Sales of Functional Fitness Equipment Is Projected to Exhibit a Compound Annual Growth Rate At CAGR Of 5.8% by 2033

According to a recently published Fact.MR report, the global ammunition market is expected to grow at a CAGR of more than 5.7% by 2033, reaching an impressive valuation of US$ 35 Bn. Defense spending has been identified as the primary growth driver.

Demand is being driven primarily by increased defense spending to counter external aggression. Another driving factor for ammunition manufacturers is the development of lightweight bullets with polymer casings. Demand for Centerfire ammunition is expected to skyrocket, accounting for more than 2/3rdof total revenue by 2023, making it the gold standard for the defense industry.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:- https://www.factmr.com/connectus/sample?flag=S&rep_id=4535?PJ

The global ammunition market is expected to grow 1.5x between 2022 and 2032, owing to increased participation in sports shooting. Ammunition manufacturers are investing in product development, such as lightweight bullets with polymer casings, which are gaining popularity among government agencies and consumers. Furthermore, rising political tensions will increase demand for developing economies to upgrade their defense capabilities in order to combat geopolitical insurgencies.

Key Takeaways from the Market Study

• Centerfire ammunition will be the most in demand, accounting for 66% of global revenue.
• Rockets and missiles will continue to be a key caliber category, growing at a CAGR of 3%.
• Defense ammunition will be the primary application area, accounting for 50% of revenue.
• The United States will be the most opportunistic market, accounting for more than one-third of total ammunition demand. East and South Asia will grow at CAGRs exceeding 3.1% and 3.5%, respectively, until 2033.
• Germany will drive demand in Europe, growing at a CAGR of 3% until 2033.

"Rising uncertainties in the international political arena, combined with increasing geopolitical and security threats, are prompting countries to increase defense spending, resulting in increased demand for ammunition on a broader scale," says the Fact.MR analyst.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• General Dynamics Corporation
• BAE Systems PLC
• Rheinmetall AG
• Elbit Systems Ltd
• Nexter Group.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: https://www.factmr.com/connectus/sample?flag=RC&rep_id=4535?PJ

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

• by Caliber

• Small Caliber

• 5.56 mm
• 7.62 mm
• 7.62 x 51 mm
• 7.62 x 39 mm
• 9 mm
• 9 x 18 mm
• 9 x 19 mm
• Others

• Medium Caliber
• 23 mm
• 30 mm
• Others

• Large Caliber

• VSHORAD
• 122 mm
• Others

• Rockets, Missiles and Others
• Tank
• Artillery

• by Type
• Rimfire
• Centerfire

• by Application

• Civil & Commercial
• Sports
• Hunting

• Self Defense
• Defense
• Military
• Law Enforcement

• by Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Competitive Landscape

Companies use collaborative strategic initiatives to increase their market share and profitability. They are also acquiring start-ups that are developing technologies in order to strengthen their product capabilities. Among the leading players in the ammunition market are General Dynamics Corporation, BAE Systems PLC, Rheinmetall AG, Elbit Systems Ltd, and Nexter Group. These players are focusing on a variety of strategies to broaden their product offerings and strengthen their geographic presence. New players are expected to enter the market as technology advances.

• For example, in July 2021, BAE Systems and the Ministry of Defence (MOD) signed a contract worth approximately £250 million to advance the design and development of Tempest, the UK's Future Combat Air System (FCAS).

𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐈𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭: https://www.factmr.com/checkout/4535

More Insights Available

Fact.MR, in its new report, offers an unbiased analysis of the global ammunition market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032.

The study reveals growth projections on the ammunition market on the basis of caliber (small caliber ammunition, medium caliber ammunition and large caliber ammunition, rockets, missiles and others), type (rimfire ammunition and centerfire ammunition) and application (civil & commercial and self-defense) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐅𝐚𝐜𝐭.𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: https://www.globenewswire.com/news-release/2022/09/29/2524890/0/en/High-Replacement-Rate-of-Halogen-with-LEDs-Paving-Revenue-Generation-Opportunities-for-Airfield-Ground-Lighting-Suppliers-States-Fact-MR.html

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This release was published on openPR.