The global ammunition industry is expected to witness a steady rise in the number of joint ventures and strategic alliances during the forecast period, due to the insufficient indigenous manufacturing capabilities of numerous countries.
Lewes, DE -- (SBWIRE) -- 11/27/2013 -- Numerous countries in the world are currently involved in conflicts with their neighboring nations owing to reasons such as territorial disputes and terrorism. This situation is most commonly evident in the Asia Pacific region due to the rapid economic and military development among countries such as China, India, Japan, South Korea and North Korea among others. All the above mentioned countries are making rapid efforts in order to strengthen their military forces in order to be battle ready and thus involved in an arms race. And, battle readiness demands possessing adequate ammunition of various kinds including small caliber, artillery, mortar, large caliber and medium caliber.
Reducing the weight of ammunition without compromising combat performance is a key challenge for the military ammunition industry. The modernization of soldier systems to protect and empower the soldier has resulted in an exponential increase in the total weight being carried. The combined weight of equipment prevents them from being agile, mobile, and effective war fighters, and the lives of soldiers are being put at risk as heavy life saving equipment is often being left behind. Defense agencies worldwide are focusing on sourcing and integrating the most affordable, lightweight soldier equipment and technology to reduce the burden to personnel.
Global spending on military ammunition is set to remain relatively constant over the next ten years, according to the report "The Global Military Ammunition Market 2013-2023" – which forecasts market growth at a CAGR of 2.24%, primarily driven by the sustained demand of existing conflicts, territorial disputes, and insurgencies.
“The Global Military Ammunition Market 2013-2023” provides detailed analysis of the current industry size and growth expectations from 2013 to 2023, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
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