Ammunition Market to Generate $31.7 Billion, by 2031 with 3.9% CAGR : States Allied Market Research
Ammunition Industry Trend
PORTLAND, OREGAON, UNITED STATES, January 12, 2024 /EINPresswire.com/ -- The report states that the global ammunition market size is anticipated to generate $31.7 billion by 2031. The industry was valued at $22 billion in 2021 and is expected to showcase a notable CAGR of 3.9% during the forecast period of 2022 to 2031.
饾悈饾悮饾悳饾惌饾惃饾惈饾惉 饾悽饾惂饾悷饾惀饾惍饾悶饾惂饾悳饾悽饾惂饾悹 饾惌饾悺饾悶 饾悹饾惈饾惃饾惏饾惌饾悺 饾惃饾悷 饾惌饾悺饾悶 饾惁饾悮饾惈饾悿饾悶饾惌:
The global ammunition market is gaining traction owing to the increase in government spending on defense operations due to changes in military strategies, technological advancements, and geopolitical tensions, and robust demand for ammunition and firearms for several purposes, involving, military and law enforcement operations, sports shooting, hunting, and self-defense. However, the less availability of raw materials and strict government norms regarding license requirement and restrictions on the types of ammunition that can be sold. Nevertheless, technological advancements in smart ammunition enable remote tracking and control of ammunition by declining the threat of unauthorized use or unintended discharge which will anticipated to offer numerous growth opportunities to the market in the future.
饾悜饾悶饾惇饾惍饾悶饾惉饾惌 饾悞饾悮饾惁饾惄饾惀饾悶 饾悘饾悮饾悹饾悶饾惉 : https://www.alliedmarketresearch.com/request-sample/10025
饾悡饾悺饾悶 饾悵饾悶饾悷饾悶饾惂饾惉饾悶 饾惉饾悶饾悹饾惁饾悶饾惂饾惌 饾惌饾惃 饾悳饾惃饾惂饾惌饾悽饾惂饾惍饾悶 饾悽饾惌饾惉 饾惉饾惍饾惄饾惈饾悶饾惁饾悮饾悳饾惒 饾悰饾惒 饾煇饾煄饾煈饾煆
In terms of application, the defense segment gained the largest market share in 2021, contributing to more than two-thirds of the total market share and is anticipated to maintain its dominant share during the forecast period. The expansion of this segment is propelled by the increasing threat created by terrorist activities. Additionally, it is fueled by global defense forces' modernization initiatives aimed at enhancing armed forces capabilities to manage border disputes with neighboring nations and conduct effective counter-terrorism operations. The civil and commercial segment, however, would showcase the fastest growth with 4.4% CAGR by 2031, owing to the use of ammunition in the commercial domain like sports (Shooting) and in private corporations for protection.
饾悡饾悺饾悶 饾悳饾悶饾惂饾惌饾惈饾悶饾悷饾悽饾惈饾悶 饾惉饾悶饾悹饾惁饾悶饾惂饾惌 饾惌饾惃 饾惈饾惍饾惀饾悶 饾惌饾悺饾悶 饾惈饾惃饾惃饾惉饾惌 饾悵饾惍饾惈饾悽饾惂饾悹 饾惌饾悺饾悶 饾悷饾惃饾惈饾悶饾悳饾悮饾惉饾惌 饾惄饾悶饾惈饾悽饾惃饾悵
By product type, the centrefire segment held the largest market share of nearly two-thirds of the global market share in 2021 and is expected to grab the lion鈥檚 share throughout the forecast timeframe. Centerfire ammunition finds primary usage in shotguns, handguns, and rifles. These bullets are both reloadable and reusable, available in larger and more potent cartridges in contrast to rimfire bullets. The rimfire segment, however, would showcase the fastest CAGR of 4.2% by 2031. Rimfire ammunition produces low sound, has low manufacturing cost, and lighter in comparison with centrefire ammunition.
饾悘饾惈饾惃饾悳饾惍饾惈饾悶 饾悅饾惃饾惁饾惄饾惀饾悶饾惌饾悶 饾悜饾悶饾惉饾悶饾悮饾惈饾悳饾悺 饾悜饾悶饾惄饾惃饾惈饾惌 饾悕饾惃饾惏 : https://www.alliedmarketresearch.com/ammunition-market/purchase-options
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In terms of caliber size, the small segment accounted for the major share of nearly two-fifths of the total market revenue in 2021 and is anticipated to maintain its dominance in terms of revenue by 2031. The same segment is expected to cite the fastest CAGR of 4.4% from 2022 to 2031. Military and homeland security personnel globally utilize small caliber ammunition in shotgun pistols, rifles, assault rifles, and revolvers due to its versatility. This ammunition is favored for its lower lethality in managing armed conflicts.
饾悕饾惃饾惈饾惌饾悺 饾悁饾惁饾悶饾惈饾悽饾悳饾悮 饾惌饾惃 饾惀饾悶饾悮饾悵 饾惌饾悺饾悶 饾惌饾惈饾悮饾悽饾惀 饾悰饾惒 饾煇饾煄饾煈饾煆
The regional analysis in the report indicates that the market across North America region was largest in 2021, contributing to nearly two-fifths of the global market revenue and is anticipated to grab the largest market share by 2031. The North American region serves as the epicenter for highly developed and well-established security frameworks across both commercial and public sectors. Major countries in North America, such as the USA and Canada, spend substantial expenditures towards enhancing internal security across their borders. The Asia-Pacific region, however, is anticipated to witness a noteworthy CAGR of 5.1% by 2031. The increasing military spending among major countries in the region, aimed at enhancing their armed forces, is anticipated to drive up the demand for the ammunition market in the Asia-Pacific region.
饾悎饾惂饾惇饾惍饾悽饾惈饾悶 饾悂饾悶饾悷饾惃饾惈饾悶 饾悂饾惍饾惒饾悽饾惂饾悹 : https://www.alliedmarketresearch.com/purchase-enquiry/10025
饾悑饾悶饾悮饾悵饾悽饾惂饾悹 饾悓饾悮饾惈饾悿饾悶饾惌 饾悘饾惀饾悮饾惒饾悶饾惈饾惉:
路 Rheinmetall and Hornady Manufacturing Company Inc.
路 Nexter
路 Nammo AS
路 Olin Corporation
路 Northrop Grumman
路 Vista Outdoor Inc.
路 RUAG
路 BAE Systems
路 General Dynamics Corporation
David Correa
Allied Market Research
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