According to a new market research report published by Credence Research, “Ammunition Market (by Caliber (Small, Medium, Large, Artillery, Mortar), By End-use (Defense, Public Safety, Others)) – Growth, Future Prospects and Competitive Landscape, 2017-2025”, Ammunition market is estimated to grow at a CAGR 4.2% from 2017 to 2025.
The complete report is available at https://www.credenceresearch.com/report/ammunition-market
Countries across the globe are facing significant concerns related to terrorism, civil wars and armed conflicts between law enforcement agencies and anti-national groups. Numerous governments are striving extensively to tackle such situation peacefully. However, in certain situations, harsh steps are needed to be taken such as use of fire arms in favor of national security. Current scenario has created a continuous demand for ammunition to tackle the aforementioned situation in most of the countries. In the age of arms race, every country allot a considerable budget for arms and ammunition for their country’s security. This has elevated the ammunition market and is expected to grow further in the following years.
Ammunition market has witnessed a consistent growth from past many years. Issues such as constant conflicts between countries and rising terrorist activities across the globe have forced countries to spend considerable amount of fortune for ammunition for their arm forces. In addition, rising crime rate is also one of the major reason for the governments to procure ammunition for their law enforcement agencies. Public safety services and law enforcement agencies frequently encounter hostile situation where they are forced to use fire arms. This is one of the prime reason for uplifting the ammunition market. Ammunition are also used for activities such as sports and hunting. Many countries promote season hunting and encourage sports related to fire arms such as clay shooting. Consequently, the demand for ammunition is expected to show consistent growth throughout the forecast period.
Ammunition market is segmented based on the caliber, end-use, and geography. On the basis of caliber, ammunition are classifies as small, medium, large, artillery and mortar. Majority of the market is shared by small and medium caliber ammunition. According to the end-use ammunition market is segmented into defense, public safety and others. Public safety contribute the largest share in the end-use segment in terms of revenue.
Globally, Asia Pacific leads the overall Ammunition market. Perpetually rising terrorist activities and territorial conflicts between nations of Asia Pacific resulted in increase of demand of ammunition for strengthening the defense capabilities of the country. North America trails Asia Pacific in ammunition market in terms of revenue. U.S. is one of the major ammunition supplier country across the world. Frequent activites related to war has build up a strong position for ammunition market in North America.
The global ammunition market is consolidated in nature with limited ammunition manufacturers contributing in overall share of market. Major ammunition manufacturers include General Dynamics Corporation, Magtech Ammunition Company, Inc., Remington Arms Company, Inc., Denel PMP, Ruag Ammotec, Maxam, Global Ordnance, Federal Premium Ammunition, Hornady Manufacturing, BAE Systems, Poongsan Corporation and Nexter Munitions. Different strategies have been undertaken by the companies in order to establish dominance in the ammunition market. Strategies such as strategic mergers and acquisition are frequently witnessed between ammunition manufacturers.
– Continuous efforts are been taken by the manufacturers to win contracts from the government agencies across the globe
– Strategic merger and acquisitions among the major ammunition manufacturers
– New age arms and ammunition are being developed at a fast pace
– Increasing promotion of the sports related to firearms