Global Firearms Market, Size, Trends & Analysis - Forecasts To 2026 By Type (Pistol, Revolver, Rifle, Machine Gun, Shotgun, Others), By Firing System (Gas-Operated, Recoil-Operated, Manually-Operated, Others), By Cutting Type (Smooth Bore, Threaded), By Caliber (5.56MM, 7.62MM, 9MM, 12.7MM, 14.5MM), By End User (Military, Law Enforcement, Hunting, Sports, Self-Defense), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Firearms Market Insights
The global Firearms market is estimated to witness a high CAGR during the forecast period (2019-2026). Increasing demand from civilian applications, such as sports and self-defense are some of the major factors expected to drive the growth of the firearms market during the forecast period. The rising incidences of terrorism and armed violence across the globe is also driving the market for firearms. Military forces and law enforcement agencies across the globe are also investing more into development of advanced weapon systems, is also driving the market growth for firearms. High prices of firearms along with stringent government rules are likely to hamper the market growth during the forecast period.
Firearms Market: By Type
On the basis of type, the global firearms market is segmented pistol, revolver, rifle, machine gun, and shotgun among others. The rifle segment is expected to hold the largest market share and is also expected to dominate the market during the forecast period. Rifles offer different properties such as high shooting accuracy, easy handling and is also widely used for precise shooting, aiming and firing at individual targets among others. Machine gun segment is expected to grow at a significant CAGR during the forecast period. Also, Growing adoption of advanced firearms is expected to propel the market for machine guns during the forecast period.
Firearms Market: By Firing System
On the basis of firing system, the market is segmented into gas-operated, recoil-operated, and manually-operated, among others. Gas operated segment is expected to hold a significant market share during the forecast period. Gas operated firing system technology is most commonly used firing mechanism or technology in pistols, rifles and other major types of small arms. They also offer several benefits including durability, precision, efficiency, and higher number of rounds fired among others. Re-coil segment is expected to grow at a significant CAGR during the forecast period. Recoil-operated mechanism is mainly used in low-powered rifles, which are used in civilian applications, such as hunting and short-range shooting sports among others. These are some of the major factors driving the market for re-coil segment
Firearms Market: By End Use
Based on end use, the firearms market is segmented into military, law enforcement, hunting, sports, and self-defense. The military and law enforcement segments are dominating the market and is projected to grow at a significant CAGR in terms of revenue during the forecast period. The growing number of wars against terrorist outfits, globally, especially in the Middle East and Asia-Pacific regions are expected to propel the market growth during the forecast period. The sports segment is expected to grow at the highest CAGR. The increasing civilian participation in shooting sports, such as target shooting, rifle shooting, and handgun shooting, among others is driving the market growth for sports segment.
Firearms Market: By Region
Asia Pacific is expected to witness a highest growth in the firearms market during the forecast period. The growth can be attributed to the increasing military expenditure of major economies of the region, including China, Japan, and India among others is driving the market growth in the region. Growing number of wars and cross-border disputes in the region, along with rising civilian participation in shooting sports is also driving the market growth in the region. Increasing investments by governments for modernization of military as well as law enforcement forces in the Asia Pacific region is driving the market.
Firearms Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are U.S. Sports Authority, Government Officials and police departments among others.
Firearms Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the Firearms market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Firearms Market Share & Competitor Analysis
Some of the key players operating in the Firearms market are Orbital ATK, Smith & Wesson Holding Corporation, Sturm, Ruger & Company Inc., Freedom Group, General Dynamics Corporation, Forjas Taurus SA, American Outdoor Brands Corporation, Bersa, Browning International S.A., Colt's Manufacturing Company, LLC, and FN Herstal among others.
In May 2019, FN Herstal launched its new firearms, integrated weapon systems with latest technology at the SITDEF Defense and Prevention of Disasters Exhibition
In April 2018, Orbital ATK expanded its facilities to develop Defense missile and to improve munitions technology needs
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The global Firearms Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Firearms Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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