- In November 2023, the Belgian government approved a long-term strategic partnership between Belgian Defence and FN Herstal. This initiative aligns with the DIRS* framework and policies established by the Belgian federal government and Defence Minister Ludivine Dedonder since 2020. The partnership aims to enhance strategic autonomy and supply security for the European Union and NATO. Specifically, it focuses on ensuring a steady supply of small-caliber ammunition and maintaining the operational readiness of the Belgian army's small arms for the next 20 years. In addition, this multilateral arrangement is open to other European countries, allowing them to meet their long-term ammunition needs
- In May 2023, Israel Weapon Industries (IWI) announced a Transfer of Technology and Knowledge agreement with FAME, aimed at establishing an assembly and production line in Peru for the ARAD family of assault rifles. As part of this agreement, IWI will share its expertise in small arms assembly, advanced quality assurance, and maintenance processes with FAME. The companies are also exploring the possibility of expanding production to include additional weapons and relevant optical sights for Peru's defense and security forces
Frequently Asked Questions
The market is segmented based on Segmentation, By Type (Revolvers, Semi-Automatic Pistols, Single-Shot Handguns, and Others), Material (Metal, Polymer, and Composite Materials), Application (Personal Defense, Law Enforcement, Military, Sports Shooting, and Collecting), Distribution Channel (Online Sales, Offline Retail, and Specialty Stores)– Industry Trends and Forecast to 2031
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The Global Handguns Market size was valued at USD 2.88 USD Billion in 2023.
The Global Handguns Market is projected to grow at a CAGR of 5.2% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America.
