Feb 8, 2021   SOURCE: PR NewsWire

Ammunition Market Size Worth $28.37 Billion By 2028 | CAGR: 3.6%: Grand View Research, Inc.

SAN FRANCISCO, Feb. 8, 2021 /PRNewswire/ -- The global ammunition market size is expected to reach USD 28.37 billion by 2028 registering a CAGR of 3.6%, according to a new report by Grand View Research, Inc. Increasing investments in defense equipment by militaries on account of the rise in geopolitical tension across the globe are anticipated to drive the product demand. Increasing procurement of artillery and mortar platforms by the Indian Army through several development platforms are expected to raise the number of ammunition over the forecast period. Also, the rise in hostilities is expected to boost the product demand in the Middle Eastern countries during the projected period.

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Key suggestions from the report:

    --  Small caliber emerged as the largest segment in 2020 and is expected to
        generate revenue of over USD 14.9 billion by 2028 due to a wide range of
        applications including assault rifles, handguns, and pistons
    --  The centerfire product segment accounted for the largest revenue share
        of over 68% in 2020 and is projected to witness the fastest growth
        during the forecast period
    --  Defense emerged as the largest application segment in 2020 accounting
        for the revenue share of 76.2%
    --  This growth was attributed to the increased product procurement by
        homeland security forces
    --  Asia Pacific is expected to record the maximum CAGR of 4.7% over the
        forecast years primarily due to the upgrading of defense forces across
        countries, such as China, India, Australia, and Singapore
    --  The market in U.S. was valued at USD 6.79 billion in 2020 and is
        expected to grow substantially during the forecast period due to rising
        defense expenditure coupled with intensive training activities conducted
        by the country's defense forces

Read 140 page research report with ToC on "Ammunition Market Size, Share & Trends Analysis Report By Caliber (Small, Medium), By Product (Centerfire, Rimfire), By Application (Civil & Commercial, Defense), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/ammunition-market

Technological innovations for the replacement of brass-based bullet cases with polymer-based bullet cases are expected to offer growth prospects to the market. Application of polymer materials in bullets reduces the ammunition weight by over 40%, wherein the impact of the same is unaffected, thereby making it lighter and accurate as compared to conventional bullets. Rising geopolitical issues, warlike situations, and increasing terrorist activities across the globe are leading to the rise in product stockpiling by the prominent militaries and armed forces. This strategy is likely to offer cost savings as the products are purchased in high volume at cheap prices, which, in turn, also supports market growth.

Grand View Research has segmented the global ammunition market on the basis of caliber, product, application, and region:

    --  Ammunition Caliber Outlook (Revenue, USD Million, 2017 - 2028)
        --  Small Caliber
            --  5.56 mm
            --  7.62 mm
                --  7.62 x 51 mm
                --  7.62 x 39 mm
                --  Others
            --  9 mm
                --  9 x 18 mm
                --  9 x 19 mm
                --  Others
        --  Medium Caliber
            --  23 mm
            --  30 mm
            --  Others
        --  Large Caliber
            --  VSHORAD
            --  122 mm
            --  Others
        --  Rockets, Missiles, and Other
            --  Tank
            --  Artillery
    --  Ammunition Product Outlook (Revenue, USD Million, 2017 - 2028)
        --  Rimfire
        --  Centerfire
    --  Ammunition Application Outlook (Revenue, USD Million, 2017 - 2028)
        --  Civil & Commercial
            --  Sports
            --  Hunting
            --  Self Defense
        --  Defense
            --  Military
            --  Law Enforcement
    --  Ammunition Regional Outlook (Revenue, USD Million, 2017 - 2028)
        --  North America
            --  U.S.
            --  Canada
            --  Mexico
        --  Europe
            --  Germany
            --  U.K.
            --  France
            --  Spain
            --  Russia
            --  Turkey
            --  Czech Republic
            --  Poland
        --  Asia Pacific
            --  China
            --  India
            --  Japan
            --  South Korea
            --  Australia
            --  Singapore
        --  Central & South America
            --  Brazil
            --  Argentina
        --  Middle East & Africa
            --  Saudi Arabia
            --  UAE

List of Key Players of Ammunition Market

    --  General Dynamics Corp.
    --  BAE Systems
    --  Remington Arms Company
    --  JagemanN Stamping Company
    --  Ammo, Inc.
    --  Sierra Bullets

Find more research reports on Advanced Interior Materials Industry, by Grand View Research:

    --  Small & Medium Caliber Ammunition Market - Global small & medium caliber
        ammunition market size was valued at USD 9.18 billion in 2019 and is
        expected to grow at a compound annual growth rate (CAGR) of 4.2% from
        2020 to 2027.
    --  Less Lethal Ammunition Market - Global less lethal ammunition market
        size was estimated at USD 867.4 million in 2019 and is expected to
        register a compounded annual growth rate (CAGR) of 4.3 % from 2020 to
        2027.
    --  Small Arms And Light Weapons Market - Global small arms and light
        weapons (SALW) market size was valued over USD 18.70 billion in 2015.
        The increasing civilian interest in various sports such as shooting and
        self-defense are expected to boost market growth.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.