The shoulder fired weapons market had a size of USD 6,224.6 million in 2019. It is expected to increase from USD 5,303.4 million in 2020 to USD 7,836.8 million by 2027, with a compound annual growth rate (CAGR) of 5.74% during the forecast period.
In an era marked by evolving geopolitical landscapes and heightened security concerns, the shoulder-fired weapons market is experiencing a surge in demand. A recent in-depth analysis by industry experts sheds light on the key players, market segmentation, driving factors, regional dynamics, and emerging trends in this fast-paced sector.
Information Source:
https://www.fortunebusinessinsights.com/shoulder-fixed-weapons-market-105026
Key Players: Shoulder Fired Weapons Market
Leading the charge in innovation and market dominance, key players in the shoulder-fired weapons landscape include industry stalwarts such as:
Northrop Grumman Corporation (US)
Konstruktorskoye Byuro Mashynostroyeniya (Russia)
Lockheed Martin Corporation (US)
Thales Group (France)
Saab AB (Sweden)
KBP Instrument Design Bureau (Russia)
Raytheon Company (US)
Rafael Advanced Defense System (Israel)
MBDA
BAE Systems (UK)
JSC SPA Bazalt (Russia)
Segmentation: Shoulder Fired Weapons Market
The market is segmented based on several factors, providing a nuanced understanding of its dynamics:
Type: Shoulder-fired weapons are categorized by type, including anti-tank missiles, man-portable air-defense systems (MANPADS), and recoilless rifles, catering to diverse military needs.
Range: Segmentation based on range focuses on short-range and medium-range shoulder-fired weapons, each tailored for specific operational requirements.
End-User: The end-user segmentation highlights the adoption of these weapons by military and law enforcement agencies, reflecting the broad scope of their applications.
Driving Factors: Shoulder Fired Weapons Market
Several driving factors underscore the robust growth of the shoulder-fired weapons market:
Global Security Concerns: Escalating global security threats and regional conflicts drive the demand for portable and effective defense solutions, propelling the market forward.
Technological Advancements: Ongoing advancements in technology, such as smart munitions and enhanced targeting systems, fuel the development of next-generation shoulder-fired weapons.
Military Modernization Initiatives: Increased defense budgets worldwide and a focus on military modernization contribute significantly to the market's expansion.
Regional Analysis: Shoulder Fired Weapons Market
North America: The region remains a major contributor to market growth, with key players headquartered in the United States and ongoing military modernization efforts.
Europe: Growing security concerns and geopolitical tensions drive the demand for shoulder-fired weapons in European countries, emphasizing the need for advanced defense solutions.
Asia-Pacific: The Asia-Pacific region exhibits the highest growth rate, propelled by rising defense expenditures, regional conflicts, and the need for technologically advanced weaponry.
Industry Trends: Shoulder Fired Weapons Market
Smart Weapon Integration: The integration of smart technologies, including advanced guidance systems and connectivity features, represents a prominent trend, enhancing the accuracy and effectiveness of shoulder-fired weapons.
Focus on Lightweight Solutions: The industry is witnessing a trend towards the development of lightweight and portable shoulder-fired weapons, catering to the increasing demand for mobility and versatility on the battlefield.
Collaborations and Partnerships: Strategic collaborations between key players and partnerships with government entities are emerging as a trend, fostering innovation and addressing evolving security challenges.
In conclusion, the shoulder-fired weapons market stands at the forefront of technological innovation and global security responses. Key players, driven by advancements and strategic initiatives, are shaping the future of this dynamic industry, ensuring its relevance in an ever-changing geopolitical landscape.