Fort Collins, Colorado, April 26, 2024 (GLOBE NEWSWIRE) --
Growing Demand for Non-Military Applications of Small Caliber Ammunition
The small caliber ammunition industry includes the manufacture, distribution, and sale of ammunition designed primarily for small arms such as pistols, rifles, and machine guns. Small caliber ammunition is an essential component of military, law enforcement, and civilian weapons, providing a variety of functions including self-defense, training, hunting, and leisure shooting.
The growing demand for non-military uses of small caliber ammunition represents a substantial opportunity for the small-caliber ammunition market. Small caliber ammunition is being used in a variety of civilian purposes, including sports shooting, hunting, and personal protection. According to a National Shooting Sports Foundation (NSSF) estimate, the number of target shooting participants in the United States will reach 56.8 million in 2020, up 6.2% from the year before. The growing popularity of shooting sports, combined with increased concerns about personal safety, is likely to drive demand for small caliber ammunition in the civilian market. Furthermore, the increasing usage of small caliber ammunition in law enforcement and homeland security applications, such as training and anti-terrorism operations, broadens the expansion of the market.
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Segmentation Overview:
The small caliber ammunition market has been segmented into ammunition size, end user, and region.
Other segments dominate the segment growth in 2023.
- The ammunition size segment includes 5.56 mm, 7.62 mm, 9 mm, 12.7 mm, 14.5 mm, 45ACP, and others. The other segment holds the majority of the revenue share of around in 2023. Other parts include 6.8mm Remington SPC, 6.5mm Creedmore, .338 Norma Magnum, .338 Lapua Magna and 25mm caliber bullets.
The military segment dominate the end user segment in 2023.
- Based on end-user, the market is categorized into military, homeland security, and law enforcement agencies. The military segment leads the market growth with a majority of market share in 2023. Increasing investments in defense for military modernization programs for the procurement of better equipment to replace its existing arsenal is also acting as one of the key market drivers of the small caliber ammunition market.
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Small Caliber Ammunition Market Report Highlights:
- The small caliber ammunition market growth is anticipated at a CAGR of 4.7% by 2032.
- Growing defense budgets and military modernization plans around the world are important drivers of the Small Caliber Ammunition Market. Governments are investing in modernizing their armed forces, including the acquisition of modernized small guns and ammunition. The Stockholm International Peace Research Institute (SIPRI) estimates that global military spending will reach $1.98 trillion in 2020, with the United States, China, and India leading the way. As governments seek to preserve their military readiness and fighting capabilities, the need for small-caliber ammunition grows.
- North America dominates the small caliber ammunition market in 2023. In North America, the small caliber ammunition market has remained robust since many firearms are owned for personal security, hunting, and sports shooting.
- Some prominent players in the small caliber ammunition market report include CBC Global Ammunition, NAMMO AS, Remington Ammunition, General Dynamics Ordnance and Tactical Systems, Northrop Grumman Corporation, BAE Systems Plc, Elbit Systems Ltd, FN HERSTAL, Winchester Ammunition, and Denel PMP among others
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