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Small Caliber Ammunition Market Potential Analysis, Key Drivers, Emerging Growth, Trends And Forecast To 2032
Small Caliber Ammunition Market Analysis
The Business Research Company's Small Caliber Ammunition Global Market Report 2023 identifies rising military spending as the major driver for the small caliber ammunition market's growth in the forecast period. Military expenditure is the sum of money a country spends to build and sustain its armed forces or other defense-related strategies. The military's expenditure on small-caliber ammunition guarantees that the armed forces have access to ammunition that can engage targets precisely, effectively, and with enough firepower, which enhances soldiers' efficiency on the battlefield.
The global small caliber ammunition market is expected to grow from $9.59 billion in 2022 to $9.9 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 small caliber ammunition market is expected to reach $11.32 billion in 2027 at a CAGR of 3.5%.
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Major competitors in the small caliber ammunition market are General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, Olin Corporation, Elbit Systems Ltd., Norma Precision AB.
A key trend in the small caliber ammunition market includes investments in small-caliber ammunition. Major companies operating in small-caliber ammunition were awarded few contracts with huge investments for producing small-caliber ammunition. For instance, in June 2022, the U.S. Department of Defense (DOD), a US-based government agency awarded $51.8 million for modifying the existing contract and manufacturing 5.56 mm, 7.62 mm, and .50 caliber ammunition. Furthermore, in November 2020, the UK Ministry of Defense (MOD), a UK-based government department awarded US$3.2 billion(£2.4bn) for the supply of munitions to the UK Ministry of Defense (MOD). This contract is named Next Generation Munitions Solution' (NGMS), which includes manufacturing small-arms ammunition, mortars, medium caliber gun rounds, and heavy artillery rounds.
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The small caliber ammunition market is segmented -
1) By Caliber: 5.56 MM, 7.62 MM, 0.50 BGM, 9 MM, Other Calibers
2) By Bullet Type: Lead, Copper, Brass, Other Bullet Types
3) By Gun Type: Pistols, Rifles, Shot Guns
4) By End-User: Military, Homeland Security, Law Enforcement Agencies
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the small caliber ammunition market.
The Business Research Company's "Global Small Caliber Ammunition 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 Small Caliber Ammunition Market Include:
1. Executive Summary
2. Small Caliber Ammunition Market Characteristics
3. Small Caliber Ammunition Market Trends And Strategies
4. Small Caliber Ammunition Market - Macro Economic Scenario
………..
32. Global Small Caliber Ammunition Market Competitive Benchmarking
33. Global Small Caliber Ammunition Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Small Caliber Ammunition Market
35. Small Caliber Ammunition Market Future Outlook and Potential Analysis
36. Appendix
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