Automatic Weapons Market Size to Hit USD 18.69 Billion by 2031, Coherent MI
Burlingame, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Automatic Weapons Market Size to Hit USD 18.69 Billion by 2031, Coherent MI
According to Coherent MI, the global Automatic Weapons Market size is estimated to be valued at USD 9.69 billion in 2024 and is expected to surpass USD 18.69 billion by 2031, growing at a CAGR of 7.21% from 2024 to 2031.
The growth of the Automatic Weapons Market is attributed to the rising demand for automatic weapons from defense forces across the globe. Modern armies are focusing on equipping their forces with technologically advanced weapons with high accuracy and firing capacity. This is boosting the demand for automatic weapons such as machine guns, assault rifles, light machine guns (LMGs), and automatic launchers. Moreover, increasing military spending by major economies such as the U.S., China, India, and Russia is promoting the development of new and advanced automatic weapons, thus fueling market growth.
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Market Trends:
Adoption of 3D printing technology: Leading automatic weapons manufacturers are adopting 3D printing technology for developing lightweight weapons with complex design geometry that cannot be produced through conventional methods. For instance, in 2021, Defense Distributed, a Texas-based company, developed the first fully 3D printed automatic weapon called the FGC-9.
Integration of robotics: There is a growing trend of integrating robotic technologies in automatic weapons to develop smart and autonomous weaponry. Weapon developers are focusing on designing intelligent automatic weapons capable of identifying threats, firing automatically with high precision, and communicating target details to human operators.
Automatic Weapons Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $9.69 billion |
| Estimated Value by 2031 | $18.69 billion |
| Growth Rate | Poised to grow at a CAGR of 7.21% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, By Type, By Caliber, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Global Military Modernization Programs Focusing on Advanced Weaponry. • Increasing Cross-Border Conflicts Fueling the Demand for Automatic Weapons. |
| Restraints & Challenges | • Stringent Government Regulations Restricting the Sale and Use of Automatic Weapons. |
The automatic rifle segment is expected to hold a dominant position in the product segment, accounting for over 30% of the global automatic weapons market share. Automatic rifles offer selective fire capabilities and are lightweight compared to machine guns, making them highly popular among armed forces globally.
The fully automatic type weapons segment currently dominates the automatic weapons market owing to their widespread usage by defense forces worldwide. Fully automatic weapons allow continuous fire as long as the trigger is pressed and ammunition is available, offering effective suppressive fire capabilities.
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Key Market Takeaways
The global automatic weapons market is anticipated to witness a CAGR of 7.21% during the forecast period 2024-2031, driven by increasing defense spending of major economies and rising geopolitical tensions.
On the basis of product, the automatic rifle segment is expected to hold a dominant position, accounting for over 30% of the market share due to their selective fire capabilities and lightweight compared to machine guns.
In terms of type, the fully automatic segment currently dominates the market owing to their widespread usage by defense forces worldwide for providing effective suppressive fire.
Based on caliber, the small caliber automatic weapons segment holds the largest share as they are light, compact, and portable, providing higher mobility to armed forces.
Regionally, North America holds the largest share in the automatic weapons market currently and is expected to remain dominant during the forecast period due to heavy investments in defense research and new weapon procurements in the US.
Some of the major players operating in the global automatic weapons market include Lockheed Martin Corporation, Northrop Grumman Corporation, FN Herstal, Heckler & Koch, Kalashnikov Concern, Barrett Firearms Manufacturing, Beretta, Colt’s Manufacturing Company, SIG Sauer, Browning Arms Company, Smith & Wesson and Israel Weapon Industries. Increasing geopolitical tensions are expected to further drive new contracts for these players.
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Automatic Weapons Market Segmentation
By Product
- Automatic Rifle
- Machine Gun
- Automatic Launchers
- Automatic Canon
- Gatling Gun
By Type
- Fully Automatic
- Semi Automatic
By Caliber
- Small
- Medium
- Large
By End-user
- Land
- Maritime
- Airborne
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
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About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
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