The small arms market size is projected to grow from USD 8.6 billion in 2020 to USD 9.6 billion by 2025, at a CAGR of 2.1% from 2020 to 2025. Factors such as the changing nature of warfare, the militarization of police forces, the increasing incidence of drug trafficking and terrorist activities, and the modernization of armed forces are driving factors assisting the growth of the small arms market. To know about the assumptions considered for the study, Request for Free Sample Report COVID-19 Impact on the Small Arms Market The COVID-19 pandemic has caused a large-scale impact on economies across the world as the manufacturing of small arms, components, and assembly lines have been impacted. Although the manufacturing of small arms for military applications is of prime importance, disruptions in the supply chain have set back their manufacturing for the time being. Resuming the manufacturing and demand for small arms depends on the level of COVID-19 exposure a country is facing, the level at which manufacturing operations are running, and import-export regulations, among other factors. Although companies may still be taking in orders, delivery schedules might not be fixed. According to industry experts, defense departments are focusing more on sectors that are of high importance to national security. Countries in North America, Europe, and Asia Pacific have maintained the current growth in defense spending during this time, contrary to countries in other regions. According to an industry expert, the demand for small arms is not expected to be affected to a great extent since small arms are a key component of frontline infantry. On the other hand, the demand for small arms in civil and commercial applications has been affected to some extent in some countries. This is mainly due to precautionary measures undertaken by many countries to stop the spread of COVID-19 by shutting down public/private places such as hunting grounds and sporting & shooting areas, which has resulted in a drop in the demand for small arms. However, during the COVID-19 crises, increased demand for small arms has been observed for self-defense applications to a greater extent, especially in the US during March and April 2020. Many of the top manufacturers in this market offer products for military and law enforcement applications; hence, they have seen a continuous supply despite COVID-19. Initially, the supply chain was affected to some extent due to lockdown rules undertaken by many countries to stop the spread of the virus. Uncertainties in the supply of firearms were observed during COVID-19 in the different regions. Several distributors and suppliers did not have the small arms to a sufficient extent to meet the ongoing demand. However, many players have launched new products in the small arms market during this period. Small Arms Market Dynamics Driver: Change in nature of warfare The nature of warfare has evolved from conventional warfare to modern warfare. The sizes of armies across regions have changed over the years, and the weapons used have also been modernized. There is a need for more efficient systems weaponized robots, weaponized vehicles, armored vehicles, and unmanned ground vehicles on the battlefield for improved performance. These platforms use machine guns that can fire 5.56mm rounds at a cyclic fire rate of 750 rounds per minute. These platforms can also be fitted with M240 guns that can fire 7.62mm rounds at a cyclic fire rate of 1,000 rounds per minute. For instance, the 6.8mm ammunition manufactured by True Velocity, a leading arms and ammunition manufacturer based in the US, is being developed to replace conventional 5.56mm NATO rounds in some special operation units. The new caliber is designed to be slightly heavier and has more velocity than 5.56mm NATO rounds, which will enable troops to fire from a greater distance and with more accuracy. The US military is also looking for an advanced firearm for firing 6.8mm ammunition. The vendors selected by the US for advanced firearm manufacturing are Textron Systems, General Dynamics Corporation, and SIG SAUER, while FN-America and PCP Tactical have been rejected. India, another major spender on defense, is in the process of upgrading 5.56mm firearms with the more lethal 7.62mm firearms and ammunition. These factors are driving the demand for small-caliber ammunition. Colt’s Manufacturing Company, LLC, has launched a new Colt Trooper Patrol Carbine based on the leading LE6920 model. The Trooper Patrol Carbine is offered in 5.56 x 45 NATO and features a 16.1” barrel and a 13” M-LOK capable Centurion Arms forend with a Picatinny rail at 12 o’clock and M-LOK mounting slots at 3, 6, and 9 o’clock. It features a standard M4 buttstock and an A2 pistol grip and comes with a 30-round Magpul P-MAG Magazine. Full Report @ https://www.marketsandmarkets.com/Market-Reports/small-arms-market-138024472.html
EditExport
Kommentare