(MENAFNEditorial) iCrowdNewswire - Nov 23, 2017
Ammunition market is projected to grow from USD 18.08billion in 2016 to USD 21.98billion by 2021, at a CAGR of 3.98% from 2016 to 2021.
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Top Companies Analyzed for Ammunition Market are 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.
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. However, formulation and implementation of stringent gun control legislations and the difference in economic, legal, and political regulations pertaining to procurement of ammunition across the globe may restrain the growth of the global ammunition market during the forecast period.
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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. Terror incidences, such as mass shootings in schools and clubs in various countries across the globe have resulted in growing demand for guns for self-defense.
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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Target Audience:
- Armed Services
- Government Defense Regulatory Bodies
- Law Enforcement Agencies
- Ministry of Homeland Security
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.
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This research report categorizes the global ammunition market on the basis of application (defense and civil & commercial), caliber (small caliber ammunition, medium caliber ammunition, large caliber ammunition, artillery ammunition, and mortar ammunition), type (cartridge based and non-cartridge based), and cartridge type (rimfire and centerfire). These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia-Pacific, the Middle East, and rest of the world.
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