Ammunition Market 2022

The global ammunition market was worth USD 22.35 Billion in 2021. It is expected to grow at a compound annual rate (CAGR of 3.2%) between 2022 and 2030.

NEW YORK CITY, NEW YORK, UNITED STATES, October 13, 2022 /EINPresswire.com/ -- Global ammunition market was worth USD 22.35 Billion in 2021. It is expected to grow at a compound annual rate (CAGR of 3.2%) between 2022 and 2030. The market for ammunition will be driven by a rise in terrorist activities and hostilities around the world.

Driver: Prevalence geopolitical conflicts and political tensions as well as cross-border issues

Market revenue growth is expected to be driven by the global occurrence of political unrest, geopolitical tensions and conflicts within and along borders. The demand for large caliber ammunition in countries like South Korea, Russia and Japan is increasing due to the expansion of military forces and strengthening military personnel. The ammunition market is seeing rapid revenue growth due to technological advancements and increased research & development spending. There is a growing demand for ammunition of small and medium caliber due to local conflicts and political tensions. The Ukraine announced that it would increase its military spending by approximately USD 8.3 billion on the 1st of June 2022 during the Russia-Ukraine conflict. This is nearly a 20% increase over previous years to replace weapons in the defense sector.

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Restraint: Stringent government regulation in different countries

Market revenue growth is likely to be slowed by the imposition of stricter government regulations in most countries. Individuals who use ammunition or other firearms on the market require a license. Gun licenses are difficult and stringent, which has impacted the market's demand for ammunition used for commercial purposes. Only those with strong reasons to keep guns are eligible for a license. This is limiting the market for ammunition worldwide. After the Christchurch shooting massacre, New Zealand's government changed its gun laws on March 15, 2019. They also imposed strict rules on the use of guns. Guns can only be purchased by individuals who have passed a background check and obtained a license. Australian law prohibits civilian ownership of fully-automatic or semi-automatic firearms. This is expected to negatively impact the ammunition market.

Market Growth

Today, the 9mm cartridge is more popular than any other caliber. Its versatility and advancements in technology are the reasons why 9mm calibers have been so popular. Its performance has been improved by the latter. The FBI announced that agents will now carry 9mm pistols in place of.40 S&W in October 2015. This is a tactical advantage because of its lower recoil. This reduces recoil makes it easier to re-acquire targets faster, which allows for more precise and faster follow up shots. It's also affordable and popular with frequent shooters.

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Recent Developments

Nexter group KNDS released 120 SHARD ammunition in March 2021. SHARD, 120mm anti-tank ammunition from the Armor-Piercing fin Stabilized Discarding Sabot (APFSDS) is the new generation.

Northrop Grumman Corporation was awarded a contract in July 2020 by the U.S Army's Project Manage for Maneuver Ammunition Systems.

U.S. Army bought BONUS munitions manufactured by Nexter (BAE Systems) in March 2020. BONUS is an 155-millimeter munition, which are specifically designed to destroy armored targets.

April 2015: Orbital ATK and the U.S. Army signed a contract for tactical and target-practice large and medium caliber ammunition valued at USD 120 millions. The medium-caliber ammunition orders were for 20mm, 25mm to 30mm ammo, which could be used for multiple services, such as air, sea and land weapon platforms.

Key Market Players included in the report:

Orbital Atk
Vista Outdoors
Rosoboronexport
Olin Corporation (Winchester Ammunition)
Ruag Group (Ruag Ammotec AG)
FN Herstal
Nammo
Nexter
BAE Systems
Poongsan Defense
IMI (Israel Military Industries)
General Dynamics
Day & Zimmermann
Rheinmetall Defence
Finmeccanica
Bazalt
Zavod Plastmass
National Presto
China North Industries Corp (NORINCO)
CSGC

Key Market Segments:

Type

Small Caliber Ammunition
Medium Caliber Ammunition
Large Caliber Ammunition

Application

Military
Law Enforcement
Civilian

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