What is Service Handgun Market?
A service handgun is known as personnel ordnance or weapon. It is issued to military personnel or law enforcement officers, rear-echelon support personnel for self-defence, and to the non-commissioned officers. There types are based upon the cycle of operation. Each type of service handgun is specifically provided with distinct chamber construction. Basic types of service handguns are Pistols, Revolvers and Automatic Reloader. They are specially differenced by the cycle of operation. Rising military and defence expenditure leads to demand for personnel weapon. In addition, rising advancements to provide lightweight personnel weapon having high accuracy has impacted on the market growth in positive manner.
The market study is being classified by Type (Pistol, Revolver and Automatic Reloader) and major geographies with country level break-up.
SIG Sauer (Germany), Heckler and Koch (Germany), Smith and Wesson (United States), Remington Arms Company LLC (United States), Baretta (Italy), GLOCK Ges.m.b.H (Austria), Savage Arms (United States), Ruger & Co. Inc. (United States), SpringField Armory, Inc. (United States), O.F.Mossberg & Sons (United States), Colt's Manufacturing Company, LLC (United States), FN Herstal (Belgium), ArmLite Inc. (United States) and Benelli Army SpA (United States) are some of the key players profiled in the study.
The market of service handgun is expected to grow with rising military and defence expenditure. Several companies are operating in the market to provide excellent and technologically advanced service handgun. The market is highly fragmented with the presence of number of market players. They are gaining attention owing to raised demand. They are taking certain strategic initiatives with new entrants to expand their existing portfolio.
Segment Analysis
Analyst at AMA have segmented the market study of Global Service Handgun market by Type, Application and Region.
On the basis of geography, the market of Service Handgun has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Expenditure of Defences and Military
- Increasing Government funding for Defence Equipment’s Manufacturing to Increase Military Strength
Market Trend
- Augmenting Defence Budget in Emerging Countries
Restraints
- Limitations Associated with Automatic Reloader Regarding Slow Reloading and Limited Number of Rounds
Opportunities
- Increasing Preference for Efficient Lightweight Service Handgun Has Created Growth Opportunities
- Ease in Accessibility and High Accuracy Leads to the Demand for Service Handgun
Challenges
- Concern of Missuses
- Strengthen Regulatory Norms Regarding Licence
Key Target Audience
Service Handgun Manufacturers, Service Handgun Suppliers/Distributor, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry