Global Ammunition Market is estimated to reach $26.18 Billion by 2024 with CAGR of 23.7% between 2016 and 2024. Ammunitions are designed to be used in a wide range of firearms and are highly explosive. They can be short from weapons ranging from short pistols to heavy automatic weapons, known as machine guns. Ammunitions are necessary for all kind of weapons to operate. Majority of military and civilian ammunitions have standardized specifications for the size, shape and ballistic performance. There are certain important factors to be considered while using a chemical formula used to produce ammunitions. These factors include physical size, expansion rate, shape of powder particles and the stability of propellant. Continuous R&D is required to develop advanced or smart ammunition and ammunition management system with upgraded cyber-attack resistance. Ammunitions can also be owned by civilians for personal safety or even for hunting, but need a valid identification cards or firearms license. This aims to reduce gun violence or gun assaults which causes risk to like of common people.
The key factors supplementing the growth of the ammunition market include increasing budgets by defence for procuring advanced military ammunitions and growing threat of terrorists and cross-border disputes globally. Increasing demand for ammunitions for training purpose for various armed forces and increasing popularity of shooting as a sports activity also supports the growth of the market. Though, declining defence budgets of certain countries and high toxicity of lead-based ammunitions could pose challenge to the market. Nevertheless, non-lethal weapons and green bullets could provide opportunities in coming years.
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The global Ammunition market is categorized as caliber, type, application and geography. Caliber can be segmented into mortar ammunition, small caliber, medium caliber, artillery ammunition and shotgun shells. By type, it is further segmented into armour piercing, full metal jacketed, tracer, incendiary, and others. Furthermore, application is segmented into military, law enforcement and commercial.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Federal Premium Ammunition, BAE Systems, Fiocchi Munizioni S.p.A., RUAG Holding A.G., General Dynamics Corporation, Nammo AS, Maxam, Olin Corporation, Orbital ATK Inc., Remington Arms Company, Inc., Hornady Manufacturing Company, Inc., and Remington Arms Company.
The key takeaways from the report:
The report will provide detailed analysis of Ammunition Market with respect to major segments such as caliber, type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities
An exhaustive regional analysis of Ammunition market
Profile of key players of the Ammunition market, which include key financials, product & services and new developments
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Scope of Ammunition Market:
Full Metal Jacketed
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