Hyderabad, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Small Caliber Ammunition Market Report (2023-2028)," the market is estimated at USD 5.85 billion in 2023. It is expected to register a CAGR of 4.84% during the forecast period.
The term small caliber refers to a specific category of ammunition. It includes the production and deployment of ammunition under .50 (12.7mm), 7.62 mm, 9 mm, .30 caliber, .38 caliber and .300 Winchester Magnum (WinMag). This segment also consists of procurement by the military, local law enforcement agencies, homeland security, special forces, and border security forces.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 5.85 billion |
| Market Size (2028) | USD 7.41 billion |
| CAGR (2023-2028) | 4.84% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing investments for new equipment procurement. |
| Increased focus on military modernization programs. |
Who are the Top Companies in the Global Small Caliber Ammunition Market?
The global small caliber ammunition market is highly competitive and fragmented because of the presence of established local and global players in the market. Certain countries produce small quantities of ammunition to meet specific military needs.
Notable players in the global small caliber ammunition market are,
- Northrop Grumman Corporation
- General Dynamics Corporation
- BAE Systems PLC
- Denel SOC Ltd
- Remington Arms Company LLC
- CBC Global Ammunition
- RUAG Group
- MESKO
- Nammo AS
- Olin Corporation
- CCI Ammunition
- Elbit Systems Ltd
- Ordnance Factory Board (OFB)
- PT Pindad
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Key Highlights from the Small Caliber Ammunition Market Report:
A Major Market Share was Held by the Military Segment
- The amount countries are willing to spend on defense has drastically increased over the years due to the increased rate of territorial conflicts, terrorism, and geopolitical tensions.
- As per the reports of SIPRI, in the year 2021, the expenditure on the military went as high as 2113 billion globally. In just one year, the expenditure rose by a whopping 7%.
North America Constitutes the Biggest Market for Small Caliber Ammunition
- The United States owns one of the largest armed forces in the whole world, which is around a whopping 1.83 million military personnel.
- In North America, United States Alone spent around 880.67 US dollars on its military force in the year 2021. As far as military bases are concerned, the United States has around 750 in 80 countries around the world.
What are the Latest Developments in the Small Caliber Ammunition Market?
- In May 2021, around 11 million rounds of 5.56x45mm caliber bullets were dispatched to the United States by India’s Ordinance Factory Board (OFB).
- In April 2021, an order of an undisclosed quantity of 5.56 caliber ammunition was received from Thailand by a state-owned enterprise, PT Pindad.
Mordor Intelligence has Segmented the Small Caliber Ammunition Market Based on End Use and Geography.
- By End Use (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Civilian
- Military
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Europe
- United Kingdom
- France
- Germany
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Egypt
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Small Caliber Ammunition Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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