The new report by Expert Market Research titled, ‘Global Ammunition Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global ammunition market, assessing the market based on its segments like calibre, type, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 21 billion
- Forecast CAGR (2021-2026): 3.5%
The market for ammunition has seen substantial growth due to factors such as growing security concerns and the increasing efforts by the government to provide enhanced safety to its citizens. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the ammunition market. The market is being driven by growing ammunition demand in the defence sector because of factors such as increased foreign conflicts and terrorism. The market is expected to expand due to favourable government initiatives and emerging nations’ growing emphasis on improving their military capabilities over the forecast period. Furthermore, modernising firearms like shotguns, handguns, machine guns, and other weapons would necessitate more ammunition than normal. As a result, business growth will be boosted even further.
Industry Definition and Major Segments
The material fired, scattered, dropped, or detonated from any weapon or weapon system is referred to as ammunition. It is the weapon system’s most lethal component and plays a crucial role in armed conflicts. Ammunition includes bombs, missiles, grenades, land mines, bullets, and warheads, among other things.
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Based on the calibre, the industry is divided into:
- Small Calibre
- Medium Calibre
- Large Calibre
- Rockets and Missiles
Based on the type, the industry is divided into:
Based on the application, the industry is divided into:
- Civil and Commercial
The regional markets for ammunition include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, North America accounted for a sizable portion of the ammunition market. A major rise in military spending, rapid technological advances in the defence sector, and growing security issues have all led to the region’s market development. In terms of defence capabilities, the United States is one of the world’s most powerful nations. Over the forecast era, the US government’s increased efforts to combat terrorism and ensure the safety of its people are expected to boost ammunition demand in the country. Due to a rise in ammunition procurement by the armed forces or border protection forces, the defence sector accounted for the largest share of the market by application. This is due to escalating cross-border conflicts, tensions between sovereign nations, the terrorism, and growing security concerns. A substantial increase in government spending by sovereign nations to improve their military capabilities is projected to fuel ammunition demand over the forecast period. Based on product type, centerfire ammunition is expected to have a large market share. This type of weapon is commonly used in rifles, shotguns, and handguns, and is used in a variety of military operations, including hostage rescue missions. Small calibre ammunition is likely to have a large market share based on calibre. This calibre of ammunition is used in light weapons, providing the warfighter with the lethality needed to destroy the enemy. Medium and heavy machine guns are among these weapons, which are highly effective and ensure battlefield accuracy.
Key Market Players
The major players in the market are Ammo, Inc., BAE Systems, General Dynamics Corp, Northrop Grumman Corporation, Hanwha Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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