Feb 17, 2020
Ammunition Market to Ride Wave of Profitability, with Increased Demand for Small Caliber Ammunition, Concludes Fact.MR
by Team Fact.MR
On the back of increased participation in sports shooting, the global ammunition market is expected to grow 1.4x between 2019 and 2029. Ammunition manufacturers are investing in product development such as light weight bullets using polymer casings which is driving mass-adoption among government agencies and consumers alike. Rising global tensions pertaining to terrorism will garner increased traction from developing economies that wish to upgrade their defense capabilities to combat geopolitical insurgencies. However, illegal sales of ammunition will continue to pose restraints in global ammunition trade.
Key Takeaways of Ammunition Market Study
- Centerfire ammunition will account for highest demand owing to its ability to withstand high pressures, facilitate re-use of casings, and enhanced safety features.
- Small Caliber ammunition will grow 1.5x during the forecast period as a result of high adoption from homeland security bodies and sport shooting consumers worldwide.
- Military and government bodies will drive a majority of growth in ammunition market as developing countries look to ensure national security and developed countries look to upgrade existing ammunition.
- North America holds largest market share since early adopters in this region maintain international dominance in defense systems.
- Rockets and missiles segment are expected to generate significant demand as North American economies such as the US take on upgradation of its nuclear capacity.
“The alignment of consumer groups such as National Rifle Association with ammunition manufacturers will continue to support demand generation in the US. Globally, ammunition sales are centered on statutory government bodies. Industrial security is also expected to drive growth of ammunition sales between 2019 and 2029.” -Says Fact.MR Analyst
Small Caliber- Major Driver for Ammunition Sales
Small caliber ammunition presents lucrative growth opportunities for ammunition manufacturers. The spike in consumer trends such as sports shooting and proactive purchase of ammunition to safeguard residential properties is driving the adoption of small caliber segment during the forecast period. Online sales channels are also gaining traction from millennial consumers that shop online for everything. Manufacturers are invested in developing innovative products to aid consumer traction. Plastic guns, light-weight polymer casings, and re-usable casings are a few instances where manufacturers can leverage innovation to attract, engage, and delight commercial consumers. Rising activism from anti-ammunition groups is expected to pose mild restraints for market players during the forecast period.
More Valuable Insights on Ammunition Market:
Fact.MR, in its new offering, presents an unbiased analysis of the ammunitions market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the ammunition market on the basis of caliber (Small Caliber, Medium Caliber, Large Caliber, and (Rockets, Missiles, and other)), type (rim fire and centerfire), application (Civil & Commercial (Sports, Hunting, and Self-Defense), Defense (Military and Law Enforcement)), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial research team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed industrial sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.