Shoulder Fired Weapons Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Shoulder Fired Weapons Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The shoulder-fired weapons market has experienced significant growth recently, projected to rise from $7.19 billion in 2023 to $8.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.1%. The historical growth can be attributed to various factors, including military modernization programs that enhance armed forces' capabilities, ongoing counter-terrorism and insurgency operations, geopolitical conflicts and regional tensions that necessitate advanced weaponry, specific requirements for infantry and special operations forces, as well as increasing law enforcement and homeland security needs.
What Are The Forecasts For The Global Shoulder Fired Weapons Market Size And The Predicted Annual Growth Rates?
The shoulder-fired weapons market is anticipated to experience rapid growth in the coming years, with projections indicating an increase to $12.32 billion by 2028, representing a compound annual growth rate (CAGR) of 11.2%. This forecasted growth is driven by several key factors, including the emergence of new security threats that require enhanced defense capabilities, a shift in military doctrine emphasizing adaptability and responsiveness, considerations related to urban warfare that demand versatile weapon systems.
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What Are The Major Factors Driving The Growth Of The Shoulder Fired Weapons Market?
The shoulder-fired weapons market is set to benefit significantly from the increase in defense expenditures globally. As nations allocate more resources to their military capabilities to maintain power and enhance security, the demand for effective and versatile armaments like shoulder-fired weapons is expected to rise. These weapons are integral to armed forces around the world, serving critical roles in defense and safety operations. The focus on bolstering military strength and readiness will likely lead to increased procurement and modernization of shoulder-fired weapon systems, further fueling market growth.
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Which Major Market Players Are Propelling the Shoulder Fired Weapons Market?
Key players in the shoulder fired weapons market include China North Industries Group Corporation, Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems PLC, Thales Group, Singapore Technologies Engineering Ltd., Rheinmetall AG, Saab AB, Rafael Advanced Defense Systems Ltd., Poongsan Corporation, Nordic Ammunition Company, John Cockerill, Chemring Group PLC
What Trends Are Shaping the Future of the Shoulder Fired Weapons Market Size?
Major companies in the shoulder-fired weapons market are prioritizing production expansion to satisfy the rising demand for advanced, portable, and lethal weaponry. This strategy involves enhancing manufacturing capacity through the growth of facilities, processes, and resource allocation, enabling firms to produce a higher volume of products.
What Is the Segmentation of the Global Shoulder Fired Weapons Market?
1) By Type: Guided, Unguided
2) By Component: Launcher, Ammunition
3) By Application: Defense, Home Security, Others
Regional Insights: North America's Dominance in the Shoulder Fired Weapons Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Shoulder Fired Weapons Market?
Shoulder-fired weapons are firearms designed to be fired from the shoulder, providing stability and accuracy during use. These weapons typically include rifles, shotguns, and some types of grenade launchers, allowing for a range of applications from military and law enforcement to hunting and sport shooting. The design enables the shooter to brace the weapon against their shoulder, enhancing control and reducing recoil, making them effective for both close and long-range engagements.
The Shoulder Fired Weapons Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Shoulder Fired Weapons Market Report: Trends, Opportunities, Strategies, and More
The Shoulder Fired Weapons Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into shoulder fired weapons market size, shoulder fired weapons market drivers and trends, shoulder fired weapons competitors' revenues, and shoulder fired weapons market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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