The global small arms market share is projected to reach USD 6.52 billion by the end of 2027. The rising cross-border disputes and tense relations will lead to a wider product adoption across the world. According to a report published by Fortune Business Insights, titled “Small Arms Market Size, Share and Global Trend By Type (Handgun, Rifle, Shotgun) By Application (Defense & Homeland Security, Self-Defense, Sports, Hunting, and Law Enforcement), and Regional Forecast, 2020-2027,” the market was worth USD 4.80 billion in 2019 and will exhibit a CAGR of 3.96% during the forecast period, 2020-2027.
Small arms are guns or firearms that are used by individuals as a mode of self-defence. They are compact guns and can include rifles, handguns, light machine guns, and shotguns. The purpose of small arms can vary from defence to sports.
List of companies profiled in the report:
American Outdoor Brands Corporation (The U.S.)
Fabbrica d'Armi Pietro Beretta S.p.A.(Italy)
FN HERSTAL (Belgium)
General Dynamics Corporation (The U.S.)
Heckler & Koch GmbH (Germany)
Increasing Number of Company Mergers will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Due to constant demand for small arms, companies are tying-up with manufacturers for supply of these products for a long duration. In January 2019, the United States Army announced that it has signed a contract with Sig Sauer for long-term supply and development of the company’s popular P320 handgun. The contract is said to worth USD 580 million and will last for 8 years. This will be a significant step in the progress and expansion of the company. The collaboration with US Army will also make it more popular in the global market. Sig Sauer’s collaboration with the United States Army will not just help the company grow, but will play a huge part in the growth of the overall small arms market in the foreseeable future.
North America Holds the Highest Market Share; High Defense Budget is a Primary Factor Behind Market Growth
The report analyses the latest market trends across five major regions, including North America, Rest of the Word, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is expected to emerge dominant in the coming years. The high defense budgets in countries such as the United States has not just led to a wider product adoption, but has also yielded technologically advanced products. The increasing terror attacks and tense cross-border relations have also contributed to the growth of the small arms market in this region. As of 2019, the market in North America was worth USD 1.56 billion and this value is projected to increase at a considerable pace in the coming years.
Browse Summary
https://www.fortunebusinessinsights.com/small-arms-market-103173
The global medical drone market demand is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting an impressive CAGR of 27.70% between 2021 to 2028. In its report titled, “Medical Drone Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 194.7 million in 2020.
The technological advancement and ongoing competition between major players to deliver the best product are expected to drive the market in upcoming years. Thus, major players such as Volocopter, Zipline, Volansi, Flirtey, Matternet are focused on developing quality drones to ensure their global market position and high demand for medical drones amid the ongoing COVID-19 pandemic.
List of Key Players Profiled in Medical Drone Industry Report
Zipline Inc. (San Francisco, United States)
Volocopter GmbH (Bruchsal, Germany)
Volansi Inc. (San Francisco,United States)
Matternet Inc. (Mountain View, United States)
Manna Drone Delivery Inc. (Dublin, Ireland)
Driving Factor
High Demand for Drones in Healthcare Applications to Propel Market Growth
The increasing demand for monitoring and surveillance of public areas and the advent of new logistical alternatives than the conventional supply chain modes is propelling governments worldwide to invest in medical drone technology. Moreover, in this pandemic situation, human contact has been suspected to be a vehicle of viral transmission. Thus drone technology is a clear winner in this situation. Thus, there has emerged an urgent need for contactless and efficient technology. For instance, in October 2019, the UPS Flight Forward Inc. has received U.S. government approval with the Federal Aviation Administration's and standard certification to exercise drone airline operations. In response, the company launched its first drone delivery flight at WakeMed Hospital in Raleigh, NC, by using a quadcopter Matternet M2. These factors are driving the medical drone market growth.
