Factors such as the changing nature of warfare, militarization of police forces, growing incidence of drug trafficking and terrorist activities, and modernization of armed forces are driving factors contributing to the growth of the ammunition market .
New York, April 18, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Ammunition Market by Application, Caliber, Product, Component, Guidance Mechanism, Lethality, Region – Forecast to 2026” – https://www.reportlinker.com/p04759534/?utm_source=GNW
The ammunition market includes major players Lockheed Martin (US), General Dynamics Corporation (US), BAE Systems (UK), Elbit Systems (Israel), CBC Global Ammunition (Brazil) and Nammo AS (France ), among others. These players have expanded their businesses into various countries including North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America.
COVID-19 has affected the growth of the ammunition market to some extent, and it varies from country to country. Industry experts believe that the pandemic has not affected the demand for ammunition in defense applications.
However, due to the continued lockdown and social distancing measures, the need for ammunition in civilian and commercial applications has diminished.
Small: The fastest growing segment of the ammunition market, by caliber”
On the basis of caliber, the ammunition market has been segmented into small, medium, large and other. The small caliber segment is expected to grow at the highest CAGR during the forecast period.
The growth of this segment can be attributed to the increased use of small caliber ammunition by military and homeland security personnel, due to the lower lethality of such ammunition.
Bullets: Fastest growing ammunition market segment, by product”
The bullets segment is expected to grow at the highest CAGR. In recent years, increasing attention has been observed to upgrade land forces and air force inventory across the world due to multiple reasons such as geopolitical tensions and air force applications.
For example, the United States has ongoing F-35 fighter jet programs. As the Indian Air Force is looking for multi-purpose aircraft to bolster its armed forces, new aircraft purchases will lead to an increase in demand for related ammunition in the coming years.
Defense: The Fastest Growing Segment of the Ammunition Market, by Application »
The defense segment of the ammunition market has been categorized into military and homeland security. The growth of the defense segment of the ammunition market can be attributed to the increasing spending by countries on military modernization programs, as well as the increase in terrorist activities and civil unrest in several parts of the world.
North America: The largest contributing region of the ammunition market.
The Ammunition Market in the North America region has been studied for the United States and Canada. The major factors that are expected to drive the market growth in the region include increasing cases of terrorism, which has led to increased use of ammunition by the armed forces and a growing number of drug cartels in Central America.
The North American countries are awarding a number of contracts to major players in the ammunition market for the delivery of ammunition, thereby driving the growth of the ammunition market in the region. For example, in July 2020, Northrop Grumman Corporation secured a contract from the United States Army will deliver the new generation of Airburst cartridges for the XM813 Bushmaster 30mm chain gun.
The Bushmaster chain gun will be installed on the Stryker Infantry Carrier Vehicle (ICV). Additionally, the company secured a contract worth $93 million from the US military to manufacture general-purpose munitions technology to destroy targets such as lightly armored and infantry fighting vehicles.
The breakdown of the profile of the main players in the ammunition market:
• By type of business: Level 1: 35%, Level 2: 45% and Level 3: 20%
• By designation: C level – 35%, director level – 25% and other – 40%
• By region: North America – 20%, Europe – 5%, Asia-Pacific – 45% and Middle East and Africa – 30%
The major companies featured in the report are Northrop Grumman Corporation (US), General Dynamics Corporation (US), CBC Global Ammunition (Brazil), Olin Corporation (US), Ruag Ammotec (Switzerland), BAE Systems ( United Kingdom), Thales Group (France). ), Rheinmetall AG (Germany), Nexter KNDS Group (France), Elbit Systems (Israel), Nammo AS (Norway) and ST Engineering (Singapore) among others. (28 Companies)
This research report categorizes the ammunition market based on application (defense, civil, and commercial), caliber (small, medium, large, other), product (bullets, aerial bombs, grenades, artillery shells, mortars) , components (rockets and primers, propellants, bases, projectiles and warheads, others), guidance mechanism (guided, unguided), lethality (lethal, less lethal) in these segments were mapped in major regions, namely the America, Europe, Asia-Pacific, the Middle East, Latin America and Africa. The scope of the report covers detailed information about the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Ammunition market.
A detailed analysis of major industry players has been carried out to provide insight into their business insights; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, associated with the ammunition market.
Reasons to buy this report:
The report will assist market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall ammunition market and sub-segments. This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses. and plan appropriate go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
The report provides information about the following pointers:
• Market Penetration: comprehensive information on ammunition offered by major market players
• Product Development/Innovation: detailed information on upcoming technologies, research and development activities and new product launches in the ammunition market
• Market Development: Comprehensive insights into lucrative markets: The report analyzes Ammunition market across various regions
• Market Diversification: comprehensive information on new products, untapped geographies, recent developments and investments in the ammunition market
• Competitive assessment: in-depth assessment of market shares, growth strategies, products and manufacturing capabilities of key players in the ammunition market
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