Ammunition Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2016 – 2025
Global Ammunition Market size is projected to be valued $27 Billion by 2025; with a CAGR of 6.1% from 2017 to 2025. Ammunitions or cartridges are used in an assortment of firearms ranging from short pistols to heavy automatic weapons. Standardized specifications for the size, shape and ballistic performance have been set for the majority of military and civilian ammunition. R&D is being conducted to develop smart ammunition and updated ammunition management system with improved cyber attack resistance.
Increased spending by government on military ammunition and rising threats from terrorist and cross-border disputes fuel 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. However, lead-based ammunition used for hunting and shooting would pose danger to the environment and toxic to wildlife and decreased spending on defense budget by few developed countries could pose a challenge for the market. Furthermore, green bullets, non-lethal weapons, and ammunition, would provide opportunity growth for the market in the upcoming year.
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, the 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.
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.
The key takeaways from the report
Scope of the Global Ammunition Market