Market Segmentation:
By type, the market is segmented into fixed-wing, rotary-wing, and hybrid. Technology is divided into fully autonomous, semi-autonomous, and remotely operated. By the package size, it is trifurcated into <2 KG, 2-5 KG, and 5 KG <. On the basis of its service, it is divided into hospital-based, independent, and government. Based on its logistical application, it is divided into emergency blood logistics, medicinal drugs logistics, medical equipment logistics, surgical equipment logistics, vaccine logistics, emergency organ logistics, and emergency ambulatory support. By End-user, it is segmented into emergency medical services, blood banks, hospitals, and others.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the Middle East & Africa.
Browse Summary
https://www.fortunebusinessinsights.com/medical-drone-market-105805
The global medical drone market demand is expected to gain momentum by reaching USD 1,410.9 million by 2028 from USD 254.7 million in 2021 while exhibiting an impressive CAGR of 27.70% between 2021 to 2028. In its report titled, “Medical Drone Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 194.7 million in 2020.
List of Key Players Profiled in Medical Drone Industry Report
Zipline Inc. (San Francisco, United States)
Volocopter GmbH (Bruchsal, Germany)
Volansi Inc. (San Francisco,United States)
Matternet Inc. (Mountain View, United States)
Manna Drone Delivery Inc. (Dublin, Ireland)
Driving Factor
High Demand for Drones in Healthcare Applications to Propel Market Growth
The increasing demand for monitoring and surveillance of public areas and the advent of new logistical alternatives than the conventional supply chain modes is propelling governments worldwide to invest in medical drone technology. Moreover, in this pandemic situation, human contact has been suspected to be a vehicle of viral transmission. Thus drone technology is a clear winner in this situation. Thus, there has emerged an urgent need for contactless and efficient technology. For instance, in October 2019, the UPS Flight Forward Inc. has received U.S. government approval with the Federal Aviation Administration's and standard certification to exercise drone airline operations. In response, the company launched its first drone delivery flight at WakeMed Hospital in Raleigh, NC, by using a quadcopter Matternet M2. These factors are driving the medical drone market growth.
Competitive Landscape
Key Players to Focus on Partnerships to Strengthen Their Market Positions
This market is consolidated by major companies striving to maintain their position by focusing on new launches, partnerships, and agreements. For instance, in February 2021, the Government of Kaduna State, in Nigeria, signed a medical delivery agreement with Zipline for airdropped COVID-19 Vaccine shipment as it would have reduced the dependency of the state to invest in the cold chain storage. Furthermore, this agreement is expected to pave the way for enhanced services such as on-demand blood products, medications, and other vaccines.
Browse Summary
https://www.fortunebusinessinsights.com/medical-drone-market-105805
The global torpedo market demand was pegged at USD 944.9 million in 2021. The market is anticipated to rise from USD 991.2 million in 2022 to USD 1,439.2 million by 2029 at a 5.47% CAGR during the forecast period.
Browse Summary
https://www.fortunebusinessinsights.com/industry-reports/torpedo-market-101571
The global aircraft switches market demand is projected to grow from USD 2.01 billion in 2021 to USD 2.60 billion by 2028. In today’s technologically advanced world, the popularity of personalized seatback screens is surging rapidly.
Browse Summary
https://www.fortunebusinessinsights.com/aircraft-switches-market-105291
The global aircraft electrical system market growth is projected to reach USD 27.29 billion by 2027, exhibiting a CAGR of 5.83% during the forecast period. Expanding defense budgets of leading economies of the world will generate unprecedented opportunities for market players, highlights Fortune Business Insights™ in its report.
Browse Summary
https://www.fortunebusinessinsights.com/aircraft-electrical-system-market-104822
The global smart weapons market demand is expected to showcase exponential growth by reaching USD 30.12 billion by 2028. This information is published by Fortune Business Insights in its latest report, titled, “Smart Weapons Market, 2021-2028.”
Browse Summary
https://www.fortunebusinessinsights.com/smart-weapons-market-104058
Satellite Communication Market Share Growing Rapidly with Recent Trends, Development by 2028
The global satellite communication (SATCOM) market is set to gain impetus from the high demand for small satellites in a wide range of sectors, such as oil & gas, energy, agriculture, and civil engineering for the purpose of earth observation.
Browse Summary
https://www.fortunebusinessinsights.com/satellite-communication-satcom-market-102679