Edit Content

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Handgun Market to reach USD 5.20 billion by the end of 2030

Global Handgun Market Size study & Forecast, by Type (Single-Shot Handguns, Revolvers), by Operation (Automatic, Semi-Automatic, Manual), by End-User (Defense & Homeland Security, Self-Defense, Sports, Hunting, Law Enforcement) and Regional Analysis, 2023-2030

Product Code: SSAD-39729102
Publish Date: 29-02-2024
Page: 200

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:
Ø 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.
Ø 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.
Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Operation, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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

By Operation:

By End-User:
Defense & Homeland Security
Law Enforcement

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Handgun Market, by Region, 2020-2030 (USD Billion)
1.2.2. Handgun Market, by Type, 2020-2030 (USD Billion)
1.2.3. Handgun Market, by Operation, 2020-2030 (USD Billion)
1.2.4. Handgun Market, by End-User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Handgun Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Handgun Market Dynamics
3.1. Handgun Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing technological advancements Rise in crime and terrorism globally Growing demand from global militaries
3.1.2. Market Challenges Stringent regulatory compliances
3.1.3. Market Opportunities Rise in personal safety and security concerns Growing geopolitical tensions
Chapter 4. Global Handgun Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Handgun Market, by Type
5.1. Market Snapshot
5.2. Global Handgun Market by Type, Performance – Potential Analysis
5.3. Global Handgun Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Handgun Market, Sub Segment Analysis
5.4.1. Single-Shot Handguns
5.4.2. Revolver
Chapter 6. Global Handgun Market, by Operation
6.1. Market Snapshot
6.2. Global Handgun Market by Operation, Performance – Potential Analysis
6.3. Global Handgun Market Estimates & Forecasts by Operation 2020-2030 (USD Billion)
6.4. Handgun Market, Sub Segment Analysis
6.4.1. Automatic
6.4.2. Semi-Automatic
6.4.3. Manual
Chapter 7. Global Handgun Market, by End-User
7.1. Market Snapshot
7.2. Global Handgun Market by End-User, Performance – Potential Analysis
7.3. Global Handgun Market Estimates & Forecasts by End-User 2020-2030 (USD Billion)
7.4. Handgun Market, Sub Segment Analysis
7.4.1. Defense & Homeland Security
7.4.2. Self-Defense
7.4.3. Sports
7.4.4. Hunting
7.4.5. Law Enforcement
Chapter 8. Global Handgun Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Handgun Market, Regional Market Snapshot
8.4. North America Handgun Market
8.4.1. U.S. Handgun Market Type breakdown estimates & forecasts, 2020-2030 Operation breakdown estimates & forecasts, 2020-2030 End-User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Handgun Market
8.5. Europe Handgun Market Snapshot
8.5.1. U.K. Handgun Market
8.5.2. Germany Handgun Market
8.5.3. France Handgun Market
8.5.4. Spain Handgun Market
8.5.5. Italy Handgun Market
8.5.6. Rest of Europe Handgun Market
8.6. Asia-Pacific Handgun Market Snapshot
8.6.1. China Handgun Market
8.6.2. India Handgun Market
8.6.3. Japan Handgun Market
8.6.4. Australia Handgun Market
8.6.5. South Korea Handgun Market
8.6.6. Rest of Asia Pacific Handgun Market
8.7. Latin America Handgun Market Snapshot
8.7.1. Brazil Handgun Market
8.7.2. Mexico Handgun Market
8.8. Middle East & Africa Handgun Market
8.8.1. Saudi Arabia Handgun Market
8.8.2. South Africa Handgun Market
8.8.3. Rest of Middle East & Africa Handgun Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Glock GmbH Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. SIG Sauer
9.3.3. Sturm, Ruger & Co., Inc.
9.3.4. FN Hestral
9.3.5. Israel Weapon Industries
9.3.6. Fabbrica d’Armi Pietro Beretta SpA
9.3.7. Colt’s Manufacturing Company LLC
9.3.8. Smith & Wesson
9.3.9. Heckler & Koch GmbH
9.3.10. Kalashnikov Group
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now