Ammunition Market Growth by Size 2020 - Opportunities by Regions, Emerging Demand Status, Development Share, Progress Status, Key Technologies Forecast to 2027
The global ammunition market size is
set to gain momentum from the increasing usage of 9mm cartridge as compared to
the other calibers. It is mainly occurring because of the ongoing technological
advancement, as well as its ability to perform in a versatile way. This
information is provided by Fortune Business Insights™ in a
recent report, titled, “Ammunition Market Size, Share & COVID-19
Impact Analysis; by Application (Military & Homeland Security, and Civil
& Commercial) By Caliber (Small, Medium, and Large) By Product (Bullets,
Aerial Bombs, Grenades, Mortars, Artillery Shells, and Others), By Component
(Fuses& Primers, Gun Powder, Projectile, Cases, and Others) By Guidance
(Guided, and Non-Guided) By Lethality (Lethal, and Less-Lethal) and Regional
Forecast, 2020-2027.” The report further mentions that the global
market size was USD 25.46 billion in 2019 is projected to
reach USD 29.96 billion by 2027, exhibiting a CAGR of 1.71%
during the forecast period from 2020 – 2027.
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Highlights of This Report:
- In-depth information regarding the growth drivers, trends, and
barriers.
- Insights of the top companies operating in the market.
- Extensive analysis of all the segments present in the market, as
well as their shares.
- Elaborate details about the competitive landscape including
investments, novel product launches, mergers and acquisitions, agreements,
contracts, and strategic collaborations.
Drivers & Restraints:
Increasing Political Unrest to
Accelerate Growth
Ammunitions are majorly utilized in
rifles, shotguns, and handguns with a wide range of calibers. The rising cases
of mass shooting, as well as increasing terrorist activities are further
resulting in the need for personal safety. It is thereby surging the demand for
handguns worldwide. Apart from that, the increasing number of shooting ranges
for recreational and sports activities would augment the ammunition market
growth during the forecast period. Besides, the rising political unrest,
increasing fear owing to stringent gun control norms, and expansion of the
shooting range industry would contribute to the growth of the market.
Many Countries Ban Sales of Ammunition
Owing to Covid-19 Pandemic
As per our research, in the U.S., the
sales of ammunition and guns have surged since March 2020. Amongst the
consumers, many of them are first-time gun buyers who fear of the sudden change
in social order owing to the outbreak of the Covid-19 pandemic. Some of the
other gun buyers are tensed about the fact that the U.S. government may
implement stringent norms and regulations regarding the purchase of projectiles
because of the spread of coronavirus infection. However, several other
countries have banned the purchase of ammunition for recreational purposes and
sports shooters.
Segment:
Military & Homeland Security Segment to Lead Stoked by Military
Modernization Initiatives
In terms of application analysis, the
market is bifurcated into military & homeland security and civil &
commercial. Amongst these, the military & homeland security segment held
65% ammunition market share in 2019. It is likely to remain at the forefront in
the coming years backed by the rising demand for munitions from the military
forces worldwide owing to increasing upgradation initiatives, cross border
conflicts, and political unrest in various countries.
Regional Analysis-
Increasing R&D Activities to Favor
Growth in North America
In terms of geography, North America
generated USD 13.76 billion revenue in 2019 and is set to be the largest market
in the near future. This growth is attributable to the rising adoption of
innovative projectile in the U.S. Army.
Besides, the rising government
expenditure on research and development activities would aid growth. Coupled
with this, the rising insecurity amongst the populaces owing to the outbreak of
Covid-19 pandemic is surging the sales of guns in this region. It would also
augment growth. In Asia Pacific, the market is likely to grow significantly
fueled by the expansion of the military forces in countries, such as South
Korea, India, and China. Additionally, an upsurge in the military upgradation
program and high defense expenditure would bolster growth in this region.
Competitive Landscape-
Key Players Aim to Receive New Orders
for Strengthening Their Positions
The prominent companies operating in
the market are mainly engaging in research and development activities to launch
new multi-purpose and lightweight lethal munitions. They are also focusing on
bagging new orders from the government agencies and other regulatory bodies to
strengthen their positions.
Fortune Business Insights™ lists out
the names of all the manufacturers present in the Ammunition Market. They are
as follows:
- BAE Systems (United Kingdom)
- CBC Global Ammunition (Brazil)
- Denel SOC Ltd (South Africa)
- General Dynamics Corporation (United States)
- Nammo AS (Norway)
- Nexter group KNDS (France)
- Northrop Grumman Corporation (United States)
- Olin Corporation (United States)
- Poongsan Corporation (South Korea)
- RAUG Group (Switzerland)
- Thales Group (France)
- Vista Outdoor, Inc. (United States)
Browse Detailed Research Insights with
Table of Content:
https://www.fortunebusinessinsights.com/ammunition-market-103481
Below are two of the significant
industry developments:
- September 2017: Black
Hills Ammunition, a reloading supply manufacturing company based in South
Dakota, received a contract worth USD 50 million from the U.S. Army to
deliver its ammunition to the latter. The contract includes the delivery
of 5.56mm long-range projectile for the U.S. combat forces.
- April 2015: Orbital ATK, a provider of affordable
precision weapons, military, and satellite components, headquartered in
Virginia, bagged international and domestic contracts for target and
tactical practice large- and medium-caliber projectile worth USD 120
million. The medium calibers include a wide range of products for LW30mm,
30mm, 25mm, and 20mm projectiles for usage in sea, land, and air
platforms.
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Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-ammunition-market-10175
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