NEWTOWN, Conn. - While the European players no longer dominate the international machine gun market in terms of production, European designs remain industry standards. A significant portion of the non-U.S. and non-European weapons available on the international market are direct copies or derivatives of established European designs.
Given the continued success of established European designs, we believe the European machine gun market will continue to be evolutionary rather than revolutionary in nature. Leading European players in this market tend to stick with successful designs rather than betting on radical new design concepts.
New designs must face the obstacle of proving themselves against the existing icons of the market. Even then, the fiscal constraints on European armed forces may severely limit procurement of new designs if proven, dependable weapons are still operable in the existing inventories.
While the light machine gun market segment will continue to be the most active, the European market for all classes of machine guns will remain stable. We expect a steady base level of procurement, averaging over 47,500 weapons per year, through 2024.
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