Ammunition Industry Data Book Covers Small Caliber Ammunition, Medium Caliber Ammunition and Large Caliber Ammunition Markets.
The economic value generated by the ammunition industry was estimated at approximately USD 22.96 billion in 2022.
Ammunition Market Report Highlights
The global ammunition market size was valued at USD 2.96 billion in 2022, and it is expected to reach USD 29.68 billion by 2030. It is expected to expand at a CAGR of 3.1% CAGR (2023-2030).
- By caliber, small caliber emerged as the largest segment in 2021 majorly due to a wide range of applications including assault rifles, handguns, and pistons
- Based on product, the centerfire segment accounted for the largest revenue share in 2021 and is projected to witness the fastest growth over the forecast period as it is defined as a universal standard in most of the defense forces across the globe
- On the basis of end use, the defense segment emerged as the largest segment in 2021 majorly due to rising ammunition procurement by homeland security forces
- The industry in Asia Pacific is expected to register an exponential CAGR of 4.6% over the forecast period, primarily due to the upgrading of defense forces across countries such as China, India, Australia, and Singapore
- The U.S. led the North American market in 2021 and is expected to grow substantially during the forecast years, mainly due to rising defense expenditure in the economy, coupled with intensive training activities conducted by the country’s defense forces
Access the Global Ammunition Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Small Caliber Ammunition Market Report Highlights
The global small caliber ammunition market size was valued at USD 11.93 billion in 2022, and it is expected to reach USD 11.30 billion by 2030. It is expected to expand at a CAGR of 3.7% CAGR (2023-2030).
- The .50 BMG caliber segment is expected to witness significant growth over the forecast period owing to the increasing procurement of machine guns and sniper rifles. The .50 BMG cartridge has a soft steel-core bullet and is used for practice in the M2, M3, and M85 machine guns
- The defense application segment accounted for the largest revenue share in 2021 and is expected to dominate the market over the forecast period owing to the increasing demand from prominent military across the globe. Continuous upgrading and standardization of the bullets and other ammunition used by the defense sector will also result in the growth of this segment
- Asia Pacific is expected to witness considerable growth over the forecast period. The region has witnessed an unprecedented surge in defense spending over the past decade. Rising geopolitical tension and border disputes between the regional powers have been the primary driving factors boosting defense spending in the region
- The industry demand was hampered owing to the global outbreak of the COVID-19 pandemic in 2020. The subsequent economic impact of COVID-19 has curtailed the defense spending by the countries in 2020, thereby affecting the small caliber ammunitions demand
- The market is characterized by acquisitions and joint ventures between major players and the government to establish long-term contracts. It is slowly moving towards consolidation due to increasing acquisitions in the market. Major players in the ammunition market exhibit an extensive product portfolio and are focused on product innovation in order to increase their market share and maintain their market position
Order your copy of the Free Sample of “Ammunition Industry Data Book – Small Caliber Ammunition, Medium Caliber Ammunition and Large Caliber Ammunition Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research
Key players operating in the ammunition industry are –
- General Dynamic Corporation
- Northrop Grumman
- BAE Systems
Grand View Research’s ammunition industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of 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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