The
global ammunition market is predicted to rise at a 3.70% CAGR to grow
from a value of US$11.48 bn in 2014 to US$14.87 bn by 2021. The
global competition to manufacture enhanced weapons and ammunition to
ensure the security of a country has driven the global ammunition
market in the recent past. The introduction of technologically
advanced ammunition and supplies is expected to help expand the
global ammunition market during the forecast period.
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Over
the past few years, there has been stiff competition amongst
countries to secure citizens’ lives and the country’s economy.
Growing concerns about geopolitical tensions in various parts of the
world and the rising threat of terrorism are expected to boost the
global ammunition market. The increasing eagerness of the global
population to take part in various shooting-related sports is also
predicted to boost the global ammunition market. The escalating arms
race, particularly in Asia Pacific, is also influencing the market
significantly. Some of the factors that restrict the growth of the
global ammunition market are increasing R&D expenses, increasing
number of laws aimed at controlling the proliferation of weapons, and
adoption of demilitarization initiatives globally.
Full
Metal Jacketed Ammunition Sector to be the Dominant Contributor
The
global ammunition market is segmented on the basis of type, region,
caliber, and application. By type, the global ammunition market is
classified into full metal jacketed ammunition, tracer ammunition,
armor piercing ammunition, incendiary, and others. In 2014, in terms
of revenue, the global ammunition market was dominated by the full
metal jacketed ammunition sector. This sector accounted for almost
50% of the market in 2014. Increasing usage of advanced technology by
terrorist organizations and hostile nations is expected to propel the
full metal jacketed ammunition sector by 2021.
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By
geography, the global ammunition market is divided into Europe, North
America, Asia Pacific, and Rest of the World. The Europe ammunition
market led the global ammunition market in 2014. The Europe
ammunition market accounted for a 35% market share in 2014. The Asia
Pacific region is predicted to grow rapidly till 2021, at a 4.0%
CAGR. Leading players in the market are introducing enhanced
ammunition by focusing on the demand from military organizations and
government organizations. Some of the leading players in the global
ammunition market are General Dynamics Corporation, Fiocchi Munizioni
S.p.A., Prvi Partizan A.D., Nexter Group, Rheinmetall Defence,
Companhia Brasileira de Cartuchos, Hornady Manufacturing Company,
Inc., Orbital ATK, Inc., RUAG Holding A.G., and Nammo A.S.
Small
Caliber Sector to Lead the Ammunition Market
Based
on caliber, the global ammunition market is classified into small
caliber ammunition, mortar ammunition, medium caliber ammunition,
shotgun shells, and artillery ammunition. In 2014, the small caliber
ammunition sector dominated the global ammunition market, accounting
for the highest market share. The demand for small caliber ammunition
is expected to increase globally due to the presence of a wide
variety of applications in law enforcement, military, and the
commercial sector. By application, the global ammunition market was
dominated by the military sector in 2014. The commercial sector and
the law enforcement sector are predicted to develop rapidly during
the forecast period.
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