The global shoulder fired weapons market size was USD 6,224.6 million in 2019 and is projected to grow from USD 5,303.4 million in 2020 to USD 7,836.8 million in 2027 at a CAGR of 5.74% in the forecast period.
The global Shoulder-Fired Weapons market is witnessing dynamic growth, driven by evolving security challenges and the modernization of military arsenals worldwide. This market encompasses a diverse array of portable anti-aircraft and anti-tank weapons that are shoulder-mounted, offering maneuverability and flexibility on the battlefield.
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Key Players: Leading the charge in this competitive landscape are key players 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: The Shoulder-Fired Weapons market is segmented based on the type of weapons and their applications. Common segments include Man-Portable Air-Defense Systems (MANPADS) for anti-aircraft purposes and Anti-Tank Guided Missiles (ATGM) for armored vehicle targets. The market also includes disposable and reloadable systems, each tailored to specific operational requirements.
Driving Factors: Several factors are propelling the growth of the Shoulder-Fired Weapons market:
Military Modernization: Increasing global military modernization initiatives drive the demand for advanced and versatile shoulder-fired weapons.
Counter-Terrorism Operations: The rising threat of terrorism necessitates portable and efficient weapons for quick response and adaptability in diverse operational environments.
Geopolitical Tensions: Heightened geopolitical tensions worldwide contribute to the demand for effective shoulder-fired weapons as nations bolster their defense capabilities.
Regional Analysis: The market's growth is distributed globally, with North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa playing pivotal roles. North America and Europe dominate due to high defense budgets and technological advancements. The Asia-Pacific region is emerging as a significant market player, driven by increased defense spending and the modernization of military forces.
Industry Trends: Recent trends in the Shoulder-Fired Weapons market include:
Technological Advancements: Integration of advanced technologies, such as infrared guidance and precision targeting systems, enhances the accuracy and efficiency of shoulder-fired weapons.
Lightweight and Portable Designs: Manufacturers are focusing on developing lightweight and portable systems to ensure ease of use and mobility for military personnel in various operational scenarios.
Collaborations and Partnerships: Strategic collaborations and partnerships among key players and governments are becoming increasingly common, fostering innovation and the development of cutting-edge shoulder-fired weapon systems.
As the geopolitical landscape evolves and defense strategies adapt, the Shoulder-Fired Weapons market is expected to witness sustained growth, with key players shaping the future of portable weaponry through innovation and strategic partnerships.