Light Weapons Market Size, Share, Growth Analysis, By Type(Heavy Machine Guns, Grenades & Grenade Launchers), By Technology(Guided and Unguided) - Industry Forecast 2024-2031

Light Weapons Market size was valued at USD 13.82 billion in 2021 and is poised to grow from USD 14.47 billion in 2022 to USD 19.93 billion by 2030, at a CAGR of 4.68% during the forecast period (2023-2030).

Light weapons are widely used in defence and homeland security, among other things. Due to the increasing demand for cutting-edge weapons, the military and defence sector has experienced tremendous expansion, which is the main factor driving the market. This can be ascribed to the rising popularity of precision-guided weapons with cutting-edge capabilities such enhanced head-up displays and firing control. The market is also being helped by an increase in the number of light weapon contracts from armed forces and homeland security.

A bright market outlook is also being produced by significant research and development (R&D) efforts made by major weapon makers. Additionally, the market is driven by ongoing technological developments in weapon production, such as the introduction of anti-tank missiles with a longer range, the merging of laser systems into light cannons, and the addition of artificial intelligence (AI) features. For instance, The Canadian MoD announced the purchase of 3,626 C6A1 FLEX General Purpose Machine Guns (GPMG) from Colt Canada in order to maintain the Canadian Armed Forces' access to a cutting-edge and dependable weapon for training and operations.

US Light Weapons Market is poised to grow at a sustainable CAGR for the next forecast year.