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Ammunition Global Market Report 2022
Major players in the ammunition market are Northrop Grumman Corporation, General Dynamics Corporation, CBC Global Ammunition, Olin Corporation, Ruag Ammotec, BAE Systems, Thales Group, Rheinmetall AG, Nexter KNDS Group, Elbit Systems, Nammo AS, Ammo Inc, Indian Ordnance Factories, Saab AB, Hanwha Corporation, and Arsenal JSCo.
New York, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ammunition Global Market Report 2022" - https://www.reportlinker.com/p06319231/?utm_source=GNW
The global ammunition market is expected to grow from $23.75 billion in 2021 to $24.54 billion in 2022 at a compound annual growth rate (CAGR) of 3.35%. The ammunition market is expected to grow to $27.77 billion in 2026 at a compound annual growth rate (CAGR) of 3.14%.
The ammunition market consists of sales of ammunition by entities (organizations, sole traders, and partnerships) that refer to materials such as bullets, rockets, bombs, shrapnel, or shells that are fired, scattered, dropped, or detonated from any weapons.Ammunition comes in a range of types and sizes that are often designed to work only in specific weapon systems.
Ammunition is a disposable weapon as well as the components of other weapons that produce the effect on a target.
The main products of ammunition include bullets, aerial bombs, grenades, artillery shells, and mortars.Bullets refer to the kinetic projectile, a part of firearm ammunition that is shot from a gun barrel.
Bullets are made of different materials such as lead, copper, steel, polymer, wax, and rubber.The small, medium, large, and other caliber ammunitions are used in equipment with a different operating mechanism which includes a non-guided and guided mechanism.
They are used for both defense and civil & commercial applications.
North America was the largest region in the ammunition market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The ammunition market research report is one of a series of new reports that provides ammunition market statistics, including ammunition industry global market size, regional shares, competitors with an ammunition market share, detailed ammunition market segments, market trends and opportunities, and any further data you may need to thrive in the ammunition industry. This ammunition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The growing personal safety concerns and increasing shooting ranges are propelling the growth of the ammunition market.The increasing terrorist activities, mass shootings, increasing gangster activities, and increasing awareness for self-defense are the main reasons for the growing personal safety concerns while the rising awareness about the safe use of guns is the main reason for increasing shooting ranges.
These growing personal safety concerns and increasing shooting ranges have led to the increased procurement of small caliber ammo for personnel safety. For instance, according to a survey commissioned in June 2021 by a nonpartisan American think tank the Pew Research Center, 44% of Republicans and Republican-leaning independents personally own a gun, compared with 20% of Democrats and Democratic leaners. 39% of the men own a gun, compared with 22% of women. In addition, 41% of adults in rural areas own a firearm, compared to about 29% of those in the suburbs and 2 in 10 in cities. The leading reason for owning a gun and firearm was personal safety or protection. Therefore, increasing prevalence of increasing personal safety concerns and increasing shooting ranges is expected to boost demand for ammunition during the forecast period.
The R&D activity to develop advanced ammunition is a key trend in the ammunition market.Key players and related stakeholders are increasingly focusing on research and development activities to advance the ammunition.
The rising incidences of armed international conflicts have directed several countries to enhance their military strengths through the procurement of advanced ammunition and equipment.As a result of this, the defense expenditure for ammunition procurement and R&D activities has increased significantly across the globe over the past few years.
For instance, in April 2021, Lonestar Future Weapons, a US-based advanced technology company focused on the manufacture of next-generation defense solutions formed a strategic alliance with a US-based manufacturer of composite-cased ammunition True Velocity to create synergy by utilizing the expertise of both companies in R&D, precision manufacturing, quality control, and production efficiency. The alliance will focus on the research and development of next-generation weapons and ammunition solutions.
In October 2020, Vista Outdoor Inc, a US-based shooting sports company acquired certain assets and intellectual property related to the ammunition and accessories businesses of Remington Outdoor Company for $81.4 million. This acquisition enables Vista Outdoor to utilize the collective scale, manufacturing infrastructure, distribution channels, and other expertise of both companies to offer Remington products to more customers. Remington Outdoor Company is a US-based company manufacturing firearms and ammunition.
The countries covered in the ammunition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06319231/?utm_source=GNW
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