The ammunition market is projected to grow from USD 25.9 billion in 2019 to USD 32.3 billion by 2025, at a CAGR of 3.73% from 2019 to 2025
NEW YORK, April 17, 2019 /PRNewswire/ -- Increasing defense spending and ongoing programs for the modernization of armed forces are key factors influencing the growth of the ammunition market across the globe.
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The ammunition market is projected to grow from USD 25.9 billion in 2019 to USD 32.3 billion by 2025, at a CAGR of 3.73% from 2019 to 2025. Growing demand for ammunition due to rising instances of cross-border conflicts and increasing incidences of asymmetric warfare across the globe are expected to fuel the growth of the ammunition market. However, the proliferation of illicitly manufactured ammunition and initiation of international measures such as the Arms Trade Treaty (ATT) to regulate the cross-border trade of ammunition are expected to hinder the growth of the market during the forecast period.
Based on application, the defense segment is projected to lead the ammunition market during the forecast period.
Based on application, the ammunition market has been segmented into defense and civil & commercial.The civil & commercial segment is projected to grow at a higher CAGR as compared to the defense segment from 2019 to 2025.
Increasing demand for ammunition used in sports and hunting activities from the North American and European regions is fueling the growth of this segment of the market.
Based on caliber, the small segment of the ammunition market is projected to grow at the highest CAGR from 2019 to 2025.
Based on caliber, the market has been segmented into small, medium, large, and others.The small segment is projected to grow at the highest CAGR during the forecast period.
Increasing demand for small arms from armed forces and law enforcement agencies of various countries is fueling the growth of this segment of the market.
The Asia Pacific ammunition market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific ammunition market is projected to grow at the highest CAGR from 2019 to 2025.The growth of the market in this region can be attributed to the rising number of terrorist activities in the Asia Pacific region and increasing spending of emerging economies of the region on defense operations.
Countries such as India and China have increased their defense budgets and are procuring advanced ammunition for their armed forces. This, in turn, is leading to the growth of the Asia Pacific ammunition market during the forecast period.
Break-up of profiles of primary participants in this report:
-- By Company Type: Tier 1-35%, Tier 2-45%, and Tier 3-20%
-- By Designation: C Level-35%, Director Level-25%, and Others-40%
-- By Region: Middle East-45%, North America-20%, Asia Pacific-30%, and Europe-5%
Key players profiled in this report on the ammunition market include Northrop Grumman (Orbital ATK Inc.) (US), General Dynamics Corporation (US), Olin Corporation (US), BAE Systems (UK), Nammo AS (Norway), RUAG (RUAG Ammotec) (Switzerland), Nexter (France), Vista Outdoor Inc. (US), and Rheinmetall AG (Germany), among others.
Research Coverage
The study segments the ammunition market based on application (defense and civil & commercial), caliber (small, medium, large, and others), product (bullets, aerial bombs, grenades, artillery shells, mortars, and others), component (fuze & primer, propellant, base, projectile and warhead, and others), guidance (guided, non-guided), and lethality (lethal, less-lethal).It maps these segments and subsegments across 5 major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW).
The report provides in-depth market intelligence regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the ammunition market, along with an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market.
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis -- industry analysis (industry trends), market ranking analysis of top players, and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the ammunition market, high-growth regions, and drivers, restraints, challenges, and opportunities influencing the growth of the market.
The report provides insights on the following pointers:
-- Market Penetration: Comprehensive information on different types of ammunition offered by top market players.
-- Market Sizing: The estimated size of the market in 2019 and its projection from 2019 to 2025.
-- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches & developments in the ammunition market.
-- Market Overview: Market dynamics and subsequent analysis of the associated trends as well as drivers, restraints, opportunities, and challenges influencing the growth of the ammunition market.
-- Market Development: Comprehensive information about lucrative markets -- the report analyzes the market for ammunition across different regions.
-- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ammunition market.
-- Regional Analysis: Factors influencing the growth of the ammunition market in North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW).
-- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the ammunition market
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