- Small Arms are essential for ensuring the security and safety of maritime vessels, playing a critical role in protecting ships and their crews from piracy, theft, and other threats in high-risk maritime environments
- The market’s growth is significantly driven by factors such as increasing piracy incidents, the need for enhanced vessel security, and the adoption of advanced technologies like surveillance systems, AI, and automated defense systems
- The North America region stands out as the dominant market with the market share 31.57%, for Small Arms in the maritime industry. This is primarily due to the region’s high maritime traffic, strategic location along global shipping routes, and rising piracy threats, which necessitate advanced security solutions on vessels
- For instance, On November 4, 2024, India announced plans to revolutionize its small arms and ammunition manufacturing sector to bolster defense self-reliance amidst rising geopolitical tensions. With conflicts in Gaza and Ukraine boosting global arms industry profits, India aims to reduce import dependency by modernizing its domestic production capabilities through the ‘Make in India’ campaign, enhancing national security.
- Globally, small arms are recognized as critical components in the maritime industry, playing a pivotal role in maintaining the safety, security, and operational efficiency of vessels and their crews
