Shoulder Fired Weapons Market Size

Shoulder Fired Weapons Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Shoulder-Fired Weapons Market is poised to grow steadily with a forecast value of $6.2 billion in 2024 and a CAGR of 4.9% from 2024 to 2030. Shoulder-fired weapons systems are expected to experience a robust demand, owing to the rising military budgets and the need for advanced military capabilities. The market is experiencing a shift towards more advanced and versatile weapons systems, which are a must-have for modern warfare. Moreover, several technological advancements are bolstering the growth of the market, such as the integration of smart systems and improved targeting capabilities. Geopolitical tensions and the increasing focus on counterterrorism are driving the demand for shoulder-fired weapons among law enforcement agencies and the military. The leading players, such as Lockheed Martin, Raytheon, and Thales Group, are focusing on launching new products and forming strategic alliances to enhance their market presence and cater to the changing requirements of the defense forces worldwide.

Regional Market Size

Regional Deep Dive

The Shoulder-Fired Weapons Market is characterized by a complex interplay of defense requirements, technological advancements, and the geopolitical situation in the different regions. In North America, the market is driven by high defense budgets and the focus on the modernization of the armed forces. In Europe, increasing security threats are leading to higher defense expenditures. In the Asia-Pacific region, a growing military presence and rising regional tensions are leading to rapid military build-ups. The Middle East and Africa are influenced by the ongoing conflicts and the need for advanced weapons. The Latin American countries are slowly increasing their defense spending, with a focus on their own security threats. Each region presents its own opportunities and challenges, depending on local regulations, cultural factors, and economic conditions.

North America

• In recent years the United States Department of Defense has given a high priority to the development of portable shoulder-fired weapons, which has led to innovations in materials and design by such companies as Raytheon and Lockheed-Martin.
• The regulations of the National Defense Authorization Act, by which the funds for the purchase of new weapons were increased, influenced the procurement of shoulder-fired weapons.
• Asymmetric warfare and the rise of non-state actors have forced the U.S. military to change its strategy and tactics, and the demand for versatile, shoulder-fired weapons has increased.

Europe

• In view of the greater emphasis on the common defence by the European states, the demand for shoulder-fired weapons from Thales and Rheinmetall has increased.
• The European defence policy, and in particular the European Defence Fund, is promoting collaboration between member states in the development of advanced man-portable systems, and thus encouraging innovation and efficiency.
• Consequently, the regulatory framework relating to the export of weapons has been tightened, influencing the market, and encouraging local production to meet the country’s defence needs.

Asia-Pacific

• Countless other countries are now investing heavily in the manufacture of military equipment. Take, for example, India and Japan. They have invested heavily in the establishment of their own defense industries, and companies like DRDO and Mitsubishi Heavy Industries have developed advanced weapons for use in the shoulder-fire mode.
• The disputes over the South China Sea and the tensions with its neighbors have led to a significant increase in military expenditure, which has pushed up the price of hand guns.
• The collaboration between governments and defense contractors is pushing forward technological developments, particularly in the area of smart munitions and targetting systems.

MEA

• During the wars in Syria and Yemen, the need for the shoulder-fired weapons was intensified, and both local and foreign suppliers, such as Beretta and IWI, met the urgent military needs.
• Government programmes for the modernization of armed forces, such as Egypt’s Military Modernization Program, are resulting in an increase in the procurement of advanced systems for man-portable use.
• Culture is also a factor, and the proliferation of armed groups, which makes governments seek to equip their armies with effective tools for counterinsurgency.

Latin America

• During the same period, as the budgets of Brazil and Colombia have increased in the fight against internal terrorism, so have the purchases of weapons from the shoulder.
• Brazil has a partnership with Northrop Grumman to build advanced armaments.
• Governments are investing in new equipment for the security forces, including shoulder-fired systems.

Did You Know?

“The Javelin and Stinger are shoulder-fired missiles which have been decisive in modern warfare. Their high accuracy is due to the Javelin’s automatic aiming system, which gives a hit probability of over ninety per cent.” — U.S. Army and Defense Industry Reports

Segmental Market Size

Armament plays a key role in the security and defence market, which is currently experiencing a high level of demand as a result of continuing military tensions and the modernization of the armed forces. The main trends driving the market are the growing demand from the armed forces for mobile and flexible weapon systems, and the development of new materials and design which have increased performance and reduced weight. Regulations and procurement policies also influence demand, with governments prioritizing the modernization of their armed forces.

In the field of launching weapons, the stage of development has reached a point where the weapon is in widespread use. The United States and Israel lead the way in the integration of advanced weapons, such as the Javelin and the Spike missiles. These are designed primarily for anti-tank warfare, urban warfare and counter-terrorism. The asymmetric war and the need for rapid response are accelerating the development of the market. The development of smart targeting and the use of light composite materials is determining the evolution of the market.

Future Outlook

The market for shoulder-fired weapons will increase from $ 6 billion to $ 8 billion, at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. The growth of this market is supported by the increase in military expenditures of various countries, which are mainly due to the need for increased military capabilities in the context of evolving geopolitical tensions. In the process of modernizing armed forces, the demand for advanced shoulder-fired weapon systems, including anti-tank and anti-aircraft missiles, is expected to increase significantly, which will lead to an increase in the penetration of these weapons into military and paramilitary organizations around the world.

In the future, the market is expected to be characterized by the integration of smart technology and improved target systems. The development of lightweight materials and increased mobility of these weapons will further increase their operational effectiveness and the appeal of these weapons to the armed forces. In addition, policy drivers such as international arms control agreements and defense cooperation will influence the procurement strategy and market dynamics. Emerging trends, such as the increased importance of asymmetric warfare and counter-terrorist operations, will also lead to the continuous demand for shoulder-fired weapons and ensure that this product category remains an important part of modern military arsenals.