Service Handgun Market

Service Handgun Market Size (2022 to 2027)

The global service handgun market is forecasted to be growing at a CAGR of 2.66% from 2022 to 2027.

A service handgun is a gun or firearm given to a soldier or law enforcement officer. Service guns are generally semi-automatic revolvers or pistols issued to public officials and police officers. Still, service guns can also be given to Special Forces as a backup of the primary weapon. However, handguns are generally not granted to first-line infantry.

The global service handgun market is rapidly evolving with great demand worldwide. As defense budgets increase in developing and emerging economies, the service gun market is expected to replace old guns within law enforcement and military forces. It will multiply in developing nations in the coming years to overcome the slowdown in the United States, which has reached saturation. The main drivers of the service handgun market will be India, China, and the Middle East in the future. Service guns are issued to defense and law enforcement personnel, which can be revolvers or pistols with a mouth speed of 370-380 m/s, in most cases up to 50 meters. But for revolvers, the maximum firing range extends to 250 meters. Many countries, especially developing countries, used guns such as Vietnam's Makarov guns in the 1960s. Therefore, the opportunities for many countries to replace or modernize lateral weapons are enormous, and manufacturers are encouraged to take advantage of this.

REPORT COVERAGE:

This research report on the global service handgun market has been segmented and sub-segmented based on type, safety, material, and region.

Service Handgun Market - By Type:

• Revolvers
• Pistol

Service Handgun Market - By Safety:

• Grip
• Drop
• Manual

Service Handgun Market - By Material:

• Steel
• Aluminum
• Polymer

Based on material, the polymer-based handguns segment is likely to register the highest CAGR in the forecast period due to their lower weight, easy usage, and portability.

Service Handgun Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, the North American service handguns market accounted for the largest share of the global market in 2021. The relationship between weapons and people has become more sophisticated, increasing the total number of users in the United States. A recent survey found that 3% of adults own half of the gross total produced in the United States. According to an undisclosed study by Harvard, total stocks have increased by 70 million since 1994, converting US citizens into one of the most armed civilians in the world. In addition, public disagreements about gun ownership laws have resulted in many accidental deaths and mass shootings.

According to the Office of Alcohol, Tobacco, Firearms, and Explosives, there were 11 million in 2013, which increases the total ownership of people. The Middle East and Africa service handgun market are one of the fastest-growing businesses, with an expected average annual growth of 8.2% from 2019 to 2026. The everyday use of guns is overgrowing in South Africa, Saudi Arabia, and the UAE.

Key Players:

Key players in the Service handgun market are Swiss Arms AG, Remington Arms Company LLC, Baretta, CZUB, FN Herstal, Colt Group SA, Glock Inc, KADDB, Smith and Wesson, Sturm, Ruger & Co., Inc., and Israel Weapons Industry. Remington Arms Company LLC, a company based in the United States, is one of the main hosts of guns for renting fields, BB weapons, and protective equipment. Glock was one of the first firearms based on polymers, and now the space is ample. Most guns are handles, which is very attractive to military and law enforcement personnel when ordering. The most successful are the universal guns, which are more adaptable, and the most successful in the future.

Recent Market Developments:

• In January 2017, the US Army announced that it would replace the service gun after 35 years, and the standard issued the Beretta M9 as the last P320 gun developed by Sauer and Shon. The army said it would buy 280,000 guns and up to 500,000 pistols.
• In November 2017, the US Army announced that soldiers with the 101st Airborne Division would be the first to receive the new Army gun, the M17 modular gun system. The 101st Airborne Division received around 2000 M17 and M18 pistols, replacing the previous 10-year-old Beretta M9 that the army used.