According to a new market intelligence report titled "Global Small Caliber Ammunition Market, Analysis and Forecast, 2018-2023", the growing demand for ammunition in emerging countries (such as Asia-Pacific, Middle East, and Africa) is likely to increase the opportunities for small caliber ammunition players across different sectors, including civilian, law enforcement, hunting & sports, and military. The rapid increase in civilian conflicts and terrorist clutter across the world has further increased the business prospects for the ammunition industry. The global small caliber ammunition market has gained importance in military applications for use against terrorist groups and enemy forces. Furthermore, companies are introducing latest technology weapons for the small caliber ammunition market that is gaining importance among defense end users due to the advantages of enhanced lethality. Many defense forces across the world have engaged in contracts with various leading manufacturers for the production of the specific range of small caliber ammunition.
According to the analysis, the global small caliber ammunition market was estimated to be approximately $7.37 billion in 2018.
The global small caliber ammunition market is categorized on the basis of gun type that includes handguns, rifles, shotguns, and others. The handguns gun type market acquired the largest share in 2018. On the other hand, the rifles gun type market is expected to grow at the highest CAGR of 3.44% during the forecast period 2018-2023. In addition, the small caliber ammunition market is classified into various caliber types such as 5.56mm, 9mm, 7.62mm, 12 Gauge, .22LR, .223 Rem, .308 Caliber, and others.
According to Surabhi Gupta, Research Associate, “North America is one of the most prominent regions for the growth of the global small caliber ammunition market. In 2018, North America dominated the global small caliber ammunition market with the U.S. acquiring the maximum market share, globally. However, the geographical analysis of this market unveils an immense potential for growth in the Asia-Pacific region. South Korea acquired the largest market share, whereas China is expected to witness the highest growth rate in this region during the forecast period 2018-2023. Similarly, the European market is also likely to witness numerous growth opportunities during the forecast period 2018-2023.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented by gun type, which is further segmented into caliber types. The gun type segmentation includes handguns, rifles, shotguns, and others. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 countries.
This report is a meticulous compilation of research on more than 50 players in the small caliber ammunition ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report covers the profile analysis of around 17 companies which includes Northrop Grumman, Nammo AS, BAE Systems, General Dynamics Ordnance and Tactical Systems, Singapore Technologies Engineering Ltd, Poongsan Corporation, Denel SOC Ltd (Denel PMP), and, Global Ordnance, among others.
Key questions answered in the report:
Source: ASDReports - Market Research
Date: Dec 20, 2018