Global Ammunition Market is Estimated to Reach $27 Billion by 2025, Says Accurize Market Research
Global Ammunition Market report published by Accurize Market Research forecast that the global market is expected to reach $27 billion by 2025 from 17 Billion in 2017; growing at a CAGR of 6.1% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of 6.8% and 6.1%, respectively, during the forecast period.
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Increased government spending on military to drive the market
Increased spending by government on military ammunition and rising threats from terrorist and cross-border disputes fuels the demand for the global ammunition market. Moreover, the growing popularity of shooting as a sports activity and rising demand for ammunition used for training the various armed forces also boosts the growth of the market.
The global Ammunition market is segmented based on the type, caliber, application and geography. By type, it is further segmented into full metal jacketed, tracer, incendiary, armour piercing and others. Caliber can be segmented into small caliber, medium caliber, mortar ammunition, artillery ammunition and shotgun shells. Furthermore, application is segmented into military, law enforcement and commercial.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Full metal jacketed accounted for the largest market share in the type segment", says Accurize
By type, full metal jacketed holds the major share with 47.5%, a common bullet type that is used for target shooting at ranges, shooter and hunter, followed by tracer with 14.7%, in 2016. By caliber segment, small caliber and artillery ammunition accounted for 28.3% and 26.3% respectively, in the year 2016. By applications, military hold the half of share in the global ammunition market due to ceasefire violations, terrorist attacks, cross border disputes and among others, followed by law enforcement with 25.3% share in 2016.
"Europe dominated the global market with the highest market share over the forecast period", says Accurize
Asia Pacific is the fastest growing region in the global Ammunition market, and is expected to continue this trend due to increasing defense budget, rising presence of terrorism and increased participation in sports activities. Europe accounts the largest share of the market with 30.78% followed by North America with 30.5%, in the year 2016.
Top players in the market
The key market players include BAE Systems, General Dynamics Corporation, Nammo AS, Maxam, Federal Premium Ammunition, Olin Corporation, Remington Arms Company, Inc., RUAG Holding A.G., Orbital ATK Inc., Fiocchi Munizioni S.p.A., Hornady Manufacturing Company, Inc., and Remington Arms Company.
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