Automatic Weapons Market to Surpass USD 14.88 Bn by 2030 and Revolutionizing Defense with Advanced Firepower

Automatic Weapons Market?Scope & Overview:

The impetus behind this surge lies in the continuous modernization of defense forces, escalating global conflicts, and the demand for innovative, automated firearms reshaping the landscape of military capabilities.

As per the latest insights from the SNS Insider report, the Automatic Weapons Market, valued at USD 8.06 billion in 2022, is anticipated to reach a commanding market size of USD 14.88 billion by 2030. The Compound Annual Growth Rate (CAGR) of 7.98% expected over the forecast period from 2023 to 2030 underlines the increasing significance of Automatic Weapons?in contemporary defense strategies.

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The Automatic Weapons Market?exhibits moderate consolidation, with major players including Northrop Grumman Corporation, General Dynamics Corporation, Sig Sauer, Inc., Rheinmetall AG, and BAE Systems plc holding substantial shares. Recent industry shifts have led to the production of lightweight, durable firearms tailored to specific military needs. Manufacturers are focusing on materials that endure harsh conditions, as global deployments become more frequent and prolonged, and competition intensifies for large procurement contracts.

Market Analysis

Rapid growth in defense spending, particularly in developing nations, serves as the primary driver for the Automatic Weapons Market. The modernization efforts of various countries, seeking the latest firearms to equip their militaries, contribute significantly to the market's expansion. The rise in internal conflicts globally, such as those between Turkey and Cyprus, India and China, and Russia and Ukraine, fuels the procurement of advanced Automatic Weapons?to address regional tensions.

Segment Analysis

The Automatic Weapons Market?is segmented by end-use into land, naval, airborne, and handheld & stationary. The land segment is projected to witness the fastest CAGR during the forecast period, driven by an increased focus on close combat systems, armored platform upgrades, connected warfare systems, and ensuring soldier safety in war-like scenarios. Automatic rifles, leading the product segment, fire continuously and are anticipated to dominate the market due to their widespread production and demand in Europe and the United States.

Market Segmentation & Sub-segmentation included are:

By Type

• Fully Automatic
• Semi-Automatic

By Caliber

• Small Caliber
• Medium Caliber
• Large Caliber

By Product

• Automatic Rifle
• Machine Gun
• Automatic Launchers
• Automatic Cannon
• Gatling Gun

By End-Use

• Land
• Naval
• Airborne
• Handheld

Key Regional Development

North America takes the lead in military development, fueled by technological advancements and collective defense budgets. The region hosts a majority of companies in the Automatic Weapons Market, consolidating its global dominance. In contrast, Asia-Pacific is anticipated to experience the fastest growth, with rising conflicts and the strategic advantage of the Indo-Pacific region driving lucrative prospects for Automatic Weapons.

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Key Takeaways

• Strategic Modernization: Automatic Weaponsplay a pivotal role in the ongoing modernization of defense forces globally, catering to specific military requirements and ensuring durability in diverse environmental conditions.
• Regional Dynamics: North America remains at the forefront of military development, while Asia-Pacific emerges as the fastest-growing region, responding to escalating conflicts and strategic advantages.
• Competitive Edge: Manufacturers are intensifying competition to secure large procurement contracts, driving innovations in Automatic Weaponsto meet the evolving demands of contemporary warfare.

Recent Developments

In March 2023: ?Sako,?a Finnish ammunition maker, announced an USD 83.1 million agreement to supply new individual rifles to the defense forces of Finland and Sweden. The deal includes Automatic Weapons?in various calibers

In January 2023: L3Harris Technologies?secured a USD 40 million Department of Defense deal to deploy 14 VAMPIRE? Multi-Role Weapon Systems to Ukraine's security forces, enhancing their ISR capabilities.

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