Rising Defense Expenditures Fuel Growth In The Shoulder-Fired Weapons Market: A Game-Changing Factor in the Shoulder Fired Weapons Market’s Future Growth
The shoulder fired weapons market size is expected to see rapid growth in the next few years. It will grow to $13.21 billion in 2029 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to emerging security threats, shift in military doctrine, urban warfare considerations, upgrades and replacements, international defense collaborations. Major trends in the forecast period include advancements in seeker technologies, rapid development of counter-countermeasure systems, growing interest in non-line-of-sight capabilities, enhanced multi-role capabilities, integration of networking and communication technologies.
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Which major factors have contributed to the expansion of the shoulder fired weapons market?
The increase in defense expenditures is expected to drive the shoulder-fired weapons market. The defense expenditure is increasing to remain in power and secure the position of a country. Armed forces use shoulder-fired weapons throughout the world for defense and safety. The use of shoulder-fired weapons gives a considerable advantage to troops by engaging targets without worrying about the strike's accuracy and the weapon's weight For instance, in April 2024, according to Stockholm International Peace Research Institute, a Sweden-based independent international institute, total global military expenditure reached $2443 billion in 2023, an increase of 6.8 per cent in real terms from 2022. Russia’s military spending increased by 24 per cent to an estimated $109 billion in 2023 compared to 2022. Therefore, an increase in defence expenditure drives the shoulder-fired weapons market.
How is the shoulder fired weapons market segmented?
The shoulder fired weapons market covered in this report is segmented –
1) By Type: Guided, Unguided
2) By Component: Launcher, Ammunition
3) By Application: Defense, Home Security, Others
Subsegments:
1) By Guided: Anti-Tank Guided Missiles (ATGMs), Surface-To-Air Missiles (SAMs), Precision Guided Munitions
2) By Unguided: Rocket-Propelled Grenades (RPGs), Shoulder-Fired Rockets, Mortars
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Who are the top competitors in the shoulder fired weapons market?
Major companies operating in the shoulder fired weapons market include China North Industries Group Corporation, Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, BAE Systems plc, Thales Group, Singapore Technologies Engineering Ltd., Rheinmetall AG, Saab AB, Rafael Advanced Defense Systems Ltd., Poongsan Corporation, John Cockerill, Chemring Group plc, Fabrique Nationale Herstal S.A., Mesko S.A., Bharat Dynamics Limited, Denel Land Systems, JSC Arsenal AD, AirTronic USA LLC, Instalaza S.A., Roket Sanayii ve Ticaret A.S., JSC Konstruktorskoe Buro Priborostroeniya, Giat Industries SASU
Which key trends are expected to influence the shoulder fired weapons market in the coming years?
The development of recoilless artillery is a key trend in the shoulder-fired weapons market. Recoilless weapons are direct-fire weapons differentiated by a method of operation in which propellant gases (or another counter-mass such as powder or liquid) are released from the back of the barrel to balance the recoil caused by the projectile's forward motion. This eliminates the bulky and inconvenient recoil-counteracting equipment of a typical cannon, allowing for a thinner-walled barrel. As a result, it is possible to launch a relatively large projectile from a platform that would otherwise be incapable of carrying the weight or recoil of a comparable-sized conventional cannon. In May 2022, Sweden's military said it would be acquiring a new sort of ammunition for a weapon it already owns, the Carl Gustaf Recoilless Rifle. Carl Gustaf belongs to a heritage of recoilless rifles with hollow tubes for large-caliber explosives that include spiral grooves in the barrel to assist the precision of the shots discharged.
Which regional trends are influencing the shoulder fired weapons market, and which area dominates the industry?
The countries covered in the shoulder fired weapons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Shoulder Fired Weapons Market Report 2025 Offer?
The shoulder fired weapons market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The shoulder fired weapons refer to a weapon that is shot while being held in the hands and having its butt pressed up against a shoulder. Shoulder-fired weapons are portable firearms or missile systems designed to be operated by a single individual who stabilizes and aims the weapon by placing it on their shoulder.
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