Light Weapons Market Size, Trends, Opportunities, Forecast, 2024–2032

According to Fortune Business Insights™, the global light weapons market size was valued at USD 12.61 billion in 2019 and is projected to grow from USD 13.23 billion in 2020 to USD 25.61 billion by 2032, exhibiting a CAGR of 5.60% during the forecast period. The growth is primarily driven by increasing demand for portable and crew-served weapon systems used in combat and naval missions, alongside rising global defense expenditures.

North America accounted for the largest market share of 44.96% in 2019, backed by high military budgets, the presence of leading OEMs, and large-scale procurement programs from the U.S. and Canadian defense sectors.

Light Weapons Market Overview

Light weapons are typically designed for use by two or more personnel as a crew. These systems include a wide array of armaments such as heavy machine guns, recoilless rifles, grenade launchers, mortars (under 100mm), MANPADS (man-portable air-defense systems), MANPATS (man-portable anti-tank systems), landmines, and light anti-aircraft missile systems. They are extensively deployed by armed forces for tactical flexibility in various combat scenarios.

Key Companies Covered

• ARSENAL (Bulgaria)

• BAE Systems (U.K.)

• FN HERSTAL (Belgium)

• General Dynamics Corporation (U.S.)

• Heckler & Koch GmbH (Germany)

• Lockheed Martin Corporation (U.S.)

• Northrop Grumman Corporation (U.S.)

• Raytheon Technologies Corporation (U.S.)

• Rheinmetall AG (Germany)

• Saab AB (Sweden)

• Thales Group (France)

Source:

https://www.fortunebusinessinsights.com/light-weapons-market-103529

Market Segmentation

By Type:The market is categorized into heavy machine guns, recoilless rifles, anti-tank weapons, anti-aircraft missiles, light cannons, MANPAD, MANPAT, infantry mortars, grenades, launchers, and landmines. Among these, the anti-tank weapons segment is expected to grow significantly during the forecast period. This growth is driven by the changing nature of warfare and increased deployment of portable anti-armor systems by ground forces. In 2019, grenade launchers held a major share of the market, supported by strong demand from military forces and growing defense contracts tied to modernization programs.

By Guidance:The market is segmented into guided and unguided weapons. The guided segment held the largest market share and is anticipated to maintain its dominance through 2025. This is due to the increasing demand for precision-guided systems such as MANPADS and anti-tank missiles, which offer greater accuracy and extended range. Guided weapons are becoming increasingly important in modern combat operations. By 2025, this segment is expected to account for approximately 59% of the total market. Meanwhile, the unguided segment, which includes heavy machine guns, recoilless rifles, and grenade launchers, is also poised for steady growth owing to its affordability, durability, and suitability for short-range combat.

By Application:The light weapons market is divided into defense and homeland security applications. The defense segment leads the market and is projected to retain its dominance during the forecast period. This is primarily due to increasing global military spending, ongoing modernization efforts, and the steady procurement of advanced light weapons for armed forces. The segment is projected to generate USD 11.57 million in revenue by 2025. On the other hand, the homeland security segment is expected to grow steadily, driven by the rising threat of terrorism, civil unrest, and the need for advanced tactical weaponry in law enforcement operations.

Market Drivers

1. Widespread Availability and Cost Efficiency

Light weapons are widely accessible from various global manufacturers and offer cost-effective solutions for military operations. Their portability, ease of use, and low maintenance requirements make them ideal for both defense and paramilitary applications.

2. Rising Terrorism and Geopolitical Conflicts

An upsurge in terrorism, cross-border skirmishes, and political instability is fueling the demand for lightweight, deployable weapons systems. Increased investments in border security and tactical weaponry further stimulate market growth.

3. Ongoing Military Modernization Initiatives

Countries are upgrading their military capabilities by procuring advanced light weapons equipped with guided systems and enhanced targeting technologies. This trend is accelerating market expansion globally.

Market Restraints

Stringent Regulatory Frameworks

Tight weapon control laws and complex licensing procedures in countries like the U.S., Canada, Australia, and Israel are restricting civilian and commercial use. These regulatory challenges may hinder overall market growth, especially in non-conflict zones.

Latest Trends

Adoption of Precision-Guided Technologies

The integration of laser targeting, head-up display (HUD) systems, and smart tracking mechanisms into small-caliber weapons is a key emerging trend. Defense manufacturers are heavily investing in R&D to develop more precise and efficient systems for modern warfare.

Regional Insights

North America (Market Size: USD 5.67 Billion in 2019)

• Dominance led by U.S. defense expenditure and major OEM presence.

• Advanced military technologies and frequent procurement contracts drive market leadership.

Asia Pacific

• Rapid growth supported by increasing defense budgets in India, China, and South Asia.

• India allocated USD 18.52 billion for arms procurement in 2020–2021, reflecting strong investment in modernization.

Europe

• Home to prominent defense manufacturers like Saab AB, Thales Group, and Rheinmetall AG.

• Market expected to grow at a CAGR of 5.08% due to robust military expansions in the U.K., Germany, and Russia.

Middle East & Africa

• Rising defense expenditure in Saudi Arabia, Israel, and Turkey drives growth.

• Adoption of modern warfare technologies and increased arms procurement bolster regional expansion.

Rest of the World

• Witnessing gradual growth due to modernization programs and increased defense spending in Latin America and Southeast Asia.

Key Industry Developments

• January 2021 – Bharat Electronics Limited (BEL) signed a contract with the Indian Navy to supply laser dazzlers, enhancing naval defense capabilities.

• September 2020 – Lockheed Martin Corporation secured a USD 183 million contract from the U.S. Army for mobile rocket launcher systems and 28 high-mobility artillery systems.