Ammunition Market Business Driving Factors and In-depth Research Report, 2024

Felton, California, Sept. 08, 2020 – The global Ammunition Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Ammunition Market size is likely to reach USD 16.07 billion by 2024 and is anticipated to experience a noteworthy growth in the near future owing to the rising security concerns caused by the upswing in terrorist groups and activities. Arms race has been observed in the developing economies of Pakistan, China and India which is presumed to thrust the demand over the forecast period. 

Key Players:

• General Dynamics Corporation
• BAE Systems
• Remington Arms Company
• Magtech Ammunition Company
• Global Ordnance
• Poongsan Corporation 

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Growth Drivers:

Rising inclination towards hunting and sports activities has enhanced ammunition market. In terms of exports, the U.S is amongst the major exporter of weapons and armories across the globe. The U.S armory industry is a commercialized segment and a significant contributor in the countries’ economy. In the context of R&D, innovation and production, the U.S ranks on top.

According to the latest statistics published by Stockholm International Peace Research Institute (SIPRI), China, Saudi Arabia, Russia, and the U.S were the foremost nations having highest expenditure on armories. The majority of the share was captured by the U.S with 36%, followed by China with a share of 13% in 2015.

Product Outlook: 

• Bullet
• Rocket
• Mortar 

End-Use Outlook: 

• Civil
• Law Enforcement
• Sports and Hunting
• Self-defense
• Defense 

Regional Insights: 

Asia Pacific, which is projected to grow at a CAGR of 4.5%, also accounted for the highest share in 2015 and is projected to continue the trend over the forecast period. The upsurge of terrorism activities in developing economies such as India is resulting in the strengthening of the overall defense system of the country. India signed several contracts valued at USD 15 billion to buy armories in March, 2016.

Production of small armories and weapons is a leading industry in Europe as a result of which it has retained its position as one of the key arms exporter across the globe. Key countries in Europe consists of the U.K, France, Germany and Russia.

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