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The global small caliber ammunition market size is estimated to display strong growth by reaching USD 9.78 billion by 2030. Fortune Business Insights™ in its report titled “Small Caliber Ammunition Market Size, Share, and COVID-19 Impact, by Caliber (223 Remington, 308 Winchester, 9mm Luger, 45 Auto/ACP, 380 ACP, 357 Magnum, 10 Gauge, 12 Gauge, 40 S&W, 20 Gauge, 22LR, 50 BMG, 6.5 Grendel, 7.62*39/54r, 5.56*45, 0.338 Lapua, 30-06 Springfield, and Others), By Application (Commercial (Shooting Sports & Hunting and Self-defense), Military, and Homeland Security), By Bullet Type (Lead, Copper, Brass, and Others), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 8.00 billion and is expected to reach USD 8.11 billion in 2023. The market is expected to witness a strong CAGR of 2.72% during 2023-2030. Small caliber ammunition are the canisters which are used fuses, boosting charges used in different gun types, small arms, and artillery. Companies have been designing and developing environment-friendly ammunition which is expected to pose as an opportunity for the market development.
U.S. Army Awarded A Contract To Winchester Ammunition Manufacturing Processes For The 7.62 Mm Cartridge
In December 2021, The U.S. Army awarded a contract to Winchester Ammunition to development of manufacturing processes for the 7.62 mm cartridge. The contract was about USD 13 million. Such industrial developments by the key market players are set to push the growth for this market.
Increasing Number of First-Time Buyers During Pandemic in U.S. Supported Market Growth
The pandemic of COVID-19 moderately impacted the defense industry. With COVID-19 pandemic, increasing number of first-time gun and ammunition owners in the U.S. increased as The National Shooting Sports Foundation (NSSF) estimated that the first quarter of 2020 will have 40% of the firearms were purchased by first-time buyers.
Demand For Environment- Friendly Ammunition To Propel Market Development
Demand for environment- friendly ammunition is predicted to drive small caliber ammunition market growth. In order to protect the ecosystem, military agencies have been designing and developing environment-friendly ammunition. The U.S. army has been involved in the designing and development of biodegradable bullets, with its focus being on reducing soil contamination. Development of advanced tracer ammunition and frangible ammunition is also set to drive the market development.
On the other hand, government rules and regulations regarding the ownership of the guns and ammunition differentiates in various countries which hampers the market growth.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/small-caliber-ammunition-market-102795
Business Expansion Through Contracts With Defense Forces By The Market Players To Propel Market Share
The Original Equipment Manufacturers (OEMs) have been focusing on business expansion through contracts with defense forces of different countries. In April 2020, Nammo AS signed a contract for USD 68.3 million with the Swedish Defense Materiel Administration for the delivery of small caliber ammunition. This will allow Swedish Armed forces to strengthen their military training program.
Key Industry Development
List of Key Companies Profiled in the Market Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 2.72 % from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Caliber, Application, Bullet Type, and Geography |
Segmentation | By Caliber
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By Application
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By Bullet Type
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By Geography
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