Ammunition Market worth $24.9 billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 11, 2020 /PRNewswire/ -- According to the new market research report "Ammunition Market by Application (Defense, Civil & Commercial), Caliber (Small, Medium, Large), Product (Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars), Component, Guidance, Lethality (Lethal, Less-lethal), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Ammunition Market size is projected to grow from USD 20.8 billion in 2020 to USD 24.9 billion by 2025, at a CAGR of 3.6% from 2020 to 2025. Factors such as the changing nature of warfare, the militarization of police forces, the increasing incidence of drug trafficking, and terrorist activities, and the modernization of armed forces are driving factors assisting the growth of the ammunition market. Apart from its use in defense forces, ammunition also sees increasing importance in civil and commercial applications such as sporting, hunting, and self-defense, among others.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=923    

COVID-19 has affected the ammunition market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for ammunition in defense applications. However, due to continuous lockdown and social distancing measures, there has been a decrease in the demand for ammunition in civil and commercial applications. For instance, hunting and sporting activities (which are a major driving factor for civil and commercial applications) have been reduced significantly.

Increasing spending on the modernization of armed forces is driving the growth of the defense applications

The defense segment of the ammunition market has been classified into military and homeland security. The growth of the defense segment of the ammunition market can be attributed to the increased spending of countries on military modernization programs, as well as the rise in terrorist activities and civil disturbances in several parts of the world.

Based on caliber, the small caliber segment of the ammunition market is projected to witness the highest CAGR during the forecast period

Based on caliber, the ammunition market has been segmented into small, medium, large, and others. The small caliber segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to increased use of small caliber ammunition by military and homeland security personnel, owing to less lethality of this ammunition. Moreover, open online marketplaces for small arms and ammunition and increased procurement of small caliber ammunition by the defense and homeland security sectors to curb rising instances of armed conflicts are also contributing to the growth of this segment.

Aerial bombs segment of the ammunition market is projected to witness highest CAGR owing to increasing focus on upgrading of air force inventory by armed forces

Based on products, the ammunition market has been segmented into bullets, aerial bombs, grenades, artillery shells, and mortars. The aerial bombs segment is projected to grow at the highest CAGR. In recent years, an increasing focus has been observed to upgrade air force inventory across the globe due to multiple reasons such as geopolitical tensions and air force applications. For instance, the US has ongoing F-35 fighter aircraft programs. Whereas the Indian air force is looking for multi-role aircraft to strengthen their armed forces, and hence new aircraft procurements will lead to an increased demand for related ammunition in the coming years. Hanwha Corporation (South Korea) and General Dynamics Corporation (US) manufacture aerial bombs for applications.

Browse in-depth TOC on "Ammunition Market"

392 – Tables 
107 – Figures 
393 – Pages         

Inquiry Before Buying:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=923

The North America market is projected to contribute the largest share from 2020 to 2025

The ammunition market in the North American region has been studied for the US and Canada. Major factors that are expected to drive the growth of the market in the region include rising instances of terrorism, which have led to increased use of ammunition by armed forces and a growing number of drug cartels in Central America

North American countries are awarding a number of contracts to major players of the ammunition market for the delivery of ammunition, thus driving the growth of the ammunition market in the region. For instance, In July 2020, Northrop Grumman Corporation secured a contract from the US Army to deliver the next-generation airburst cartridge for the 30mm XM813 Bushmaster Chain Gun. The Bushmaster Chain Gun will be installed on the Stryker Infantry Carrier Vehicle (ICV). Also, the company has secured a contract worth USD 93 million from the US Army for the manufacture of multipurpose munition technology for destroying targets such as lightly armored infantry fighting vehicles. The munitions are expected to be compatible with the M4A1 rifle.

The ammunition market is dominated by a few globally established players such as Northrop Grumman Corporation (US), CBC Global Ammunition (Brazil), BAE Systems (UK), Thales Group (France), and General Dynamics Corporation (US), among others.

Related Reports:        

Less Lethal Ammunition Market by End User (Law Enforcement, Military, Self Defense), Product (Rubber Bullets, Bean Bag Rounds, Plastic Bullets, Paintballs), Weapon Type (Shotguns, Launchers), and Region - Global Forecast to 2023

Automatic Weapons Market by Product (Automatic Rifle, Machine Gun, Automatic launchers, Automatic Cannon, Gatling Gun), End Use (Land, Airborne, Naval, Handheld & Stationary), Caliber (Small, Medium, Large), Type, and Region - Global Forecast to 2023

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com

Research Insight : https://www.marketsandmarkets.com/ResearchInsight/ammunition-market.asp

Content Source : https://www.marketsandmarkets.com/PressReleases/ammunition.asp

SOURCE MarketsandMarkets