Market Size of Small Arms Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.43 Billion |
| Market Size (2029) | USD 11.21 Billion |
| CAGR (2024 - 2029) | 3.52 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Small Arms Market Analysis
The Small Arms Market size is estimated at USD 9.43 billion in 2024, and is expected to reach USD 11.21 billion by 2029, growing at a CAGR of 3.52% during the forecast period (2024-2029).
The growth in global defense spending and initiation of infantry equipment upgrade programs is facilitating the procurement of sophisticated and deadlier military rifles. Also, several countries are focusing on the indigenous development of newer generation small arms that are lightweight and accurate. The growth in technological advancements is fostering such developments.
On the other hand, several countries hold strict laws when it comes to acquiring a gun as an individual. In recent years, there is an increase in suicides and gun violence, which resulted in increased gun control measures. This factor is challenging the growth of the small arms market in the civilian sector.
