The global light weapons market is estimated to be $1.36 billion in 2014 and is expected to reach $1.56 billion in 2019. The entire light weapons market can be divided into three basic segments: anti-tank guided weapons (ATGW) market, man-portable air-defence systems (MANPAD) market and unguided weapons market. The ATGW market is estimated to be $908.47 million in 2014 and is expected to register a CAGR of 3.14% to reach $1.60 billion in 2019. The global MANPAD market is estimated to be $123.88 million in 2014 and is expected to register a CAGR of 1.67% to reach $131.63 million in 2019. The global unguided weapons market is estimated to be $333.92 million in 2014 and is expected to register a CAGR of 1.90% to reach $366.87 million in 2019.
The key growth regions will be Asia-Pacific, Latin America, and Africa. Countries such as China, Argentina, Mexico, and Saudi Arabia, will show reliable levels of growth.
The growth for this market will be sluggish in the North American and European regions. The man-portable air defence systems market is expected to grow rapidly over the next 5 years. Significant investments are being made by the countries from the Asia-Pacific, Middle Eastern, and Latin American regions, in the design and development of high-precision weapons will prove to be a prominent driver for the light weapons market. The emerging countries like India, Singapore, and South Korea, will actively be involved in manufacturing firearms, mortars, and grenade launchers.
The increasing demand in anti-tank guided weapons will significantly drive the land-based platform of this market. Heavy machine guns shall be in high demand and procured by most of the homeland security forces of the world.
The increased precision capabilities of the light weapons with technological advancements will certainly drive this market. Robust, portable, and guided technologies will enhance light weapons and make them more sophisticated and combat-proven.
Alliant Techsystems Inc. (U.S.), Lockheed Martine (U.S.), Raytheon (U.S.), and General Dynamics (U.S.), will be the market leaders that occupy a significant market share for light weapons.
Light Weapons Market by Product - MANPADS (Man-Portable Air-Defence Systems, ATGW (Anti-Tank Guided Weapons), Heavy Machine Guns, Mortars/Grenade Launchers, Recoilless Rifles), Technology (Guided and Unguided), Platform (Defence and Homeland Security) by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, ROW) - Forecasts & Analysis to 2014 – 2019
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