The North America small caliber ammunition market is expected to grow from US$ 2,298. 44 million in 2021 to US$ 3,688. 36 million by 2028; it is estimated to grow at a CAGR of 7. 0% from 2021 to 2028. The rising need of modernizing military operations with rapid changes in warfare is expected to surge the market growth.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Small Caliber Ammunition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Ammunition Size, End User, and Gun Type" - https://www.reportlinker.com/p06103284/?utm_source=GNW
Rapid changes in modern warfare are urging governments of North American countries to allocate higher amounts toward respective military forces. The forces are focusing on caliber sizes such as 7.62 mm for attaining greater projectile ranges, as the existing calibers such as 5.56 mm are becoming ineffective in piercing tougher armors. The military budget allocation enables the military forces to engage themselves in the development of robust indigenous technologies alongside procuring advanced weapons, ammunitions, vehicles, and other equipment from domestic and international manufacturers. Moreover, the solider and military vehicle modernization practices help them keep their personnel and vehicles mission ready. The increased military investments are being channelized toward the procurement of newer technologies, including different types of ammunitions, which is boosting the growth of the North America small caliber ammunitions market. The militaries of North America maintain an arsenal consisting of numerous self-propelled and towed howitzers and main battle tanks (MBTs). The armies are involved in regular training exercises with these weapon systems. Therefore, they need to stock significant quantities of tank, artillery, and training ammunition, depending on the number of launch platforms they possess. Small caliber ammunition is a part of artillery ammunition of various defense forces. Moreover, military professionals are focusing on calibers such as 7.62mm for higher projectiles, as the existing widely used calibers such as the 5.56 mm are becoming ineffective in piercing tougher armors. Therefore, the government and military forces are emphasizing on investing on ammunitions, which is fostering the North America small caliber ammunition market.
The COVID-19 pandemic has had no impact on ammunition demand in the defense sector in the US.The US Department of Defense (DoD) has asked manufacturers to continue with ammunition-related product activities.
However, the demand for ammunition in civil and commercial applications has shifted, particularly in sporting and hunting activities. The demand for ammunition for self-defense purposes has increased significantly. “About 2 million guns were sold in the US as virus fears spread,” according to the New York Times, which highlights the increased ammunition demand for self-defense applications in April 2020.
Based on ammunition size, the 9 mm segment led the North America small caliber ammunition market in 2020.The 9 mm caliber is one of the commonly used military pistols and submachine gun calibers.
The military and intelligence services mostly employ 9 mm Parabellum pistols and submachine guns.Due to the availability of lightweight handguns with wide magazine capacities that use the 9 mm Parabellum cartridge, it has become the most common caliber among law enforcement officers in the US.
The 9 mm bullet has a top speed of 45.39 m/s. and it is most often used for 22-meter range. The 9 mm Luger has gained popularity as a self-defense caliber for lightweight and easy to carry weapon. It has a powerful cartridge for its size, with well-designed bullets. The advantages such as light weight, less recoil, and easy availability of 9 mm caliber are expected to increase its demand, thereby driving the North America small caliber ammunition market.
The overall North America small caliber ammunition market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America small caliber ammunition market.
The process also serves the purpose of obtaining overview and forecast for the North America small caliber ammunition market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America small caliber ammunition market. BAE Systems Plc, CBC Global Ammunition, Denel PMP, Elbit Systems Ltd., FN HERSTAL, General Dynamics Ordnance and Tactical Systems, NAMMO AS, Northrop Grumman Corporation, Remington Ammunition, and Winchester Ammunition are among a few players operating in the North America small caliber ammunition market.
Read the full report: https://www.reportlinker.com/p06103284/?utm_source=GNW
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