Which region held the highest share in the Ammunition market?

Posted on 2022-06-22 by researchinsights in Defense // 0 Comments

San Francisco, California , USA, June 22, 2022 — /EPR Network/ —

Ammunition Industry Overview

The global ammunition market size is expected to reach USD 29.68 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.2% from 2022 to 2030. Increasing investments in defense equipment by militaries on account of the rise in geopolitical tension across the globe are anticipated to drive the demand for ammunition in the estimated time. Increasing procurement of artillery and mortar platforms by the Indian Army over the next ten years through several development platforms is expected to raise the number of ammunition over the forecast period. Additionally, the rise in hostilities is expected to ascend the demand for ammunition in the Middle Eastern countries in the projected time frame.

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

Hunting in the European Union has led to an accumulation legacy of lead discharged from spent ammunition. This lead exhibits harmful toxic effects on the wildlife, environment, and humans who consume the hunted game meat. Thus, non-toxic lead substitutes for both shotgun and rifle ammunition have been developed and required in some jurisdictions of the European Union. In the European Union, more than 25 companies manufacture or distribute lead-free shotgun ammunition and further 14 companies distribute lead-free rifle ammunition. However, the wide transition in terms of using lead-free ammunition has been resisted by ammunition-making and hunting communities in the region.

Ammunition Market Segmentation

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

Based on the Caliber Insights, the market is segmented into Small Caliber, Medium Caliber, Large Caliber, Rockets, Missiles and Other.

The small caliber segment led the market and accounted for over 50.0% share of the global revenue in 2021.
The medium caliber segment includes high-performance 20 mm, 25 mm, 30 mm, and 40 mm cartridges for a broad range of applications including land, sea, and air with the capability to penetrate light armor, material, and personnel target. The increasing application of guns and rifles by prominent militaries across the globe is anticipated to ascend the demand for medium-caliber ammunition.

Based on the Product Insights, the market is segmented into Rimfire and Centerfire.

The centerfire segment led the market and accounted for over 65.0% share of the global revenue in 2021. Centerfire ammunition is usually used for rifles, shotguns, and handguns. Centerfire ammunition is employed as a universal standard in military, police, and security forces owing to its potential to allow high pressure and the ability to reuse the casings. These cartridges are preferred for military operations owing to their thicker metal casing that can withstand rough handling without high damage.
The rimfire segment is expected to register a CAGR of 3.1% in the forecast period owing to the increasing demand from shooters in light of the limited recoil offered by the product.

Based on the End-use Insights, the market is segmented into Civil & Commercial and Defense.

The defense end-use segment led the market and accounted for over 75.0% share of the global revenue in 2021. In addition, this segment is expected to maintain its lead over the forecast period. Increasing cross-border conflicts have fueled the growth of the bullets market across the globe.

Ammunition Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

Key companies generate a majority of their revenues through military and government channels. Their primary customers include the U.S. Department of Defense and intelligence community. Moreover, they deliver products to U.S. government customers including the Department of Homeland Security. These players are also involved in teaming and sub-contracting relationships with their competitors.

Some prominent players in the global Ammunition market include

Northrop Grumman Corporation
FN Herstal
Olin Corporation
General Dynamics Corporation
BAE Systems, Inc.
Rheinmetall Defense
Nexter KNDS Group
Hanwha Corporation
ST Engineering
Remington Arms Company LLC
Vista Outdoor Operations LLC

Order a free sample PDF of the Ammunition Market Intelligence Study, published by Grand View Research.

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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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