Newark, NJ, June 25, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Small & Medium Caliber Ammunition market is expected to grow from USD 9.57 billion in 2020 and to reach USD 13.4 billion by 2028, growing at a CAGR of 4.3% during the forecast period 2021-2028.
The Small & Medium Caliber Ammunition market is witnessing significant growth from the past years. This growth is attributed to procurement of small caliber ammunition by armed forces, local enforcement agencies, and border security forces and increasing use of ammunition for hunting and other sports activities in the market of several countries like North America. The introduction of various advanced applications in the market, such as environment-friendly bullets, eliminating lead by using polymer-based ammunition will propel the small & medium caliber ammunition market. The growing adoption of the increasing usage of copper and zinc alloys to cover bullets will influence the market.
Small & Medium Caliber Ammunition is referred to as combination of cartridges and bullets fired or dispersed from a weapon, especially a pistol. It consists of gunpowder and primer for ignition or explosion. These are the bullets used with fuses, the propulsive charges used in pistols, small arms and artillery. Such ammunition is produced using a variety of materials such as brass, steel and others.
The global small & medium caliber ammunition market is expected to witness significant growth, owing to increasing procurement of small caliber ammunition by armed forces, local enforcement agencies, and border security forces, increasing use of ammunition for sports and hunting activities, increasing usage of guns for personal safety, growing need for large infantry forces, which is also an important component of military modernization programs to improve and upgrade their surveillance capabilities and enhance their firepower assets, the increased incidence of intranational and international armed conflicts has prompted several countries to strengthen their military forces by procuring advanced ammunition and equipment, imports and exports across the globe and military spending on R&D activities, increase in the application of handguns, light machine guns, shotguns, short-range rifles. The factors restraining the market growth are differences in economic, legal, and political regulations to restrict growth and restricted international trade of small-caliber ammunition.
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Key players operating in global small & medium caliber ammunition market include BAE Systems (The U.K), General Dynamics Corporation (The U.S.), Northrop Grumman Corporation (The U.S.), RAUG Group, Sellier & Ballot, Aguila Ammunition, Denel SOC Ltd, Nammo AS, Olin Corporation, Remington Arms Company, Vista Outdoor, Inc. To gain a significant market share in the global small & medium caliber ammunition market, the key players are now focusing to design and developing environment-friendly ammunition.
7.62 x 39 mm product segment dominated the market and held the largest market share of 15% in the year 2020
On the basis of Product, the global small & medium caliber ammunition market is segmented into 7.62 x 39 mm, 7.62 x 54 mm, 30 x 165 mm, 23 x 152 mm, 23 x 115 mm, 12.7 x 108 mm, 14.5 x 114 mm. 7.62 x 39 mm product segment dominated the market and held the largest market share of 15% in the year 2020. This growth is attributed to greater use due to its compatibility with the AK-47 line of rifles, various trends and product development stages. Moreover, the high demand for the same has prompted the indigenous government to target and develop its local production and they are cost-effective due to their high availability and user acceptance in all regions.
Military & homeland security segment dominated the market and held the largest market share of 65% in the year 2020
On the basis of application, the global small & medium caliber ammunition market is segmented into commercial and military & homeland security. Military & homeland security segment dominated the market and held the largest market share of 65% in the year 2020. This growth is attributed to the increasing demand for ammunition in military modernization programs and defence expenditures, and growing threats from terrorism, territorial conflicts and geopolitical tensions have forced countries to increase defence spending in several countries all over.
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Regional Segment of Small & Medium Caliber Ammunition Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global Small & Medium Caliber Ammunition market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share in the year 2020. This growth is ascertained by the U.S. in the North America region owing to rising defence expenditure and military modernization programs in the country. Growing investments from private defence companies will propel the region's market growth. The market in Asia Pacific is expected to witness significant growth in terrorist activities, growing political conflicts, and increasing investments in the country. The Europe region is witnessing significant growth in development of advanced calibers for defence companies.
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About the report:
The global small & medium caliber ammunition market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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