Automatic Weapons Market Share, Size and Trends | 2031

The Automatic Weapons Market is projected to reach US$ 16.87 billion by 2031 from US$ 8.89 billion in 2023. The market is expected to register a CAGR of 8.3% in 2023–2031.

The face of combat is constantly changing in the current scenario. This is majorly due to the changes in modern warfare technologies. The military forces across the globe are continually looking for advanced technologies to limit their enemies from crossing borders. Also, various military forces are acquiring technologically robust weaponry to enhance soldier capabilities. The trend of soldier modernization is rapidly escalating among several defense forces in developed countries and developing nations across the globe. The development of modern weapons plays a vital role in soldier modernization activities. The demand for advanced weaponry has positively grown among the defense forces over the years, and in recent years, the procurement of automatic weapons has been exponentially increasing. The high demand for automatic weapons has led several well-established companies to venture into the market segment, and also numerous tier 2 companies to manufacture automatic weapons. A huge number of manufacturers present in the market facilitate the defense forces to award contracts to the most preferred manufacturers.

Automatic Weapons Market Analysis

The global defense industry is showcasing extraordinary growth in terms of expenditures, research & development investments, armament procurements, and also soldier modernization. The continuous growth in demand for advanced weaponry, artilleries, and other defense equipment and materials is enabling the defense product manufacturing industry to witness an increase in the number of manufacturers over the years. The weapon manufacturing industry is heavily concentrated, and the growth of the industry is consistently steady. In recent years, the demand for automatic weapons has been growing exponentially, owing to the benefits of the technologically advanced weapon. Due to growing demand, the automatic weapon manufacturing sector is also experiencing growth in manufacturer and supplier concentration. In the current scenario, the bargaining power of suppliers is moderately growing, attributed to the high degree of competition to acquire contracts from the defense forces. However, the bargaining power of suppliers is expected to rise to a higher level in the coming years, owing to the increase in procurement of automatic weapons among the defense forces in developing nations.

Automatic Weapons Market Overview

Automatic weapons market is likely to witness a strong growth during 2023-2031. The demand for automatic weapons market is mainly driven by some of the key factors such as:

• Increasing military expenditure
• Rising awareness for strengthening armed forces with advanced weapons
• Procurement of electronic warfare systems
• Ongoing geopolitical tensions among different countries

Such factors are likely to drive the growth of the automatic weapons market in the coming years.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Automatic Weapons Market: Strategic Insights

Market Size Value in	US$ 7,043.8 Million in 2019
Market Size Value by	US$ 14,945.9 Million by 2027
Growth rate	CAGR of 9.9% from 2020-2027
Forecast Period	2020-2027
Base Year	2020

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

 Speak to Analyst

Automatic Weapons Market Drivers and Opportunities

Rising Number of Contracts for Automatic Weapons

The rising number of contracts for automatic weapons is driving the growth of the automatic weapons market. For instance:

• In April 2022, the US Army awarded a contract for ten years to Sig Sauer Inc. for the manufacture and delivery of two Next Generation Squad Weapon variations (the XM5 Rifle and the XM250 Automatic Rifle) and the 6.8 Common Cartridge Family of Ammunition.
• In September 2023, the US Ministry of Defense awarded a contract to DE&S to provide an Alternative Individual Weapon (AIW) system – known as the L403A1 worth US$ 111 million.

Rise in Military Expenditure to Boost the Market Size

The rise in military expenditure in different countries is likely to generate new opportunities for market vendors in the coming years. For instance, according to the SIPRI data, the global military expenditure in 2020 was around US$ 2046.5 Billion; US$ 2069.76 billion in 2021; and US$ 2148.12 billion in 2022 respectively. This shows a growth in the investments from the military forces worldwide that are constantly procuring different military technologies for upgrading their respective fleet of weapons.

Automatic Weapons Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Automatic Weapons Market analysis are product type, weapon type, application, and geography.

Application (Land, Air, and Naval)

• Based on product type, the Automatic Weapons Market has been segmented into automatic launchers, automatic rifles, Gatling guns, machine guns, and automatic cannons. The automatic rifle segment held a larger market share in 2023.
• By weapon type, the market has been segmented into fully automatic and semi-automatic. The fully automatic segment held the largest share of the market in 2023.
• In terms of application, the market has been segmented into land, air, and naval. The land segment dominated the market in 2023.

Automatic Weapons Market Share Analysis by Geography

The geographic scope of the Automatic Weapons Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

In 2023, the North America region dominated the global automatic weapons market and is expected to retain its dominance during the forecast period as well. This is mainly due to the presence of the largest military spending country i.e. the US and the presence of some of the major automatic weapon manufacturers across the region including Northrop Grumman Corporation, Armalite Inc, Colts Manufacturing Company LLC, Barrett Firearms Manufacturing, and General Dynamics Ordnance & Tactical Systems which continuously support the demands of the US army as well international armed forces. The presence of a significantly large number of players in the region is expected to boost the market growth.

Automatic Weapons Market News and Recent Developments

The Automatic Weapons Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for automatic weapons market and strategies:

• In February 2024, The Ministry of Defence announced that it is in the process of awarding a contract, valued at US$ 49.5 million, to FNH UK Ltd for the Mid Life Improvement (MLI) of the UK Armed Forces Commands’ in-service Heavy Machine Guns (HMG). (Source: UK Ministry of Defense, Press Release/Company Website/Newsletter)
• In April 2022, The Army recently awarded a contract to manufacturer SIG Sauer for two new soldier weapons: the XM5 rifle and the XM250 automatic rifle. For soldiers involved in close-quarters combat, the XM5 replaced the M4/M4A1 carbine rifle, while the XM250 replaced the M249 Squad Automatic Weapon. (Source: US Department of Defense, Press Release/Company Website/Newsletter)

Automatic Weapons Market Report Scope

Automatic Weapons Market Report Coverage and Deliverables

The “Automatic Weapons Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed Porter’s Five Forces analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles with SWOT analysis