The global ammunition market is projected to grow from USD 18.08 billion in 2016 to USD 21.98 billion by 2021, at a CAGR of 3.98% from 2016 to 2021. This growth can be attributed mainly to factors, such as territorial conflicts, military modernization programs being carried out across the globe, and need of ammunition for personal safety and shooting sports.
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Among applications, the civil & commercial segment of the global ammunition market is projected to grow at the highest CAGR during the forecast period. The growth of the civil& commercial application segment of the global ammunition market is attributed to use of small caliber ammunition in sporting and hunting activities.
Shooting sports are growing in popularity across all ages and genders, with increasing number of new firearm and shotgun certificates being granted to enthusiasts.
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2 Lightweight Ammunition
3 Precision-Guided Munition (PGM)
4 Multipurpose Munition
5 Advancements in Ammunition Technologies
6 End User Requirements in Terms of Ammunition Design
7 Innovation & Patent Registrations
8 Ammunition Regulatory Bodies, By Region
9 Average Selling Price of Ammunition
The small caliber ammunition segment is projected to lead the global ammunition market during the forecast period, owing to increased procurement of small ammunition by the defense and homeland security sectors to curbrising armed conflicts as well as by civilian population for personal safety. In addition, there is increased usage of small caliber ammunition by civilians and homeland security personnel, owing to their less lethality.
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The North American region led the global ammunition market in 2016.The growth of the North America ammunition market can be attributed to increasing demand for ammunition in sporting and hunting activities in the region. Moreover, law enforcement agencies as well as local and state police departments in the region, are demanding small and medium caliber ammunition in large quantities.
The Middle East ammunition market is projected to grow at the highest CAGR during the forecast period. Increasing number of armed conflicts and terrorism across the region is expected to propel the growth of the Middle East ammunition market during the forecast period.
Key Target Audience:
- Armed Services
- Government Defense Regulatory Bodies
- Law Enforcement Agencies
- Ministry of Homeland Security
Some of the key market players operating in the global ammunition market include Orbital ATK Inc. (U.S.), Olin Corporation (U.S.), General Dynamics Corporation (U.S.), BAE Systems (U.K.), Remington Arms Company, LLC (U.S.), and Nammo AS (Norway), among others.
These players have adopted various strategies, such as long-term contracts, new product launches, and agreements to strengthen their position in the global ammunition market.
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The global ammunition market has been segmented into North America, Europe, Asia-Pacific, Middle East, and rest of the world. The Middle East ammunition market is projected to grow at the highest CAGR from 2016 to 2021, owing to factors such as geopolitical tensions, territorial conflicts, and military modernization programs being carried out by emerging economies across the globe.
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