Report

  1. Home
  2. Public Sector
  3. Defense
  4. Weapons

Light Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Report I 2023-10-15 I 138 Pages I IMARC Group

Market Overview:

The global light weapons market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Light weapons refer to a group of weapons that are designed to be used by more than one crew member but can also be used by one individual under certain conditions. They are predominantly used by defense forces in combat missions and naval operations. It comprises heavy machine guns, mounted grenade launchers, MANPADS (man-portable anti-defense systems), recoilless rifles, anti-tank missile launchers, anti-tank guns, landmines, mortars of lesser caliber, and anti-aircraft missiles. Technologies for guided weapons as well as unguided weapons are used in the production of these weapons. Some of the common materials used in the manufacturing of these weapons include steel and polymers. Defense and homeland security are two of the major applications of light weapons.


Light Weapons Market Trends:
The market is primarily driven by significant growth in the military and defense sector due to the escalating demand for advanced weapons. This can be attributed to the increasing adoption of precision-guided firearms with advanced features, such as targeting, fire control, and advanced head-up display technologies. An increasing number of contracts for light weapons from military forces and homeland security are also providing a boost to the market. Moreover, extensive research and development (R&D) activities conducted by key weapon manufacturers are creating a positive market outlook. The market is also propelled by continual technological advancements in weapon manufacturing, such as the advent of an increased range of anti-tank missiles, integration of laser systems in light cannons, and incorporation of artificial intelligence (AI) features. A considerable increase in terrorism, cross-border disputes, and political unrest between neighboring countries are further contributing to a significant rise in the uptake of light weapons. Some of the other factors contributing to the market include the low production cost of the product, the expanding military modernization programs, and the rising defense expenditure.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global light weapons market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and application.

Breakup by Type:

Heavy Machine Guns (HMGs)
Grenades and Grenade Launchers
Mortars
Man-portable Anti-tank Systems (MANPATS)
Man-portable Air Defense Systems (MANPADS)
Others

Breakup by Technology:

Guided
Laser Guided
Infrared Guided
Satellite Guided
Semi-automatic Command to Line of Sight
Unguided

Breakup by Application:

Defense
Homeland Security

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BAE Systems plc, FN Herstal (Herstal Group), General Dynamics Corporation, Heckler & Koch GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.

Key Questions Answered in This Report
1. How big is the global light weapons market?
2. What is the expected growth rate of the global light weapons market during 2023-2028?
3. What are the key factors driving the global light weapons market?
4. What has been the impact of COVID-19 on the global light weapons market?
5. What is the breakup of the global light weapons market based on the technology?
6. What is the breakup of the global light weapons market based on the application?
7. What are the key regions in the global light weapons market?
8. Who are the key players/companies in the global light weapons market?

1Preface
2Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3Executive Summary
4Introduction
4.1Overview
4.2Key Industry Trends
5Global Light Weapons Market
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast
6Market Breakup by Type
6.1Heavy Machine Guns (HMGs)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2Grenades and Grenade Launchers
6.2.1 Market Trends
6.2.2 Market Forecast
6.3Mortars
6.3.1 Market Trends
6.3.2 Market Forecast
6.4Man-portable Anti-tank Systems (MANPATS)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5Man-portable Air Defense Systems (MANPADS)
6.5.1 Market Trends
6.5.2 Market Forecast
6.6Others
6.6.1 Market Trends
6.6.2 Market Forecast
7Market Breakup by Technology
7.1Guided
7.1.1 Market Trends
7.1.2 Key Segments
7.1.2.1 Laser Guided
7.1.2.2 Infrared Guided
7.1.2.3 Satellite Guided
7.1.2.4 Semi-automatic Command to Line of Sight
7.1.3 Market Forecast
7.2Unguided
7.2.1 Market Trends
7.2.2 Market Forecast
8Market Breakup by Application
8.1Defense
8.1.1 Market Trends
8.1.2 Market Forecast
8.2Homeland Security
8.2.1 Market Trends
8.2.2 Market Forecast
9Market Breakup by Region
9.1North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10SWOT Analysis
10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats
11Value Chain Analysis
12Porters Five Forces Analysis
12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes
13Price Analysis
14Competitive Landscape
14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
14.3.1BAE Systems plc
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2FN Herstal (Herstal Group)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3General Dynamics Corporation
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4Heckler & Koch GmbH
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5Israel Aerospace Industries Ltd.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6Lockheed Martin Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7Raytheon Technologies Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8Rheinmetall AG
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.9Saab AB
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10Thales Group
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis

