The Business Research Company’s Small Arms and Light Weapons Global Market Report 2021: COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 22, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Read More On The Global Small Arms And Light Weapons Market Report: https://www.thebusinessresearchcompany.com/report/small-arms-and-light-weapons-global-market-report
The strict government legislation against possession of firearms is expected to impede the development of the small arms and light weapons market in the coming years. Countries around the world have tightened their weapons laws, making it much more challenging for regular people to own a firearm, as mass shooting events are on the rise. According to the Gun Violence Archive (GVA), there have been over 33,000 reports of criminal attacks executed with firearms in 2019 alone. The Weapons (Amendment) Bill, 2019 specifies that those who use firearms in celebratory gunfire in a reckless or careless manner, risking human life or personal protection of others, are liable for two-year imprisonment or a fine which may extend to $0.0014 million (1 lakh) or with both.
Therefore, the strict government legislation against possession of firearms restraints the growth of the small arms and light weapons market. The countries covered in the global small arms market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The global small arms and light weapons market size is expected to grow from $24.44 billion in 2020 to $25.05 billion in 2021 at a compound annual growth rate (CAGR) of 2.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $31.05 billion in 2025 at a CAGR of 5.5%.
The major players covered in the global small arms and light weapons market are Beretta S.p.A., FN Herstel, Smith & Wesson Holding Corporation, SIG Sauer, Carl Walther GmbH., GLOCK Ges m.b.H, Colt’s Manufacturing Company LLC, Lockheed Martin Corporation, Thales Group, SAAB AB, Glock Ges. m.b.H., Browning Arms Company, Heckler and Koch, Sturm Ruger & Company, Alliant Techsystems.
Small Arms and Light Weapons Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides small arms and light weapons market overview, forecast small arms and light weapons market size and growth for the whole market, small arms and light weapons market segments, and geographies, small arms and light weapons market trends, small arms and light weapons market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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