Terrorism and transnational disputes are the key factors pushing the global ammunition market. Increasing security concerns towards such terrorist attacks will result in increasing procurement of armaments and ammunitions globally. The necessity of technologically equipped artillery in defense force is rising at a high pace, which in a way will provide a potential growth in the ammunition industry.
According to Global Market Insights Inc., Ammunition market worth over USD 9 billion in 2015, is projected to grow at an annual rate of 2.8% over the period 2016-2025. Unfavorable status and recurring tension across borders are propelling the heaping of arms and weapons.
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Based on application, ammunition market is majorly segmented into civil and defense sectors. Defense ammunition market is expected to dominate with a steady annual growth rate of 2% over 2016-2025, with a contribution of 50% of the total ammunition industry share by 2025.The Ministry of Defense, India is encouraging the private sector ammunition industry players to capitalize heavily on weaponry, which will, in turn, propel the regional ammunition industry.
In terms of caliber, the ammunition market is categorized into artillery, small caliber, medium sized caliber, large caliber, and mortar. A major shift in public outlook towards shooting, hunting, and increased investments in the military sector will augment small caliber ammunition market by multiple folds over the coming years.
The defense sector is majorly influenced by artillery and mortar ammunitions. Additionally, progressions of non-lethal ammo such as wax bullets, beanbag rounds, plastic bullets, etc. will meet the rising concentration on recreational activities. Small caliber ammunition market accounted for a revenue of 45% of the total volume and is predicted to continue its dominance over the coming eight years.
Taking into account the global trends, Asia Pacific dominated by Japan, India, and China ammunition industry, had the highest market share of 28% of the total volume and is expected to continue a steady growth over the period 2015-2025.To deal with the external and internal conflicts in countries across APAC heavy investment in the defense sector is being made. This growing concerns toward security issues will positively impact APAC ammunition market. The US is considered to be the production hub for ammunitions, owing to its consistent demand for shooting games, firearms, and accessories.
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According to a report by Stockholm International Peace Research Institute in 2015, Russia, China, US, and Saudi Arabia are the top four among the key investing regions on ammunitions. Furthermore, advancement in technology to empower defense sector will draw huge investments in the ammunition market globally over the coming years.
General Dynamics Corporation, Nammo As, Olin Corporation, CCL, BAE systems are some of the notable players in the ammunition market worldwide.
Browse key industry insights spread across 110 pages with 88 market data tables & 60 figures & charts from this 2017 report Ammunition Market in detail along with the table of contents:
Ammunition market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2025, for the following segments:
Ammunition Market by caliber
- Small Caliber
- Medium Caliber
- Large Caliber
Ammunition Market by application
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin AmericaMEA
- Saudi Arabia
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