Global Ammunition Market Value To Touch USD 17 BN By 2026
Posted On January 16, 2020
As per the report on the Global Ammunition Market published by Value Market Research, the market was valued close to USD 13.4 BN in 2019 and is expected to reach USD 17 BN by 2026 with a CAGR of 3.50% within the forecasted period between 2020 to 2026. The rise in demand from the defense ammunitions owing to an increase in terrorist attacks and the expenditure on military modernization plans and safety is responsible for driving the growth of the market. Also, the rise in geopolitical differences and clashes among neighboring countries worldwide are expected to increase the penetration in the market. Additionally, the ongoing activities for building up military capabilities between upcoming economies are alleged to expand the market.
Ammunition is the term that is used to refer to material fired, scattered or detonated from expandable or component part of the weapon. It is generally utilized in bombs, landmines, grenades, small arms and other such types of guns. Ammunition includes a projectile (leaves the weapon), primer (ignites the propellant) and a propellant or explosive (push the projectile towards the target). Ammunition comes in different sizes, type and materials whereas sometimes it is designed especially for a specific armament.
The report “Global Ammunition Market Report By Product (Bullet, Mortar, Rockets And Others) End-Use (Civil And Defense) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026 covers the market growth, trends and forecasts for the period within 2020 to 2026” along with an outlook on the competitive landscape of the global ammunition market. The detailed account of market drivers and restraints are an insightful read to judge the market propects in the near future.By product, bullet, mortar and rockets are the segments of the global ammunition market.
By end-use, civil and defense are the segments of the global ammunition market. Globally demand from the defense segment is the highest due to high terrorist activities proliferating in the regions.
The report comprises of the geographical segmentation which focuses demand for ammunition in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia – Pacific region is the biggest market for the prospective growth of ammunitions. The report also focuses on the demand for individual application segments in all the regions.
The Report Segments Global Ammunition Market -
By End Use
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
BAE Systems Plc, Federal Premium Ammunition, General Dynamics Corporation, Global Ordnance, Hornady Manufacturing Company Inc., Magtech Ammunition Company, Inc., Maxam, Nexter Munitions SA, Poongsan Corporation, Remington Arms Company, LLC. and Ruag Ammotec among others.
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