The ****** Small Arms Light Weapons (SALW) Market is expected to value at USD 25.76 billion by 2024. The market is subject to witness a substantial growth due to the growing concerns related to human rights, safety, and security. Increase in the number of intense crimes and increasing demand from defense &military sector are expected to drive the market growth of small arms light weapons. Globally, the small arms light weapons industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
However, several environmental and government protocols, reduction in defense expenses by developed countries due to numerous peace initiatives and challenges from many human rights protestors are key factors obstructing the market progress. Factors responsible for sustained market growth for small arms light weapons market include prevalence of domestic violence, organized crimes, and drugs trafficking.
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The small arms light weapons (SALW) industry is classifies into two types based on product type such as small arms and light weapons. The small arms market is further sub-categorized into pistols, rifles, revolvers, shotguns, and man-portable machine guns. Small arms are particularly manufactured for the individual use, while light weapons are designed such that more than one person can operate these weapons. Some of the light weapons include landmines, mortars, grenades launchers, rocket launchers, rocket-propelled grenades, anti-tank weapons, and anti-aircrafts. Other factors such as increasing investment for research and development for advanced small & light weaponry sector, and rising defense expenses of developing countries, are advancing the market progress
SALW Type Outlook (Revenue, USD Million; 2014 – 2024)
- Small Arms
- Light Weight
SALW Application Outlook (Revenue, USD Million; 2014 – 2024)
- Law Enforcement
The key players in the SALW industry are GLOCK GmbH., FN Herstel S.A., Berette S.p.A., Colt’s Manufacturing Company LLC, Lockheed Martin Co., Raytheon, Inc., General Dynamics Co., Smith & Wesson Holding Co., SIG Sauer & Co., and Carl Walther GmbH.
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The small arms light weapons (SALW) industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in defense sector, increase in the number of research & development activities in the region and existence of well-established manufacturing infrastructure.
Asia-Pacific region is predicted to hold major market share in the small arms light weapons (SALW) market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing terrorist activities in the region, rising defense expenditure, growing concerns related to human rights, safety and security, and significant investment by leading industry players considering potential growth opportunities in the region.
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