New York, United States , Oct. 31, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Small Caliber Ammunition Market Size to grow from USD 12.35 billion in 2021 to USD 12.91 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 0.5% during the forecast period. The Small Caliber Ammunition market is anticipated to be driven by rising global hunting and sporting activities and rising military spending. Most nations have started expanding their military capabilities to combat terrorism and protect their borders from escalating geopolitical rivalry. Additionally, several nations are concentrating on strengthening their law enforcement organizations to manage domestic problems. These tendencies are anticipated to fuel the demand for weapons and ammunition, supporting the Small Caliber Ammunition market's expansion. The Europe is expected to grow the fastest during the forecast period followed by North America.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The 5.56 X 45 mm segment to account for the largest market size during the forecast period
Based on the Caliber, the Global Small Caliber Ammunition Market is categorized into 5.56 mm, 7.62 mm, 9 m, .50 BMG and Others. The 5.56 X 45 mm segment to account for the largest market size during the forecast period. The 5.56 X 45 mm product continues to be appreciated by American military members and ordinary gun owners. The 7.62 x 39 mm section is often used for hunting due to its inexpensive price and ease of availability. Its great knockdown power, mild recoil, and weight of about 8 grams all contribute to its high demand.
Browse key industry insights spread across 198 pages with 105 market data tables and figures & charts from the report "Global Small Caliber Ammunition Market Size, Share, and COVID-19 Impact Analysis, By Caliber (5.56 mm, 7.62 mm, 9 m, 0.50 BGM and Others), By Application (Civil & Commercial and Defense) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030. ", in detail along with the table of contents
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The Defense segment to hold a higher CAGR during the forecast period
Based on the Application, the Small Caliber Ammunition market is categorized into Civil & Commercial and Defense. The Defense segment to hold a higher CAGR during the forecast period. Due to rising demand from influential military all over the world, it is anticipated to dominate the market over the forecast period. Due to rising political and territorial tensions around the world, there will likely be a growing demand for ammunition, which will increase the market for small calibre ammunition. This category will expand as bullets and other tiny ammunition used in the defence industry continue to be improved and standardised. Additionally, nations are voluntarily spending money to develop guns and ammunition for security reasons, which is fueling the market for small-caliber ammunition.
Europe to hold a higher CAGR during the forecast period.
The Global Small Caliber Ammunition Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is estimated to account for the highest market share in 2022. North America's defence expenditure has grown, which has a big impact on the bullet market worldwide. The U.S. Department of Defense's long-term competitive strategy for the development of new technologies and military paradigms is anticipated to support market expansion. Due to rising product demand from hunters and firearm enthusiasts as well as weapon modifications by law enforcement organisations, the industry in the United States has shown impressive expansion in recent years. Industry expansion is anticipated to be positively impacted by increased defence spending and flexible firearms laws.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Northrop Grumman Corporation, FN Herstal, Hornady Manufacturing Company, Inc., General Dynamics Corporation, Nosler, Inc., Rheinmetall Defense, Remington Arms Company LLC, Vista Outdoor Operations LLC, Sierra Bullets, Australian Munitions, Nammo AS, Poongsan Corporation, ST Engineering, DSG Technology AS, Winchester Ammunition, Inc. and Other Prominent Key Players.
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