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The Major Players of the Small Arms Market From the World
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.
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.
India, China, Japan, and Belgium, are the new regions that are emerging due to their defense spending and current national security situation. However, it is estimated that the expected CAGR will be 2.60% by the end of 2019.
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
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