SAN FRANCISCO, February 8, 2021 / PRNewswire / – The World ammunition market size is expected to reach $ 28.37 billion by 2028 registering a CAGR of 3.6%, according to a new report from Grand View Research, Inc. Increased investment in defense equipment by the military due to rising geopolitical tensions around the world is expected to stimulate demand for the products. The increase in purchases of artillery and mortar platforms by the Indian Army through several development platforms is expected to increase the ammunition count during the forecast period. In addition, escalating hostilities are expected to stimulate demand for products in Middle Eastern countries during the forecast period.
Main suggestions from the report:
- Small caliber has become the most important segment in 2020 and is expected to generate revenues of over $ 14.9 billion by 2028 due to a wide range of applications including assault rifles, handguns and pistons
- The centerfire products segment accounted for the largest revenue share of over 68% in 2020 and is expected to experience the fastest growth during the forecast period.
- Defense became the largest application segment in 2020, accounting for a revenue share of 76.2%
- This growth has been attributed to the increase in product purchases by the internal security forces.
- Asia Pacific is expected to register the maximum CAGR of 4.7% over the forecast years, mainly due to the modernization of defense forces in countries, such as China, India, Australia, and Singapore
- The American market was valued at $ 6.79 billion in 2020 and is expected to increase significantly over the forecast period due to increased defense spending associated with intensive training activities carried out by the country’s defense forces
Read the 140-page research report with table of contents on “Ammunition Market Size, Share & Trend Analysis Report By Caliber (Small, Medium), By Product (Centerfire, Rimfire), By Application (Civil & Commercial, Defense), By Region and Segment Forecast, 2021 – 2028 “to: https://www.grandviewresearch.com/industry-analysis/ammunition-market
Technological innovations for replacing brass-based bushes with polymer-based bushes should offer growth prospects to the market. The application of polymeric materials in the bullets reduces the weight of the ammunition by more than 40%, the impact of the ammunition is not affected, thus making them lighter and more precise compared to conventional bullets. Growing geopolitical issues, war situations and increasing terrorist activity across the world are leading to increased stockpiling of products by major armies and armed forces. This strategy is likely to offer cost savings as products are purchased in high volume at cheap prices, which in turn also supports market growth.
Grand View Research has segmented the global ammunition market on the basis of caliber, product, application, and region:
- Ammunition Caliber Outlook (Revenue, USD Million, 2017 – 2028)
- Small caliber
- 5.56 mm
- 7.62 mm
- 7.62 x 51 mm
- 7.62 x 39 mm
- 9 mm
- Medium Caliber
- Large caliber
- Rockets, missiles and others
- Ammunition Product Outlook (Revenue, USD Million, 2017 – 2028)
- Ammunition Application Outlook (Revenue, USD Million, 2017 – 2028)
- Civil & Commercial
- Self defense
- Regional Munitions Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Czech Republic
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
List of major players in the ammunition market
- General Dynamics Corp.
- BAE systems
- Remington Arms Company
- JagemanN stamping company
- Ammunition, Inc.
- Sierra balls
Find more research reports on Advanced interior materials industry, by Grand View Research:
- Small and medium caliber ammunition market – The global market size for small and medium caliber ammunition has been estimated to be $ 9.18 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027.
- Less Lethal Ammunition Market – The global market size for less lethal ammunition has been estimated at $ 867.4 million in 2019 and is expected to record a compound annual growth rate (CAGR) of 4.3% from 2020 to 2027.
- Small arms and light weapons market – The size of the global small arms and light weapons (SALW) market has been assessed $ 18.70 billion in 2015. The growing interest of civilians in various sports such as shooting and self-defense is expected to drive the market growth.
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps leading Fortune 500 companies and academic institutes understand the global and regional business environment and assess opportunities as they arise.
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