Small Arms Market Business Overview and Global Development Trends
Posted: Sep 18, 2020
Increasing political tensions around the world has led to the adoption of various new technologies by countries with an aim of strengthening national security. To defend the nation from external threats, countries over the years, have strengthened their army’s capabilities. Moreover, the increasing land disputes across the borders have compelled the nations to strengthen their armed forces by importing and developing weapons. Moreover, increase in crime rate has given rise to increase in small arms procurement in civilians for self-defense. Since the 13th century, firearms have undergone a massive transformation with respect to design and operation.
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Arms are one of the most important requirements for defense forces, including the Army, Navy, and the Air Force. Firearms include handguns (pistols and revolvers) and long guns such as rifles, shotguns, assault rifles, submachine guns, carbines, personal defense weapons, and light machine guns, and all these products are based on different technologies and made out of various raw materials. A wide range of firearms has been adopted by the defense forces of various nations such as the U.S., Russia, the U.K., India, and China, among others in order to protect their countries in situations such as wars, conflicts, and terrorist activities.
The rising interests of people in activities such as hunting and shooting is evident from the trends such as trophy hunting or target shooting becoming increasingly popular in major countries such as North America and Europe. The increase in the demand for handguns in civilian and law enforcement agencies for self-defense owing to the increasing crime rates, terrorism, political and social turmoil conditions in Asia-Pacific, Middle East, and Eastern Europe has led to increase in the small arms market. Moreover, the regions are increasing their defense expenditure to be more stable and competitive on the global level. The increasing defense budget of the countries is in turn driving the global small arms market.
The U.S. is the largest market for small arms across the globe. The changes in import policies and the strengthening of the U.S. dollar have imposed a lot of challenges and difficulties for companies that export weapons into the U.S. and other countries having restricted import and export policies. Additionally, the procurement of defense related weapons is done to strengthen their economy and competitive strength. However, difficult procurement procedures of the government affect the growth of the global small arms market.
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The key players that are actively participating in small arms market include American Outdoor Brand Corporation, Beretta Arms Company, Colt’s Manufacturing Company LLC, Browning International S.A., Sig Sauer, Inc. Inc., Sturm, Ruger & Company, Remington Outdoor Company, Singapore Engineering Technologies, FN Herstal, GLOCK Inc., Heckler and Koch AG, Israel Weapon Industries (IWI) LTD, Kalashnikov Concern, O.F. Mossberg & Sons, Inc., and Taurus Holdings, among others.
The prominent players in the small arms market adopted strategies such as product launch, contracts, mergers and acquisitions to expand their business. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion, among others. The small arms industry is highly competitive and requires manufacturers to constantly innovate and develop cost-effective products. The existing companies as well as new entrants, which will develop next-generation solutions to cater the need for future applications could benefit from this market.
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