Shoulder Fired Weapons Market Forecast: Revenue, Size, and Gross Margin (2024-2032)

0
711

Shoulder-Fired Weapons Market Overview

The Shoulder-Fired Weapons Market achieved a valuation of USD 5.9 billion in 2022 and is poised for substantial growth, projected to increase from USD 6.2 billion in 2023 to USD 8.06 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.9% during the forecast period (2023 - 2030). This growth trajectory is fueled by several market drivers, including escalating defense expenditure, a growing demand for portable anti-tank weapons, and an increasing need for lightweight guided weapons.

The Shoulder-Fired Weapons Market is witnessing significant growth, driven by escalating defense expenditure and a rising need for portable anti-tank weapons and lightweight guided weapons. These factors, among others, are propelling market expansion, driving revenue generation within the industry.

Market Trends

Growing M&A Activities: The market in North America is experiencing a surge in mergers and acquisitions (M&A) activity, with several small and medium-sized vendors witnessing consolidation. M&A activities enable companies to enhance their market share, expand their geographical presence, and diversify their product portfolios. For instance, the planned merger between Digital Solutions and Airtronics USA exemplifies this trend, with Airtronics USA specializing in electro-mechanical engineering design and manufacturing of grenade launchers, RPG launchers, and rifles.

Recent Developments:

  • In March 2024, Saab, a Swedish defense company, is set to commence production of the Carl-Gustaf M4 shoulder-launched weapon system in India. This production will take place at Saab's newly established plant in the Jhajjar district of Haryana, marking the company's inaugural 100% foreign direct investment (FDI) venture in India's defense industry.
  • In October 2021, Iran officially opened production lines for man-portable missiles and a facility for generating solid fuel, enhancing the country's capability in manufacturing sophisticated shoulder-launched missiles with increased range and speed.

Market Segment Insights

Shoulder-Fired Weapons Component Insights: Market segmentation based on components includes ammunition and launcher categories, with the increasing need for portable anti-tank weapons driving market growth.

Shoulder-Fired Weapons Range Insights: Segmentation based on range includes short range, medium range, and high range categories, with the medium-range segment dominating market growth in 2022. The increasing demand for lightweight guided weapons contributes to the growth of this segment.

Browse Report – Explore the report’s contents, sections, and key insights by browsing through its detailed information

Shoulder-Fired Weapons Regional Insights: Regional market insights encompass North America, Europe, Asia-Pacific, and the Rest of the World. North America is experiencing significant growth, propelled by increasing research and development activities and advancements in warfare technology. Additionally, the rising adoption of man-portable anti-tank weapons and air defense systems further augments market growth.

Key Market Players & Competitive Insights

Major market players are heavily investing in research and development to expand their product lines, driving further growth in the Shoulder-Fired Weapons Market. Additionally, strategic initiatives such as new product launches, mergers and acquisitions, and increased investments are contributing to market expansion. Key players in the industry include Denel Soc Ltd, JSC KBM, Lockheed Martin Corporation, MBDA Holdings SAS, Rafael Advanced Defense Systems Ltd, Raytheon Company, Roketsan AS, Saab AB, and Thales Group.

Industry Developments

  • In May 2022, Lockheed Martin announced plans to nearly double the production of the Javelin anti-tank shoulder-fired weapon, aiming to increase annual production from 2,100 to 4,000 units.
  • In April 2022, the US army released a request for information (RFI) to the industry as part of its efforts to replace its stockpiles of FIM-92 Stinger MANPADS with new similar-functioning missiles.

In conclusion, the Shoulder-Fired Weapons Market Outlook is witnessing significant growth, driven by increasing defense expenditure, rising demand for portable anti-tank weapons, and advancements in lightweight guided weapons technology. Strategic initiatives by key market players and technological advancements are further propelling market expansion, driving revenue generation within the industry.

About US

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor New York 10013, United States of America

Sales: +1 628 258 0071 (US) +44 2035 002 764 (UK)

Email: Sales@marketresearchfuture.com

 

 

 

Pesquisar
Patrocinado
Categorias
Leia Mais
Industry
Galvanized Fasteners Manufacturer in Benin - Sachiya Steel International
Galvanized Fasteners are indispensable in industrial hardware, ensuring structural integrity...
Por Steel Tube 2024-06-26 09:55:33 0 540
Jogos
"Harvest" started the current league driving players who want to make the most of the new mechanics
It has been a month since "Harvest" started the current league in the action RPG Path of Exile,...
Por Jennymill Jennymill 2020-07-25 07:41:12 0 3K
Outro
Illuminating Spaces: The Magic of Custom Neon Signs and Tent Canopy Tents
In today’s world, where individuality and personalization are highly valued, custom neon...
Por Flagbanner Online 2024-08-29 12:11:39 0 339
Outro
Effective Relief with Chinese Medicine for Eczema
Eczema, also known as atopic dermatitis, is a chronic skin condition characterized by...
Por Wilburs Williams 2024-08-14 12:07:10 0 472
Art
《颜心记》因其豪华的演员阵容而备受关注。
花猪TV在播的《颜心记》作为一部备受瞩目的国产剧集,由才华横溢的导演于中中匠心执导,定于2024年与观众见面,无疑已经吊足了广大剧迷的胃口。该剧自筹备之初便因其豪华的演员阵容而备受关注,集合了多...
Por 上校 鹿 2024-09-07 02:23:11 0 229