The global ammunition market is anticipated to grow significantly at a CAGR of 3.2% over the forecast period (2024-2031). The global ammunition market is segmented based on type, application, and end-user. Based on the type, the market is further segmented into the small caliber, medium caliber, large caliber, and others. The small caliber ammunition segment is estimated to hold a prominent share in the market, attributing to the vast application of small caliber ammunition such as in shotguns pistols, rifles, revolvers, and assault rifles. Further, the segment is estimated to grow significantly during the forecast period owing to its increasing demand from homeland security forces to restrain the increasing armed conflicts.
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Based on application, the market is divided into civil & commercial applications and defense applications. The ammunitions have a major application in the defense industry and contributed a significant share in the market. The growth is accredited to the increasing geopolitical tension, and disputes created a massive demand for ammunition in the defense industry. The military organizations across the globe are modernizing their weaponry, which in turn, is driving the ammunition market. Moreover, the increasing defense spending around the globe has a significant impact on the segmental growth of the market. Whereas, based on the end-user, the market is segmented as civilian and military.
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Market Coverage
- Segment Covered- By Product Type, Application, and End-User
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- BAE Systems Plc, General Dynamics Corp., Nammo A/S, Nexter Group, Northrop Grumman Corp., Remington Arms Co., Rheinmetall AG, Sierra Bullets, and Vista Outdoor Inc. among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Ammunition Market – Segmentation
By Product Type
- Small Caliber
- Medium Caliber
- Large Caliber
By Application
- Non-Lethal
- Lethal
By End-User
- Civilian
- Military
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