Press release
Ammunition Market Top Key Players - BAE Systems PLC, Rheinmetall AG, Elbit Systems Ltd, Nexter Group, General Dynamics Corporation, Nammo AS, RUAG Group, Singapore Technologies Engineering Ltd, Denel SOC Ltd, Northrop Grumman Corporation
Factors such as the modernization of military forces, the changing character of combat, the militarization of police forces, the rising prevalence of drug trafficking and terrorist operations, and the changing nature of conflict are expected play a substantial role for the growth of global ammunition market. To meet future demand, firms are investing in the research and development of new and improved munitions that will allow users to deploy fire-and-forget munitions while increasing weapon lethality and area of impact.
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The countries are making significant investments to improve their domestic ammunition production capacity. Early distinctive munition development plans and domestic production capabilities in each of the key procuring countries are projected to benefit players, as these countries work on building indigenous models for both domestic and international consumption, slowly but surely acquiring market share.
Geographically, the global ammunition market is divided into five regions: North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America, Europe, Asia Pacific, the Middle East, and the rest of the world make up the ammunition market. During the forecast years, North America is estimated to be the leading market in the global arena of ammunition market. This increase can be ascribed to increased research and development spending as well as the acquisition of modern munitions from the US army. The regions of Asia Pacific, Europe and Middle East & Africa will also showcase a significant growth in global ammunition market due to increasing defense expenditure and military modernization programs.
The ammunition market is fragmented, with numerous international and domestic ammunition manufacturers. Some of the major ammunition companies profiled in the report include BAE Systems PLC, Rheinmetall AG, Elbit Systems Ltd, Nexter Group, General Dynamics Corporation, Nammo AS, RUAG Group, Singapore Technologies Engineering Ltd, Denel SOC Ltd, Northrop Grumman Corporation, MESKO SA, CBC Global Ammunition, Indian Ordnance Factories, Saab AB, Hanwha Corporation, ARSENAL JSCo., ASELSAN AS, and other players.
These companies have used a range of growth strategies to strengthen their market position. These firms' key growth strategies are expansion, new product development, mergers and acquisitions, and collaboration in order to improve their product variety and geographical presence in order to meet the rising demand for ammunition in emerging areas.
The global ammunition market is segmented into application, caliber, product, guidance mechanism, lethality, and region. Based on application, it is segmented into defense and civil & commercial. The defense sector is further divided into military and homeland security. On the other hand, the civil & commercial sector is categorized into sporting, hunting, self-defense, and others. Based on caliber, the market is divided into small, medium, large, and others types of calibers. The small caliber sector is further bifurcated into 9mm, 5.56mm, 7.62mm, 12.7mm, .338 lapuamagnum, .338 normamagnum, 14.5mm, and others (small caliber). The medium caliber sector is segmented into 20mm, 25mm, 30mm, and 40mm calibers. The large sector is categorized into 60mm, 81mm, 120mm, 151mm, and others (large calibers). Based on product, the market is bifurcated into bullets, aerial bombs, grenades, artillery shells, and mortars. Based on guidance mechanism, it is divided into non-guided and guided. Based on lethality, the market is segmented into lethal and no-lethal sectors.
The global ammunition market is analyzed across into North America (the United States, Canada), Europe (Germany, the United Kingdom, France, and Rest of Europe), Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific),Latin America (Brazil, Argentina, and Rest of Latin America), The Middle East and Africa (South Africa, Saudi Arabia, Israel, and Rest of Middle East& Africa).
Key Insights of Ammunition Market
• The report examines the existing and emerging trends and dynamics in the worldwide ammunition market.
• The global ammunition market research study examines the market in depth, focusing on key areas like competitive landscape, application, caliber type, product, guidance mechanism, lethality and end use.
• On the basis of application, the defense sector is more likely to grow at a fast paced CAGR as the countries now are keen to strengthen and modernize their armed forces with generous expenditure in the respective segment.
• On the basis of lethality, the lethal sector has the lion's share of the market. Individuals use lethal ammunition after receiving authorization from the appropriate authorities. Because of rising demand from law enforcement and the military, the less-lethal category is expected to rise significantly during the projection period.
• On the basis of product, the bullets category has the highest market share and will maintain its dominance during the projection period. The increase can be ascribed to rising defense spending, rising political disputes, and the development of innovative products.
• On the basis of guidance mechanism, the non-guided category accounts for the majority of the ammunition market. The increased usage of standard non-guided projectiles for military exercises by the armies around the world is ascribed to the expansion.
• On the basis of region, North America is projected to grow at the highest CAGR and hold maximum of the global ammunition market in the forecasted period, followed by Asia Pacific, Europe, Middle East & Africa, and Latin America.
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