Ammunition Market Expected to Grow Substantially Owing to the Modernization of Military Capabilities Across the World

The global ammunition market is expected to grow primarily due to modernization of military capabilities. Centrefire sub-segment is expected to flourish immensely. The Asia-Pacific region is predicted to grow at a high CAGR by 2031.

As per analysis by Research Dive, the global ammunition market is expected to register a revenue of $31,717.40 million by 2031 at a CAGR of 3.9% during the forecast period 2022-2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/3619

𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Drivers: The growing demand of ammunition in military & law enforcement agencies and modernization of military capabilities of various armed forces across the world are expected to make the ammunition market a highly profitable one in the forecast period.

Restraints: High cost of production might become a restraint in the growth of the market.

Opportunities: Innovation in ammunition technology is expected to drive excellent opportunities for the ammunition market in the coming period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The ammunition market, too, was severely impacted due to the pandemic. Though the demand for ammunition from law enforcement agencies increased in the early days of the pandemic, the trend didn't last long. The disruptions in the global supply chains affected the overall production and supply of ammunitions across the world which brought down the growth rate of the market.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the ammunition market into the following segments based on product type, caliber size, application, and region.

Based on product type, the centrefire sub-segment held major market share in 2021. Centrefire cartridges are more powerful than rimfire cartridges and offer greater accuracy and range. As a result, there is an increase in demand for these cartridges which is expected to push the growth of this sub-segment further.

Based on caliber size, the small sub-segment accounted for the largest market share in 2021. The growing usage of small caliber ammunition, such as .22 LR, 9mm, and .223 Remington for a variety of applications, including recreational shooting, hunting, and self-defense is expected to augment the growth rate of the market in the 2022-2031 timeframe.

Based on application, the defense sub-segment was the most profitable in 2021. The rising need for ammunition that can support new weapon systems and combat tactics is expected to propel the sub-segment forward.

Based on region, the Asia-Pacific ammunition market held the largest market share in 2021 and is expected to be the most lucrative by 2031. The growing geopolitical tensions and increasing military modernization programs in this region are predicted to propel the market in the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/3619

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭
The major players of the market include Northrop Grumman Corporation, BAE Systems, Inc., Hanwha Corporation, FN Herstal, Rheinmetall Defense, ST Engineering, Olin Corporation, Nexter KNDS Group, Remington Arms Company LLC, and General Dynamics Corporation. These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

For instance, in November 2022, TV Ammo Inc., an ammunition technology firm, announced that it was merging with Breeze Holdings Acquisition Corp., a special purpose company formed for effecting acquisitions, mergers, and partnership. With this merger, Breeze Holdings will be renamed True Velocity Inc., and the newly formed entity will be able to expand its operations globally.

The report also summarizes several crucial aspects, such as the financial performance of key market players, SWOT analysis, product portfolio, and the latest strategic advancements.

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐒𝐞𝐚 𝐒𝐤𝐢𝐦𝐦𝐞𝐫 𝐌𝐢𝐬𝐬𝐢𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/9178/sea-skimmer-missile-market

𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐏𝐚𝐫𝐭𝐬 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/9143/aerospace-parts-manufacturing-market

𝐁𝐨𝐝𝐲 𝐀𝐫𝐦𝐨𝐫 𝐏𝐥𝐚𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/8753/body-armor-plates-market

𝐅𝐥𝐚𝐬𝐡 𝐁𝐚𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/8687/flash-bang-market

𝐂𝐨𝐧𝐭𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/5537/content-marketing-software-market

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