With the emergence and long-term Impact of COVID-19, Global Handgun Market to reach USD 5.20 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global points towards a potential rise to USD 5.20 billion by 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.
Geographically, the global Handgun market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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.
The global Handgun market is highly competitive owing to the presence of several key players such as 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, and others.
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Key findings of the study suggest:
- Global Handgun Market is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2023-2030.
- In the Operation segment, Semi-Automatic emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing number of households with firearms in the region.
- Asia Pacific is expected to grow at higher rate owing to growth in cross-border conflicts in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Single-Shot Handguns
- Revolver
By Operation:
- Automatic
- Semi-Automatic
- Manual
By End-User:
- Defense & Homeland Security
- Self-Defense
- Sports
- Hunting
- Law Enforcement
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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