The global ammunition market was valued at US$ 19.2 Billion in 2021, and is projected to register a Y-o-Y increase of 4.16% in 2022 to be valued at US$ 20 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 5.7% value CAGR, likely to reach US$ 35 Billion by the end of the said forecast period.
Demand is being driven primarily by increased defense spending to counter external aggression. Another driving factor for ammunition manufacturers is the development of lightweight bullets with polymer casings. Demand for Centerfire ammunition is expected to skyrocket, accounting for more than 2/3rdof total revenue by 2020, making it the gold standard for the defense industry.
Several new weapon and ammunition development programmes are also underway in order to develop lighter but more lethal ammunition with a greater range. Such developments are being aided by the rapid advancement of technology. The demand for advanced weapons and related ammunition comes primarily from Europe and Asia-Pacific countries, which is either replacing ageing equipment or expanding their inventory to strengthen their armed forces.
Download Free Sample Copy of this Report:https://www.factmr.com/connectus/sample?flag=S&rep_id=4535
Key Challenges Prevalent in the Global Ammunition Market
Budget Cuts in Europe and the United States are expected to restrain Global Ammunition Market Growth over the Forecast Period.
Significant budget cuts have occurred in developed regions such as Europe and the United States. This has had an impact on the military budget and, as a result, the ammunition market. For example, in 2012, US military spending fell from $711 billion to $668 billion.
As a result of such budget cuts, countries find it difficult to stay current through mediums such as modernization programmes. As a result, these factors are expected to limit the global ammunition market’s growth during the forecast period.
Country-wise Analysis
What is the Growth Outlook for Ammunitionis the U.S?
Considerable Investments in Military and Armed Forces Enhancements assisting Market Growth
The United States government has been making significant investments in military and armed forces enhancements, which is supporting the country’s market growth. The United States will generate more than 33% of total ammunition demand. A CAGR of 4% is anticipated for the market in the U.S.
In May 2021, the Department of Defense released the FY 2022 President’s Budget, which proposed an increase of 1.6% in defense spending over FY 2021. Civilians and local security forces are acquiring small-caliber ammunition. Furthermore, the key players are working to improve their online presence, which is expected to supplement growth.
Category-wise Insights
Why is there a High Demand for Rockets and Missiles?
Countries are investing in Long-Range Missiles and Rockets in Response to Rising Global Uncertainty
In the face of growing global uncertainty, countries are investing in long-range missiles and rockets. Fact.MR anticipates that demand will increase at a CAGR of more than 4% over the next decade.
In August 2021, the United States approved the sale of Harpoon over-the-horizon anti-ship missile test kits to India to counter China in the Indian Ocean region, providing a significant boost to the Indian Navy. Such initiatives are significantly increasing demand.
Get Customization on this Report for Specific Research Solutions:https://www.factmr.com/connectus/sample?flag=RC&rep_id=4535
Competitive Landscape
Because of the presence of various players supporting the armed forces, the ammunition market is fragmented. These players are focusing on a variety of strategies to broaden their product offerings and strengthen their geographic presence. New players are expected to enter the market as technology advances.
- BAE Systems and the UK Ministry of Defense (MOD) signed a £250 million contract in July 2021 to advance the design and development of Tempest, the UK’s Future Combat Air System (FCAS).
- Nammo and the Finnish Defense Forces (FDF) announced the signing of a new long-term strategic partnership agreement in December 2020, following the previous security of supply agreement signed by the two parties in 2014.
- Companies are investing in the development and production of advanced precision-guided ammunition capable of effectively attacking the target while causing minimal collateral damage.
Key Segments Covered in the Ammunition Industry Report
Ammunition by Caliber
- Small Caliber Ammunition
- 56 mm
- 62 mm
- 62 x 51 mm
- 62 x 39 mm
- 9 mm
- 9 x 18 mm
- 9 x 19 mm
- Others
- Medium Caliber Ammunition
- 23 mm
- 30 mm
- Others
- Large Caliber Ammunition
- VSHORAD
- 122 mm
- Others
- Rockets, Missiles and Others
- Tank Ammunition
- Artillery Ammunition
Ammunition by Type
- Rimfire Ammunition
- Centerfire Ammunition
Ammunition by Application
- Civil & Commercial
- Sports
- Hunting
- Self Defense
- Defense
- Military
- Law Enforcement
Ammunition by Region
- North America Ammunition Market
- Latin America Ammunition Market
- Europe Ammunition Market
- East Asia Ammunition Market
- South Asia Ammunition Market
- Oceania Ammunition Market
- Middle East & Africa Ammunition Market
Get Full Access of this Report through our PayPal Payment Optionhttps://www.factmr.com/checkout/4535
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Email: sales@factmr.com