The global ammunition market is expected to reach USD 16.07
billion by 2024, according to a new report by Grand View Research, Inc.
Increasing terrorist activities, coupled with arms race amongst emerging
economies in the recent past is projected to fuel industry growth over the next
eight years. Civil and defense are the two key end-uses in the market. The
civil end-use is further segmented into law enforcement, self-defense, and
sports & hunting.
Advancements in Russian and U.S.
regional markets coupled with increasing participation in shooting, hunting and
sports across the world is influencing the growth of the global ammunition
market. The countries such as China, South Korea, India, France, Saudi Arabia,
Germany, Turkey, Israel and South Africa are expected to boost the demand further
in the ammunition industry. However, high costs in research & development
and international regulations are expected to hinder the market growth over the
forecast period.
Additionally, the
demilitarization initiatives adopted across Europe and North America are
expected to reduce the demand for ammunition form the military and law
enforcement sectors. However, the impacts of these factors are expected to
reduce over the period of forecast.
Browse full research report on Ammunition Market: http://www.grandviewresearch.com/industry-analysis/ammunition-market
Further key findings from
the report suggest:
- The global ammunition market size was estimated at
USD 11.74 billion in 2015 and is expected to grow significantly by 2024 in
light of technological advancements and development for the smart weapons
to maintain law and order in developed economies.
- Bullet segment is expected to witness considerable
gains at a CAGR of 3.8% from 2016 to 2024. This growth is attributed to
the measures taken by different governments to introduce latest
technologies for the overall advancement of the industry.
- AAI Corporation has developed an advanced light
machine gun which uses 5.56mm ammo. This is also referred as telescoped
ammunition and does not contain conventional brass cartridge, which
reduces the weight approximately by 40% as compared to the traditional
ammunition.
- Asia Pacific accounted for 32.9% of the overall
revenue share in 2015 and is projected to witness high growth. Recent
increase in terrorist activities along with the need to maintain internal
peace and order, counties such as India, China and Pakistan are continuously
enhancing their defense mechanism, which in turn is boosting the market.
- Ammunition industry is dominated by key participants
including include General Dynamics Corporation, BAE Systems, Remington
Arms Company, Inc., Ruag Ammotec, Poongsan Corporation, Federal Premium
Ammunition and Maxam. Companies are collaborating in order to remain
profitable and retain their position in the global market.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global ammunition
market on the basis of product, end-use and region:
Product Outlook (Revenue, USD Million, 2013 - 2024)
- Bullet
- Rocket
- Mortar
- Others
End-Use Outlook (Revenue, USD Million, 2013 - 2024)
- Civil
- Law
Enforcement
- Sports
and Hunting
- Self-defense
- Defense
Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Russia
- UK
- France
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- Cuba
- MEA
- Saudi
Arabia
- Israel
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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