The global automatic weapons market size was valued at USD 8.09 billion in 2022 and is expected to be worth USD 8.62 billion in 2023. The market is projected to reach USD 13.83 billion by 2030, recording a CAGR of 7% during the forecast period.

Automatic weapons refer to a combination of semi-automatic and fully automatic firearms that can be fired continuously once the trigger is pulled hard or when there is ample ammunition in their chamber. Rising cross-border tensions among countries across the world has greatly increased the demand for innovative weapons. Many economies are boosting their investments in the development of advanced weapons due to war-like scenarios, thereby enhancing the global automatic weapons market growth.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• BAE Systems (U.K.)
• Denel Land Systems (South Africa)
• FN Herstal (U.K.)
• General Dynamics Corporation (U.S.)
• Kalashnikov Concern (Russia)
• KBP Instrument Design Bureau (Russia)
• Northrop Grumman Corporation. (U.S.)
• Rheinmetall AG (Germany)
• ST Engineering (Singapore)
• Israel Weapon Industries (IWI) (Israel)

Source:

https://www.fortunebusinessinsights.com/automatic-weapons-market-103524

Segmentation:

Growing Need for Automatic Rifles from Many Armed Forces to Expand Market Size

Based on product, the market is segmented into automatic rifles, machine guns, automatic launchers, automatic cannons, and Gatling guns. The automatic rifle segment is set to capture a dominant automatic weapons market share during the forecast period as the demand for these weapons is rising at a robust pace among several armed forces.

Rising Demand for Semi-Automatic Weapons in Different Countries to Boost Market Growth