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.
Full Research Report On Global Ammunition Market
Analysis:
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.
View more reports of
this category by Grand View Research at: 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
View Press Release of This
Research Report by Grand View Research: http://www.grandviewresearch.com/press-release/global-ammunition-market
About Grand View Research
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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
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