Pune, India, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The global small caliber ammunition market size was valued at USD 8.00 billion in 2022 and is projected to reach a valuation of USD 8.11 billion in 2023. The market is expected to reach USD 9.78 billion by 2030 with a CAGR of 2.72% during the forecast period. Small caliber ammunition is a combination of bullets and cartridges fired from a specific weapon. Such ammunition is produced utilizing a diversity of materials such as brass, steel, and others. Surge in the number of hunting and sports activities in U.S. is set to develop demand for ammunition.
Fortune Business Insights™ shares this information in its report titled “Small Caliber Ammunition Market, 2023-2030.”
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List of Key Players Profiled in the Small Caliber Ammunition Market Report:
- Aguila Ammunition (Mexico)
- BAE Systems (U.K.)
- Denel SOC Ltd (South Africa)
- General Dynamics Corporation (U.S.)
- Nammo AS (Norway)
- Northrop Grumman Corporation (U.S.)
- Olin Corporation (U.S.)
- RAUG Group (Switzerland)
- Remington Arms Company LLC (U.S.)
- Sellier & Ballot (Czech Republic)
- Vista Outdoor, Inc. (U.S.)
- Elbit Systems Ltd. (Israel)
- KNDS N.V. (France)
- Thales Group (France)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 2.72% |
| 2030 Value Projection | USD 9.78 Billion |
| Market Size in 2023 | USD 8.11 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 300 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Small Caliber Ammunition Market Growth Drivers | Increasing Usage of Guns for Personal Safety to Propel Market Growth |
| Military Modernization Programs in Major Countries to Boost Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/small-caliber-ammunition-market-102795
COVID-19 Impact:
Sudden Increase In Gun And Ammunition Sales Propelled Market Growth
The COVID-19 pandemic showcased moderate growth as demand and sale surged in the 2020 and 2021. The gun and ammunition industry witnessed unmatched challenges due to COVID-19 pandemic, except the U.S. The country reported a surge in the sales of firearm in the 2020 reaching 120,000 per day. A sudden increase in gun and ammunition sales was fueled by the growing concerns about personal safety and a fluctuating economy.
Segmentation
22LR Caliber Segment To Lead Due To Increasing Use Of Handguns And Rifles
On the basis of the caliber, the market is divided into 223 Remington, 308 Winchester, 9mm Luger, 45 Auto/ACP, 380 ACP, 357 Magnum, 10 Gauge, 12 Gauge, 40 S&W, 20 Gauge, 22LR, 50 BMG, 6.5 Grendel, 7.62*39/54r, 5.56*45, 0.338 Lapua, 30-06 Springfield, and others. 22LR caliber segment is set to lead the segment due to increasing use of handguns and rifles for commercial and military applications.
Commercial Segment Dominated In 2022 With Increasing Defense Expenditures
On the basis of application, the market is divided into commercial and military & homeland security. The commercial segment dominated the market in 2022 due to increasing defense expenditures from several countries. Commercial segment is further divided into shooting sports and hunting and self-defense.
Copper Bullets To Lead The Segment Owing To Its Various Benefits
On the basis of bullet type, the market is classified into lead, copper, brass, and others. Copper bullet segment is anticipated to lead extremely consistent performance and lightweight features of copper bullets.
Based on geography, the market for small caliber ammunition is segmented into North America, Europe, Asia Pacific, and Rest of the World.
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Military Modernization Programs In Various Countries To Push Market Growth
Military modernization programs in various countries is anticipated to drive the small caliber ammunition market growth. Rising threats related to terrorist activities, political unrest, and geopolitical tensions in the Asian and Middle Eastern countries have led to the obtainment of next-generation ammunition and associated equipment. Military spending for R&D activities and increasing ammunition procurement contracts in the U.S. have surged market growth.
However, differences in the legal, economical, and political regulations are expected to hamper the market growth for small caliber ammunition.
Regional Insights
North America To Lead Due To Presence of Various Key Players
North America is expected to have a high part in the small caliber ammunition market share due to presence of key players Olin Corporation, Northrop Grumman Corporation, and General Dynamics Corporation.
After North America, Asia Pacific to have substantial growth with increasing terrorist activities in the Asian countries. In 2020, the defense budgets for China, India, Japan, and South Korea was USD 237 billion, USD 61 billion, USD 49 billion, and USD 44 billion, respectively.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Market Trends
- Porters Five Forces Analysis
- Supply Chain Analysis
- Region Wise Small Caliber Ammunition Manufacturers/ Retailers/Suppliers
- Quantitative Insights- Impact of COVID-19 Pandemic on Small Caliber Ammunition Market
- Impact of COVID-19 on Global Small Caliber Ammunition Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Potential Opportunities Due to COVID-19 Outbreak
- Global Small Caliber Ammunition Market Analysis, Insights and Forecast, 2019-2030
- Segmental Definitions
- Market Analysis, Insights and Forecast – By Caliber
- 223 Remington
- 308 Winchester
- 9mm Luger
- 357 Magnum
- 40 S&W
- 45 Auto/ ACP
- 380 ACP
- 10 Gauge
- 12 Gauge
- 20 Gauge
- 22LR
- 7.62*39/ 54r
- 50 BMG
- 6.5 Grendel
- 5.56*45
- .338 Lapua
- 30-06 Springfield
- Others
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Military & Homeland Security
- Market Analysis, Insights and Forecast – By Bullet Type
- Lead
- Copper
- Brass
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- Latin America
TOC Continued...!
Competitive Landscape
Focus On Business Expansion With Defense Forces Of Various Countries To Pave Way for Market Development
The global market has numerous market players which are focusing on business expansion strategies with defense forces of various countries. In April 2020, Nammo AS signed a contract with Swedish Defense Materiel Administration which was worth USD 68.3 million for the delivery of small caliber ammunition. This will allow Swedish Armed forces to toughen their military training program.
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Key Industry Development
- February 2023- U.S. Army has granted the contract for production, test, and supply 5 million 6.8mm Next Generation Squad Weapon (NGSW) cartridges to Winchester Ammunition.
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