Deep Analysis of Impact of COVID-19 on “Small Arms Light Weapons Market 2018-2024” Growth Worldwide….


The global small arms light weapons market is expected to reach USD 25.76 billion by 2024, according to a new report by Grand View Research, Inc. The increasing issues on human rights and safety and security are expected to drive the demand. The increasing effects of urban warfare along with increasing terrorism incidents have also led to the development of the small arms light weapons across various regions. An increase in the urban warfare along with increased terrorist activity is anticipated to propel the market growth. The development of light-weight weapons for further enhancement of defense system is an ongoing trend in the developed countries.
Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
Increasing criminal activities and human rights violations have resulted in the increased efforts for the technology advancements and modernization of the weapons utilized by law enforcement. The Combat Development and Integration Command’s Fires and Maneuver Integration Division of marines introduced the small arms modernization strategy which is expected to focus on updating and developing the current weapons in short-term and futuristic systems that could hit the fleet in the 2020s.
The governments of various countries are also investing their resources for the development of highly sophisticated weapon accessories such as night vision devices, laser rangefinders, weapon sights, aiming lasers, and fire control systems. High investment in the defense Research & Development (R&D) for shoulder –wired weapons made for developing a highly robust, reliable, and durable weapons system has also catapulted the demand for light weapons in military applications. The limited defense budget to boost the development of defense system is expected to hinder the market growth.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/small-arms-light-weapons-salw-market/request/rs1
Further key findings from the study suggest:
·         In 2015, light weapons market accounted for over 60% of the overall market share and is also expected to significantly growth over the forecast period. The implementation of modernization programs for police and the military forces is expected to drive the growth.
·         Rifles in small arms segment are expected to witness a significant growth at a CAGR of over 20% over the forecast period. The increasing interest of civilians in the shooting sports is expected to be the reason for growth.
·         Grenade and grenade launchers are expected to witness enormous growth in the light weapons segment owing to increased stress between countries and increased development of grenade launchers
·         The military application segment is anticipated to witness substantial growth and is estimated to reach over USD 13.0 billion by 2024. The widespread geographic presence of terrorism and human rights violation had led to the increased demand of light weapons market. Increased violation of civilians rights and law enforcement regulations have also triggered its growth.
·         The Asia Pacific SALW market is anticipated to grow at a CAGR of over 25% over the forecast period. Increasing technology and economic developments in the emerging countries such as China and India with their cross-border disputes has contributed to the growth.
·         Notable companies operating in the SALW market include Raytheon, Berette S.p.A., GLOCK Ges m.b.H., and FN Herstal SA
The global small arms and light weapons (SALW) market size was valued over USD 18.70 billion in 2015. The increasing civilian interest in various sports such as shooting and self-defense are expected to boost market growth for small arms weapons. The rising incidents of armed violence and terrorism has led the civilians to procure the weapons for self-defense purposes. Various law enforcement and military agencies have also invested heavily in the industry globally for acquiring advanced weapon systems which include pistols, rifles, and shotguns.
The government agencies in Asia Pacific and the Middle East implemented the Police Modernization Program and Soldier Modernization Program owing to a high number of terrorist incidents across the regions. Furthermore, the initiatives taken by countries such as Russia, the U.S., and France against terrorism is anticipated to result in an increased demand. The increasing measures to curb the human right violations and drug trafficking has also contributed towards the small arms light weapon market growth. Mergers & acquisitions and strategic alliances among the manufacturers have contributed to the product development and growth.
Have any Query? Ask our Experts:
https://www.grandviewresearch.com/inquiry/3599/ibb
Grand View Research has segmented the global SALW market on the basis of type, application,:
SALW Type Outlook (Revenue, USD Million; 2014 - 2024)
·         Small Arms
·         Light Weight
SALW Application Outlook (Revenue, USD Million; 2014 - 2024)
·         Military
·         Law Enforcement
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more