The Ammunition Global Market Report 2023 by The Business Research Company, provides ammunition market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Ammunition Global Market Report 2023, the global ammunition market size grew from $25.6 billion in 2022 to $27.48 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ammunition market size is expected to grow to $34.94 billion in 2027 at a CAGR of 6.2%.
The growing personal safety concerns and increasing shooting ranges are propelling the growth of the ammunition market. The increasing terrorist activities, mass shootings, increasing gangster activities, and increasing awareness for self-defense are the main reasons for the growing personal safety concerns while the rising awareness about the safe use of guns is the main reason for increasing shooting ranges. These growing personal safety concerns and increasing shooting ranges have led to the increased procurement of small caliber ammo for personnel safety.
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The ammunition market is segmented:
1) By Product: Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars
2) By Caliber: Small, Medium, Large, Other Calibers
3) By Guidance Mechanism: Non-guided, Guided
4) By Application: Defense, Less-lethal
The R&D activity to develop advanced ammunition is a key trend in the ammunition market. Key players and related stakeholders are increasingly focusing on research and development activities to advance the ammunition. The rising incidences of armed international conflicts have directed several countries to enhance their military strengths through the procurement of advanced ammunition and equipment. As a result of this, the defense expenditure for ammunition procurement and R&D activities has increased significantly across the globe over the past few years. For instance, in April 2021, Lonestar Future Weapons, a US-based advanced technology company focused on the manufacture of next-generation defense solutions formed a strategic alliance with a US-based manufacturer of composite-cased ammunition True Velocity to create synergy by utilizing the expertise of both companies in R&D, precision manufacturing, quality control, and production efficiency. The alliance will focus on the research and development of next-generation weapons and ammunition solutions.
Top Major Players
Northrop Grumman Corporation,
General Dynamics Corporation,
CBC Global Ammunition,
Olin Corporation,
Ruag Ammotec
The ammunition market report table of contents includes:
- Executive Summary
- Ammunition Market Characteristics
- Ammunition Market Trends And Strategies
- Ammunition Forwarding Market – Macro Economic Scenario
- Ammunition Market Size And Growth
- Ammunition Market Segmentation
- Ammunition Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Ammunition Market
- Ammunition Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Ammunition Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Ammunition Market, Segmentation By Caliber, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Ammunition Market, Segmentation By Guidance Mechanism, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 47: Northrop Grumman Corporation Financial Performance
Table 48: General Dynamics Corporation Financial Performance
Table 49: CBC Global Ammunition Financial Performance
Table 50: Olin Corporation Financial Performance
Table 51: Ruag Ammotec Financial Performance
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