Global Arms Market To Grow At A CAGR Of 2.1% During The Forecast Period 2016-2024

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Aggression in Middle East nations, amplified terrorism and issues pertaining to sovereign security and cyber-security tend to upsurge the defense expenditure in major developed and developing countries thus creating huge demand for defense equipment.

Global Arms market is expected to expand at a compound annual growth rate (CAGR) of 2.1% over the forecast period i.e. 2016-2024.Further, during the interval period of 2012-2016, over 127,274 units of arms were exported across the globe.

Market Landscape

Delicate security and constant border security uncertainty are becoming a major distress for every nation. With the advancement in technology, developing and developed nations are equipping their army and security forces with advanced weapons. America is the leading arms exporter and sells arms to more than 100 countries.The Firearms & Ammunition Industry is an Important Part of United States economy business in the United States that manufactures, distribute and sell firearms, ammunition and hunting gears employ as many as 141,500 people in the region and generate an additional 159,623 jobs in supplier and subsidiary industries. The top five countries, measured by military expenditure in 2016 – the US, China, Russia, Saudi Arabia and India – account for about 64% of the world market. Global defense expenditure has augmented for the first time since 2011, according to the latest report by the Stockholm International Peace Research Institute (SIPRI). In total, countries across the globe poured USD 1.686 trillion on arms in 2016, a 0.4 percent increase on 2015.

Global arms market size report covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the arms industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, Arms manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall arms industry outlook.

Global Arms Market Segmentation can be classified on the basis of:- 

  • Based on Types of Weapon
  • Land Based Weapon
  • Aerospace Based Weapon
  • Naval Based Weapon
  • Digital Arms
  • Based on Application
  • Military & Defense Actions
  • Law Enforcement
  • Hunting & Sports
  • Self-Defense
  • Based on Geography
  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Export & Import Size (USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Export & Import Size (USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden &RoE) {Market Size (USD Billion), Growth Analysis (%) and Export & Import Size (USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Export & Import Size (USD Billion)}
  • The Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Export & Import Size (USD Billion)

 

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Market Trends, Drivers, and Challenges

Mounting conflicts and wars between countries, cross-border clashes and intensifying fear of terrorism across the globe are the major factors driving the governments to attain more advanced and efficient arms and weapons for their military and defense operations. This is likely to contribute in the growth of global arms market.Moreover, countries are more involved in export and imports of arms across the globe. For instance, South Korea is the export partner of Latin America and exports aircraft and warship.  Vietnam, one of the fastest growing economies of South-East Asia, has increased weaponry its import by three folds in 2016 as compared to 2011.

Arms industry analysis report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global Arms market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

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