Light Weapons Market by Product & Technology expected to be Reach $1.56 Billion by 2019

The "Light Weapons Market [MANPADS , ATGW (Anti-Tank Guided Weapons), Heavy Machine Guns, Mortars , Grenade Launchers, Recoilless Rifles), Technology (Guided and Unguided), Platform (Defence and Homeland Security) by Geography (North America, Europe, Asia-Pacific, the Middle-East, Latin America, ROW)] Forecasts & Analysis to 2014 – 2019" is projected to cross $1.56 billion by 2019, to grow at a CAGR of 2.73% from 2014 to 2019. The light weapons market includes the MANPAD (man-portable air-defense systems), ATGW (anti-tank guided weapons) and unguided weapons markets.

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The global light weapons market can be broadly classified into two categories based on technology: guided and unguided. ATGW and MANPAD are based on guided technologies. In this segment, the market size of ATGW is growing at a very fast pace. The products which come under unguided technology are heavy machine guns, recoilless rifles, and the mortar/grenade launchers. The mortar/grenade launchers market covers a major share of the global unguided light weapons market segment.

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The market is driven by the increasing need for high precision, lightweight, and compact weapon systems. With the evolution of technology, better guided weapons with a high target hit ratio are being designed. A considerable amount of resources are being invested in developing highly sophisticated weapon accessories like weapon sights, night vision devices, aiming lasers, laser rangefinders, and fire control systems.

The driving factor for this market will be the emergent need for safety and security worldwide. The technologically-advanced light weapons with a compact design and high-precision rate shall be the most sought-after products in the coming years. There will be an increased demand of heavy machine guns and recoilless rifles by homeland security forces. This factor shall drive these products to show an increasing demand in the coming years.

The growth for this market will be sluggish in the North American and European regions. The man-portable air defence systems market is expected to grow rapidly over the next 5 years. Significant investments are being made by the countries from the Asia-Pacific, Middle Eastern, and Latin American regions, in the design and development of high-precision weapons will prove to be a prominent driver for the light weapons market. The emerging countries like India, Singapore, and South Korea, will actively be involved in manufacturing firearms, mortars, and grenade launchers.

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