Military Ammunition Market Global Outlook, Industry Share, Types, Trends and Forecast (2021 – 2030) | Hornady, Lockheed Martin, Nammo AS, Nexter group KNDS, Northrop Grumman Corporation.

Absolute Markets Insights issued new statistical data titled as Military Ammunition market. The report gives a detailed description of factual records in addition to a penetrative insight into existing strategies along with future predictions. The report scrutinizes market scope by means of primary and secondary research techniques, used to provide effective data to make ensure erudite business decisions. In terms of revenue, the global military ammunition market was valued at US$ 15,708.6 Mn and is expected to reach US$ 21,287.0 Mn, growing at a CAGR of 3.5% over the forecast period.

The military ammunition market is expected to gain a significant lift with the modernization initiatives carried out by major countries across the globe. Modernization is a continuous process for any army, which includes fundamental changes in the material capacities to accomplish all the strategic objectives. The increasing number of countries seeking to satisfy the requirement of domestic defense industries is expected to propel the growth of global military ammunition market over the forecast period. For instance, Northrop Grumman, a global security company providing innovative systems, products and solutions to government and commercial customers, entered into a contract with U.S. Air Force to modernize their GPS/INS system.

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Under this contract, Northrop Grumman provided the architecture design for hardware and software for the Embedded GPS/Inertial Navigation System (INS) –Modernization. The military forces are constantly aiming at increasing the qualitative levels through the technological transformation into the forces. Hence, similar investment initiatives undertaken by government authorities is anticipated to drive the growth of global military ammunition market in the forecast period.

Modernization involves the replacement of an existing technology used in the military, usually a weapon, platform, or system, with one that is significantly more capable. To attain a substantial increase in military effectiveness, the new ammunitions are being adopted by defense organizations across the globe. The United States and China being the world's biggest military spenders are constantly undertaking reforms to modernize and strengthen their warfighting capabilities. The demand for military ammunition is anticipated to be driven by rapid technological advancements along with the growing need for command, control, communications, computer intelligence, surveillance and reconnaissance (C4ISR), sustainability, survivability, mobility and lethality solutions among military forces. Moreover, recent years have witnessed a transformation in the ammunition market, due to its increasing use in the Iraq, Afghanistan, Serbia, and Libya wars.

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Moreover, the nuclear proliferation being carried out by Iran has intensified military tensions between Iran, the US, and Israel. Therefore, the growing need for an effective counter-insurgency is forecasted to propel the growth of the military ammunition market over the next eight years. The rapidly evolving battlefield scenarios are currently stimulating growth in the global military ammunition market. The warfare is facing various combat challenges including urban warfare, asymmetric conflicts, and peacekeeping operations. Moreover, the military forces are faced with a wide variety of threats such as arms fire, IEDs, and attacks from rocket-propelled grenades. Furthermore, modernization of military forces with high technology including artificial intelligence, robotics, nanotechnology, non-lethal weapons, and directed energy weapons is anticipated to influence the growth of the global military ammunition market over the forecast period.

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Key Findings of the Report:
• In terms of revenue, the global military ammunition market is expected to reach US$ 21,287.0 Mn by 2027 owing to rapidly evolving battlefield scenarios across territories.
• On the basis of product, the bullets segment in the global military ammunition market accounted for the major share in 2018 owing to its increasing end-use by civilians.
• On the basis of category, the full metal jacket segment is anticipated to grow at the highest CAGR owing to its growing demand in military applications.
• Some of the players operating in the global military ammunition market BAE Systems, Black Hills Ammunition Inc., CBC Global Ammunition, Federal Ammunition, General Dynamics Ordnance and Tactical Systems, Hornady, Lockheed Martin, Nammo AS, Nexter group KNDS, Northrop Grumman Corporation, Olin Corporation, Poongsan Corporation, Rheinmetall AG, VISTA OUTDOOR OPERATIONS LLC., RUAG Group among others.

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