Automatic Weapons Market

Long-term contracts and new product launches are among the key strategies adopted by the leading players to grow in the Automatic Weapons Market

The automatic weapons market is expected to grow from an estimated USD 6.0 billion in 2018 to USD 8.7 billion by 2023, at a CAGR of 7.82% during the forecast period. General Dynamics Corporation (US), Northrop Grumman (US), Rheinmetall AG (Germany), ST Engineering (Singapore), and KBP Instrument Design Bureau (Russia), among others, are the key players in the automatic weapons market. These companies are expected to continue to lead the market during the forecast period.

These companies have manufacturing facilities worldwide and are focused on technological innovations and the development of high-quality automatic weapon systems. The automatic weapons market is highly competitive, with a large number of global and local market players who have adopted various strategies to expand their global presence and increase their market shares. Contracts and new product launches are the major strategies adopted by market players to grow in the automatic weapons market.

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Top 2 players of the automatic weapons market

General Dynamics Corporation (US) Corporation is one of the leading US-based defense contractors. The company operates through four business segments, namely, aerospace, combat systems, information systems & technology, and marine systems. Under the combat systems segment, the company manufactures a wide range of products, including main battle tanks, tracked & wheeled military vehicles, weapons systems, armaments, and munitions. It also manufactures large, medium, and small caliber light weapons, mortars, artilleries, bomb bodies, non-lethal products, solid propellants, and force protection products.

General Dynamics Corporation is the leading player in the automatic weapons market, based on the number of contracts received by the company in recent years. In 2018, the company has received a USD 92.3 million contract modification for M918E1 40mm high velocity target practice grenade. M918E1 40mm high velocity grenades are designed specifically for the Mk19 automatic grenade launcher. The Mk19 is designed for being mounted on tripods or on turrets of vehicles such as the HMMWV, Joint Light Tactical Vehicles, and other systems.

Northrop Grumman Corporation operates through three business segments, namely, aerospace systems, mission systems, and technology services. The company is the second-largest player in the automatic weapons market. It conducts R&D activities involving applied research and new product and systems development. R&D investments remain a top priority for the company and hold the key to its competitiveness. In June 2018, Northrop Grumman acquired Orbital ATK, a global leader in aerospace and defense technologies. Orbital ATK is now Northrop Grumman’s fourth business sector, named as Northrop Grumman Innovation Systems.

Related Reports:

Automatic Weapons Market by Product (Automatic Rifle, Machine Gun, Automatic launchers, Automatic Cannon, Gatling Gun), End Use (Land, Airborne, Naval, Handheld & Stationary), Caliber (Small, Medium, Large), Type, and Region - Global Forecast to 2023

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Report Code
AS 6857
Published ON
Jan, 2019
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