Currently,
arms and ammunition form a large part of major nations’ annual
expenditures. This is because nations around the world are grappling
with terrorist threats that have necessitated overhauling their
defense capabilities. In this regard, organizations such as the North
Atlantic Treaty Organization (NATO) are working towards counteracting
terrorism by improving awareness of the threat, enhancing
capabilities to prepare and respond, and intensifying engagement with
partner nations and other international entities. Consequently,
procuring and developing state-of-the-art weaponry and ammunition has
become a high priority for nations worldwide.
In
the light of political developments and incorporation of hi-tech
weaponry to combat terrorism, the global ammunition market will rise
at a CAGR of 3.7% from 2015 to 2021, says Transparency Market
Research.
Read the Detailed Information of Ammunition Market:
Q.
What are the core factors driving the global ammunition market?
A.
Nations around the world are striving to safeguard national security,
thereby spending heavily on modern weaponry and ammunition. These
measures are closely related to securing the country’s economy and
the lives of its citizens. The rising concerns due to geopolitical
disputes and changing military and law enforcement mandates as
preparatory measures to respond to contingency are boosting the
growth of the ammunition market across the world. Continual research
and development for technologically advanced weaponry is also
improving the demand for ammunition globally. With the rising
popularity of shooting-related sports, the ammunition market is
receiving a further boost.
Q.
How lucrative are Asia Pacific and the Middle East and Africa regions
for the global ammunition market?
A.
Enormously. The increasing arms race in these regions due to some of
the most brutal terrorist attacks in nations here in the past are the
reason for this. Nations in these countries are striving to gear
their armed forces to combat terrorist activities and be prepared in
the instance of an eventuality.
For
instance, following the 26/11 terror attack in Mumbai in India,
several security measures were implemented. The entire west coast is
now under continuous surveillance by aircraft and ships of the Navy
and Coast Guard. The country is also making massive investments in
ammunition in view of its conflicts with China and Pakistan.
Q.
Where does Europe stand in the ammunition market globally?
A.
The region is positioned as a clear leader in the global ammunition
market. In 2014, the region contributed a revenue of 35% to the
global market. Meticulous efforts carried out for the modernization
of the armed forces and the increasing adoption of technologically
developed ammunition are the reasons for the same. European countries
such as France and Belgium, where recent terrorist attacks have left
hundreds dead, are being compelled to strengthen their capacity to
counter insurgents.
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Q.
Is demilitarization in Europe negatively impacting the ammunition
market?
A.
Yes. With the beginning of demilitarization in Europe in the 1970s
that solidified in the 1990s and finally aggravated with the
financial crisis of 2008, the demilitarization in Europe is
undeniable. The reasons for this are the shrinking budgets leading to
smaller armed troops, deployment of equipment in small quantities,
and inadequate military capacity. Resultantly, demilitarization is
resulting in shaky demand for ammunition in the region.
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