Light Weapons Market: Information by Type (Heavy Machine Guns, Light Canons, Recoilless Weapons, MANPATS, MANPADS, & others) by Technology (Guided & Unguided) by Operation (Crew-Served & Individual), by End-User, and by Region — Global Forecast till 2023
Light Weapons Market Scenario:
Light weapons are man portable lethal weapons designed to expel or launch a projectile by the action of an explosive. These weapons can be used individually but are typically operated by a crew of three to four soldiers for effective results. Light weapons generally include heavy machine guns, launchers, rifles, mortars, among others. Grenades, land mines, and ammunitions used are also considered to be a part of the weapon system. There is a strong demand for these weapons from both defense and law enforcement agencies.
Factors such as rising terrorist attacks and focus on counter operations, changing nature of warfare, and increasing drug trafficking and other criminal activities are positively impacting the light weapons market growth. In addition, rise in defense expenditure especially in developing countries further boosts market growth. However, illegal trading of light weapons, and stringent licensing procedure & regulation policies in terms of import and export hinders market growth to a certain extent. Meanwhile, adoption of laser technology, lightweight materials, and smart & agile manufacturing concepts creates promising growth opportunities for the light weapons market.
Light Weapons Market Segments:
The global light weapons market has been segmented by type, technology, mode of operation, end-user and region. Based on type, the light weapons market is divided into heavy machine guns, light canons, grenade launchers, infantry mortars, recoilless weapons, man-portable anti-tank systems, man-portable air-defense systems, and other weapons. In 2017, the man-portable anti-tank systems segment accounted for the largest market share as it offers more lethal and effective defense against almost all land-based vehicles in the battlefield.
Based on technology, the light weapons market is divided into guided and unguided. In 2017, the guided weapons segment accounted for the largest market share owing to its long range and high success rate in terms of hitting the target. Based on mode of operation, the light weapons market is divided into crew-served and individual. In 2017, the crew-served segment accounted for the largest market share as most of these weapons require a crew of three to four soldiers to operate effectively. Based on end-user, the light weapons market is divided into defense and homeland security. In 2017, the defense segment accounted for the largest market share owing to the huge procurement of these weapons by military organizations globally to strengthen their armed forces.
The global light weapons market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is estimated to account for the largest share during the review period as it leads in global military expenditure and technological advancements. Although, Canada makes some investments in the development of light weapons, yet the market is primarily dependent on the U.S. This region has the presence of major market players such as General Dynamics, Lockheed Martin and Raytheon. The global light weapons market is estimated to register a CAGR of more than 4% during the forecast period of 2018 to 2023.
Light Weapons Market Key Players:
The key players in the global light weapons market are Arsenal JSCo (Bulgaria), General Dynamics Ordnance & Tactical Systems (US), Heckler & Koch GmbH (Germany), Indian Ordnance Factories Organization (India), Lockheed Martin Corporation (US), NAMMO AS (Norway), Rafael Advanced Defense Systems Ltd. (Israel), Raytheon Company (US), Saab AB (Sweden), and Thales SA (France).
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