Dallas, TX -- (SBWIRE) -- 06/26/2014 -- North America contributes a large market share, as the U.S. being the largest defense spender in the North America accounting nearly 80% of the entire market share in the region. Africa is expected to show steady growth in the forecast period due to economic growth and ensuing conflict throughout the continent. In Latin America, Brazil is the largest spender in ammunitions. Spending on small caliber ammunition is high as compared to other ammunitions, hence contributes the largest portion of the market share.
The global ammunitions market is on a significant upswing. The reason for the growing interest in ammunitions is that now every country is investing significantly to modernize their armed forces. Also, there has been an increase in military expenses by the Middle East, APAC, and Russia. The main challenge which is being faced by every ammunition industry is improving quality and quantity while reducing cost.
According to the market research report, "Ammunition Market by Types (Large Caliber, Medium Caliber and Small Caliber, Artillery, Mortar), by Geography (North America, Europe, APAC, Latin America, Africa) - Market Forecast & Analysis to 2013 - 2020", published by MarketsandMarkets, the global ammunitions market is projected to cross $12 Billion by 2020, growing at a 4.2% CAGR from 2013 to 2020.
Browse 69 market data Tables and 80 Figures spread through 152 Pages and in-depth TOC on "Ammunition Market".
The recent conflicts have been a real growth factor for the ammunition industry. The difficulties identified in the global Ammunitions Market are, budget cuts in the U.S. and Europe and re-exports of surplus ammunition. The challenges faced by this market include manufacturing, technology, meeting customer needs, and new investments.
Budget cuts in most of the western countries are anticipated to have an impact on the ammunitions market, while industries from the west would be in constant lookout for other markets to offset the decrease in demand. Increase in merger and acquisition, technology transfer, joint development and production, and partnership agreements between western and other developing nations are expected.
Among the five ammunition types which include small, medium, and large caliber, artillery, and mortar ammunitions, the small caliber ammunition constitutes majority of market share in the global ammunitions market.
The global Ammunitions Market is segmented into three categories that include types, geography, and country. This report divides the overall market into geographical segments, namely, North America, Europe, APAC, the Middle East, Latin America, Africa, and Russia. Asia-Pacific currently contributes highest in market growth compared to the other regions. Besides this, the Middle East will show growth by 2020 with a CAGR of 4.2%.
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Most of the countries around the globe, maintain their own ammunition manufacturing capability. The ammunition industry is highly fragmented and highly competitive. The companies walk the extra mile by offering customized solutions such as providing life support, maintenance, and upgrades to have a competitive edge and thrive in this market.
The industry is fragmented, as most of the countries try to maintain their own ammunition manufacturing capability, hence competition is high, making companies who are willing to walk the extra mile by provide customized solution, providing through life support, maintenance and upgrades to thrive in this market.
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The leading companies in the global Ammunitions Market covered in the report are ATK (U.S.), General Dynamics (U.S.), Rheinmetall Defense ( Germany) , Bae systems (U.K.), and Nexter (France ).
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