Pune, India, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Small Caliber Ammunition Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and by Ammunition Size, End User, Gun Type, and Geography”, the small caliber ammunition market was valued at USD 5.92 billion in 2020 and is projected to reach USD 10.24 billion by 2028; it is expected to grow at a CAGR of 7.5% from 2021 to 2028. The increase in adoption of guns for safety purposes, and rise in threats from terrorist activities. However, the regulatory restrictions in small caliber ammunition industry is expected hinder the growth of the market.
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Global Small Caliber Ammunition Market: Segmental Overview
Based on ammunition size, the small caliber ammunition market is segmented 5.56mm, 7.62mm, 9mm, 12.7mm, 14.5mm, 45ACP, .338mm, .22LR, 223 REM, and .308 Winchester. The 9mm segment held the largest share of the market in 2020, whereas the 7.62 mm segment is anticipated to register the highest CAGR in the market during the forecast period. Based on end user, is segmented into military, homeland security, and law enforcement agencies. The law enforcement agencies segment held the largest share of the small caliber ammunition market in 2020, whereas the homeland security segment is anticipated to register the highest CAGR in the market during the forecast period. Based on gun type, the small caliber ammunition market is segmented into pistols, rifles, and shot guns. The pistols segment held the largest share of the market in 2020, whereas the rifles segment is estimated to register the highest CAGR in the market during the forecast period.
The United States has emerged as the leader in the small caliber ammunition market due to several factors that have fueled its market growth. Firstly, the country has a large civilian market driven by a strong culture of gun ownership and a substantial population of firearm enthusiasts, sport shooters, and hunters. This sizable domestic market generates significant demand for small caliber ammunition as individuals engage in shooting activities for self-defense, recreation, and sport. Additionally, the United States possesses a well-established and highly developed ammunition manufacturing industry. The country is home to major ammunition manufacturers with a long history of producing high-quality ammunition. This robust manufacturing base ensures a steady supply of small caliber ammunition to meet the domestic demand and supports export opportunities, contributing to market growth. Furthermore, the United States has one of the largest defense and law enforcement sectors globally, which drives the demand for small caliber ammunition. Military and law enforcement agencies require substantial ammunition for training exercises, operational purposes, and law enforcement activities.
Government contracts and procurement programs significantly contribute to the demand for ammunition, bolstering market growth. Technological advancements in ammunition design and manufacturing processes also play a vital role in the US market's success. American companies invest heavily in research and development to improve small caliber ammunition's performance, accuracy, and reliability. These technological advancements attract domestic and international customers, further supporting market growth. Moreover, the United States is known for hosting numerous shooting sports events, including professional competitions and recreational shooting activities. The popularity of these events generates a strong demand for small caliber ammunition among participants and enthusiasts. Additionally, the country's supportive legal framework, including the Second Amendment guaranteeing the right to bear arms, fosters a favorable environment for firearm-related industries, including the small caliber ammunition market.
Lastly, the United States capitalizes on export opportunities, serving as a major exporter of small caliber ammunition. American manufacturers leverage their reputation for high-quality ammunition and the country's strong manufacturing capabilities to supply ammunition to military and law enforcement agencies and civilian customers worldwide. The large civilian market, strong manufacturing base, defense and law enforcement demand, technological advancements, shooting sports culture, supportive legal framework, and export opportunities have all contributed to the United States' leading position in the small caliber ammunition market, driving its market growth and dominance. Surge in Demand for Light Weight Ammunition and Development in Small Caliber Ammunitions Provides Lucrative Opportunities for Small Caliber Ammunition Market.
The surge in demand for lightweight ammunition and the development of small ammunition present significant opportunities for market growth in the small caliber ammunition industry. Here's an overview of how these factors contribute to the expansion of the market: The increasing demand for lightweight ammunition is driven by various factors. Firstly, advancements in firearms technology have led to the development of lighter and more compact firearms. These firearms often require corresponding lightweight ammunition to optimize their performance. Additionally, military and law enforcement agencies increasingly focus on equipping their personnel with lighter gear to enhance mobility and reduce fatigue. As a result, a growing preference for lightweight ammunition aligns with these requirements. Developing small ammunition, including innovative calibers and designs, also contributes to market growth. Manufacturers invest in research and development to create ammunition that offers improved ballistics, terminal performance, and reduced recoil. Small ammunition is particularly attractive for concealed carry handguns, compact firearms, and specialized applications where smaller size and reduced weight are crucial factors. These opportunities drive market growth in several ways. Firstly, the surge in demand for lightweight ammunition and small caliber options creates a need for specialized products that cater to these requirements.
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Ammunition manufacturers can develop and offer a wide range of lightweight and small ammunition options to meet this demand, expanding their product portfolios and attracting new customers. Secondly, developing lightweight and small ammunition fosters innovation within the industry. Manufacturers strive to create ammunition that offers superior performance and meets customers' evolving needs. This drive for innovation leads to advancements in bullet design, propellant technology, and manufacturing processes, resulting in more efficient and effective ammunition. Furthermore, the demand for lightweight and small ammunition extends beyond the military and law enforcement sectors. Civilian shooters, including concealed carry permit holders, sport shooters, and recreational shooters, also seek ammunition options that are easy to carry, have reduced recoil, and provide enhanced shooting experiences. As a result, the market for lightweight and small ammunition expands to include a broader consumer base. Additionally, the growth of the lightweight and small caliber ammunition market has a positive ripple effect on related sectors. It drives the development of firearms specifically designed for these calibers, stimulates the production of firearm accessories tailored to lightweight firearms, and increases the demand for specialized training and shooting ranges that cater to these ammunition types.
Global Small Caliber Ammunition Market Analysis: Competitive Landscape and Key Developments
BAE Systems, CBC Global Ammunition, Denel Pretoria Metal Pressing, Elbit Systems Ltd., FN Herstel, General Dynamics OTS, Nammo AS, Northrop Grumman Corporation, Remington Arms Company LLC, and Winchester Ammunition are a few of the key companies operating in the small caliber ammunition market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In December 2021, India has approved a major deal for manufacturing over 0.5 million AK-203 rifles in India. The rifles will be manufactured in India as part of the joint venture Indo-Russia Rifles Pvt Ltd (IRRPL). The Indian Army has a requirement for around 770,000 AK-203 rifles, of which 100,000 will be imported, and the rest will be manufactured in India, under a contract worth USD 674 million (INR 5,124 Crore). The Indian AK-203 will fire 7.62 x 39 mm ammunition, which is different from 7.62×51 mm ammunition used by present-day AK-47 rifles of the Indian Army.
In May 2021, India’s Ordnance Factory Board (OFB) dispatched 11 million rounds of 5.56x45mm (M193) caliber bullets to the United States. This was the first major export order of OFB for small arms ammunition from the United States.
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