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Global Handgun Market Size study & Forecast, by Type, by Operation, by End-User and Regional Analysis, 2023-2030

Global Handgun Market Size study & Forecast, by Type, by...

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Global Handgun Market Size study & Forecast, by Type, by Operation, by End-User and Regional Analysis, 2023-2030
Global Handgun Market Size study...
Report Code
RO2/103/1210

Publish Date
03/Apr/2024

Pages
200
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Global Handgun Market is valued at approximately USD 3.12 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.6% during the forecast period 2023-2030. A handgun is a compact firearm designed to be held and operated with one hand. It typically features a shorter barrel compared to larger firearms such as rifles or shotguns, and it is commonly used for self-defense, law enforcement, military applications, and sport shooting. The Handgun Market is expanding because of factors such as growing technological advancements, a rise in crime and terrorism globally and growing demand from global militaries.

As geopolitical tensions persist and security concerns intensify in various regions around the world, governments, military forces, and law enforcement agencies increasingly prioritize the procurement of firearms, including handguns, to bolster defense capabilities and maintain law and order. Moreover, the surge in global arms trade reflects this heightened demand, driven by a multitude of factors such as geopolitical rivalries, territorial disputes, and counterterrorism efforts. According to the Stockholm International Peace Research Institute (SIPRI) in 2023, there was a 47 %increase in the imports of major arms by European states between 2013-17 and 2018-22. During the same period, imports to East Asia and certain states in other areas of high geopolitical tension experienced significant rises. The United States' share of global arms exports increased from 33 to 40%, while Russia's decreased from 22% to 16%. Additionally, Ukraine emerged as the world's third-largest importer of firearms in 2023, as reported by the same study. Furthermore, due to rising concerns about personal safety and security continuing to grow worldwide, civilians increasingly seek firearms for self-defense purposes and recreational shooting activities. This heightened demand reflects a broader societal trend towards individual empowerment and preparedness in the face of perceived threats, ranging from home invasions to instances of violent crime. However, stringent regulatory compliances stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Handgun Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as a high defense budget, an increasing number of households with firearms in the region, the presence of major suppliers of arms and weapons and a rise in overall military personnel present in the region. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as growth in cross-border conflicts, increasing spending on defense infrastructure, and a rise in terrorism activities.

Major market player included in this report are:
Glock GmbH
SIG Sauer
Sturm, Ruger & Co., Inc.
FN Hestral
Israel Weapon Industries
Fabbrica d'Armi Pietro Beretta SpA
Colt's Manufacturing Company LLC
Smith & Wesson
Heckler & Koch GmbH
Kalashnikov Group
Recent Developments in the Market:
In July 2023, The Australian federal government granted a multi-million-dollar contract to a Queensland-based company for the procurement and delivery of a next-generation of small arms to the Australian Defense Force (ADF). This contract was part of a USD 500 million pledge aimed at outfitting Australia's soldiers, marines, and air force with cutting-edge lethal weapons systems.
In Aug 2023, India's state-owned company, Advanced Weapons and Equipment India Limited (AWEIL), unveiled a long-range revolver named 'Prabal'. The Prabal revolver offers a firing range of up to 50 meters, which is more than double that of other Indian revolvers on the market.
In October 2022, MD Charlton (MDC), a Canadian distributor of tactical equipment, received a contract to supply the C22 full-frame modular pistol (Sig Sauer P320) and holster system. The initial contract was valued at USD 3.2 million, with additional options that, if activated, could increase its worth to USD 7.6 million. The agreement also encompassed the provision of spares and training for operators and maintenance personnel. Initially, the contract enabled the Canadian Army to acquire 7,000 pistols and holster systems.
Global Handgun Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Operation, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Single-Shot Handguns
Revolver
By Operation:
Automatic
Semi-Automatic
Manual
By End-User:
Defense & Homeland Security
Self-Defense
Sports
Hunting
Law Enforcement
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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