Dallas, TX -- (SBWIRE) -- 04/30/2014 -- According to a new market research report of “Small Arms Market (Pistols, Rifles, Sub Machine Guns, Assault Rifles and Light Machine Guns), by Application - Civil, Military, Homeland Security, by Region, by Country - Global Forecasts and Analysis to 2014 – 2019”, published by MarketsandMarkets, the market is expected to register growth with a CAGR of 2.60%, and reach $1,927.46 million by the end of 2019.
Browse more than 60 market data tables with 15 figures spread through 150 pages and in-depth TOC on " Small Arms Market ".
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According to Paridhi Kuiya and Sonia Mutreja, Research Associates, Aerospace and Defense business unit at MarketsandMarkets, the global small arms market (2014-2019) report offers a detailed analysis of the pistols, rifles, assault rifles, submachine guns, and light machine guns market, over the next five years. The report also provides the potential market opportunities to enter the industry, using detailed market-size forecasts.
The small weapon market is segmented, based on product, application, and geography. It is expected to grow at a CAGR of 2.60% during the forecasted period.
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The Middle East is one of the major contributors of small arms. During 2014-2019, 22% of arms transfer from the region went to the UAE and 20% went to Saudi Arabia. This is mainly due to political instability and increasing domestic terrorism. The rising demand for small weapons is attributed to the conflict of Syria. The people are buying guns for protection against any violent attack.
According to Paridhi Kuiya and Sonia Mutreja, Research Associates, Aerospace and Defense business unit at MarketsandMarkets ,the value of the current global small arms market at $1,695.41 million. Self- defence, change in the nature of warfare, the militarization of police force, drug trafficking, lethality, and the low cost of small weapons and binary-coded gun barrels are the driving factors for this market. The international trade in small arms is diverse, vigorous, and is creating an impact on every region of the world. North America (NA) and the Middle East are the major regions that constitute a major market share of the small weapons market and are expected to produce around $1,927.46 million weapons by the end of 2019.
The major players of the small arms market from the U.S. and Israel are expected to grow at a faster rate. Due to the economic downturn, major countries such as the U.S. and the U.K. are witnessing economic difficulties.
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Recreational hunters and other private individuals are buying millions of imported rifles, shotguns, and rounds of ammunition each year. Millions of additional foreign-sourced weapons are procured by the military and law enforcement agencies worldwide.
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