The global handgun market size was valued at USD 3.12 billion in 2022 and is expected to be worth USD 3.41 billion in 2023. The market is projected to reach USD 5.35 billion by 2030, recording a CAGR of 6.6% during the forecast period.
A handgun is a small firearm that can fire a single round or bullet and is majorly used for activities, such as hunting, target shooting, and self-defense. The two of the most commonly used handguns include a semi-automatic pistol and a revolver. Factors, such as rising border conflicts, personal security threats, and growing investments in the defense sector are expected to bolster market growth.
Fortune Business Insights™ displays this information in a report titled, "Handgun Market, 2023-2030."
Russia-Ukraine War Impact:
Strong Growth in Procurement of Weapons Boosts Market Growth Due to Russia-Ukraine War
The ongoing Russia-Ukraine war has created a positive impact on the market forecast as the arms markets in Europe and the U.S. witnessed a strong growth. Many weapon and ammunition manufacturers also saw a major rise in their revenue margins as the demand for their products from both the countries increased considerably. This scenario further accelerated the market progress.
List of Key Companies Profiled In the Report:
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