The weapons industry comprises establishments primarily engaged in manufacturing small arms, explosives, rockets, and mortars, artillery and non-gun powder weapons.
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The global weapons market was valued at $566 billion in 2017. Its large market size can be attributed to high demand for weapons due to rising geopolitical tensions. Additionally, demand for automated and smart weapons (which are generally highly priced than regular ones) to have combat edge is further supporting the market.
The market in the report is segmented into: explosives, rockets, and mortars, manual small arms, semi-automatic small arms, other gun powder weapons, artillery, automatic small arms, and non-gun powder weapons.
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North America was the largest region in the weapon manufacturing market in 2017, accounting for over 50% share in the market. The USA was the largest country in 2017, accounting for 48% share in the market.
The top five competitors in the market are: Lockheed Martin Corp, BAE Systems, Raytheon, Boeing and General Dynamics Corp. Lockheed Martin was the largest competitor. It is an aerospace and defense company and is engaged in development and manufacturing of aircrafts, missiles, sensors, and other warfare technologies. The company also provides satellites and spacecraft related products and services.
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