The global shoulder fired weapons market size was USD 6,224.6 million in 2019 and is projected to grow from USD 5,303.4 million in 2020 to USD 7,836.8 million in 2027 at a CAGR of 5.74% in the forecast period.
The global Shoulder-Fired Weapons market is witnessing dynamic growth, driven by evolving security challenges and the modernization of military arsenals worldwide. This market encompasses a diverse array of portable anti-aircraft and anti-tank weapons that are shoulder-mounted, offering maneuverability and flexibility on the battlefield.
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Key Players: Leading the charge in this competitive landscape are key players such as
Segmentation: The Shoulder-Fired Weapons market is segmented based on the type of weapons and their applications. Common segments include Man-Portable Air-Defense Systems (MANPADS) for anti-aircraft purposes and Anti-Tank Guided Missiles (ATGM) for armored vehicle targets. The market also includes disposable and reloadable systems, each tailored to specific operational requirements.
Driving Factors: Several factors are propelling the growth of the Shoulder-Fired Weapons market:
Regional Analysis: The market's growth is distributed globally, with North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa playing pivotal roles. North America and Europe dominate due to high defense budgets and technological advancements. The Asia-Pacific region is emerging as a significant market player, driven by increased defense spending and the modernization of military forces.
Industry Trends: Recent trends in the Shoulder-Fired Weapons market include:
As the geopolitical landscape evolves and defense strategies adapt, the Shoulder-Fired Weapons market is expected to witness sustained growth, with key players shaping the future of portable weaponry through innovation and strategic partnerships.