Ammunition - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Ammunition Market is accounted for $24.96 billion in 2018 and is expected to reach $37.84 billion by 2027 growing at a CAGR of 4.7%. Rising use of guns for personal safety and shooting sports, military modernization programs being carried out in major countries across the globe. However, differences in economic, legal, and political regulations affect the procurement of ammunition are likely to hamper the profit boundaries.
Ammunition is the material fired, scattered, dropped or detonated from any weapon. Ammunition is both expendable weapons (e.g., bombs, missiles, grenades, land mines) and the component parts of other weapons that create the effect on a target (e.g., bullets and warheads). Nearly all mechanical weapons require some form of ammunition to operate. Ammunition and munitions are often used interchangeably, although munition now usually refers to the actual weapons system with the ammunition required to operate it
Based on the caliber, the market has been segmented into small, medium, large, and others. Increasing demand for small arms from armed forces and law enforcement agencies of various countries is fueling the growth of this segment of the ammunition market. By geography, The Asia Pacific ammunition market is projected to grow at the highest CAGR. The growth of the ammunition market in this region can be attributed to the rising number of terrorist activities in the Asia Pacific region and increasing spending of emerging economies of the region on defense operations. Countries such as India and China have increased their defense budgets and are procuring advanced ammunition for their armed forces. This, in turn, is leading to the growth of the Asia Pacific ammunition market during the forecast period.
Some of the key players in the Industrial Control For Process Automation Market include Vista Outdoor Inc, Thales, ST Engineering, RUAG (RUAG Ammotec), Rosoboronexport, Rheinmetall AG, Poongsan Corporation, Olin Corporation, Northrop Grumman (Orbital ATK Inc.), Nexter, Nammo as , Hanwha Corporation, General Dynamics Corporation, Denel SOC Ltd and BAE Systems
• Projectiles and Warheads
• Fuzes & Primers
• Other Components
• Large Caliber Ammunition
• Medium Caliber Ammunition
• Small Caliber Ammunition
• Other Calibers
• Civil & Commercial
• Artillery Shells
• Aerial Bombs
• Other Products
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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