The global automatic weapons market is estimated to account to US$ 6.61 Bn in 2018 and is expected to grow at a CAGR of 9.9% during the forecast period 2018 - 2027, to account to US$ 14.95 Bn by 2027. The global automatic weapons market is experiencing steady growth during the forecast period. The increasing military expenditure is owing to the surge the demand of automatic weapons globally. The unstable combating scenario in several countries is driving the advanced technology weapon industry. The governments of different countries are investing heavily in the procurement of automatic weapons to act efficiently during warfare. Thus, there is a positive impact in the growth of automatic weapons market in the current scenario.
A key trend that will prominently affect the automatic weapons market in the coming years is the modernization and enhancement of soldier capabilities.Increasing cross border tension in several countries have led major defense forces worldwide to deploy their troops in the war-prone areas.
The US DoD is among the top defense forces to deploy its armed forces across the globe equipped with highly technological weaponry.Pertaining to this fact, the demand for soldier modernization is highest in the US DoD, which allows the defense authority to invest significant amount in the procurement of automatic weapons.
The increasing investment towards procurement of fully automatic weaponsry and semi-automatic weaponsry intended for soldier modernization is driving the automatic weapons market.
Automatic weapons market by product type is segmented into automatic launchers, automatic rifle, gatling gun, machine gun, and automatic cannon.Automatic rifles holds the highest market share in the automatic weapons market.
Automatic rifles are among the powerful support weapons that feature a higher base damage per shot than any other automatic projectile weapon.The spread of automatic rifles is very poor as compared to their semi-automatic counterparts.
The automatic rifle firearms are increasingly being used by the military sectors across the globe as they offer more flexibility, precision as well as accuracy while shooting.Their portability characteristics differentiates them from the automatic launchers.
Besides, automatic rifles are inexpensive when compared to automatic launchers and are thereby used in large numbers. These factors are expected to enhance the demand of automatic rifles in the automatic weapons market globally.
The overall automatic weapons market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automatic weapons market.
Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automatic weapons industry.
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