SAN FRANCISCO , July 4, 2022 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled Weapons Manufacturing – Global Market Trajectory & Analytics. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: January 2022
Executive Pool: 5633
Companies: 41 – Players covered include BAE Systems PLC; General Dynamics Corporation; L3 Technologies, Inc.; Leonardo SpA; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Company; Thales Group; The Boeing Company and Others.
Coverage: All major geography and key segments
Segments: Segment (Small Arms, Explosives, Rockets & Mortars, Artillery, Non-Gun Powder Weapons)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of the World.
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Global Weapons Manufacturing Market to Reach $137.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Weapons Manufacturing estimated at US$118.1 Billionis projected to reach a revised size of US$137.5 Billion by 2026, growing at a CAGR of 2.5% over the analysis period. Small Arms, one of the segments analyzed in the report, is projected to record a 3.8% CAGR and reach US$29.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Explosives, Rockets & Mortars segment is readjusted to a revised 1.8% CAGR for the next 7-year period.
The US Market is Estimated at $36 Billion in 2021, While China is Forecast to Reach $24 Billion by 2026
The Weapons Manufacturing market in the US is estimated at US$36 Billion in the year 2021. Chinathe world`s second largest economy, is forecast to reach a projected market size of US$24 Billion by the year 2026 trailing a CAGR of 2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 1.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Artillery Segment to Reach US$40.9 Billion by the year 2026
In the global Artillery segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$27.3 Billion will reach a projected size of US$33.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.