Ammunition Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights
AmmunitionMarket will exhibit a CAGR of 1.71% during the forecast period from 2020–2027, andreach USD 29.96 billion by 2027, and the Market value as per 2019was USD 25.46 billion.
Fortune Business Insights™ in anew report, titled, “AmmunitionMarket 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, ArtilleryShells, 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.”
AmmunitionMarket Driversand Restraint:
GrowingPersonal Safety Concerns and Increasing Shooting Ranges is Propelling Market Growth
Ammunition is mostly used inhandgun, shotgun, and rifles with different calibers. Increasing procurementof small caliber ammo by civilians for personal safety and thegrowing number of shooting ranges would drive the growth of the market. Increasingterrorist activities and mass shooting incidence are leading to increasedpersonal safety, which, in turn, is creating demand for handguns. Expansion ofthe shooting ranges industry due to fears of terrorism increased fears overstricter gun control laws, and political rhetoric would propel the growth ofthe market.
PoliticalConflicts, Geopolitical Tensions, and Cross Border Issues in Various Countriesto Drive Growth
Growing incidence ofgeopolitical tensions, political unrest, and cross border conflicts, especiallyin the Middle East and Asian countries, would lead to the strengthening of themilitary forces. The expansion of the military and increased procurement of small,medium, and large-caliber ammunition would drive the growth of the globalmarket. Large caliber ammo is mostly used in defense forces for combatoperations in several countries such as Japan, Russia, South Korea, and others.Furthermore, manufacturers are increasing spending on R&D activities todevelop technically advanced ammo, thus propelling the market growth.
List ofKey Players Covered in the Ammunition Market Report:
- BAE Systems (The U.K)
- CBC Global Ammunition (Brazil)
- Denel SOC Ltd (South Africa)
- General Dynamics Corporation (The U.S.)
- Nammo AS (Norway)
- Nexter group KNDS (France)
- Northrop Grumman Corporation (The U.S.)
- Olin Corporation (The U.S.)
- Poongsan Corporation (South Korea)
- RAUG Group (Switzerland)
- Thales Group (France)
- Vista Outdoor, Inc. (The U.S.)
Togain more insights into the market with a detailed table of content andfigures, Click Here: https://www.fortunebusinessinsights.com/ammunition-market-103481
Someof the key industry developments in the Ammunition Market Include:
- April 2015 - Orbital ATK signed a contract with the U.S. Army for tactical and target practice large and medium caliber ammo valued USD 120 million. The medium-caliber ammo orders included a range from 20mm, 25mm, 30mm to LW30mm ammo for multiple services for use with air, sea, and land weapons platforms
- January 2020- Elbit Systems Ltd. signed a five-year contract with the Israeli Ministry of Defense (IMOD) of worth USD 144 million for the supply of ammo to the country’s military forces.
ReadPress Release:
https://www.fortunebusinessinsights.com/press-release/global-ammunition-market-10175
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