The global handgun market was valued at USD 3.12 billion in 2022 and is projected to grow from USD 3.41 billion in 2023 to USD 5.35 billion by 2030, at a CAGR of 6.6% during the forecast period. North America held the dominant share of 43.27% in 2022, supported by high civilian firearm ownership, strong defense procurement programs, and the presence of key manufacturers such as SIG SAUER, Smith & Wesson, and Glock GmbH.
Handguns, defined as compact firearms designed to be fired with one hand, are widely used for self-defense, law enforcement, sports shooting, hunting, and defense applications. The two most common types are revolvers and semi-automatic pistols, while single-shot handguns and machine pistols remain less prevalent.
The Russia–Ukraine war has significantly accelerated market growth, particularly in Europe, where firearm procurement and defense modernization programs have intensified. NATO members have increased firearm acquisitions for border security and combat readiness. Notably, the EU’s historic decision to procure and supply weapons to Ukraine has further boosted global demand.
According to SIPRI, the U.S. accounted for 40% of global arms exports between 2018–2022, compared with 33% during 2013–2017. Meanwhile, European arms imports surged by 47% over the same period. In May 2022, the U.S. Department of Defense awarded USD 136.8 million in contracts for weapons and equipment in support of Ukraine.
By type, semi-automatic pistols are expected to maintain the largest share due to their popularity in law enforcement, security, and sports.
The rise of polymer-frame handguns is one of the most notable trends. Lighter than traditional metal weapons, polymer models offer durability, corrosion resistance, and easier maneuverability. Leading examples include the Glock-19, Smith & Wesson M&P Shield, Sig Sauer P320, and HK VP9.
For instance, in January 2020, the U.S. Marine Corps awarded a USD 10 million contract to MAC LLC for lightweight polymer-based ammunition, highlighting the military’s shift toward weight-reduction technologies.