Small arms are guns or firearms that are used by individuals as a mode of self-defense. They are compact guns and can include rifles, handguns, light machine guns, and shotguns. The purpose of small arms can vary from defense to sports. They are normally used by military personnel and police. The material used in the manufacture of small arms is available in abundance and ease. Lenient law enforcement policies regarding the use of small arms will lead to wider product adoption across the world. The low-cost of these arms is a primary reason why they are used on a large scale, especially in countries such as the United States. The increasing adoption of small arms will have a direct impact on the growth of the overall market in the coming years.
The global small arms market size is projected to reach USD 6.52 billion by the end of 2027. The rising cross-border disputes and tense relations will lead to wider product adoption across the world.
List of companies profiled in the report:
- American Outdoor Brands Corporation
- Fabbrica d'Armi Pietro Beretta S.p.A.
- FN HERSTAL
- General Dynamics Corporation
- Heckler & Koch GmbH
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Sturm, Ruger & Co., Inc.
- Taurus International Manufacturing, Inc.
- Thales Group
Industry Developments:
February 2019- Portugal announced that it has signed a contract of worth USD 50.3 million with FN Herstal. The contract will be aimed at the distribution and development of 1,000 5.56x45mm rifles and 300 new 7.62x51mm rifles. It will also include the development of 830 5.56x45mm light machine guns and 320 7.62x51mm general-purpose machine guns.
April 2019 – The U.S. customs and border protection signed a contract with Glock, Inc. worth USD 85 million to provide next-generation standard duty handgun for CBP law enforcement personals.
December 2019- French Ministry of Defense signed a contract of worth USD 111.74 million with FN Herstal to provide around 2,600 semi-automatic sniper rifles chambered for 7.62×51 mm, 3.15 million armor-piercing rounds, 3.15 million match-grade rounds, 1,800 night-vision sights, and 1,000 thermal weapon sights.
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According to a report published by Fortune Business Insights, titled “Tactical Data Link Market Size, Share and Industry Analysis by Solution (Hardware, and Software), By Platform (Air, Ground, and Sea), By Application (Command & Control, Intelligence, Surveillance & Reconnaissance (ISR), Electronic Warfare, Radio Communication, and Situational Awareness), and Regional Forecast, 2020 - 2027,” the market was worth USD 6.14 billion in 2019 and will exhibit a CAGR of 9.54% during the forecast period, 2020-2027.The global tactical data link market size is projected to reach USD 9.88 billion by the end of 2027.
The increasing investment in technological intervention will emerge in favor of market growth.
The increasing emphasis on the R of TDL solutions will open up a huge potential for the companies operating in the market.
The high investment in the product R will create several opportunities for the growth of the tactical data link market in the forthcoming years.
Increasing international disputes among neighboring countries across the world will lead to an increased demand for the product across the world.Asia Pacific is expected to witness the highest growth during the mentioned timeframe.
Moreover, the growing need to strengthen military capabilities owing to an increase in terrorist activities in India is expected to aid the market growth in Asia Pacific.Europe is estimated to hold the second-largest Tactical Data Link market share in 2019 due to the presence of several solution providers in this region, such as Thales Group and Leonardo SpA.
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