Ammunition Market in defense applications is set to exhibit a lucrative growth to 2025 owing to conventional utilization and demands for new innovations. Need for non-lethal bullets will offer viable growth landscape owing to their application in riot control. Civil applications include weapons designed for self-defense, hunting & sports and law enforcement.
On the basis of product, the industry can be segregated into small, medium, large, artillery and mortar. Growing application of small caliber ammo for law enforcement (civil) and defense purposes is expected to drive the industry growth over the forecast time period. Mortar market is projected to grow at around 3% CAGR due to wide applications in lower firing pressure weapons. Ammunition market Defense sector is expected to retain its dominance throughout the forecast timeline.
The growing popularity of shooting as an activity in major sports events will enhance the ammunition market share from 2016 to 2025. Positive indicators from various organizations and associations to promote and support shooting sports are the key factors fueling product demand. Rising interest towards hunting & shooting as a recreational and leisure activity contributes to overall consumption, which in turn drive industry demand over the forecast period. The industry has witnessed various training programs that promote and support hunting and shooting without causing any harm to the consumer.
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Considering the regional landscape, North America ammunition market is slated to exhibit noticeable growth rate over the coming eight years. U.S. will cover more than 90% of the North America regional share by the end of 2025. The growth can be attributed to its increasing requirement for shooting sports and the defense sector.
Increasing competition among several countries for arms and ammunitions in order to secure their national and international interests will led to steady growth for the ammunition industry over the coming years. As per Stockholm International Peace Research Institute (SPIRI) report in 2015 Russia, China, Saudi Arabia and the U.S. are the major investing countries in the weaponry, arms and ammunition market. Furthermore, technological developments to enhance weapon impact and range will draw in heavy investments.
Asia Pacific ammunition industry size occupied 28% of the global market share in 2015 and will grow significantly over the coming years. The countries across the APAC are investing more money into defense activities to deal with the internal and external conflicts, which will fuel the ammunition market size noticeably. Moreover, rising entertainment and sports activities will also influence the Asia Pacific ammunition market trends. China, India, and Japan will be the major revenue contributors towards the regional growth.
The rising necessity to safeguard nation’s security and enhance the defense capability countering the terrorist attacks will boost the global ammunition industry. The weaponry or arms & ammunitions hold a major part of the nation’s annual expenditure. Moreover, the rising geopolitical issues have also imposed a threat to the overall national and international security, thus providing lucrative growth avenues for the ammunition industry. As per Global Market Insights, Inc. “Ammunition market size worth USD 9 billion in 2015, is forecast to grow at an annual rate of 2.8% over the period of 2016-2025.” The growing trend of recreational activities such as hunting and shooting will also generate decent revenue for the ammunition industry.
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