Description
Assault Weapons are semi-automatic rifles, pistols, and other detachable firearms which are used during warfare. The weapons make use of an intermediate power cartridge which is typically designed for individual use. On a global scale, North America is recorded to be the largest market for Assault weapons. This is predominantly due to the presence of the US within this region. The firearms manufacturing industry recorded an all-time high in the year 2016 within the US with roughly 11.5 Million firearms manufactured. On making a year-on-year comparison, it is seen that the manufacturing value for the firearms market reduced by a value of 28% and 25% in the years 2017 and 2018. The historic data for the production of firearms within the US indicates that roughly 851,00 assault weapons were produced between the period 1986-2009. The production value increased to over 3.4 Million between the period 2010-2018.
The overall market for assault weapons is segmented by Type, Region, and Application. The type segment is further sub-segmented into automatic, semi-automatic, and manual. The regional segment provides a competitive mapping across North America, Europe, APAC, the Middle East, and the RoW. The application segment includes Defense, Commercial, and Others.
Europe is regarded to be another key market within the assault weapons vertical. The number of firearms licenses in the Czech Republic is expected to increase by a value of roughly 0.63% in the year 2021. Approximately a quarter of a million people are presently permitted to carry small arms. The number of licensed gun holders within this country is expected to reach 307.372 in the year 2020.
As of 2020, the Hungarian gun purchases increased owing to the fear induced by the pandemic. Tensions caused due to the pandemic induced nerves amongst the common population which hereafter boosted the number of gun purchases within this country. The requirement for additional private safety is one of the key factors that support the burgeoning growth associated with this market.
Growth in the number of licensed gun manufacturers is expected to be one of the key drivers for this market. For instance, the US gun manufacturing industry witnessed a growth in production by a value of 255% between 2009 and 2018. As of 2018, the number of licensed firearms manufacturers within the US was recorded to be 12,600. The growth in the destructive devices and firearms industry was noticed to be the largest for Texas followed by Florida within the US.
Political and Legislative issues are some of the key market restraints faced by the Assault Weapons vertical. Some of the prominent support control groups that support the levy of restrictions on gun control groups include Brady Campaign, and the Coalition to Stop the gun campaign. The introduction of such legislative measures is primarily to ensure civilian safety against unauthorized use of weaponry within the US. Contrarily the growth in the number of members for associations like the National Rifles Association and the Gun Owners Association in America is expected to boost the market growth. Both these organizations are pro assault weapons and are against the bans imposed on them.
The growth in technological advancements within the assault weapons market is another driver for this segment. The introduction of assault rifles like HK433 is expected to aid firepower and personal protection. This firearm is manufactured by the German company, Heckler Koch. The HK433 provides maximum functional reliability and modularity combined with intuitive handling.
The introduction of firearms like M27 is expected to redefine the combat abilities of the Marine Corps Infantry. The use of these munitions is expected to enhance the firepower and tactical capabilities of the marine corps. The M27 is presently expected to replace the M4 standard-issue rifle for the Marine Corps Infantry. Non-Marine corps are anticipated to continue the usage of M4 rifles for the foreseeable future. On making a comparative study, it is seen that the M27 rifle provides a range advantage over the traditionally employed carbine. The barrel for M27 is thicker and can fire for longer ranges before overheating as opposed to the M4 barrel. The M27 barrel can fire roughly 36 rounds before overheating. Therefore, the rifle barrel is longer in the case of M27 as compared to the M4.
Conclusively, the overall assault munitions market is expected to grow with a CAGR of 7-8% between the forecast period 2020-2030. The overall growth in trends within this market is expected to be prominently due to the exceeding number of firearm users within the civilian segment. The growth in everyday threats is anticipated to be one of the primary drivers to the same. The requirement for enhanced personal protection and safety due to the growth animosity amongst the general population is poised to drive the demand within this vertical.
