynamics Corporation, Lockheed Martin Corporation, and MBDA, dominating the market. Companies are partnering with local players to expand their market presence by securing new contracts with the respective countries. Major players in the market are forming joint ventures to develop, manufacture and supply shoulder-fired weapons to the end-users. For instance, one of the world's best shoulder-fired weapon systems, the Javelin man-portable anti-tank weapon, is manufactured by the Raytheon/ Lockheed Martin Javelin joint venture. In May 2022, the joint venture between Lockheed Martin Corp and Raytheon Technologies Corp was awarded two contracts worth USD 309 million by the U.S. army for the Javelin missiles. On the other hand, companies are also working together to accommodate soldiers' needs, reducing weight and improving ergonomics. Such efforts are expected to help the growth of the players in the long run.

Shoulder Fired Weapons Market Leaders

  1. Saab AB

  2. Raytheon Technologies Corporation

  3. Lockheed Martin Corporation

  4. General Dynamics Corporation

  5. MBDA

*Disclaimer: Major Players sorted in no particular order

Raytheon Technologies Corporation, Saab AB, General Dynamics Corporation, Rafael Advanced Defense Systems Ltd, and ROKETSAN
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Shoulder Fired Weapons Market News

In April 2022, the United States Army also released a Request for Information (RFI) to the industry as part of its ongoing efforts to replace its stockpiles of FIM-92 Stinger Man-Portable Air Defense Systems (MANPADS) with new similar functioning missiles.

In May 2022, Lockheed Martin announced that it aims to nearly double the Javelin anti-tank shoulder-fired weapon production missiles from 2,100 per year to 4,000 a year. In the same time frame, the United States army also announced the purchase of 1,300 stinger MANPADS from the Raytheon-Lockheed Joint Venture.

Shoulder Fired Weapons Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Guided

      2. 5.1.2 Unguided

    2. 5.2 Range

      1. 5.2.1 Short

      2. 5.2.2 Medium

      3. 5.2.3 Long

    3. 5.3 Assembly Type

      1. 5.3.1 Projectile

      2. 5.3.2 Launcher

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 Russia

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Rest of Latin America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Saab AB

      2. 6.2.2 Lockheed Martin Corporation

      3. 6.2.3 BAE Systems plc

      4. 6.2.4 Raytheon Technologies Corporatiom

      5. 6.2.5 General Dynamics Corporation

      6. 6.2.6 MBDA

      7. 6.2.7 Rafael Advanced Defense Systems Ltd

      8. 6.2.8 Rheinmetall AG

      9. 6.2.9 ROKETSAN

      10. 6.2.10 Bharat Dynamics Limited

      11. 6.2.11 AirTronic USA LLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Shoulder Fired Weapons Industry Segmentation

The Shoulder-Fired Weapons are rocket-propelled explosive projectiles, small enough to be carried and fired while being held on one's shoulder. The increasing close territory combats across different borders are driving the demand for shoulder-fired weapons. The market is segmented by Technology into Guided and Unguided weapons. The market is also segmented by Missile Range into Short, Medium, and Long Range, and Assembly Type into Projectile and Launcher. The market report offers the market size and forecasts for major countries across different regions. For each segment, the market sizing and forecasts have been provided in value (USD billion).

Technology
Guided
Unguided
Range
Short
Medium
Long
Assembly Type
Projectile
Launcher
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of Middle-East and Africa
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Shoulder Fired Weapons Market Research FAQs

The Shoulder-fired Weapons Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Saab AB, Raytheon Technologies Corporation, Lockheed Martin Corporation, General Dynamics Corporation and MBDA are the major companies operating in the Shoulder-fired Weapons Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Shoulder-fired Weapons Market.

The report covers the Shoulder-fired Weapons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shoulder-fired Weapons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shoulder Fired Weapons Industry Report

Statistics for the 2024 Shoulder Fired Weapons market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Shoulder Fired Weapons analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shoulder Fired Weapons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)