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North America is expected to hold a significant share in the global market for automatic weapons over the forecast period. This can be attributed to the large investments made by the US government to procure the latest automatic firearms for the military. The US army is expected to purchase Next Generation Squad Weapon in 2022 to improve upon the existing M4 carbine and M249 squad automatic weapons. This is expected to have a positive impact on the growth of the market. The new weapons have a lightweight design and have the ability to fire lightweight ammunition along with reduced acoustics and flash signature with improvements in accuracy, range, and lethality. Furthermore, the market is expected to be driven by the presence of leading players in the region and robust demand for advanced automatic weapons from the international market.
Elbit Systems (TLV: ESLT), a leading player in the global market for automatic weapons, recently announced the introduction of the ARCAS in September 2021. ARCAS is a built-in computerised Artificial Intelligence (AI) powered system that interfaces with the rifle’s Electro-Optical (EO) sight to provide soldiers with real-time intuitive, actionable combat information by enhancing lethality, mission effectiveness, and survivability of dismounted soldiers in both day and night. The AI system enables to detect a number of features, including passive range measurement, automatic ballistic correction, detection of fire sources, video motion detection, navigation assistance, and a friend or foe identification, among many other advanced features. Such developments by leading market players are invigorating the growth of the market.
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The major players in the global automatic weapons market are General Dynamics Corporation, Northrop Grumman, Rheinmetall AG, ST Engineering, KBP Instrument Design Bureau, and Heckler & Koch AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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