What is the global market size of Shoulder Fired Weapons Market?

Global Shoulder Fired Weapons Market size was valued at USD 6.9 billion in 2022 and is poised to grow from USD 7.21 billion in 2023 to USD 9.81 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

Shoulder Fired Weapons Market Size

Shoulder Fired Weapons Market Insights

Global Shoulder Fired Weapons Market size was valued at USD 7.21 billion in 2023 and is poised to grow from USD 7.53 billion in 2024 to USD 10.71 billion by 2032, growing at a CAGR of 4.5% during the forecast period (2025-2032).

The expansion of the shoulder-fired weapons industry is significantly driven by the surge in military expenditures observed in both established and emerging nations. Globally, there is an increasing demand for lightweight guided weapons, coupled with the widespread adoption of man-portable anti-tank systems (MANPATS) and man-portable air defense systems (MANPADS). These systems provide military forces with a distinct advantage by allowing them to engage targets without being overly concerned about strike accuracy or the weight of the weapon.

The industry is further propelled by the escalating use of advanced armored machinery in conflicts, necessitating the deployment of sophisticated shoulder-fired weapons. Additionally, the preference for global shoulder-fired weapons over conventional arms is on the rise, driven by their cost-effectiveness. This confluence of factors underscores the pivotal role of the shoulder-fired weapons market in addressing the evolving needs and challenges of modern warfare scenarios.

FAQs

The competitive environment of the global Shoulder Fired Weapons market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Saab AB (Sweden) ', 'Lockheed Martin Corporation (USA) ', 'General Dynamics Corporation (USA) ', 'MBDA (France) ', 'RTX Corporation (USA) ', 'BAE Systems plc (UK) ', 'Rafael Advanced Defense Systems Ltd (Israel) ', 'Rheinmetall AG (Germany) ', 'Roketsan Roket Sanayii ve Ticaret AS (Turkey) ', 'Bharat Dynamics Limited (India) ', 'AirTronic USA LLC (USA) ', 'Northrop Grumman Corporation (USA) ', 'Thales Group (France) ', 'Denel SOC Ltd (South Africa) ', 'JSC KBM (Russia) ', 'KBP Instrument Design Bureau (Russia) ', 'JSC SPA Bazalt (Russia) ', 'Leonardo S.p.A. (Italy) ', 'Hanwha Corporation (South Korea) ', 'Safran SA (France) '

The deployment of man-portable anti-tank systems (MANPADS) and man-portable air defense systems (MANPADS) offers significant advantages to military forces, providing them with the capability to engage targets with enhanced flexibility and reduced concerns about strike accuracy and weapon weight. In the face of increasing utilization of sophisticated armored machinery in modern conflicts, many nations are prioritizing the integration and use of MANPADS and MANPADS to effectively counter these threats. Contemporary MANPADS systems are equipped with advanced features, including ultraviolet sensors for radiation detection, infrared sensors for heat detection, and smart control units. These technological enhancements not only improve the precision and efficiency of these portable systems but also contribute to their adaptability in diverse operational environments, thereby bolstering the defensive capabilities of military forces against airborne threats and armored vehicles.

The shoulder-fired weapons market in North America boasts the presence of numerous small and medium-sized vendors, with the industry currently undergoing notable merger and acquisition (M&A) activities. These strategic moves are instrumental in helping companies enhance their market share, expand their geographical presence, and diversify their product portfolios. A noteworthy example of this trend is the impending merger between Digital Solutions and Airtronics USA. Airtronics USA, specializing in electro-mechanical engineering design and manufacturing, features a product range that includes grenade launchers, RPG launchers, and rifles. The planned merger is expected to inject an additional US$550,000 into Airtronics USA, facilitating the completion of pending contracts and purchase orders. This consolidation highlights the dynamic nature of the market, where M&A activities serve as key drivers for growth and competitiveness among industry players.

North America is currently witnessing significant growth attributed to the increasing emphasis on research and development activities aimed at developing innovative technology-based designs for portable warfare systems. Technological advancements within the warfare platform are serving as a catalyst for the expansion of the North American shoulder-fired weapon market. The adoption of cutting-edge man-portable anti-tank weapons and man-portable air defense systems is providing a distinct advantage to troops.