Ammunition can be defined as the material which is fired, scattered, dropped or detonated by means of any weapon. These ammunitions can be in the form of bombs, rocket, shots, shrapnel, bullets and shells. The human race has a long history of wars and use of ammunition has been one of the key factors which have impacted a great many wars significantly from time to time. Conflicts amongst different countries across the globe, rising terrorist activities and domestic instability in poor countries have resulted in an increase in demand for ammunition. An application such as defense and public safety make extensive use of ammunition for maintaining peace, law, and order. In addition, ammunition is also used for sports and hunting applications which include firearms. Thus the demand for ammunition has witnessed a significant growth from past many years.
Upgradation of previously existing and the introduction of new firearms has promoted the development of modern ammunitions. Present day ammunition is capable of high destruction at different levels according to the firearms in which they are going to be applied. Ammunition manufacturing companies are striving to develop improved ammunition in order maintain their market positions. Consistent rise in terrorist activities in the region of Asia Pacific, Europe, and North America have encouraged the use of more ammunition. Public safety services, homeland security services, and local forces across different countries also use firearms time-to-time in order to sustain law and order. Many countries such as the U.S. promotes sports hunting which again includes the use of ammunition. Sports involving firearms are one of the major contributors in modern day ammunition market. All the above-cited factors are promoting global ammunition market and is further expected to grow at a significant rate in the following years.
The report titled “Ammunition Market- Growth, Future Prospects and Competitive Landscape, 2023-2030 offers strategic insights into the global ammunition market with a focus on the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on caliber, end-use and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2021 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.
In order to help strategic decision makers, the report also includes competitive profiling of the leading ammunition manufacturers, their strategies, market positioning and key developments. Some of the major players profiled in the report include General Dynamics Corporation, Magtech Ammunition Company, Inc., Remington Arms Company, Inc., Denel PMP, Ruag Ammotec, Maxam, Global Ordnance, Federal Premium Ammunition, Hornady Manufacturing, BAE Systems, Poongsan Corporation and Nexter Munitions. Other in-depth analysis provided in the report includes:
As of 2020, small caliber which generally includes bullets for small firearms and handguns is the largest segment, in terms of revenue, of the overall ammunition market worldwide. Small caliber bullets are extensively used by both defense and public safety agencies for maintaining law and order. The perpetually rising crime rate in many countries across the globe has boosted the demand for small caliber bullets and is further expected to rise considerably in the following years.
Medium caliber ammunition segment trails small caliber ammunition segment in terms of revenue, as of 2020. Medium caliber ammunition is used for small rifles and sub-machine guns. Such firearms are used for defense and special task forces application. In addition, such ammunition is also used for hunting sports and sports involving firearms. With the persistent promotion of shooting sports involving firearms, the demand for medium caliber ammunition is rising at a considerable rate. Consequently, the market for medium caliber ammunition is expected to demonstrate a steady growth during the forecast period.
As of 2020, public safety is the most dominating segment in the overall end-use segment for ammunition market. Small and medium caliber firearms are extensively used by the public safety services which include homeland securities, polices forces, task forces and private security services. Annual consumption of ammunition is more for public safety when compare with defense and other end-use. With consistent rise in crime rate and increasing threat to the public safety, the demand for ammunition to maintain order is expected to rise at the same rate. Consequently, the public safety end-use is expected to maintain its dominance during the forecast period.
Defense segment trails the public safety segment in terms of revenue, as of 2020. Rising conflicts between countries across the globe have forced the government of these countries to expand their war capabilities. In accordance to increase their war capabilities, the governments are undertaking large procurement of ammunition. This has boosted the demand for ammunition and expected the market is expected to demonstrate consistent growth in the following years.
Asia Pacific dominates the overall ammunition market in terms of revenue, as of 2020. The market here is backed by a growing conflicts between the many nations. Asia Pacific is the second most ammunition producing region. Countries here are striving continuously in order to strengthen their war capabilities. Consequently, the demand of ammunition in this region is expected to grow even further.
In 2020, North America trails the overall ammunition market. North America especially the U.S. is the largest arms and ammunition manufacturing region. Many people across this region are allowed to carry personal weapon. In addition, rising criminal and terrorist activities have boosted the overall demand for ammunition in this region. Furthermore, high popularity of sports involving firearms has been promoting the ammunition market in this region.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ammunition market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Caliber
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End-use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
