Light Weapons Market Growth Analysis And COVID19 Impact

 

 

Market Overview:

Light Weapons Market growth Size Projected To Reach USD 20.01 Billion By 2030, Exhibiting A CAGR Of 6% 2020-2030.

The global Light Weapons Market growth has been segmented based on type, technology, mode of operation, end-user and region.

Based on type, the Light Weapons Market growth 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. The man-portable anti-tank systems segment is estimated to account for the largest market share while the grenade launchers segment is projected to witness the highest CAGR during the forecast period. The man-portable anti-tank system comprises rocket launchers, rocket-propelled grenades (RPGs), among others. It offers more lethal and effective defense against almost all land-based vehicles as well as aircraft and helicopters flying at a low altitude.

Key Players: The key players in the global Light Weapons Market growth 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).

Market Segmentation:

Based on technology, the Light Weapons Market growth is divided into guided and unguided. The guided segment is estimated to account for the largest market share while the unguided segment is projected to witness a higher CAGR during the forecast period. The unguided weapons are readily portable and can be easily operated by a single soldier. The unguided weapons include heavy machine guns, grenade launchers and others.

Based on mode of operation, the Light Weapons Market growth is divided into crew-served and individual. The crew-served segment is estimated to account for the largest market share while the individual segment is projected to witness a higher CAGR during the forecast period. The individually operated weapons are typically shoulder-fired or hand-held. Nowadays due to technological advancements, light-weight and durable materials are being used to manufacture these weapons which enable them to be operated by an individual.

Based on end-user, the Light Weapons Market growth is divided into defense and homeland security. The defense segment is estimated to account for the largest market share while the homeland security segment projected to witness a higher CAGR during the forecast period. The homeland security segment covers law enforcement agencies such as the police. Owing to various issues such as gang related violence, civil unrest, among others, the homeland security sector is widely procuring the light weapons nowadays.

Regional Analysis:

The market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increase in indigenous weapon production in the Asia Pacific region. China, and India are key markets for light weapons in this region.

Full report @ https://www.marketresearchfuture.com/reports/light-weapons-market-7082

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions

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