(2020 - 2023) Global Shoulder-Fired Weapons Market - CAGR Status, Industry Analysis, Trends, and Forecast

Shoulder-Fired Weapons Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Shoulder-Fired Weapons market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Shoulder-Fired Weapons Market report is anticipated to register a CAGR of 5.5% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Shoulder-Fired Weapons Market are –

  • Raytheon CompanySaab AB MBDA Rafael Advanced Defense Systems Ltd AirTronic USA
  • LLC Bazalt JSC KBM Lockheed Martin Corporation Thales Group ADS
  • Inc. Bharat Dynamics Limited (BDL) NORINCO LIG Nex1

The market for shoulder-fired weapons is anticipated to grow at a CAGR of over 5.5% during the forecast period. Growth in the defense budget to counter terrorist activities will drive the shoulder-fired weapons market in the coming years.

Shoulder fired weapons can be classified as anti-aircraft and anti-tank that uses a launcher to shoot the warhead at the target. These weapons, of the guided as well as the unguided variety, are highly effective against intended targets. Unlike other missile systems that are bulky and require operational expertise, shoulder-fired weapons are relatively small and can be carried by a single person and operated efficiently with much less level of training needed.

Shoulder-fired anti-tank weapons give the foot soldier the ability to assault armored vehicles. Currently, there are two main types of shoulder-fired Anti-Tank (AT) systems: reloadable and disposable. The reloadable systems are modern variations on recoilless rifle technology. With the advancement in armored vehicle protection, especially that of MBTs, the shoulder-fired weapons are facing new challenges. However, the unguided shoulder-fired weapons are cheaper compared to guided weapons and are useful against personnel entrenched in cave complexes as well as combatants hidden in buildings and fortification in urban areas. Unguided shoulder-fired weapons have been a part of several infantries across the globe for years. However, they are being replaced by the advanced guided shoulder weapons that are highly accurate. Some of the unguided shoulder-fired weapons are RPG-29, RPG-7VLT, RPG-27, RPG-28, AT-4, SMAW, WASP 58, Panzerfaust Pzf3-IT among others.

Market Dynamics
It has been observed in several instances that the troops who operate shoulder-fired weapons have suffered from concussions and brain injuries. Few companies are developing a light-assault weapon that eliminates the back-blast danger. For instance, using STRIX propulsion technology, Nammo’s M72FFE enables operators to fire large caliber or anti-armor warheads safely. The new system suppresses noise levels and night signatures to make it difficult for the enemy to detect the location of release. The military is also looking for a new type of helmet that can protect the soldier’s brain from blast waves.

The development of new weapons is directly proportional to the demand which depends on the defense spending of every nation. The US, China, Saudi Arabia, Russia, India, France, the United Kingdom, Japan, Germany, South Korea are among the top defense spending countries worldwide in 2017. United States recorded the highest military spending of USD 610 billion in 2017 followed by China with a military expenditure of USD 228 billion. Most of the countries in the Asia Pacific region have significantly increased their defense spending in the past decade with massive investment towards the procurement of advanced weapons. The Indian Army in a recent study has revealed that it lacks 68,000 anti-tank guided missiles of various types and around 850 launchers. The Army plans to procure about 2,500 third-generation shoulder-fired ATGMs and 96 launchers through a government-government contract. Israeli Spike ATGM and the FGM-148 Javelin ATGM are the weapon systems under consideration.

The growing demand for lightweight anti-armor weapons is encouraging vast developments in the areas of weapon design. Such trends will remain key forces guiding the development of the shoulder-fired weapons in the coming years.

Regional Insights
North America dominates the market in 2017; however, Asia Pacific is expected to register the highest CAGR during the forecast period. This is mainly due to growing terrorist activities and political tensions among some of the countries in the Asia Pacific region. The United States dominates and accounts for a significant share in the North America shoulder-fired weapons market in 2017. However, regarding market share, it is anticipated that North America will lose some of its share to Asia-Pacific and Middle East region.

Major Players:
Raytheon Company, Saab AB, MBDA, Lockheed Martin Corporation, and NORINCO among others.

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Scope of the Report:

The report analyses Shoulder-Fired Weapons market, which includes –

  • Analysis of the growth of Shoulder-Fired Weapons market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Shoulder-Fired Weapons market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Shoulder-Fired Weapons market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Shoulder-Fired Weapons market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Shoulder-Fired Weapons Market Report:

  • Varying dynamics of the Shoulder-Fired Weapons industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Shoulder-Fired Weapons market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Shoulder-Fired Weapons market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Shoulder-Fired Weapons Market Report:

  • The report analyses how stringent emission control norms will drive the global Shoulder-Fired Weapons market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Shoulder-Fired Weapons market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Shoulder-Fired Weapons:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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