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Ammunition Market Size to Reach USD 29.96 Billion by 2027; Introduction to Self-guided Smart Bullets will Augment Growth

August 21, 2020 | Aerospace & Defense

The global ammunition market size is projected to reach USD 29.96 billion by 2027. It is anticipated to gain traction from the emergence of self-guided smart bullets. These are capable of changing their paths on their own. They also aid in overcoming harsh climatic conditions, as well as enhancing accuracy of the sniper. Fortune Business Insights™ published this information in a new report, titled, “Ammunition Market Size, Share & COVID-19 Impact Analysis; by Application (Military & Homeland Security, and Civil & Commercial) By Caliber (Small, Medium, and Large) By Product (Bullets, Aerial Bombs, Grenades, Mortars, Artillery Shells, and Others), By Component (Fuses& Primers, Gun Powder, Projectile, Cases, and Others) By Guidance (Guided, and Non-Guided) By Lethality (Lethal, and Less-Lethal) and Regional Forecast, 2020-2027.” The report further states that the market stood at USD 25.46 billion in 2019. However, it is set to exhibit a CAGR of 1.71% during the forecast period from 2020 – 2027.


Elbit Systems Wins Contract Worth $144 Million from IMOD


In January 2020, Elbit Systems, an international defense electronics company headquartered in Israel, received a contract worth USD 144 million from the Israeli Ministry of Defense (IMOD). This five-year contract would enable the company to provide its in-house small caliber ammunition to the Israeli Defense Forces (IDF). It would begin in the year 2021. As per the company officials, the Defense Ministry is persistently striving to fulfil numerous multi-year agreements with the support of IDF amidst the complex budgetary reality. It is helping in the protection of quality and crucial production lines of the defense sectors.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/ammunition-market-103481


Rising Cases of Geopolitical Tension to Accelerate Growth


The countries located in Asia Pacific and the Middle East are experiencing high cross border conflicts, political unrest, and rising cases of geopolitical tensions. It is further increasing the need to strengthen the military forces in these regions. The surging adoption of small caliber ammunition, coupled with the expansion of the military forces worldwide would contribute to the ammunition market growth during the forthcoming years. Numerous manufacturers are also spending hefty amounts of money to conduct research and development activities for creating state-of-the-art ammunition. It would also give rise to more sales. However, in various countries, backed by the outbreak of the Covid-19 pandemic, the sales of ammunition are banned by the regulatory bodies. It may hinder the market growth.


Key Manufacturers Engage in Unique Product Development to Compete in Market


The market houses many companies that are adopting the strategies of novel product launches and acquisitions to strengthen their positions. They are also striving to unveil unique munition technologies to increase sales. Persistent research and development activities, as well as a diversified product portfolio are aiding them in competing in the market.  


Fortune Business Insights™ lists out the names of all the companies operating in this market. They are as follows:



  • BAE Systems (The U.K)

  • CBC Global Ammunition (Brazil)

  • Denel SOC Ltd (South Africa)

  • General Dynamics Corporation (The U.S.)

  • Nammo AS (Norway)

  • Nexter group KNDS (France)

  • Northrop Grumman Corporation (The U.S.)

  • Olin Corporation (The U.S.)

  • Poongsan Corporation (South Korea)

  • RAUG Group (Switzerland)

  • Thales Group (France)

  • Vista Outdoor, Inc. (The U.S.)


A Notable Industry Development-



  • January 2019: BAE Systems’ Land UK, a manufacturer, seller, and designer of combat vehicles and munitions, bagged a new contract worth USD 20.48 million from the UK Ministry of Defence. As per the contract, BAE would deliver its 155mm Illuminating and Smoke artillery rounds to the latter for the British Army.


Further Report Findings-



  • North America procured USD 13.76 billion revenue in 2019 backed by the rising usage of advanced munitions by the military forces in the U.S. Also, the increasing fear of insecurity amongst the masses owing to the Covid-19 pandemic in this region is surging the sales of guns.

  • Asia Pacific is likely to exhibit considerable growth fueled by the expansion of military forces in countries, such as South Korea, India, and China. 

  • In terms of application analysis, the military & homeland security segment generated 65% ammunition market share in 2019. This growth is attributable to the higher demand for guns and munitions from the military forces worldwide backed by the rising cross border conflicts, political unrest, and upgradation of military equipment.


The global market can be segmented in the following way:


























































SEGMENTATION



DETAILS



Study Period



2016-2027



Base Year



2019



Forecast Period



2020-2027



Historical Period



2016-2018



Unit



Value (USD Billion)



By Application




  • Military & Homeland Security

  • Civil & Commercial



By Caliber




  • Small

  • Medium

  • Large



By Products




  • Bullets

  • Aerial Bombs

  • Artillery Shells

  • Grenades

  • Mortars

  • Others



By Components




  • Fuzes & Primers

  • Gun Powder

  • Cases

  • Projectiles and warheads

  • Others



By Guidance




  • Guided

  • Non-Guided



By Lethality




  • Less-Lethal

  • Lethal



By Region




  • North America (The U.S., and Canada)

  • Europe (The U.K, Germany, France, Russia, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)

  • The Middle East (Saudi Arabia, Turkey, Israel, and Rest of the Middle East)

  • Rest of the World (Latin America, and Africa)


Global Ammunition Market
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  • 2019
  • 2016-2018
  • 156

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