Automatic Weapons Market is Estimated to Witness High Growth Owing to Rising Defense Budget Allocations

The automatic weapons market involves weapons that can fire multiple rounds automatically with a single pull and release of the trigger. Automatic firearms including machine guns, automatic rifles, and cannons are highly advanced and efficient in combating enemies with rapid fire capabilities. The growing defense threats across borders and asymmetric warfare have compelled nations to focus on strengthening their armed forces. Expanding defense budgets allow countries to procure sophisticated weapons and upgrade existing armament. Automatic firearms play a vital role in modern warfare strategies as they can inflict heavy casualties within seconds unlike semi-automatic or manual weapons.



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.



Key Takeaways



Key players operating in the automatic weapons market are FN Herstal, Kalashnikov Concern, Lockheed Martin Corporation, KBP Instrument Design Bureau, NORINCO, Denel SOC Ltd., General Dynamics Corporation, Heckler & Koch AG and BAE Systems.



Developing nations across Asia Pacific and Middle East are aggressively procuring modern weapons systems due to rising geo-political tensions. Ongoing technological advancements allow manufacturers to integrate advanced targeting, connectivity and materials in weapons.



Automatic Weapons Market leading arms manufacturers are establishing production facilities and transfer of technology partnerships in foreign nations for global expansion. countries are collaborating to develop and produce next-gen automatic firearms.



Market drivers



Rising defense budgets of major economies acts as a key driver for the automatic weapons market. Nations are allocating increased funds for military modernization to gain strategic and tactical edge over adversaries. As per SIPRI, global military spending rose to nearly $2 trillion in 2020. Growing incidences of cross-border terrorism and asymmetric warfare have compelled nations to strengthen their armed forces with sophisticated automatic weapons. Requirement of suppression of enemy fire and heavy firepower during combat operations favors procurement of automatic firearms. Ongoing R&D initiatives to develop smart and networked weapons will further fuel the demand.

PEST Analysis



Political: Automatic weapons market is regulated heavily by governments across the world. Most countries have strict laws regarding ownership, usage and export of these weapons. This directly impacts the growth of this market.



Economic: Rises in defense budgets act as a major driver for this market. Countries increasing their defense spending tend to invest more in procuring advanced automatic weapons for their military forces. Economic stability also influences the spending capacity of armed forces.



Social: Automatic weapons pose risks in wrong hands. Hence, social sentiment and law enforcement efficiency determine the acceptance and spread of such weapons across a region. Demand significantly differs based on social conditions prevailing in an area.



Technological: Developments in materials, electronics and engineering continuously enhance the firepower, accuracy and operational efficacy of automatic weapons. Armed forces extensively invest in upgrading their arsenal with new technology additions. More powerful and precise weapons demand also emanates from such advancements.



Geographical regions with market concentration

North America leads in terms of value contribution in the automatic weapons market globally. The large defense budgets and high per capita spending on arms and ammunition in countries like the US and Canada make North America a major manufacturing and procurement hub. Asia Pacific region is also emerging as a lucrative automatic weapons market.



Fastest growing region

Asia Pacific region exhibits strongest growth potential for automatic weapons market. Rising defense expenditures of India and China coupled with their increasing geopolitical influence is stimulating demand in Asia Pacific. Territorial conflicts and security threats further propel procurement of automatic weapons to strengthen armed forces across the region. Countries like South Korea, Japan, Australia also substantially contribute to growth of this market.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.

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