Small Arms Market to hit USD 121.8 Billion By 2034

 

 

Report Overview

The Global Small Arms Market size is expected to be worth around USD 121.8 Billion By 2034, from USD 11.7 billion in 2024, growing at a CAGR of 6.6% during the forecast period from 2025 to 2034. In 2024, North America held a dominant market position, capturing more than a 38.2% share, holding USD 4.4 Billion revenue. 

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What are Small Arms?

Small arms are lightweight, hand-held firearms that can be carried and operated by a single person. These include pistols, revolvers, rifles, carbines, shotguns, and submachine guns. Used by military forces, law enforcement, private security agencies, and civilians, small arms serve purposes ranging from defense and law enforcement to sport shooting and hunting. Their portability, precision, and ease of use make them widely favored across different sectors and user groups.

What is the Small Arms Market?

The small arms market refers to the global industry surrounding the manufacturing, distribution, and sales of small-caliber firearms. This market spans military and defense procurement, civilian use, and private security sectors. It’s shaped by geopolitical tensions, crime rates, personal safety concerns, and sporting interest. The market is highly competitive and influenced by international regulations, technological innovation, and shifting consumer behavior.

Top Driving Factors

One of the strongest drivers of this market is the rise in global security threats. Increasing border disputes, civil unrest, and crime rates have pushed governments and individuals alike to prioritize self-protection. Civilian demand has also surged due to growing concerns about personal safety. Another driving force is the modernization programs initiated by defense agencies worldwide to replace old stock with advanced weaponry.