Market Trends of Southeast Asia, Middle-East And Africa Small Arms And Ammunition Industry
Military Segment to Hold the Highest Market Share
The military segment currently dominates the market and is expected to continue its dominance during the forecast period. With increased military engagements globally, armed forces are upgrading to more powerful small arms to deal with combat requirements. With the military's armor becoming tougher to penetrate, armies are focusing on firearms that cause cyclical impacts, causing more damage to enemies. Several nations are now focusing on procuring various latest-generation small arms for their militaries.
Since the Myanmar army seized power in February 2021, the country increased its small arms production, igniting a mass public opposition movement. After security forces used lethal force against peaceful demonstrators, opponents of military rule took up arms. Driven by internal and external threats to their security, the militaries of Southeast Asia have been modernizing and upgrading their small arms arsenal in various ways.
For instance, the SAR-21 used by the Singapore Army has laser sight and target acquisition capabilities. The rifle is a replacement for the earlier M16S1 based on American design and offers many improvements. A range of small arms arsenal based on SAR-21 has been developed, including a SAR-21 light machine gun, SAR-21 lightweight carbine, SAR-21 Sharpshooter, and even a round-the-corner firing (RCF) module developed for urban operations. Such developments will likely drive the growth of the military segment in the market studied.
Saudi Arabia Anticipated to Show Significant Growth During the Forecast Period
Saudi Arabia is projected to show significant growth in the market during the forecast period. The Saudi government is investing heavily in enhancing its defense capabilities and increasing the adoption of the next generation of weapons and munitions to drive market growth across the country. In 2022, Saudi Arabia was the fifth largest defense spender in the world, with a defense budget of USD 75.0 billion.
The present geopolitical scenario in the nation demands that ammunition purchases be on the government's priority list and is expected to continue during the forecast period. Unstable neighbor countries of Saudi Arabia (Iraq to the north, Iran across the Persian Gulf, and Yemen to the south) pose significant threats. The total military personnel of the country is more than 0.5 million, including the paramilitary forces. FN F2000 (5.5645mm), Bushmaster M4-Type (5.5645mm), FN Five-seven (5.728mm), and ORSIS T-5000 (7.6251mm NATO) are the prominent firearms used by the armed personnel of the country.
Currently, only 2% of the country's military spending is provided to local defense companies. It is heavily dependent on the imports of defense equipment and is the world's largest importer of arms and ammunition. To strengthen its local manufacturing, under Vision 2030, the government plans to increase the local military equipment spending to 50% by 2030. As a part of Vision 2030, the government launched the state-run arms manufacturing company Saudi Arabian Military Industries (SAMI), which manufactures small-caliber ammunition, medium-caliber ammunition, artillery ammunition, and tank ammunition for the armed forces of Saudi Arabia and other countries in the Middle East and North Africa.
Southeast Asia, Middle-East And Africa Small Arms And Ammunition Market Report Snapshots
- Southeast Asia, Middle-East And Africa Small Arms And Ammunition Market Size
- Southeast Asia, Middle-East And Africa Small Arms And Ammunition Market Share
- Southeast Asia, Middle-East And Africa Small Arms And Ammunition Market Trends
- Southeast Asia, Middle-East And Africa Small Arms And Ammunition Companies
