Table of Contents
Introduction
The Global Shoulder-Fired Weapons Market is projected to experience steady growth, reaching USD 17.50 billion by 2034, up from USD 9.68 billion in 2024, with a CAGR of 6.1% during the forecast period. Shoulder-fired weapons, including rocket-propelled grenades (RPGs) and portable missile systems, are essential in modern defense strategies, offering flexibility and ease of use in combat situations.
In 2024, Asia Pacific dominates the market with a 32.1% share, generating USD 3.10 billion in revenue. The region’s significant market share is driven by increased military spending and advancements in defense technology.
How Growth is Impacting the Economy
The growth of the shoulder-fired weapons market is having a notable impact on the global defense economy. As governments increase their defense budgets, particularly in regions like Asia Pacific, the demand for advanced, portable weaponry is rising. This growth supports industries involved in manufacturing, research and development (R&D), and defense procurement.
Additionally, the rise of modern warfare tactics, where shoulder-fired weapons play a crucial role, is contributing to the expansion of defense contracts and defense-related technology advancements. Increased military spending is also creating more jobs in defense manufacturing, R&D, logistics, and service industries. Furthermore, as the global security landscape continues to evolve, the demand for more versatile, cost-effective, and easily deployable weapons is expected to grow, contributing to long-term economic growth in defense sectors.
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Impact on Global Businesses
Rising Costs & Supply Chain Shifts
As demand for shoulder-fired weapons rises, businesses involved in their production are facing higher costs due to the complexity of materials, technology, and logistics involved in manufacturing advanced defense systems. The development of more advanced and precise systems also drives up R&D costs. Additionally, companies need to navigate the global supply chain complexities to meet international demand, especially for countries with evolving defense needs. However, the long-term benefits include increased military contracts and international partnerships, making the market highly lucrative for defense companies.
Sector-Specific Impacts
In the defense and security sector, the demand for shoulder-fired weapons is growing due to the increasing need for lightweight, high-impact, and portable weaponry in modern combat scenarios. Military contractors and defense manufacturers are capitalizing on this trend by developing more advanced systems with improved targeting accuracy and payload capacity. The technology sector is also benefiting, as innovations in guidance systems, smart munitions, and lightweight materials contribute to the development of next-generation weapons.
Strategies for Businesses
To capitalize on the growing shoulder-fired weapons market, businesses should focus on the following strategies:
- Invest in R&D to develop more advanced and cost-effective shoulder-fired weapon systems with enhanced performance.
- Expand into emerging markets, especially in regions like Asia Pacific, where defense spending is on the rise.
- Develop partnerships with governments and military agencies to secure defense contracts and access funding for technology innovations.
- Improve supply chain efficiency to meet increasing demand and ensure timely delivery of weapons to international customers.
- Leverage AI and precision targeting to enhance the accuracy and effectiveness of shoulder-fired systems.
Key Takeaways
- The shoulder-fired weapons market is projected to reach USD 17.50 billion by 2034, growing from USD 9.68 billion in 2024.
- Asia Pacific dominates with 32.1% market share and USD 3.10 billion in revenue in 2024.
- The defense, security, and technology sectors are key drivers of market growth.
- R&D investments, international expansion, and AI advancements will help businesses stay competitive.
- The market for shoulder-fired weapons is becoming more advanced, cost-effective, and versatile.
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Analyst Viewpoint
Present View:
The shoulder-fired weapons market is currently expanding due to increased military investments in regions such as Asia Pacific. With rising geopolitical tensions and the need for more advanced and versatile defense systems, the demand for these weapons is projected to increase.
Future Positive View:
Looking ahead, the market for shoulder-fired weapons is expected to continue growing, driven by innovations in AI, smart munitions, and lightweight materials. As modern warfare becomes more complex and dynamic, the need for more efficient and powerful portable weaponry will increase, providing a positive outlook for the market.
Use Case and Growth Factors
| Use Case | Growth Factor |
|---|---|
| Military Combat | Increased need for portable, high-impact weaponry in modern warfare |
| Counter-Terrorism | Rising demand for easily deployable, effective weapons for security forces |
| Peacekeeping Operations | Need for non-traditional weapons for deployment in sensitive regions |
| Military Training & Simulations | Use of advanced weaponry for realistic training environments |
| Defense Contractors | Increased contracts and funding from governments and military agencies |
Regional Analysis
Asia Pacific is the dominant market for shoulder-fired weapons, accounting for 32.1% of the market share and USD 3.10 billion in revenue in 2024. The region’s dominance is attributed to heightened military spending and strategic defense initiatives. North America is another major player, driven by strong demand from defense contractors and government investments in advanced technologies. Europe also shows steady growth, with rising concerns over regional security and defense modernization. Latin America and the Middle East & Africa (MEA) are emerging markets, driven by local defense needs and increasing military budgets.
Business Opportunities
The shoulder-fired weapons market presents significant business opportunities for companies in the defense sector, particularly in the areas of advanced materials, AI technologies, and military contracting. Businesses can innovate by creating more efficient, portable, and customizable weapons that cater to both military and law enforcement agencies. Companies can also expand into emerging markets like Asia Pacific and the Middle East & Africa, where defense budgets are on the rise and demand for modern weapons is increasing. Developing partnerships with government agencies and international defense contractors can open the door to lucrative contracts and global expansion.
Key Segmentation
The global shoulder-fired weapons market is segmented by:
- Type: Rocket-propelled Grenades (RPGs), Portable Missiles, Others.
- Application: Military Combat, Counter-Terrorism, Peacekeeping, Training, Others.
- End-User: Defense Contractors, Government Agencies, Military Units, Law Enforcement, Others.
- Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
These segments highlight the growing diversity of applications and markets for shoulder-fired weapons, providing businesses with opportunities for innovation and expansion in both developed and emerging regions.
Key Player Analysis
Key players in the shoulder-fired weapons market are focusing on technology development, such as AI-powered targeting systems, lightweight materials, and precision-guided munitions. Companies are also forging partnerships with military agencies to secure government contracts for next-generation shoulder-fired weapons. There is a growing emphasis on research and development in smart munitions and innovative launch platforms to enhance the effectiveness and usability of shoulder-fired systems.
Top Key Players in the Market
- General Dynamics Corporation
- Rafael Advanced Defense Systems Ltd.
- Rheinmetall AG
- Roketsan A.Ş.
- Bharat Dynamics Ltd.
- AirTronic USA LLC
- Northrop Grumman Corporation
- Kongsberg Gruppen ASA
- Saab AB
- Lockheed Martin Corporation
- RTX Corporation
- MBDA
- BAE Systems plc
- Israel Aerospace Industries Ltd.
- Nexter KNDS Group
- Denel SOC Ltd.
- Nammo AS
- Others
Recent Developments
- Launch of AI-powered targeting systems to enhance the precision of shoulder-fired weapons.
- Development of lightweight, portable launch platforms for ease of deployment in various environments.
- Increased military contracts for advanced shoulder-fired weapon systems in Asia Pacific and North America.
- Innovation in multi-target engagement capabilities allows shoulder-fired weapons to hit multiple targets with greater efficiency.
- Introduction of sustainability-focused materials in weapon production to reduce environmental impact.
Conclusion
The shoulder-fired weapons market is on a strong growth trajectory, with projections to reach USD 17.50 billion by 2034. Driven by innovations in technology, rising defense spending, and increasing demand for portable weapons, the market offers significant business opportunities. Companies can position themselves for success by investing in AI technologies, expanding into emerging markets, and forming strategic partnerships to secure government contracts.
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