New York, NY -- (SBWIRE) -- 02/09/2021 -- The global Ammunition market is forecasted to grow at a rate of 3.3% during the forecast period and reach USD 25.97 billion in 2027. The market under study had a value of USD 20.40 billion in 2019. An increase in terrorist activities around the world is compelling all the countries to increase spending in the defense sector, which is primarily driving the growth of the market. There is an effort to modernize defense infrastructure by countries around the world and this is acting as the main driver for the market. Modernization of military forces is carried out by countries like the USA, China, Russia, Turkey, Israel, South Korea, India in order to improve their military abilities. The demands of these countries are compelling major players in the market to focus more on R&D.
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Leading Players Profiled in the Report Include:
Nammo A.S, Northrop Grumman, Rheinmetall Defence, Nexter Group, RUAG Holding A.G., Fiocchi Munizioni S.p.A, Prvi Partizan A.D., Companhia Brasileira de Cartuchos, Hornady Manufacturing Company Inc., and General Dynamics Corporation.
The civil and commercial segment of the market under study is predicted to have a fairly good CAGR during the forecast period apart from massive growth in the defense segment. The growth in the civil and commercial segment is primarily due to the rise in interest in sports and leisure activities like shooting and hunting.
The small caliber segment is forecasted to have the highest CAGR among all segments during the forecast period since it can be used in small arms, which are now used by armed forces and security personnel.
Further key findings from the report suggest
Centerfire product enjoyed the largest market share among all the product segments in 2019 because of its special features, which makes it one of the most useful ammunition products. The rimfire ammunition is also expected to have a significant amount of growth rate of 3.6% during the forecast period.
The small caliber segment enjoyed the largest market share in 2019 and it is forecast period to witness the fastest growth rate of 3.7% during the forecast period. This is due to security concerns arising in many countries. Rockets and Missiles segment will also witness a fair amount of growth of around 3.6% during the forecast period.
The defense sector has always been the largest consumer in the ammunitions market, but the Civil and Commercial segment is forecasted to record high growth due to its vast product line.
North American market is the dominant consumer in the market is expected to show a considerable growth, but the Asia Pacific region will show a significant amount of growth rate of 3.8% during the forecast period due to rising tensions between China and the USA.
On May 8, 2019, Fiocchi launched 7 new cartridges that can be used in hunting shotguns, which include JK6 33, SUBSONIC, HP 36, SLUG STEEL, GM3, 20 gauge SUBSONIC and 410 gauge SILENT.
Important acquisitions taking place in the market include acquisition of Orbital ATK by Northrop Grumman in 2017, CHARME III acquiring 60% stakes of Fiocchi Munizioni in 2018, Nammo acquiring Chemring Ordnance in 2019.
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For the purpose of this report, Reports and Data have segmented into the Ammunition market on the basis of product, caliber, end use, and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Centerfire
Rimfire
Others
Caliber Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Small
Medium
Large
Rockets & Missiles
Others
End Use Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Defense
Civil & Commercial
Others
Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Ammunition Market Segmentation & Impact Analysis
4.1. Ammunition Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing terrorist activities
4.2.2.2. Growth of arms race amongst various countries
4.2.2.3. Increase in sports, recreational and leisure activities like shooting or hunting
4.2.3. Market restraints analysis
4.2.3.1. Strict government regulations
4.2.3.2. Concern regarding environmental hazards
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…
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