The global Ammunition market is forecasted to grow at a rate of 3.4% during the forecast period and reach USD 30.25 billion in 2030. The market under study had a value of USD 22.35 billion in 2021. An increase in terrorist activities around the world is compelling all the countries to increase spending in the defense sector, which is primarily driving the growth of the market. There is an effort to modernize defense infrastructure by countries around the world and this is acting as the main driver for the market. Modernization of military forces is carried out by countries like the USA, China, Russia, Turkey, Israel, South Korea, India in order to improve their military abilities. The demands of these countries are compelling major players in the market to focus more on R&D.
The civil and commercial segment of the market under study is predicted to have a fairly good CAGR during the forecast period apart from massive growth in the defense segment. The growth in the civil and commercial segment is primarily due to the rise in interest in sports and leisure activities like shooting and hunting.
The small caliber segment is forecasted to have the highest CAGR among all segments during the forecast period since it can be used in small arms, which are now used by armed forces and security personnel.
However, illegal dealings of arms and ammunitions have increased around the world, and countries around the world are thus forced to bring stringent regulations regarding arms dealings, which is acting as a restraint for the market under study.
North America is the largest consumer of ammunitions owing to huge demand coming from the USA, wherein there will be a significant amount of growth from the APAC region as well during the forecast period. The growing number of terrorist activities in the Asia Pacific region and huge allocation of budget in the defense sector by countries of this region are triggering the market in APAC region.
Key participants include Nammo AS, Northrop Grumman, Rheinmetall AG, Nexter group KNDS, RUAG Group, Fiocchi Munizioni S.p.A, Prvi Partizan Ammunition (PPU), Hornady, General Dynamics Corporation, and Hanwha Group.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Ammunition Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Ammunition Market.
Further key findings from the report suggest
- Centerfire product enjoyed the largest market share among all the product segments in 2019 because of its special features, which makes it one of the most useful ammunition products. The rimfire ammunition is also expected to have a significant amount of growth rate of 3.6% during the forecast period.
- The small caliber segment enjoyed the largest market share in 2019 and it is forecast period to witness the fastest growth rate of 3.7% during the forecast period. This is due to security concerns arising in many countries. Rockets and Missiles segment will also witness a fair amount of growth of around 3.6% during the forecast period.
- The defense sector has always been the largest consumer in the ammunitions market, but the Civil and Commercial segment is forecasted to record high growth due to its vast product line.
- North American market is the dominant consumer in the market is expected to show a considerable growth, but the Asia Pacific region will show a significant amount of growth rate of 3.8% during the forecast period due to rising tensions between China and the USA.
- On May 8, 2019, Fiocchi launched 7 new cartridges that can be used in hunting shotguns, which include JK6 33, SUBSONIC, HP 36, SLUG STEEL, GM3, 20 gauge SUBSONIC and 410 gauge SILENT.
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For the purpose of this report, Reports and Data have segmented into the Ammunition market on the basis of product, caliber, end use, and region:
Caliber Outlook (Revenue, USD Billion; 2019 – 2030)
- Rockets & Missiles
Product Outlook (Revenue, USD Billion; 2019 – 2030)
- Aerial Bombs
- Artillery Shells
Component Outlook (Revenue, USD Billion; 2019 – 2030)
- Fuses & Primers
- Gun Powder
Guidance Outlook (Revenue, USD Billion; 2019 – 2030)
Lethality Outlook (Revenue, USD Billion; 2019 – 2030)
End-Use Outlook (Revenue, USD Billion; 2019 – 2030)
- Military & Homeland Security
- Civil & Commercial
Regional Outlook (Revenue, USD Billion; 2019 – 2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Advantages of Ammunition Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Ammunition industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Ammunition Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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