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The global small arms market size was valued at USD 8.53 billion in 2021 and is expected to reach USD 8.75 billion by 2022. The market is expected to reach USD 11.16 billion by 2029, exhibiting a CAGR of 3.53% during the forecast period. Rising armed conflicts, cross-border conflicts, increasing hunting activities, and shooting ranges are likely to boost the market growth. Fortune Business Insights™ provides this information in its report titled “Small Arms Market, 2022-2029.” Segments Handgun Segment Held the Largest Market Share Owing to Surge in Demand for Handguns By type, the market is segmented into handgun, rifles, and shotgun. The rifles segment is expected to hold the largest market share due to strong demand for pistols and revolvers for security purposes. Furthermore, cross-border conflicts, political turmoil, rising hunting, and personal safety concerns are expected to foster industry growth. Information Source: https://www.fortunebusinessinsights.com/small-arms-market-103173 List of Key Players Profiled in the Report Kalashnikov Group (Russia) Smith & Wesson Brands Inc. (U.S.) Sturm, Ruger & Co., Inc. (U.S.) Heckler & Koch GmbH (Germany) American Outdoor Brands Corporation (U.S.) Glock Ges.m.b.H. (Austria) Remington Arms Compant LLC (U.S.) Colts Manufacturing LLC (U.S.) FN Herstal (Belgium) Israel Weapons Industries (Israel) Defense & Homeland Security Segment to Hold Major Market Share Owing to Strong Defense Expenditure By application, the market is classified into law enforcement, hunting, sports, self-defense, homeland security & defense. The defense & homeland security segment is expected to dominate attributable to strong defense expenditures. Further, increasing cross-border conflicts and rapid modernization of defense expenditures may fuel the adoption of small guns. Regionally, the market is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.