Published By : 01 Jun 2016 | Published By : QYRESEARCH
Small arms are designed particularly for individual usage whereas light weapons are designed to be used by a group of two or three persons. With rise in terrorism, governments across nations are focusing on equipping their defense forces with small arms and light weapons. In fact, government support is one of the key factors impacting the growth of the global small arms and light weapons market. Rise in urban warfare, modernization of police force, and increased security measures to restrict drug trafficking has boosted the growth of the global small arms and light weapons market. However, introduction of legislations pertaining to the usage of firearms and cost cutting in defense budget across nations might restrain the growth of the market during the forecast horizon. Extensive research and development activities are expected to create opportunities and define future outlook of the market.
Arms Trade Treaty: A First Step to Restrain Controversial Dealing of Arms
According to Kim Won-soo, the United Nations disarmament chief, the Arms Trade Treaty will not be able to immediately stop controversial dealing of arms such as the deal worth US$15 bn between Canada and Saudi Arabia regarding sales of light armoured vehicles. The sale of light armoured vehicles by Canada witnessed human rights and peace organizations pressing the government to cancel the deal owing to poor record of human rights in Saudi Arabia. However, the Liberal government has agreed to stick to the deal stating that cancelling the deal would harm the reputation of Canada in international trade. Canada has announced that it will join the Arms Trade Treaty in the near future and abide by its legal obligations. However, this deal casts doubts over the country’s willingness to join the treaty.