The global ammunition
market is expected to reach USD 16.07 billion by 2024, according
to a new report by Grand View Research, Inc. Increasing terrorist activities,
coupled with arms race amongst emerging economies in the recent past is
projected to fuel industry growth over the next eight years. Civil and defense
are the two key end-uses in the ammunition market. The civil end-use is further
segmented into law enforcement, self-defense, and sports & hunting.
Advancements in Russian and U.S. ammunition market
coupled with increasing participation in shooting, hunting and sports across
the world is influencing the growth of the global ammunition market. The
countries such as China, South Korea, India, France, Saudi Arabia, Germany,
Turkey, Israel and South Africa are expected to boost the demand further in the
ammunition industry. However, high costs in research & development and
international regulations are expected to hinder the market growth over the
forecast period.
Additionally, the demilitarization initiatives adopted
across Europe and North America are expected to reduce the demand for
ammunition form the military and law enforcement sectors. However, the impacts
of these factors are expected to reduce over the period of forecast.
Browse full research report on Ammunition Market: https://www.grandviewresearch.com/industry-analysis/ammunition-market
Further
key findings from the report suggest:
- The global ammunition market size was estimated at USD 11.74
billion in 2015 and is expected to grow significantly by 2024 in light of
technological advancements and development for the smart weapons to
maintain law and order in developed economies.
- Bullet segment is expected to witness considerable gains at a CAGR
of 3.8% from 2016 to 2024. This growth is attributed to the measures taken
by different governments to introduce latest technologies for the overall
advancement of the industry.
- AAI Corporation has developed an advanced light machine gun which
uses 5.56mm ammo. This ammunition is also referred as telescoped
ammunition and does not contain conventional brass cartridge, which
reduces the weight of the ammunition approximately by 40% as compared to
the traditional ammunition.
- Asia Pacific accounted for 32.9% of the overall revenue share in
2015 and is projected to witness high growth. Recent increase in terrorist
activities along with the need to maintain internal peace and order,
counties such as India, China and Pakistan are continuously enhancing
their defense mechanism, which in turn is boosting the ammunition market.
- Ammunition industry is dominated by key participants including
include General Dynamics Corporation, BAE Systems, Remington Arms Company,
Inc., Ruag Ammotec, Poongsan Corporation, Federal Premium Ammunition and
Maxam. Companies are collaborating in order to remain profitable and
retain their position in the global market.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand
View Research has segmented the global ammunition market on the basis of
product, end-use and region:
Product
Outlook (Revenue, USD Million, 2013 - 2024)
- Bullet
- Rocket
- Mortar
- Others
End-Use
Outlook (Revenue, USD Million, 2013 - 2024)
- Civil
- Law
Enforcement
- Sports and
Hunting
- Self-defense
- Defense
Regional
Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Russia
- UK
- France
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Cuba
- MEA
- Saudi Arabia
- Israel
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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