Service Handgun Market

Service Handgun Market Outlook – 2027

A handgun is a firearm having a magazine well and a short-barrel that can be held and used with one hand. Service handguns are specifically issued to law enforcement officers and military personnel to be used as personal or ordnance weapons. The two basic types of handguns are revolvers and pistols. Moreover, these service handguns are provided to military personnel and officers of civil law enforcement to safeguard their interests along with maintaining national security. The rising trend to upgrade the existing weapon systems fuels the demand for service handguns. 

COVID-19 scenario analysis: 

• Service handgun production is expected to be more agile after the end of COVID-19.
• The supply chain disruption is expected to affect the future growth of the companies due to lockdown.
• The revenue is not being generated for the companies due to the ongoing pandemic, which is expected to result in major losses across the year.
• Companies have to deal on a significant margin basis to revive the market.
• A huge monetary loss has been accounted for in the revenue generation of the service handgun companies due to the lockdown.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The increasing need to improve the law enforcement strength of nations is pushing the demand for the global service handgun market. Moreover, the rise in spending by government institutions is expected to foster the application of service handguns in the military as well as law enforcement applications. In addition, the old and obsolete handguns need to be replaced with new and advanced equipment to keep in consistent pace with the dynamic market. Moreover, the demand for light weapons has also increased over the period, thereby boosting the growth of the global service handguns market. Among different types of service handguns, pistol is expected to develop a significant demand due to its larger bullet holding capacity. 

The global service handgun market trends are as follows:

Increase in government spending to foster the product application

Government organizations play a vital role in creating a significant demand for service handguns. This is followed by an increase in the application of service armors in law enforcement and military application. In addition, the rise in defense budget, approved by the government of several nations, to bolster the military strength and maintain the safety of the defense personnel extracts the maximum demand for the product. Although the military and law enforcement sectors have different service fields, the need to maintain the security of personnel on duty remains the same. Furthermore, governments of developing nations enhance the capabilities of their military organizations, thereby generating sufficient demand for service handguns. 

Technological advancement and holding capacity to boost the demand for pistols

Pistols generally have a larger bullet holding capacity in comparison to those of revolvers. In addition, on a standard magazine, a pistol can hold up to 17 rounds whereas the capacity of revolvers is very less. Moreover, the high accuracy rate of pistols makes them a preferable option for service personnel. The ease in accessibility and mobility of pistols boost their demand in the global service handguns market. Furthermore, the integration of technology allows the development of lightweight pistols with improved efficiency. Such factors are responsible for fueling the demand for pistols in the global market.

Key benefits of the report:

• This study presents the analytical depiction of the global service handgun market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global service handgun market share.
• The current market is quantitatively analyzed to highlight the global service handgun market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global service handgun market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the service handgun market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Service Handgun Market Report Highlights