Figure 1: Global: Light Weapons Market: Major Drivers and Challenges
Figure 2: Global: Light Weapons Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Light Weapons Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Light Weapons Market: Breakup by Type (in %), 2022
Figure 5: Global: Light Weapons Market: Breakup by Technology (in %), 2022
Figure 6: Global: Light Weapons Market: Breakup by Application (in %), 2022
Figure 7: Global: Light Weapons Market: Breakup by Region (in %), 2022
Figure 8: Global: Light Weapons (Heavy Machine Guns (HMGs)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Light Weapons (Heavy Machine Guns (HMGs)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Light Weapons (Grenades and Grenade Launchers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Light Weapons (Grenades and Grenade Launchers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Light Weapons (Mortars) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Light Weapons (Mortars) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Light Weapons (Man-portable Anti-tank Systems (MANPATS)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Light Weapons (Man-portable Anti-tank Systems (MANPATS)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Light Weapons (Man-portable Air Defense Systems (MANPADS)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Light Weapons (Man-portable Air Defense Systems (MANPADS)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Light Weapons (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Light Weapons (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Light Weapons (Guided) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Light Weapons (Guided) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Light Weapons (Unguided) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Light Weapons (Unguided) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Light Weapons (Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Light Weapons (Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Light Weapons (Homeland Security) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Light Weapons (Homeland Security) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: North America: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: North America: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: United States: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: United States: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Canada: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Canada: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Asia-Pacific: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Asia-Pacific: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: China: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: China: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Japan: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Japan: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: India: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: India: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: South Korea: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: South Korea: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Australia: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Australia: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Indonesia: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Indonesia: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Others: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Others: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Europe: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Europe: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Germany: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Germany: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: France: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: France: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: United Kingdom: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: United Kingdom: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Italy: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Italy: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Spain: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Spain: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Russia: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Russia: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Others: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Others: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Latin America: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Latin America: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Brazil: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Brazil: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Mexico: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Mexico: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Others: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Others: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Middle East and Africa: Light Weapons Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Middle East and Africa: Light Weapons Market: Breakup by Country (in %), 2022
Figure 76: Middle East and Africa: Light Weapons Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Global: Light Weapons Industry: SWOT Analysis
Figure 78: Global: Light Weapons Industry: Value Chain Analysis
Figure 79: Global: Light Weapons Industry: Porter's Five Forces Analysis

Table 1: Global: Light Weapons Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Light Weapons Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Light Weapons Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 4: Global: Light Weapons Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Light Weapons Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Light Weapons Market: Competitive Structure
Table 7: Global: Light Weapons Market: Key Players

  • Not Sure / Need Reassuring
    • Confirm Content

      • Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:

        Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.

        Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.

        Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.

    • Sample Pages

      • With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.

        It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.

        To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Check for Alternatives

      • Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.

        To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.

  • Prices / Formats / Delivery
    • Prices

      • All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.

        Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Discounts

      • As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.

        Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.

        To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.

    • Available Currencies

      • Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.

        Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.

        To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.

    • Licenses

      • License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Global Site License

      • The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.

        It is important to note that this may exclude Parent Companies or Subsidiaries.

        If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.

    • Formats

      • The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.

        If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.

    • Delivery

      • Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.

        Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.

        If a delay in delivery is expected you will be informed about it immediately.

    • Shipping Charges

      • As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.

        If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.

  • Ordering
    • By Credit Card

      • We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.

        Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.

        For more information on PayU please visit: https://www.payu.pl/en/about-us

    • By Money Transfer

      • If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.

        With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.

  • Security
    • Website security

      • We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.

        Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.

    • Credit Card Security

      • We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.

        PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.

PLEASE SELECT LICENSE
  • $2499.00
  • $3499.00
  • $4499.00
  • ADD TO BASKET
  • BUY NOW

Related Reports

Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
 Market Report I 2025-04-28 I 178 Pages
Southeast Asia, Middle-East And Africa Small Arms And Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
 Market Report I 2025-04-28 I 120 Pages
NATO Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
 Market Report I 2025-04-28 I 104 Pages

Don't forget we can help save time with your search, contact us and we'll prepare and send options

Light Weapons - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
 Market Report I 2025-04-28 I 136 Pages
Medium Caliber Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
 Market Report I 2025-04-28 I 128 Pages