Market Size of Shoulder-fired Weapons Industry
| 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
*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.
