Automatic Weapons Market Size to Record 7% CAGR Over 2023-2030; Innovations in Weapons Technology to Boost Market Growth

The global automatic weapons market size touched USD 8.09 billion in 2022 and is predicted to reach USD 8.62 billion in 2023. The market is anticipated to touch USD 13.83 billion by 2030, recording a CAGR of 7% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Automatic Weapons Market Size, Share, COVID-19 & Russia-Ukraine War Impact Analysis, By Caliber (Small Caliber, Medium Caliber, and Large Caliber), By Product (Automatic Rifles, Machine Guns, Automatic Launchers, Automatic Cannons, and Gatling Guns), By Type (Fully Automatic and Semi-Automatic), By End Use (Land, Naval, Airborne, and Handheld & Stationary) and Regional Forecast, 2023-2030.”

The world is witnessing an alarming rise in the instances of cross-border conflicts and tensions, the most recent example of this being the ongoing Russia-Ukraine war. This factor has boosted the demand for innovative weapons and combat technologies to enhance their national security and be better prepared for future attacks. Semi-automatic and fully-automatic weapons are being increasingly used in battlefield operations as they enhance the performance and efficiency of armed forces. The integration of advanced technologies also gives them an edge over their enemies across the border. These characteristics are anticipated to fuel the market growth.

Market to Gain Momentum Post COVID-19 Pandemic Due to Rising Defense Investments

The COVID-19 pandemic had a negative effect on the market growth during the initial stages due to sudden supply chain disruptions and stoppage of production activities. However, in 2022, the revenues of companies involved in this market started growing as governments across the world encouraged them to ramp up their production capacity to compensate for the lost revenue. They also increased their investments in different sectors, such as defense, which is expected to boost the market progress.

Russia-Ukraine War Increase Procurement of Weapons, Boosted Market Growth

While the ongoing Russia-Ukraine conflict had a severe impact on the functioning of several industries, one sector that flourished during this period was the defense as the demand for military weapons skyrocketed. As more countries started sending their consignments of defense weapons to Ukraine, the demand for automatic weapons rose, which further fueled the market development.

Innovations in Weapons Technology to Boost Market Growth for Automatic Weapons

Fully automatic weapon systems are being developed on a large scale to cater to the rising defense requirements of various nations. Ammunition manufacturing companies are also introducing advancements in their weapon technologies to fulfill this demand. For instance, features, such as a biopod, heavy barrel to protect the weapon from overheating during long training hours, and ability to carry more weapons are expected to bolster the market development.

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Key Market Participants to Bring Innovations in Weapon Technology to Strengthen Market Position

Some of the leading manufacturers operating in this market are focusing on bringing constant innovations to their products to expand their customer base and fulfill unique defense requirements. They are also trying to diversify their product portfolios to enhance their market position.

Notable Industry Development:

• January 2023 – L3Harris Technologies announced that it had received a USD 40 million contract from the Department of Defense to deliver 14 Vehicle Agnostic Modular Palletized ISR Missile Equipment - or the VAMPIRE™ Multi-Role Weapon System - to boost Ukraine's security defenses.

List of the Companies Profiled in the Report:

• BAE Systems (U.K.)
• Denel Land Systems (South Africa)
• FN Herstal (U.K.)
• General Dynamics Corporation (U.S.)
• Kalashnikov Concern (Russia)
• KBP Instrument Design Bureau (Russia)
• Northrop Grumman Corporation. (U.S.)
• Rheinmetall AG (Germany)
• ST Engineering (Singapore)
• Israel Weapon Industries (IWI) (Israel)

Further Report Findings

• North America is anticipated to dominate the global automatic weapons market share as the region has a notable presence of leading manufacturers. Governments across the region are consistently increasing their investments in the defense sector to improve their military power, further improving the regional market’s growth.
• Asia Pacific is estimated to record a healthy growth rate in the global market as the arms & ammunitions sector of countries, such as India and China is expanding at a robust pace.
• The automatic rifle segment captured a dominant share of the market in 2022 as there is a strong demand for these weapons from many armed forces across the world due to their high precision and efficiency.

Table of Segmentation