The global Ammunition Business market is forecasted to grow at a rate of 3.4% during the forecast period and reach USD 30.25 billion in 2030. The market under study had a value of USD 22.35 billion in 2021. An increase in terrorist activities around the world is compelling all the countries to increase spending in the defense sector, which is primarily driving the growth of the market. There is an effort to modernize defense infrastructure by countries around the world and this is acting as the main driver for the market. Modernization of military forces is carried out by countries like the USA, China, Russia, Turkey, Israel, South Korea, India in order to improve their military abilities. The demands of these countries are compelling major players in the market to focus more on RD.
The civil and commercial segment of the market under study is predicted to have a fairly good CAGR during the forecast period apart from massive growth in the defense segment. The growth in the civil and commercial segment is primarily due to the rise in interest in sports and leisure activities like shooting and hunting.
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Further key findings from the report suggest
- Centerfire product enjoyed the largest market share among all the product segments in 2019 because of its special features, which makes it one of the most useful Ammunition Business products. The rimfire Ammunition Business is also expected to have a significant amount of growth rate of 3.6% during the forecast period.
- The small caliber segment enjoyed the largest market share in 2019 and it is forecast period to witness the fastest growth rate of 3.7% during the forecast period. This is due to security concerns arising in many countries. Rockets and Missiles segment will also witness a fair amount of growth of around 3.6% during the forecast period.
- The defense sector has always been the largest consumer in the Ammunition Businesss market, but the Civil and Commercial segment is forecasted to record high growth due to its vast product line.
- North American market is the dominant consumer in the market is expected to show a considerable growth, but the Asia Pacific region will show a significant amount of growth rate of 3.8% during the forecast period due to rising tensions between China and the USA.
- On May 8, 2019, Fiocchi launched 7 new cartridges that can be used in hunting shotguns, which include JK6 33, SUBSONIC, HP 36, SLUG STEEL, GM3, 20 gauge SUBSONIC and 410 gauge SILENT.
Top 10 Companies Operating in the Global Ammunition Business Market:
Nammo AS, Northrop Grumman, Rheinmetall AG, Nexter group KNDS, RUAG Group, Fiocchi Munizioni S.p.A, Prvi Partizan Ammunition Business (PPU), Hornady, General Dynamics Corporation, and Hanwha Group.
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The global market is further segmented into type and application:
Caliber Outlook (Revenue, USD Billion; 2019 – 2030)
- Small
- Medium
- Large
- Rockets Missiles
- Others
Product Outlook (Revenue, USD Billion; 2019 – 2030)
- Bullets
- Aerial Bombs
- Grenades
- Mortars
- Artillery Shells
- Others
Component Outlook (Revenue, USD Billion; 2019 – 2030)
- Fuses Primers
- Gun Powder
- Projectile
- Cases
- Others
Guidance Outlook (Revenue, USD Billion; 2019 – 2030)
- Guided
- Non-guided
Lethality Outlook (Revenue, USD Billion; 2019 – 2030)
- Lethal
- Less-lethal
End-Use Outlook (Revenue, USD Billion; 2019 – 2030)
- Military Homeland Security
- Civil Commercial
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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