A huge range of ammunition of sizes and types is being used globally, specially designed to work only in particular weapons systems. There is a huge increase in terrorist activities and hostilities worldwide that acts as one of the main factors that are dealing with market growth. Increasing trends for sports and shooting that use rifles and pistols are anticipated to surge the penetration of small-caliber ammunition in the forecast time.
According to Data Bridge Market Research, the Global Ammunition Market was valued at USD 24.40 billion in 2021 and is expected to reach USD 32.88 billion by 2029, registering a CAGR of 3.80% during the forecast period of 2022-2029.
" Increased Demand of Medium Caliber Surge the Market Growth"
The growing demand for medium caliber leads to the growth of the market. The medium caliber segment involves high-performance 20 mm, 25 mm, 30 mm, and 40 mm cartridges for a huge range of applications, including land, sea, and air, which can penetrate light armor, material, and personnel target. The growing application of guns and rifles by prominent militaries globally is expected to increase the demand for medium-caliber ammunition. Many guns use the spin-stabilized large-caliber cartridge since it promotes flight stability using spinning. Thus, this factor boosts market growth.
What restraints the growth of the Global Ammunition Market?
" Increasing Government Policies and Trade Policy Issues"
Several government policies and trade policy issues will act as major restraints on the market. Several federal and state regulations govern ammunition manufacturing, distribution, and licensing. For instance, U.S. Firearms and Ammunition Law regulates the transportation, shipping, receiving, and possession of firearms and ammunition. Additionally, it validates the license and permits for hunting and sporting purposes. Huge restrictions on possessing arms and ammunition to decrease causalities will impede product adoption. All these major factors impede the growth of the market.
Segmentation: Global Ammunition Market
The global ammunition market is segmented on the basis of product, component, caliber, guidance, lethality and application.
- On the basis of product, the global ammunition market is classified into bullets, aerial bombs, grenades, artillery shells, mortars.
- On the basis of component, the global ammunition market is classified into fuzes and primers, propellants, bases, projectiles and warheads, others.
- On the basis of caliber, the global ammunition market is classified into small, medium, large, others.
- On the basis of guidance, the global ammunition market is classified into non-guided, guided.
- On the basis of lethality, the global ammunition market is classified into lethal, less-lethal
- On the basis of application, the global ammunition market is classified into defense, civil and commercial
Regional Insights: North America is expected to dominate the Global Ammunition Market
North America dominates the market because of the increased threat from terrorism and the wide presence of lenient gun laws within the region. Furthermore, the U.S. Department of Defense's long-term competitive strategy for developing technologies and new concepts of warfare is anticipated to surge the market growth.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 because of the rise in the expenditure for the modernization of their armed forces and the indulgence of ammunition for the region's armed forces and law enforcement agencies.
To know more about the study, visit, https://www.databridgemarketresearch.com/jp/reports/global-ammunition-market
Recent Developments in Global Ammunition Market
- In 2020, Nexter KNDS Group received a contract from the French Army to supply 70,000 modular artillery loads. This initiative was taken for their use on the CAESAR system. The CAESAR system is a 155mm artillery system that the French Army is highly using.
The Prominent Key Players Operating in the Global Ammunition Market Include:
- AMMO Inc (U.S.)
- BAE Systems (U.K.)
- Chemring Group PLC (U.K.)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (U.S.)
- Hanwha Group (South Korea)
- Nexter group KNDS (France)
- Norinco Private Limited (India)
- Northrop Grumman (U.S.)
- Olin Corporation (U.S.)
- Poongsan Corporation (South Korea)
- RUAG Group (Switzerland)
- REMINGTON OUTDOOR COMPANY (U.S.)
- Rheinmetall AG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global ammunition market companies contact, https://www.databridgemarketresearch.com/jp/contact
Research Methodology: Global Ammunition Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
