The global ammunition market is predicted to rise at a 3.70% CAGR to grow from a value of US$11.48 bn in 2014 to US$14.87 bn by 2021. The global competition to manufacture enhanced weapons and ammunition to ensure the security of a country has driven the global ammunition market in the recent past. The introduction of technologically advanced ammunition and supplies is expected to help expand the global ammunition market during the forecast period.
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Over the past few years, there has been stiff competition amongst countries to secure citizens’ lives and the country’s economy. Growing concerns about geopolitical tensions in various parts of the world and the rising threat of terrorism are expected to boost the global ammunition market. The increasing eagerness of the global population to take part in various shooting-related sports is also predicted to boost the global ammunition market. The escalating arms race, particularly in Asia Pacific, is also influencing the market significantly. Some of the factors that restrict the growth of the global ammunition market are increasing R&D expenses, increasing number of laws aimed at controlling the proliferation of weapons, and adoption of demilitarization initiatives globally.
Full Metal Jacketed Ammunition Sector to be the Dominant Contributor
The global ammunition market is segmented on the basis of type, region, caliber, and application. By type, the global ammunition market is classified into full metal jacketed ammunition, tracer ammunition, armor piercing ammunition, incendiary, and others. In 2014, in terms of revenue, the global ammunition market was dominated by the full metal jacketed ammunition sector. This sector accounted for almost 50% of the market in 2014. Increasing usage of advanced technology by terrorist organizations and hostile nations is expected to propel the full metal jacketed ammunition sector by 2021.
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By geography, the global ammunition market is divided into Europe, North America, Asia Pacific, and Rest of the World. The Europe ammunition market led the global ammunition market in 2014. The Europe ammunition market accounted for a 35% market share in 2014. The Asia Pacific region is predicted to grow rapidly till 2021, at a 4.0% CAGR. Leading players in the market are introducing enhanced ammunition by focusing on the demand from military organizations and government organizations. Some of the leading players in the global ammunition market are General Dynamics Corporation, Fiocchi Munizioni S.p.A., Prvi Partizan A.D., Nexter Group, Rheinmetall Defence, Companhia Brasileira de Cartuchos, Hornady Manufacturing Company, Inc., Orbital ATK, Inc., RUAG Holding A.G., and Nammo A.S.
Small Caliber Sector to Lead the Ammunition Market
Based on caliber, the global ammunition market is classified into small caliber ammunition, mortar ammunition, medium caliber ammunition, shotgun shells, and artillery ammunition. In 2014, the small caliber ammunition sector dominated the global ammunition market, accounting for the highest market share. The demand for small caliber ammunition is expected to increase globally due to the presence of a wide variety of applications in law enforcement, military, and the commercial sector. By application, the global ammunition market was dominated by the military sector in 2014. The commercial sector and the law enforcement sector are predicted to develop rapidly during the forecast period.
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