Light Weapons Market will exhibit a CAGR of 4.67% during the forecast period, and reach USD 17.33 billion by 2027, and the Market value as per 2019 was USD 12.61 billion.

Fortune Business Insights™ in a new 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.”

Light Weapons Market Drivers and Restraint:

Wide Availability and Low Cost of Weapons to Propel the Growth of the Market

The weapons are majorly used by military, civilian, and police use. There are plenty of weapon suppliers around the world that manufacture weapons in a variety of configurations. With the increasing lethality of submachine guns, rapid-fire assault rifles drive the growth of the market. Furthermore, these weapons are easily portable and concealable, thus, easier for transportation to battlegrounds. It requires less training to operate these weapons as they are highly durable and low maintenance. Growing contracts for light weapons from military forces and homeland security for strengthening armed forces can propel the growth of the market.

Increasing Terrorist Activities and Civilian Conflicts Drive the Growth of the Market

Rising terrorist activities, cross border disputes, and political unrest between neighboring countries creates demand for light weapons. Growing military modernization programs and the expansion of defense forces drive the growth of the market. Furthermore, rising defense expenditure and increased spending on research and development will boost the key market. Technological advancements in weapons manufacturing such as laser systems in light cannons increased the range of anti-tank missiles; precision-guided firearms drive the market.

List of Key Players Covered in the Light Weapons Market Report:

• ARSENAL (Bulgaria)
• BAE Systems (The U.K)
• FN HERSTAL (Belgium)
• General Dynamics Corporation (The U.S.)
• Heckler & Koch 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)

 To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/light-weapons-market-103529

 Some of the key industry developments in the Light Weapons Market Include:

• January 2020 – Canadian military forces signed a contract of worth USD 96.97 million with Colt Canada of Kitchener to supply 3,626 new C6A1 FLEX general-purpose machine guns.

• July 2019 – BCF Solutions Inc., and Trijicon Inc. had signed a contract of worth USD 48.8 million with the U.S. Army to deliver modern mounted machine gun optic for machine gunners firing the M240 and M2/M2A1, as well as the MK 19 grenade launcher.