Automatic Weapons Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Automatic Weapons Market is segmented By Product (Automatic Rifle, Machine Gun, Automatic Launchers, Automatic Canon, Gatling Gun), By Type (Fully Automatic, Semi Automatic), By Caliber (Small, Medium, Large), By End-user (Land, Maritime, Airborne), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD Billion) for the above-mentioned.
Automatic Weapons Market Size
Market Size in USD
CAGR7.21%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 7.21% |
| Market Concentration | High |
| Major Players | Lockheed Martin Corporation, Northrop Grumman Corporation, FN Herstal, Heckler & Koch, Kalashnikov Concern |
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Automatic Weapons Market Analysis
The Global Automatic Weapons Market is estimated to be valued at USD 9.69 Bn in 2024 and is expected to reach USD 18.69 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.21% from 2024 to 2031. The military modernization programs across major countries and ongoing geopolitical tensions are driving increased spending on weaponry.
Automatic weapons by force are used in a large-scale war on land, airtime and marine. These weapons highly include the state-of-the-art technology designed to function at high-ranges and altitudes. The market is expected to witness positive growth over the forecast period supported by rising defense budgets worldwide. Additionally, the growing instances of cross border terrorism and asymmetric warfare has encouraged militaries to focus on procuring smart and automatic weapons with advanced targeting systems. However, political and economic uncertainties amidst major trading partners could adversely impact the procurement budgets of some countries, thereby slowing down the demand growth of automatic weapons during the forecast period.