Latest News - Ammunition Market: Small caliber is expected to lead the Product segment during 2024-2028

The Ammunition Market is being driven by Prevalence of geopolitical conflicts, political tensions, and cross-border issues

The Ammunition Market is expected to grow at a CAGR of 3.21% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.9 billion. In the realm of military conflict, asymmetric warfare refers to engagements between forces employing significantly disparate capabilities and strategies. Guerrilla warfare, a form of asymmetric warfare, is waged by militant groups against conventional armies. These groups typically do not maintain large, permanent bases, instead favoring surprise attacks through ambushes, terrorist acts, and night combat. Guerrilla fighters often employ night combat as a strategy, which has led to the increasing demand for advanced night vision technology in military arsenals. The US military has responded to this need by equipping its forces with passive night vision devices, such as AN/PVS-1 Starlight scopes, AN/PVS-2 Starlight scopes, and PNV-57E Tanker goggles, which have been instrumental in various military engagements over the past two decades. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Small caliber
  • Medium caliber
  • Large caliber
• Application
  • Defense
  • Civil and commercial
• Type
  • Rimfire Ammunition
  • Centerfire Ammunition
• Platform
  • Ground
  • Aerial
  • Naval
• Geography
  • North America
    • US
    • Canada
  • APAC
    • China
    • India
    • Japan
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE
  • South America
    • Argentina
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Prevalence of geopolitical conflicts, political tensions, and cross-border issues
• Increase in ammunition procurement by armed forces or border security forces
• Increase in drug trafficking globally

However, the market also witnesses some limitations, which are as follows:

• Proliferation of illicit ammunition manufacturers
• International measures to control ammunition use
• Rise in ammunition smuggling

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Market Scope in Ammunition Market Research Report

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Research Analysis Overview

The Ammunition Industry produces warfare and combat equipment, catering to the needs of law enforcement agencies and armed forces. Defense budgets significantly impact the market, driving demand for advanced ammunition, including newer generation penetrating cartridges and training ammunition, for enhancing the capabilities of armed personnel.

Market Research Overview

The ammunition market encompasses a wide range of products, including advanced 9mm cartridges and polymer-cased ammunition, used in artillery guns and infantry weapons. Military modernization initiatives, driven by geopolitical tensions and military spending, have led to the development of newer generation ammunition with increased penetrating power. Munitions, such as bullets and small-caliber ammunition, are essential for peacekeeping missions, training, and armed forces. Military ordnance, including artillery and firearms, are stockpiled for self-defense and war reserves. Competition among industry leaders like General Dynamics and Rheinmetall, as well as law enforcement agencies, drives innovation in calibers and rifles. The ammunition industry also faces regulatory hurdles and compliance issues due to international measures like the Arms Trade Treaty and civilian disarmament initiatives. Economic inequalities, political instabilities, and territorial conflicts further fuel the demand for ammunition in various sectors. Cross-border terrorism, wars, ceasefire violations, and terrorist activities also contribute to the market's growth. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/