The global ammunition
market size is expected to reach USD 16.07 billion by 2024,
according to a new report by Grand View Research, Inc. It is anticipated to
expand at a CAGR of 3.5% during the forecast period. Rise in terrorist
activities accompanied by stacking of arms and weapons in emerging economies
owing to rising defense expenditures is expected to propel market growth over
the forecast period.
On the basis of end use, the market is segmented into
civil and defense. The use of ammunition in civil sector is further segmented
into self-defense, sports and hunting, and law enforcement. Market growth is
influenced by military advancements in Russia, and increasing participation of
civilians in hunting, shooting, and sports; particularly in North America and
Europe.
In North America, U.S. is a pioneer in research and
development (R&D) of ammunition industry. In Europe, the market is
dominated by manufacturing of small arms and weapons industry. In the Asia
Pacific region, the demand for ammunition is expected to be driven by the increase
in cross-border issues and increase in the defense expenditure on account of
rising economy. Countries such as China, India, Korea, South Africa, and Saudi
Arabia are expected to boost the market growth.
Demilitarization activities by developed economies in
North America and Europe, coupled with high costs associated with research and
development is expected to hinder the market demand from the law enforcement
and military sectors. However, these factors are expected to be offset by the
significant growth in the Asia Pacific and Middle East regions.
Browse full research report on Ammunition Market: https://www.grandviewresearch.com/industry-analysis/ammunition-market
Further key findings from the report suggest:
- In terms of revenue, the bullet segment was estimated to be the
largest in the China and global market on account of various measures
taken by different governments and industries to enhance manufacturing
technologies. It is expected to expand at a CAGR of 3.8% from 2016 to 2024
- Asia Pacific was estimated as the largest market and is expected to
register significant growth over the forecast period on account of recent
rise in terrorist activities, countries such as China and India have
increased their defense expenditure to restore peace and security
- The market is highly competitive, with presence of established
market players and is characterized by mergers and acquisitions. In
January 2012, BAE Systems and Olin Corporation's Winchester Ammunition
Division formed a joint venture to develop, operate, and maintain the Lake
City Army Ammunition Plant for the U.S. army
- The global ammunition market is dominated by various key market
players such as Remington Arms Company, Inc.; BAE Systems; General
Dynamics Corporation; Federal Premium Ammunition; Poongsan Corporation;
and Ruag Ammotec. Key players are collaborating with industry participants
to sustain market competition.
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:
Ammunition
Product Outlook (Revenue, USD Million, 2013 - 2024)
- Bullet
- Rocket
- Mortars
- Others
Ammunition
End-Use Outlook (Revenue, USD Million, 2013 - 2024)
- Civil
- Law
Enforcement
- Sports and
Hunting
- Self-defense
- Defense
Ammunition
Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Russia
- U.K.
- France
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Cuba
- Middle East
& Africa
- 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.
For more information: www.grandviewresearch.com
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