Press release
Small Caliber Ammunition Global Market Anticipated to Attain $11.79 Billion By 2028, at 3.3% CAGR | BAE Systems PLC, Olin Corporation, Elbit Systems Ltd., Nosler Inc., Sierra Bullets LLC
Small Caliber Ammunition Market
As per the report, the small caliber ammunition market size has grown steadily in recent years. It will grow from $9.99 billion in 2023 to $10.36 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The small caliber ammunition market size is expected to see steady growth in the next few years. It will grow to $11.79 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%.
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Small Caliber Ammunition Market Growth Fueled By Escalating Military Expenditure
Rising military spending is expected to propel the growth of the small-caliber ammunition market going forward. 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. For instance, in June 2022, according to the Office of the Parliamentary Budget Officer, a Canada-based intergovernmental organization, total military spending is expected to increase from $36.3 billion in 2022-2023 to $51.0 billion in 2026-2027. Therefore, rising military spending drives the growth of the small-caliber ammunition market.
Investments Propel Growth In The Small Caliber Ammunition Sector
Investments in small-caliber ammunition are a key trend gaining popularity in the small-caliber ammunition market. 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.
The small caliber ammunition market covered in this report 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
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Major companies operating in the small caliber ammunition market report are General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, Olin Corporation, Elbit Systems Ltd., Norma Precision AB, Remington Arms Company LLC, FN Herstal SA, Nammo AS, Denel SOC Ltd., Fiocchi Munizioni SPA, RUAG Holding AG, Savage Arms, Hornady Manufacturing Company, Nosler Inc., ARSENAL JSCO, Armscor Precision, Sellier & Bellot, Sierra Bullets LLC, Black Hills Ammunition, Barnes Bullets LLC, CBC Global Ammunition, Winchester Ammunition Inc., Liberty Ammunition Inc., PMC Ammunition, Estate Cartridge Inc., Wolf Performance Ammunition, Magtech Ammunition Company Inc., Aguila Ammunition, Prvi Partizan A.D.
Contents of the report:
1. Executive Summary
2. Small Caliber Ammunition Market Report Structure
3. Small Caliber Ammunition Market Trends And Strategies
4. Small Caliber Ammunition Market - Macro Economic Scenario
5. Small Caliber Ammunition Market Size And Growth
…..
27. Small Caliber Ammunition Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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