Pune, India, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The global small caliber ammunition market size is projected to reach USD 8,808.9 million by 2027, exhibiting a CAGR of 1.72% during the forecast period. Surging gun and ammunition sales amid the COVID-19 pandemic in the US will benefit this market in 2020, states Fortune Business Insights™ in its report, titled “Small Caliber Ammunition Market Size, Share and COVID-19 Impact Analysis, By Caliber (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) By Application (Commercial (Shooting Sports & Hunting, and Self-defense), Military & Homeland Security) By Bullet Type (Lead, Copper, Brass, and Others), and Regional Forecast, 2020-2027”. According to the Brookings Institute, in the first half of 2020, 19 million firearms were sold in the US. The National Shooting Sports Foundation reported an 87% increase in gun sales and a 92% spike in ammunition sales in early 2020. Furthermore, in a single week in March 2020, the US Federal Bureau of Investigation (FBI) conducted a record-high 1.2 million background checks. Since the pandemic outbreak, the FBI has reportedly performed over 3.5 million background checks on gun owners, representing an 80% increase from last year's levels. Such widespread adoption of guns and small-caliber ammunition fueled by the COVID-19 contagion and civil protests will provide the tremendous impetus for this market.
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List of Top Companies Profiled in the Small Caliber Ammunition Market Report:
- Vista Outdoor, Inc. (The U.S.)
- Remington Arms Company, LLC. (The U.S.)
- Olin Corporation (The U.S.)
- Nammo AS (Norway)
- Denel SOC Ltd (South Africa)
- Aguila Ammunition (Mexico)
- Sellier & Ballot (Czech Republic)
- RAUG Group (Switzerland)
- Northrop Grumman Corporation (The U.S.)
- General Dynamics Corporation (The U.S.)
- BAE Systems (The U.K)
As per the report findings, the global market value stood at USD 8,140.0 million in 2019. The salient highlights of the report include:
- A broad overview of the industry outlook and trends;
- Granular examination of all market segments;
- Actionable research into the factors driving and restraining the market; and
- A detailed evaluation of the regional developments and competitive landscape of the market.
Restraining Factor
Restrictive Gun Laws in Different Countries May Inhibit Market Growth
Gun ownership laws have evolved over the past several decades across countries, becoming more restrictive with growing instances of gun violence. For example, gun laws have grabbed attention in the US owing to the recent instances of mass shootings in the country. The right to possess firearms is constitutionally protected in the US under the Second Amendment, but misuse of this right has forced the US Supreme Court to impose prohibitions on gun ownership and usage. Similarly, Canada has strict gun laws, prohibiting the possession of automatic weapons and restricting the purchase of handguns and semiautomatic shotguns or rifles. In Australia, the National Agreement on Firearms instituted licensing and registration requirements for owning firearms. These laws are likely to limit the small caliber ammunition market growth as the increasing stringency of gun regulations in many countries will inevitably inhibit the adoption of any sort of ammunition.
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Regional Insights
High Demand for Firearms in the US to Propel the North America Market
At USD 4,412.9 million, North America dominated the small caliber ammunition market share in 2019 and the region is expected to hold its leading position in the global market during the forecast period. The main reason for the region’s dominance is the easy accessibility to firearms in the US, which is fueling the demand for small ammunition in the country. Furthermore, the region is home to some of the largest defense organizations such as General Dynamics and Olin Corporation that are constantly developing and introducing advanced guns and ammos in the US market.
In Asia Pacific, the primary growth driver is the increasing intensity of cross-border tensions between major military spenders such as India and China. Meanwhile, in Europe the demand for small ammunitions is being driven by the rising investments in defense technologies by private companies in the region.
Competitive Landscape
Contractual Partnerships between Key Players and Defense Agencies to Spur Competition
Leading companies are singularly focused on securing contracts from governmental defense agencies to strengthen their hold on the market. These contracts are also enhancing the innovation capacities of the key market players, which in turn are allowing them to diversify their products and expand globally.
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Key Industry Developments:
- June 2020: Thales Group inked a 10-year-long Strategic Domestic Munitions Manufacturing contract with the Government of Australia of an estimated value of USD 686.7 million to supply munitions and small arms to the Australian Defense Force.
- June 2020: Winchester Ammunition bagged a USD 38 million contract from the US Department of Defense (DoD) to deliver frangible 9mm ammunition for indoor and outdoor close-quarter battle (CQB) training.
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
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Small Caliber Ammunition Market
- Impact of COVID-19 on Global Small Caliber Ammunition Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Key Developments in The Industry in Response to COVD-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
TOC Continued…!
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Have a Look at Related Research Insights:
U.S. Small Caliber Ammunition Market Size, Share & Industry Analysis, By Caliber (22 LR, 223 Remington, 308 Winchester, 9mm Luger, 357 Magnum, 45 Auto/ACP, 380 ACP, 40 S&W, 38 Special, 30-06 Springfield, and Others), Casing Type (Brass, Steel, Brass-coated Steel), Bullet Type (Lead, Copper, Brass, and Others), Distribution Channel (Online Stores, Retail Stores (Large Outlets, Shooting Ranges, and Local/ Niche Shops)), and Regional Forecast, 2018-2026
Ammunition Market Size, Share & COVID-19 Impact Analysis; by Application (Military & Homeland Security, and Civil & Commercial) By Caliber (Small, Medium, and Large) By Product (Bullets, Aerial Bombs, Grenades, Mortars, Artillery Shells, and Others), By Component (Fuses& Primers, GunPowder, Projectile, Cases, and Others) By Guidance (Guided, and Non-Guided) By Lethality (Lethal, and Less-Lethal) and Regional Forecast, 2020-2027
Small Arms Market Size, Share and Covid-19 Impact Analysis, By Type (Handgun, Rifle, Shotgun) By Application (Defense & Homeland Security, Self-Defense, Sports, Hunting, and Law Enforcement), and Regional Forecast, 2020-2027
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