According to Fortune Business Insights™, the global light weapons market size was valued at USD 12.61 billion in 2019 and is projected to grow from USD 13.23 billion in 2020 to USD 25.61 billion by 2032, exhibiting a CAGR of 5.60% during the forecast period. The growth is primarily driven by increasing demand for portable and crew-served weapon systems used in combat and naval missions, alongside rising global defense expenditures.

North America accounted for the largest market share of 44.96% in 2019, backed by high military budgets, the presence of leading OEMs, and large-scale procurement programs from the U.S. and Canadian defense sectors.

Light Weapons Market Overview

Light weapons are typically designed for use by two or more personnel as a crew. These systems include a wide array of armaments such as heavy machine guns, recoilless rifles, grenade launchers, mortars (under 100mm), MANPADS (man-portable air-defense systems), MANPATS (man-portable anti-tank systems), landmines, and light anti-aircraft missile systems. They are extensively deployed by armed forces for tactical flexibility in various combat scenarios.

Key Companies Covered

• ARSENAL (Bulgaria)
• BAE Systems (U.K.)
• FN HERSTAL (Belgium)
• General Dynamics Corporation (U.S.)
• Heckler & Koch GmbH (Germany)
• Lockheed Martin Corporation (U.S.)
• Northrop Grumman Corporation (U.S.)
• Raytheon Technologies Corporation (U.S.)
• Rheinmetall AG (Germany)
• Saab AB (Sweden)
• Thales Group (France)

Source:

https://www.fortunebusinessinsights.com/light-weapons-market-103529