Ammunition Market: By Product (Aerial Bombs, Artillery Shells, Bullets, Grenades, Mortars and Others) By Component (Base, Fuze & Primer, Propellant, Projectile and Warhead and Others) By Caliber (Small, Medium and Large) By Application (Defense and Civil & Commercial) By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2019 – 2025.
Ammunition is a material that is fired, dropped, dispersed, or detonated from any weapon. It represents both expendable weapons (for example, missiles, bombs, land mines and grenades) and component parts of other weapons such as warheads and bullets that create the effect on a target. Almost all mechanical weapons require certain form of ammunition to operate.
Rising demand for ammunition owing to rising incidences of asymmetrical warfare and increasing instances cross-border conflicts worldwide are expected to drive the growth of the ammunition market over the forecast period. However, the rapid increase of illicitly or disapproved manufacturing of ammunition and initiation of international measures such as the Arms Trade Treaty (ATT) to control and monitor the cross-border trade in ammunition are anticipated to hamper the growth of the ammunition market in the coming years.
On the basis of application, the ammunition market is categorized into civil & commercial and defense. The defense application is projected to lead the market from 2019 to 2025. The civil & commercial sector is anticipated to grow at a fastest rate due to rising demand for ammunition in hunting and sports activities in North America and European countries.
In terms of caliber, the ammunition market is fragmented into small, medium, and large. The small segment is predicted to grow at the highest CAGR over the coming years. Rising demand for small arms from law enforcement and armed forces of various countries is likely to drive the demand for small segment of the ammunition market.
The global ammunition market covers five major geographic regions, namely, Asia Pacific, North America, Middle East & Africa, Europe, and Latin America. The Asia Pacific ammunition market is expected to grow faster in the near future. The growth is attributed to the increasing expenditure of developing economies of the region on defense operations and growing number of terrorist activities in the region. China and India have raised their defence budgets for gaining advanced ammunition for armed forces, thereby fueling the growth of the Asia Pacific ammunition market.
According to a study, Saudi Arabia was the largest importer of arms in the year 2017, accounting for a share of nearly 13% of the total global arms imports in the same year. India was second largest importer that held almost 10% of the total arms import in 2017. The imports of ammunition in India is likely to increase at a large scale inorder to deal with rising territorial disputes with countries such as China and Pakistan.
Major players operating in the ammunition market include General Dynamics Corporation (US), Northrop Grumman (Orbital ATK Inc.) (US), BAE Systems (UK), RUAG (RUAG Ammotec) (Switzerland), Olin Corporation (US), Nammo AS (Norway), Vista Outdoor Inc. (US), Rheinmetall AG (Germany) and Nexter (France) among others.
Global Ammunition Market: Product Segment Analysis
Global Ammunition Market: Component Segment Analysis
Global Ammunition Market: Caliber Segment Analysis
Global Ammunition Market: Application Segment Analysis