What Happened
Global Firearms Industry Sees Growth in Defense Modernization
The global guns and accessories market is expected to grow from $7.84 billion in 2026 to $12.34 billion by 2034, driven by rising defense modernization programs and increasing participation in recreational shooting and hunting activities. The market is dominated by North America, with a 34.58% share in 2025, and is expected to see growth in the Asia Pacific region. This growth may be driven by the adoption of advanced firearms and tactical accessories, as well as increasing investments in domestic defense manufacturing. According to Straits Research, the market is expected to see significant growth in the coming years, with key players competing through product innovation and long-term procurement contracts. This report was first published by Unknown Source.