From GlobeNewswire: 2024-11-21 11:08:00

The Automatic Weapons Market is set to reach USD 18.69 billion by 2031, growing at a CAGR of 7.21% from 2024. The demand for automatic weapons is rising due to increased military spending and the need for technologically advanced weaponry. Companies are adopting 3D printing and robotics in weapon development to enhance capabilities.

The automatic rifle segment is expected to dominate the market with over 30% share, favored for their selective fire and lightweight features. Fully automatic weapons are currently leading the market, offering continuous fire capabilities. Small caliber automatic weapons are popular for their mobility and compact design, holding the largest market share in this segment.

North America currently holds the largest share in the automatic weapons market and is projected to remain dominant due to heavy investments in defense research and new weapon procurements. Major players in the industry include Lockheed Martin, Northrop Grumman, FN Herstal, and others, with increasing geopolitical tensions expected to drive new contracts.

The Space Economy Market is expected to grow at a CAGR of 11.5% from 2023 to 2030, reaching USD 1,110.84 billion. Inboard Engines Market is forecasted to grow at a CAGR of 6.4% from 2024 to 2031, reaching USD 3.01 billion. CoherentMI provides comprehensive market intelligence and strategic solutions to empower businesses worldwide.



Read more at GlobeNewswire: Automatic Weapons Market Size to Hit USD 18.69 Billion by