Ammunition Market Worth $16.07 Billion By 2024: Grand View Research, Inc.
The global ammunition market is expected to reach USD 16.07
billion by 2024, according to a new report by Grand View Research, Inc.
Increasing terrorist activities, coupled with arms race amongst emerging
economies in the recent past is projected to fuel industry growth over the next
eight years. Civil and defense are the two key end-uses in the ammunition
market. The civil end-use is further segmented into law enforcement,
self-defense, and sports & hunting.
Advancements in Russian and U.S. ammunition market
coupled with increasing participation in shooting, hunting and sports across
the world is influencing the growth of the global ammunition market. The
countries such as China, South Korea, India, France, Saudi Arabia, Germany,
Turkey, Israel and South Africa are expected to boost the demand further in the
ammunition industry. However, high costs in research & development and
international regulations are expected to hinder the market growth over the forecast
period.
Additionally, the demilitarization initiatives
adopted across Europe and North America are expected to reduce the demand for
ammunition form the military and law enforcement sectors. However, the impacts
of these factors are expected to reduce over the period of forecast.
Full
Research Report On Global Ammunition Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/ammunition-market
www.grandviewresearch.com/industry-analysis/ammunition-market
Further
key findings from the report suggest:
- The global ammunition market size was estimated
at USD 11.74 billion in 2015 and is expected to grow significantly by 2024
in light of technological advancements and development for the smart
weapons to maintain law and order in developed economies.
- Bullet segment is expected to witness
considerable gains at a CAGR of 3.8% from 2016 to 2024. This growth is
attributed to the measures taken by different governments to introduce
latest technologies for the overall advancement of the industry.
- AAI Corporation has developed an advanced light
machine gun which uses 5.56mm ammo. This ammunition is also referred as
telescoped ammunition and does not contain conventional brass cartridge,
which reduces the weight of the ammunition approximately by 40% as
compared to the traditional ammunition.
- Asia Pacific accounted for 32.9% of the overall
revenue share in 2015 and is projected to witness high growth. Recent
increase in terrorist activities along with the need to maintain internal
peace and order, counties such as India, China and Pakistan are
continuously enhancing their defense mechanism, which in turn is boosting
the ammunition market.
- Ammunition industry is dominated by key
participants including include General Dynamics Corporation, BAE Systems,
Remington Arms Company, Inc., Ruag Ammotec, Poongsan Corporation, Federal
Premium Ammunition and Maxam. Companies are collaborating in order to
remain profitable and retain their position in the global market.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global ammunition market on the
basis of product, end-use and region:
Product
Outlook (Revenue, USD Million, 2013 - 2024)
- Bullet
- Rocket
- Mortar
- Others
End-Use
Outlook (Revenue, USD Million, 2013 - 2024)
- Civil
- Law
Enforcement
- Sports
and Hunting
- Self-defense
- Defense
Regional
Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Russia
- UK
- France
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- Cuba
- MEA
- Saudi
Arabia
- Israel
Access Press Release Of This Research Report
By Grand View Research:
www.grandviewresearch.com/press-release/global-ammunition-market
www.grandviewresearch.com/press-release/global-ammunition-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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