Small Arms Market to Reach $13.41 Billion by 2031
The global market for small arms is projected to grow from USD 10.75 billion in 2026 to USD 13.41 billion by 2031, with a compound annual growth rate of 4.53%. This expansion is driven by increased defense spending and military modernization efforts.
The global market for small arms is expected to reach USD 13.41 billion by 2031, according to a report by Mordor Intelligence. The market size was valued at USD 10.75 billion in 2026 and is projected to expand at a compound annual growth rate (CAGR) of 4.53% over the forecast period.
Key drivers for this growth include rising defense expenditures worldwide and ongoing military modernization programs. Nations are investing in upgrading their arsenals to address evolving security landscapes, leading to increased demand for advanced small arms systems.
The report also highlights the impact of next-generation weapon programs, focusing on the development of new rifles and personal defense weapons. These initiatives often incorporate advancements in materials, ergonomics, and firing mechanisms.
Geopolitical instability and regional conflicts are further contributing to the demand for small arms from both governmental and non-governmental entities. The analysis was published by Mordor Intelligence in September 2026.