Light Weapons Market size is expected to reach USD 17.33 billion by 2027, exhibiting a CAGR of 4.67% during the forecast period. The increasing R&D investments by major companies for the design and development of innovative light weapons is expected to bolster healthy growth of the market, states Fortune Business Insights in a report, titled “Light Weapons Market Size, Share & COVID-19 Impact Analysis, By Type (Heavy machine guns, MANPAT, Infantry Mortar, Anti-Tank Weapons, Recoilless Rifles, Launchers, Light Cannon, Anti-Tank Missiles, MANPADS, Grenade, Landmines), Guidance (Guided, Unguided), Application (Defense, Homeland Security), and Regional Forecast, 2020-2027.” The market size stood at USD 12.61 billion in 2019.
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The report on the light weapons market reveals:
- Superior analysis of the market
- Notable and vital industry development
- COVID-19 effect on the industry
- Prominent insights into the competitive landscape
Surging Terrorist Activities to Brighten Business Possibilities
The growing terrorist activities and border disputes will spur demand for the light weapons market in the foreseeable future. The rising conflicts among neighboring countries are expected to provide tremendous opportunities for the market. For instance, the ongoing disputes between China and India. The increasing military modernization programs will have an excellent effect on the market.
The surge in the military budget is expected to influence the healthy growth of the market during the forecast period. The enormous R&D investment for lighter and efficient vehicles during combat will enhance the potential of the market in the foreseeable future. The perpetual advancements in weapons such as elevated range of anti-tank missiles, precision-guided firearms, and laser enabled light cannons will spur golden opportunities for the market in the near future.
List of the Leading Companies Profiled in the Global Light Weapons Market are:
- ARSENAL (Bulgaria)
- BAE Systems (The U.K)
- FN HERSTAL (Belgium)
- General Dynamics Corporation (The U.S.)
- GmbH (Germany)
- Lockheed Martin Corporation (The U.S.)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- Thales Group (France)