Global Ammunition
Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
In this report, we
thoroughly examine and analyse the Global market for Ammunition so that market
participants can improve their business strategy and ensure long-term success.
This report provides players with useful information and suggests result-based
ideas to give them a competitive advantage in the global Ammunition industry. It
will show how other players compete in the global Ammunition Market and explain
the strategies you use to differentiate yourself from other participants.
This Research Report
Answers the Following Questions:
·
How Ammunition
market will grow in
the coming year?
·
Will the COVID-19 pandemic surge the demand for such platforms?
·
How are key companies planning to promote benefits of Ammunition?
·
What are the industry growth drivers, obstacles, and dynamics?
·
Which segment is expected to lead in the coming years?
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Industry Insights
The global Ammunition
Market size is likely to reach USD 16.07 billion by 2024 and is anticipated to
experience a noteworthy growth in the near future owing to the rising security
concerns caused by the upswing in terrorist groups and activities. Arms race
has been observed in the developing economies of Pakistan, China and India
which is presumed to thrust the demand over the forecast period.
The market has been
segmented into different products that primarily consist of rockets, bullets,
mortars and others. Civil & defense are the two end-use segments included
in the study. Political differences along with the rising tension across borders
is resulting in the rise in stacking of armories.
According to the latest
statistics published by Stockholm International Peace Research Institute
(SIPRI), China, Saudi Arabia, Russia, and the U.S were the foremost nations
having highest expenditure on armories. The majority of the share was captured
by the U.S with 36%, followed by China with a share of 13% in 2015.
Rising inclination towards
hunting and sports activities has enhanced ammunition market. In terms of
exports, the U.S is amongst the major exporter of weapons and armories across
the globe. The U.S armory industry is a commercialized segment and a
significant contributor in the countries’ economy. In the context of R&D,
innovation and production, the U.S ranks on top.
End-Use Insights
Civil or domestic was the
most noticeable segment which accounted for 74.5% of the total revenue share.
The domestic segment is expected to observe a substantial rise as a result of
high growth from hunting & sports activities in the near future. The
domestic segment comprises of sports & hunting, self-defense and law
enforcement.
Outdoor and adventure
activity is massive occupation in North America, specifically in the U.S.
According to the latest study conducted by U.S. Fish and Wildlife Services,
Americans spend around USD 50 billion on hunting and sports activities in 2015.
All these aspects enhance the complete growth of the ammunition industry.
Regional Insights
Asia Pacific, which is
projected to grow at a CAGR of 4.5%, also accounted for the highest share in
2015 and is projected to continue the trend over the forecast period. The
upsurge of terrorism activities in developing economies such as India is
resulting in the strengthening of the overall defense system of the country.
India signed several contracts valued at USD 15 billion to buy armories in
March, 2016.
Production of small
armories and weapons is a leading industry in Europe as a result of which it
has retained its position as one of the key arms exporter across the globe. Key
countries in Europe consists of the U.K, France, Germany and Russia.
Competitive Insights
Major businesses in the
market include General Dynamics Corporation, Remington Arms Company, Inc., BAE
Systems, Ruag Ammotec, Federal Premium Ammunition and Maxam and Poongsan
Corporation.
With a view of safeguarding
a solid position in the market and minimize competitiveness, the international
weapons and armories industry has constantly experienced mergers and
acquisitions by the key participants. BAE systems merged with General dynamics
ordnance and tactical systems in the year 2012 to produce RCGM i.e. an 81mm
Roll Controlled Guided Mortar.
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