Global Small Arms Market Overview:
The arms industry is also known as the defense industry or the arms trade. This industry is responsible for the production and sale of military weapons and technologies. The companies that produce weapons are also known as arms dealers, defense contractors or the military industry. They are solely responsible for producing weapons for the armed forces and civilians of the state. It is a commercial sector involved in R & D, engineering, production and maintenance of military equipment and facilities.
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Small Arms Market was valued at USD xx million in 2018 and poised to touch USD xx million by 2023 growing at a CAGR of xx% during the forecast period 2018 to 2023.
Global Small Arms Market Drivers and Restraints:
The main drivers of market growth are greater participation in hunting and shooting, greater demand for self-defense and law enforcement, and balance political instability. However, the implementation of strict regulations by the regulators for the purchase and retention of weapons is slowing down the growth of the market. In addition, the strict enforcement of laws against hunting is progressively hindering the growth of the market. The increase in measures to exterminate terrorism is a likely opportunity for the market.
Global Small Arms Market Geographic Segmentation:
By geography, it is analyzed across North-America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the sector due to high military spending and the increase in armed violence in the country. The United States remains one of the largest exporters of small arms and ammunition. The Asia-Pacific region is expected to experience significant growth as a result of increased manufacturing capacity, increased civil participation in shooting sports and the growing demand from the defense forces of advanced military systems.
In recent years, official and unofficial information on the production of small arms in Russia has improved considerably. The Russian military-industrial force, including small arms producers in the country, has undergone a dramatic restructuring process in recent years. The Russian government has formed a new policy for the country’s small arms industry. The aim is to merge all Russian small arms developers and manufacturers into two state-owned companies, the Light Arms and Cartridge Corporation, and the High Precision Weapons Corporation, to stimulate demand throughout the European region.
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Key Players of Global Small Arms Market:
Key players in the Small Arms Market include Fabbrica dArmi Pietro Beretta S.p.A., Colt Manufacturing Company LLC., GLOCK Ges.m.b.H, Heckler and Koch GmbH, HS Produkt, Israeli Weapon Industries, Concern Kalashnikov, Remington Arms Company LLC, SIGSAUER, and Smith & Wesson.
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