Ammunition Market to Achieve USD 30.02 Bn by 2030 Fueled by Moving from small caliber ammo to precision-guided munitions

Ammunition-Market

The Ammunition Market is driven by military needs, defense budgets, technological advancements, and civilian demand for firearms.

Innovation in Ammunition Market, driven by military and civilian demand, is reshaping the global market and driving its steady growth.”

— According to SNS Insider Research

AUSTIN, TEXAS, UNITED STATES, January 19, 2024 /EINPresswire.com/ — Ammunition Market Scope & Overview:

The global 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 is a dynamic sector driven by military modernization programs, law enforcement needs, and civilian demand for firearms. The market encompasses a wide range of ammunition types, including small caliber, medium caliber, large caliber, and artillery ammunition. Key factors influencing the Ammunition Market include geopolitical tensions, increasing defense budgets in emerging economies, and technological advancements leading to the development of precision-guided munitions. Additionally, the growing popularity of shooting sports and recreational shooting activities among civilians contributes to the demand for ammunition. In order to reveal the main factors that have driven the growth of the Ammunition Market, we will look into the comprehensive data from SNS Insider. Understand how these remarkable developments are being driven by innovation in smaller caliber ammunition, the precision guided munitions revolution.

One of the unique aspects of the Ammunition Market is its resilience to economic downturns. While defense budgets may fluctuate based on economic conditions, the demand for ammunition often remains steady due to ongoing military operations, training exercises, and law enforcement activities. Moreover, the development of advanced ammunition technologies, such as smart munitions and armor-piercing rounds, continues to drive innovation in the market. As a result, the Ammunition Market is expected to witness steady growth in the coming years, with opportunities for manufacturers to diversify their product offerings and expand into new regions.

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Market Sizing Paragraph:

The SNS Insider report indicates that the Ammunition Market was valued at USD 21.89 billion in 2022, and it is projected to achieve a market size of USD 30.02 billion by 2030, with a compound annual growth rate (CAGR) of 3.6% expected over the forecast period from 2023 to 2030.

Major Key Players Included are:

• BAE Systems

• Rheinmetall

• General Dynamics

• RUAG, and other players.

Market Report Scope

The increasing defense spending in response to foreign hostility is the main factor driving demand. Ammunition producers are further motivated by the advancement of lightweight bullets with polymer casings. By 2020, center fire ammunition is expected to be the industry standard and account for almost two-thirds of overall sales due to its explosive demand.

Several new initiatives for the development of weapons and ammunition are currently underway in an effort to create ammunition that is both lighter and still deadly with a longer range. The rapid advancement in technology is supporting these efforts. The main markets for modern weapons and accompanying ammunition are Europe and the Asia-Pacific region, which are either upgrading their armed forces to bolster them or replacing aging equipment.

Growth Factors

Specialized ammunition is crucial in conducting precise strikes and counter terrorism operations as part of the ongoing worldwide war against terrorism and insurgency. The demand for specialized weapons is continuously increasing, leading to a growth in the Ammunition Market. This growth is largely influenced by the increase in defense spending across several nations as governments allocate funds to boost military readiness and deal with evolving security issues. Technological advancements in areas such as guidance systems, materials, and propellants are contributing to the progress of ammunition performance and capabilities. This, in turn, attracts the attention of law enforcement and defense departments.

Segmentation Analysis

By Application:

It is essential to have proper instructions and experience when dealing with ammunition used for training purposes, which often accounts for a significant portion of ammunition sales. Ammunition used during military or law enforcement activities is classified as both combat and defense ammunition.

On the other hand, ammunition made specifically for hunting different game species is called hunting ammo. Lastly, there is ammunition designed for athletics and competition shooting, which is intended for competitive and sports shooting.

By Caliber:

9mm Parabellum is a popular caliber for handguns and submachine guns. NATO utilizes rifle calibers 5.56mm and 7.62mm in both military and law enforcement settings.

The .50 BMG, also known as the Browning Machine Gun, is a heavy machine gun caliber designed for sniper and long-range anti-material uses. Artillery calibers encompass a range of sizes for anti-aircraft guns, cannons, and artillery.

Market Segmentation & Sub-segmentation included are:

By Application

• Defense

• Military

• Homeland Security

• Civil & Commercial

• Sporting

• Hunting

• Self-defense

• Others

By Caliber

• Small

• Medium

• Large

By Product

• Bullets

• Aerial Bombs

• Grenades

• Artillery Shells

• Mortars

By Component

• Fuzes & Primers

• Propellants

• Bases

• Projectiles and Warheads

• Others

By Guidance Mechanism

• Non-guided

• Guided

By Lethality

• Lethal

• Less-lethal

Key Regional Development

North America accounted for more than 13.4% of the revenue share in 2022, making it the second-largest market. The increasing threat of terrorism and lenient gun regulations are expected to increase the demand for bullets. Furthermore, the growth of the hunting and sporting activities sector is also expected to contribute to the market’s growth. The United States’ high demand for bullets is anticipated to drive significant expansion of the bullet market in North America. The region’s defense spending expansion is significantly influencing the bullet market. The U.S. Department of Defense’s long-term competitive strategy to develop new military concepts and technology is expected to support the market’s expansion.

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As of 2022, Europe’s sales share in the Ammunition Market remained strong at 70.8%. This is due to government regulations that restrict the possession, supply, production, and trafficking of firearms within the European single market. However, the management of Syrian and Middle Eastern refugees has posed significant challenges for the European defense apparatus. Additionally, the threat of terrorism has affected Europe, leading to an anticipated growth in the Ammunition Market during the projected period.

Key Takeaway

• The small caliber market share reached 51% in 2021, indicating its growing popularity. The defense sector accounted for 76%of the total sales worldwide, making it the largest end user.

• The center fire section contributed 5%of the overall revenue share in 2021, and North America was the leading revenue-generating region with 31% share.

• The bullets category received the most significant revenue share by product kind in 2021, but the aerial bombs market is projected to grow consistently at a CAGR from 2022 to 2030.

Among components, fuse and primers had the largest market share in 2021. However, the gun powder category is expected to have the greatest CAGR over the projection period. In terms of end-users, the military and homeland security sector had the largest market share in 2021, while the commercial and civil segments are expected to expand significantly.

Recent Developments

In July 2021, A contract (W31P4Q-19-C-0101) was awarded to Lockheed Martin Missile and Fire Control to produce High Mobility Artillery Rocket Systems (HIMARS) launchers and support equipment (document numbers P00032 and M142). The modification is worth USD 160 million.

In July 2020, The Nexter KNDS Group has been awarded a contract by the French Army to provide 70,000 modular artillery loads for use on their 155mm CAESAR artillery system. These modules will be produced exclusively at the Eurenco Bergerac facility and delivered to the French Army between 2021 and 2022.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Ammunition Market, By Product

9. Ammunition Market, By Application

10. Ammunition Market , By Caliber

11. Ammunition Market, By Component

12. Ammunition Market, By Guidance Mechanism

13. Ammunition Market, By Lethality

14. Regional Analysis

15. Company Profiles

16. Competitive Landscape

17. Conclusion

About Us:

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Akash Anand
SNS Insider Pvt. Ltd
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Originally published at https://www.einpresswire.com/article/682407345/ammunition-market-to-achieve-usd-30-02-bn-by-2030-fueled-by-moving-from-small-caliber-ammo-to-precision-guided-munitions

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