Global Small & Medium Caliber Ammunition Market Overview
The key driver impacting the small & medium caliber ammunition market is terrorism and political violence between the major economies globally is estimated to boost small & medium caliber ammunition demand in the forecast period. For instance, Jewish Virtual Library, International Terrorism report, there were on an average 715 terrorist attacks, causing 1,563 deaths, injured 1,623 people, and 745 hostages or kidnap victims per month, across the world in 2017. There were 2.3 deaths and 2.5 people injured per attack, together with perpetrator casualties. These include attacks targeting “violent political parties” that engage in terrorist attacks and electoral politics, which doubled in 2017, and attacks against tourists, which, even though comparatively rare, augmented 27 percent in 2017. Moreover, the rise in commercial hunting and sports activities is also estimated to be a significant factor that adds growth to the market.
According to Value Market Research, the global small & medium caliber ammunition market was valued at around USD 9200 million in 2019 and is estimated to grow at a CAGR of about 4.5% during the forecast period of 2020 to 2026.
The rise in military and defense expenditure is predictable to improve market demand in the forecast period. for instance, as per the stockholm international peace research institute (SIPRI), the total global military expenditure increased to $1917 billion in 2019, the year 2019 signifies a rise of 3.6 percent from 2018. It is the most enormous yearly growth in spending since 2010. the five largest spenders in 2019, which accounted for 62 percent of total global expenditure, were the United States, China, India, Russia, and Saudi Arabia. however, the unreliable economic, legal and political regulations may hamper the global small & medium caliber ammunition industry in the long run. the current industry trends, such as the growing trend of stockpiling and research advancements in small-caliber ammunition, are expected to provide beneficial market opportunities for the market players.
The small & medium caliber ammunition market is vast, with many local and global players. the key leaders follow several strategies to improve their market position, such as mergers, acquisitions, expansions, product innovations, and extending product portfolio, to boost their market share globally. The known players included in the report ARSENAL JSCo, FN Herstal, General Dynamics Corp., Northrop Grumman Corp., BAE Systems, Inc MESKO S.A., Rheinmetall Defense, Nexter KNDS Group, Nammo A, ST Engineering, JSC Rosoboronexport Denel SOC Ltd., S.L., RUAG Group, Poongsan Corp., MAXAMCorp Holding, STV Group a.s., Yugoimport SDPR J.P, The Tula Cartridge Works, The Ulyanovsk Cartridge Works, Rostec, CBC Ammo LLC, Klimovsk Specialized Ammunition Plant.
In this research report, the small & medium caliber ammunition market is segmented by product and region.
Analysis by Product:
By product, the report is categorized into 7.62 x 39 mm, 7.62 x 54 mm, 23 x 115 mm, 30 x 165 mm, 23 x 152 mm, 12.7 x 108 mm, 14.5 x 114 mm, and others. The 7.62 x 39mm caliber segment dominates the product segment in 2019 with more than 10% market share. It is due to its extensive usage in the military and by civil entities, particularly for sports and hunting activities and also for war-fronts & training. Moreover, the rising utilization in the AK series line of rifles due to factors such as high compatibility, affordability, and easy availability, contributing to the vast market demand in the forecast period.
Analysis by Region:
In the regional outlook of the global small & medium caliber ammunition market, the Asia Pacific region dominates with a maximum market share of 65% in 2019. It is due to the wide procurement of bullets and other small ammunition in the armed forces as an outcome of high terrorist activities and geopolitical tension in the region. Moreover, the rising arms import and government involvement for higher arms purchases across India and China contribute to the development of the small & medium caliber ammunition market across the Asia Pacific.
Market Segmentation covered in the Report:
- 7.62 x 39 mm
- 7.62 x 54 mm
- 30 x 165 mm
- 23 x 115 mm
- 23 x 152 mm
- 12.7 x 108 mm
- 14.5 x 114 mm
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.