Light Weapons Market Size, Share & Trends Analysis Report By Type (Heavy Machine Guns (HMGs), Grenades and Grenade Launchers, Mortars, Man-portable Anti-tank Systems (MANPATS), Man-Portable Air Defense System (MANPADS), Other Types), By Technology (Guided, Unguided) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Light Weapons Market Size

The global light weapons market size was valued at USD 16.11 billion in 2025 and is projected to grow from USD 16.82 billion in 2026 to USD 23.74 billion by 2034, registering a CAGR of 4.4% during the forecast period from 2026 to 2034. North America dominated the light weapons market with a market share of 35.8% in 2025.

Asia-Pacific, with a 7.3% CAGR, experiences China's strategic military modernization efforts. Notably, China North Industries Corporation (Norinco) spearheads the development of sophisticated armored vehicles like the VN2C and VN-17, equipped with advanced weaponry and enhanced capabilities, driving market growth in the region.

Over the past few years, modern battlefields are continuously changing, leading to the constant need for the enhancement of military equipment that will aid the infantry troops for combat and non-combat purposes. With the growing geographical tensions and border disputes around the world, particularly in the Asia-Pacific and the Middle East and African regions, governments are increasing their defense budgets annually to invest robustly into the modernization of armed forces' inventory of weapons by replacement of aging equipment with advanced weapons and ammunition. The ability of light weapons to penetrate and incapacitate opponents with heavy armor is projected to drive up demand for them.

Type Insights

The Man-Portable Air Defense System (MANPADS) segment dominated the market and is estimated to register a CAGR of 7.6% during the forecast period. Man-portable air defense systems (MANPADS) are relatively lightweight, short-range surface-to-air missile (SAM) systems designed to engage low-flying aircraft, especially helicopters. The advancement in aerial attack technology led to the development of systems capable of defending their assets against such aerial threats. These systems, known as air defense systems, form an integral part of any military in today's world. Some countries are replacing their existing MANPADS with newer generation MANPADS to counter the growing aerial threat capabilities. For instance, the US Army is currently seeking a replacement for its Raytheon FIM-92 Stinger short-range air-defense (SHORAD) surface-to-air missile (SAM) system that has been in the US Army inventory since the early 1980s. According to the RFI released in November 2020, the US Army is planning to award a full and open competitive contract no later than FY 2026 to produce up to 8,000 MANPADS missiles. The factors mentioned above will propel the growth of the MANPADS segment during the forecast period.

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Technology Insights

The guided segment dominated the market and is estimated to register a CAGR of 8.8% during the forecast period. Laser guidance can be found in MANPADS, MANPATS, and certain 120mm mortars. The US Army was looking for a 120 mm high explosive guided mortar in 2017 to replace the APMI, or accelerated precision mortar initiative, which is the current precision guided HE mortar. The new mortars will have a semi-active laser, an independent targeting mode that uses laser designation, whereas APSR is GPS-guided. This will provide the mortar with two ways to lead it to its intended target. It will boost accuracy by guiding the round to its target with a laser beam. The main benefit is that the mortar may be able to adjust its course while in flight to hit a moving target. Thus, as more countries currently operating guided missiles shift toward laser-guided ammunition, the segment will experience significant growth.

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Regional Analysis

North America: Dominant Region

North America's light weapons industry share is estimated to grow at a CAGR of 6.7% during the forecast period. The market is driven by the procurement of advanced weaponry by the US Armed Forces to achieve military dominance in the region, besides ensuring internal peace and security. To effectively engage armored targets, the US Army is fielding new variants of MANPADS and MANPATS weaponry. On this note, in September 2019, the US DoD awarded a USD 185.6 million contract to Lockheed-Raytheon JV to support full-rate production of the Javelin launcher system. The contract is scheduled to be finished by August 2023. Defense contractors are teaming up for developing advanced weapon systems to address the evolving complex battlefield requirements. On this note, since November 2017, Raytheon Corporation and Saab AB have collaborated on developing new weapons for the US Army. In the early phases of this collaborative effort, the team focused on upgrading the Carl-Gustaf M4 multi-role, a man-portable shoulder-fired weapon, and enhancing Saab AB's AT4 disposable weapon system to fulfill the near-term requirements of the US Army and other international clientele. The collaboration improved the portability of the weapon by reducing the weight of the latest version of the weapon, the M4/M3E1, from 22 pounds to 15 pounds. Such developments are anticipated to render a favorable outlook for the US light weapons market during the forecast period.

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Asia Pacific: Growing Region

Asia-Pacific is the second largest region. It is registering a CAGR of 7.3%. The Chinese MoD has undertaken an extensive approach to modernize each aspect of combat. Hence, it is actively developing new weapons to enhance the current capabilities of its armed forces. China North Industries Corporation (Norinco) has been focusing on increasing the production and sales of domestically manufactured armored vehicles. In 2016, the company developed a 6x6 VN2C mine-resistant vehicle, like its earlier WMZ-551 APC, armed with 12.7 mm and 762 mm MGs, eight electrically operated grenade launchers, and space for additional turrets. In 2017, Norinco demonstrated a new vehicle similar to the company's VT-5 light tank. VN-17 offers a remote turret, two multi-lens EO/IR sensors, a 35mm cannon, and a 7.62mm MG or medium-range HJ-12 anti-tank missile launcher. Such developments drive the market in China during the forecast period.

Europe is the third largest region. Recently, Germany is adopting Puma IFVs to replace the aging Marder IFVs in service. The production of the first batch of Puma IFVs began in 2010, and Germany had plans to procure about 350 units by 2020. Earlier in July 2017, ARTEC was awarded a contract by Germany for the modernization of its fleet of 246 Boxer vehicles. The complete fleet of Boxer vehicles will be retrofitted to A2 standard. Also, in November 2019, Germany awarded a multi-year contract to Euro spike, a joint venture between Rafael, Diehl Defence GmbH, and Rheinmetall Electronics GmbH, for 1,500 Spike missiles and hundreds of Integrated Control Launch Unit dismounted missile launchers. The contract entails local manufacturing of the Spike missiles and launchers. Also, in December 2019, the German Armed Forces awarded a contract to MBDA Inc. to acquire the Enforcer MANPAT. Such developments may render a positive outlook for the German light weapons market during the forecast period.

List of Key and Emerging Players in Light Weapons Market