Small Arms Market to hit USD 121.8 Billion By 2034

Report Overview

The Global Small Arms Market size is expected to be worth around USD 121.8 Billion By 2034, from USD 11.7 billion in 2024, growing at a CAGR of 6.6% during the forecast period from 2025 to 2034. In 2024, North America held a dominant market position, capturing more than a 38.2% share, holding USD 4.4 Billion revenue.

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What Are Small Arms?

Small arms are lightweight, individual-use weapons designed primarily for personal defense, law enforcement, or military combat. These include handguns (pistols and revolvers), rifles, carbines, shotguns, and submachine guns. Typically, small arms are used by infantry soldiers, police officers, private security personnel, and even civilians in some regions for self-defense or sport shooting. Unlike heavy artillery or crew-operated weapons, small arms are portable, easy to operate, and highly effective in close to mid-range combat situations.

Top Driving Factors

Several key elements are pushing the market forward:

Rising defense budgets, particularly in developing economies.

Increased civilian ownership of firearms for personal protection.

Modernization of police forces globally.

Terrorism and border conflicts, which are increasing the need for rapid-response firearms.

These factors, especially in high-risk areas, are prompting governments and private security firms to invest in modern small arms systems.