The market value and volume are expected to grow with rifled/threaded bore firearms leading the overall growth of the market. The value of global rifled/threaded bore small arms market was $XX billion in the year 2017 and is expected to touch $XX billion by 2023. The market volume of rifled/threaded bore firearms in the year 2017 was XX million units which is estimated to reach XX million units by 2023 at a CAGR of XX% from 2018 to 2023. The growth will be driven by military modernization programs, up gradation activities by law enforcement agencies and increasing demand of handguns for self-defense.
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Small arms are classified into three categories:
An automatic firearm continuously fires rounds with a single trigger operation as long as it is kept pressed. On the other hand, a semi-automatic firearm fires a single round with each trigger operation. In case of manual small arms, an ammunition round is loaded each time by the operator before initiating trigger operation.
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The global market value of semi-automatic small arms with $XX billion in 2017 leads the overall small arms market followed by automatic and manual small arms. The market value of manually operated small arms was $XX billion in 2017 and is projected to touch $XX billion by 2023. With huge expenditure expected on small arms following security concerns, there also has been a steady growth of enthusiasts for hunting and shooting based sports in the Americas. Apart from that, civilians are also showing interest in purchasing small arms for security concerns over personal safety, in different parts of Europe.
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