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Shoulder Fired Weapons Market Forecast, Emerging Trends, and Outlook

The global shoulder fired weapons market was valued at USD 6,224.6 million in 2019 and is expected to decline slightly to USD 5,303.4 million in 2020 before reaching USD 13,276.63 million by 2032, growing at a CAGR of 6.0% during the forecast period. <br>

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Shoulder Fired Weapons Market Forecast, Emerging Trends, and Outlook

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  1. The global shoulder fired weapons market was valued at USD 6,224.6 million in 2019 and is expected to decline slightly to USD 5,303.4 million in 2020 before reaching USD 13,276.63 million by 2032, growing at a CAGR of 6.0% during the forecast period. In 2019, North America led the market, accounting for a 36.28% share. North America dominated the shoulder-fired weapons market with a 36.28% share in 2019, supported by high defense budgets, the presence of major defense contractors, and continuous investments in missile advancements. By technology, the guided segment is expected to account for 72% of the market share in 2025, while by component, the launcher segment is projected to generate USD 1,171.76 million in revenue. Regionally, Japan’s market is anticipated to reach USD 227.32 million by 2025, and India is set to witness a strong CAGR of 7.60% owing to increased defense spending and adoption of anti-tank guided missile systems. The United States continues to lead with large defense budgets, advanced R&D programs such as DARPA initiatives, and ongoing contracts with key players like Lockheed Martin and Raytheon. Meanwhile, Europe is expected to grow at a CAGR of 5.30%, driven by armed forces modernization and contracts for precision-guided missile systems such as MBDA’s Enforcer. Information Source: https://www.fortunebusinessinsights.com/shoulder-fixed-weapons-market-105026 Key Players: Leading the charge in this competitive landscape are key players such as Northrop Grumman Corporation (US) Konstruktorskoye Byuro Mashynostroyeniya (Russia) Lockheed Martin Corporation (US) Thales Group (France) Saab AB (Sweden) KBP Instrument Design Bureau (Russia) Raytheon Company (US) Rafael Advanced Defense System (Israel) MBDA BAE Systems (UK) JSC SPA Bazalt (Russia) Segmentation: The Shoulder-Fired Weapons market is segmented based on the type of weapons and their applications. Common segments include Man-Portable Air-Defense Systems (MANPADS) for anti-aircraft purposes and Anti-Tank Guided Missiles (ATGM) for armored vehicle targets. The market also includes disposable and reloadable systems, each tailored to specific operational requirements. Driving Factors: Several factors are propelling the growth of the Shoulder-Fired Weapons market:

  2. 1.Military Modernization: Increasing global military modernization initiatives drive the demand for advanced and versatile shoulder-fired weapons. 2.Counter-Terrorism Operations: The rising threat of terrorism necessitates portable and efficient weapons for quick response and adaptability in diverse operational environments. 3.Geopolitical Tensions: Heightened geopolitical tensions worldwide contribute to the demand for effective shoulder-fired weapons as nations bolster their defense capabilities. Regional Analysis: The market's growth is distributed globally, with North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa playing pivotal roles. North America and Europe dominate due to high defense budgets and technological advancements. The Asia-Pacific region is emerging as a significant market player, driven by increased defense spending and the modernization of military forces. Industry Trends: Recent trends in the Shoulder-Fired Weapons market include: 1.Technological Advancements: Integration of advanced technologies, such as infrared guidance and precision targeting systems, enhances the accuracy and efficiency of shoulder- fired weapons. 2.Lightweight and Portable Designs: Manufacturers are focusing on developing lightweight and portable systems to ensure ease of use and mobility for military personnel in various operational scenarios. 3.Collaborations and Partnerships: Strategic collaborations and partnerships among key players and governments are becoming increasingly common, fostering innovation and the development of cutting-edge shoulder-fired weapon systems. As the geopolitical landscape evolves and defense strategies adapt, the Shoulder-Fired Weapons market is expected to witness sustained growth, with key players shaping the future of portable weaponry through innovation and strategic partnerships.

  3. Key Industry Developments: October 2020–The Indian Defense Research and Development Organisation (DRDO) completed the anti-tank missile system's final trial procedure. The missile tracking and engagement system are based on an infrared imaging seeker with a shoulder launch capability of around four kilometres. After this test, the missile will be successfully inducted into the Indian Army.

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