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Ammunition Forwarding Market 2023 Business Insights, Growth Outlook, Key Trend And Forecast To 2032
Ammunition Forwarding Market
The Business Research Company's Ammunition Forwarding Global Market Report 2023 identifies growing personal safetyas the major driver for the Ammunition Forwarding market's growth in the forecast period. The increasing terrorist activities, mass shootings, increasing gangster activities, and increasing awareness for self-defense are the main reasons for the growing personal safety concerns while the rising awareness about the safe use of guns is the main reason for increasing shooting ranges. These growing personal safety concerns and increasing shooting ranges have led to the increased procurement of small caliber ammo for personnel safety.
The global ammunition market size grew from $25.6 billion in 2022 to $27.48 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ammunition market size is expected to grow to $34.94 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the Ammunition Forwarding market are Northrop Grumman Corporation, General Dynamics Corporation, CBC Global Ammunition, Olin Corporation, Ruag Ammotec.
A key trend in the Ammunition Forwarding market includes develop advanced ammunition. Key players and related stakeholders are increasingly focusing on research and development activities to advance the ammunition. The rising incidences of armed international conflicts have directed several countries to enhance their military strengths through the procurement of advanced ammunition and equipment. As a result of this, the defense expenditure for ammunition procurement and R&D activities has increased significantly across the globe over the past few years.
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The Ammunition Forwarding market is segmented -
• By Product: Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars
• By Caliber: Small, Medium, Large, Other Calibers
• By Guidance Mechanism: Non-guided, Guided
• By Application: Defense, Less-lethal
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Ammunition Forwarding market.
The Business Research Company's "Global Ammunition Forwarding Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Ammunition Forwarding Market Include:
1. Executive Summary
2. Ammunition Market Characteristics
3. Ammunition Market Trends And Strategies
4. Ammunition Forwarding Market - Macro Economic Scenario
5. Ammunition Market Size And Growth
………………………………………………………..
26. Africa Ammunition Market
27. Ammunition Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ammunition Market
29. Ammunition Market Future Outlook and Potential Analysis
30. Appendix
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