The global Ammunition market is forecasted to grow at a rate of 3.3% during the forecast period and reach USD 25.97 billion in 2027. The market under study had a value of USD 20.40 billion in 2019. An increase in terrorist activities around the world is compelling all the countries to increase spending in the defense sector, which is primarily driving the growth of the market. There is an effort to modernize defense infrastructure by countries around the world and this is acting as the main driver for the market. Modernization of military forces is carried out by countries like the USA, China, Russia, Turkey, Israel, South Korea, India in order to improve their military abilities. The demands of these countries are compelling major players in the market to focus more on R&D.
The civil and commercial segment of the market under study is predicted to have a fairly good CAGR during the forecast period apart from massive growth in the defense segment. The growth in the civil and commercial segment is primarily due to the rise in interest in sports and leisure activities like shooting and hunting.
The small caliber segment is forecasted to have the highest CAGR among all segments during the forecast period since it can be used in small arms, which are now used by armed forces and security personnel.
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Key participants include
Nammo A.S, Northrop Grumman, Rheinmetall Defence, Nexter Group, RUAG Holding A.G., Fiocchi Munizioni S.p.A, Prvi Partizan A.D., Companhia Brasileira de Cartuchos, Hornady Manufacturing Company Inc., and General Dynamics Corporation.
Further key findings from the report suggest
Centerfire product enjoyed the largest market share among all the product segments in 2019 because of its special features, which makes it one of the most useful ammunition products. The rimfire ammunition is also expected to have a significant amount of growth rate of 3.6% during the forecast period.
The small caliber segment enjoyed the largest market share in 2019 and it is forecast period to witness the fastest growth rate of 3.7% during the forecast period. This is due to security concerns arising in many countries. Rockets and Missiles segment will also witness a fair amount of growth of around 3.6% during the forecast period.
The defense sector has always been the largest consumer in the ammunitions market, but the Civil and Commercial segment is forecasted to record high growth due to its vast product line.
North American market is the dominant consumer in the market is expected to show a considerable growth, but the Asia Pacific region will show a significant amount of growth rate of 3.8% during the forecast period due to rising tensions between China and the USA.
On May 8, 2019, Fiocchi launched 7 new cartridges that can be used in hunting shotguns, which include JK6 33, SUBSONIC, HP 36, SLUG STEEL, GM3, 20 gauge SUBSONIC and 410 gauge SILENT.
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For this report, Reports and Data have segmented into the global Ammunition market on the basis of resin type, composite phases, industry vertical, and region:
Product Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Caliber Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Rockets & Missiles
End Use Outlook (Volume, Thousand Units; Revenue, USD Billion; 2020-2027)
Civil & Commercial
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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