Albany, NY -- (SBWIRE) -- 07/09/2014 -- According to a new market report "Ammunition (Defense, Homeland Security and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," published by Transparency Market Research, the market for ammunition globally is forecast to reach USD 10,093.1 million by 2019. Recently, rising conflicts in several nations due to territorial disputes and growing crime rates across the globe are supporting the growth of ammunition market.
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Globally, the ammunition market was valued at USD 9,235.8 million in 2012 and is forecast to grow at a CAGR of 1.3% from 2013 - 2019. Different types of munitions are used by defense departments, federal and private security agencies, R&D divisions and others. Among all, highest revenue share was recorded by the defense sector in 2012, which was accounted for more than 50% of revenue share. This is due to the increased responsibilities of state defense departments for prevention of terrorist attacks and response attentiveness. In order to reinforce security initiative and to stay battle ready, defense organizations worldwide adopt different kinds of ammunitions such as missiles, small arms ammunition, torpedoes, warheads and grenades among others. Among these ammunition products, small arm ammunition is emerging as leading segment which together with missiles and warheads accounted for 54.2% of the market share in 2012.
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Different types of ammunition are large caliber, medium caliber, small caliber, artillery, mortar ammunitions among others. Among these large caliber, artillery, mortar ammunitions are emerging as potential segments. Geographically, North America is anticipated to remain largest market for ammunitions owing to the increased military spending and the rising popularity of hunting and sport-shooting in this region. Europe and North America had collective revenue share of 68% in 2012.
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Ammunition market is concentrated with few dominating national and multinational firms with substantial capital and recourses. Well-known industry participants such as Alliant Techsystems Inc., Rheinmetall AG and General Dynamics Corporation are considered to have a dominant position in the market and together accounted for more than 38% of the market share in 2012. These players have well-developed resources and strong R&D capabilities to meet industry demand. Other vendors in the market include Expal - Maxam group (SP), Diehl (D, group and Defence BU), EAS Hellenic Defence Systems - Pyrkal (GR), BAE Systems, and Nexter among others.