Ammunition Market to increase by USD 5.17 billion during 2022-2027, Prevalence of geopolitical conflicts, political tensions, and cross-border issues to drive the growth – Technavio
NEW YORK, Oct. 25, 2023 /PRNewswire/ — The ammunition market size is expected to grow by USD 5.17 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.29% during the forecast period. The market is segmented by Product (Small caliber, Medium caliber, and Large caliber ), Application (Defense, Civil, and commercial ), and Geography (North America, APAC, Europe, Middle East and Africa, and South America). The prevalence of geopolitical conflicts, political tensions, and cross-border issues is driving market growth. Military budgets have increased due to conflicts in the Middle East and Asia. Technological advances and increasing R&D spending are also fueling market growth. These factors are expected to increase the demand for ammunition, which will market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample
- The report recognizes the following as some of the key players in the ammunition market: Adani Group, AMMO Inc., BAE Systems Plc, BERETTA HOLDING SA, CBC Global Ammunition, Denel SOC Ltd., Elbit Systems Ltd., Fabbrica dArmi Pietro Beretta S.p.A., General Dynamics Corp., Global Ordnance LLC, Hanwha Corp., Herstal SA, Industrias Tecnos S.A. de C.V., Lockheed Martin Corp., Mesko SA, Nammo AS, Nexter KNDS Group, Northrop Grumman Systems Corp., Olin Corp., Polska Grupa Zbrojeniowa SA, Poonfsan Corp., Rheinmetall AG, Singapore Technologies Engineering Ltd., Thales Group, and Vista Outdoor Inc.
- Ammunition Market is fragmented in nature.
- Market to observe 3.12% YOY growth in 2023.
- The reduction of weight of ammunition is an emerging ammunition market trend.
- The weight of ammunition has decreased significantly owing to new material developments and manufacturing methods.
- Bullet casings are made of lightweight metals and composite materials, and the weight of propellants has been optimized.
- In the aviation sector, lighter aircraft lead to longer flight times and successful missions.
- Moreover, ammunition storage and transportation require fewer resources, which allows for more flexible and quick military operations.
- The rise in ammunition smuggling challenges the ammunition market.
- The rise in ammunition smuggling is fueled by the high demand for firearms and related goods on the black market.
- Smugglers are employing strategies such as concealing ammunition in vehicles, shipping containers, and items such as clothing and toys.
- This makes it difficult for authorities to find smuggled ammunition.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
By product, the small caliber segment will account for a significant share of market growth during the forecast period. Small caliber ammunition refers to ammunition with a caliber of less than 20 mm. The growth of this segment is attributed to factors such as a rise in the demand for weapons for defense and recreational purposes. Get a glance at the market contribution of the segments, Request a Sample
The defense logistics market is estimated to grow at a CAGR of 2.05% between 2022 and 2027. The size of the market is forecast to increase by USD 3,998.66 million.
The nato ammunition market size is expected to increase by USD 208.24 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.13%.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Market Segmentation by Geography
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ammunition-market-to-increase-by-usd-5-17-billion-during-2022-2027–prevalence-of-geopolitical-conflicts-political-tensions-and-cross-border-issues-to-drive-the-growth—technavio-301967219.html