AdvanceMarketAnalytics, a global market research and consulting organization, have released a new study titled "Light Weapons market - Global outlook to 2024". Industries constant focus on reducing the operational cost and increased attention on core business, and need to improve scalability are expected to shape the Global Light Weapons market to grow at a CAGR of 5.1%.
The Technology, such as Guided Weapons Technology, is boosting the Light Weapons market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
According to AMA research team, the Global Light Weapons market will experience significant growth during the forecast period due to potential opportunities lying in the market such as . Some of the important driving forces are Changing Nature of Warfare around the Globe, Low Cost of Weapons and Growing Drug Trafficking. †
Light weapons, the weapons that are designed for use by two or three persons serving as a crew, while some may be carried & used by a single person. Light weapons include light cannons, common purpose or universal machine guns, heavy machine guns, medium machine guns, under-barrel grenade launchers, grenades, mounted grenade launchers, portable anti-tank guns, portable anti-aircraft guns, MANPADS (Man-Portable Air-Defense Systems), MANPATS (Man-Portable Anti-Tank Systems), and mortars of a calibre of less than 100 millimetres. These also include explosives, ammunition, hand grenades, land mines & any other man portable weapons. Usage of light weapons in armed forces has been increased over the years with developments in technology. The growing land disputes across the borders, growing conflicts, as well as terrorism activities and increasing defense spending are the driving factors for the global light weapons market growth.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Light Weapons market by Type (MANPADS (Man-Portable Air-Defense Systems), Heavy Machine Guns [12.77 Mm and 14.50-20 Mm], Light Cannons [Small, Medium, and Large], MANPATS (Man-Portable Anti-Tank Systems), Launchers [Grenade Launchers, Anti-Tank Launcher, Anti-Aircraft Launcher, and Rocket Systems], Infantry Mortars [Light, Medium, and Heavy], Grenades [Chemical & Gas, Concussion, Anti-Tank, Anti-Personnel Fragmentation, and Stun Grenade], Anti-Aircraft/Anti-Submarine Missiles, Landmines and Light Anti-Tank Weapons), by Application (Defense and Homeland Security) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key trends (current and future) of the market