The global Military Ammunition Market research is an intelligence report announced by Absolute Markets Insights. The erudite market study provides insightful data for readers to help them in making informed business decisions. Primary and secondary research methodologies have also been used to discover the correct and applicable data of Military Ammunition Market . Effective business strategies of key market players and of new startup industries are also studied thoroughly to provide extensive market knowledge. The report makes use of an effective analysis technique such as SWOT and Porter’s five analysis to present its accurate results on the market.
The major key pillars for global Military Ammunition Market are listed below: General Dynamics Ordnance and Tactical Systems, Lockheed Martin, Northrop Grumman Corporation, BAE Systems, Hornady, Black Hills Ammunition Inc, VISTA OUTDOOR OPERATIONS LLC., CBC Global Ammunition, Federal Ammunition, Nammo AS, Nexter group KNDS, Olin Corporation, Poongsan Corporation, Rheinmetall AG, RUAG Group
In terms of revenue, the global Military Ammunition Market was valued at US$ 15,708.6 Mn in 2020 and is expected to reach US$ 21,287.0 Mn by 2030, growing at a CAGR of 3.5% over the forecast period. The study analyzes the market in terms of revenue across all the major regions, which is further bifurcated into countries.
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Global spending on military ammunition is anticipated to increase over the forecast period, primarily due to the sustained procurement expected to be carried out by major defense spending countries. Increasing cross border disputes between the neighboring nations across the globe will primarily drive the Military Ammunition Market over the forecast period. The countries that are currently involved in conflicts along with emerging economies that are involved in territorial disputes and countering insurgencies are propelling the growth of global Military Ammunition Market . In addition, the need to maintain sufficient inventory of ammunition for militaries across the globe along with an increasing demand for training ammunition is also anticipated to have a positive impact on the demand for military ammunition over the coming years. For instance, in 2019, the Defense Ministry of India raised an order for 72,400 assault rifles to the U.S. firm Sig Sauer to replace INSAS rifles in order to modernize the infantry. Similar procurement activities is expected to influence demand for small caliber ammunition during the forecast period. Furthermore, modernization initiatives undertaken by the major defense spending countries towards up-gradation of existing firearms, and the induction of new advanced models are also expected to encourage spending on military ammunition.
The impact of military modernization on the ammunition market is prominent in the emerging economies such as India, China, Brazil, and Russia, which are spending immensely on enhancing the capabilities of their defense forces. However, the increasing emphasis on defense budget cuts in a number of western countries is enforcing the government to opt for privatization of production facilities to maintain efficiency while remaining aligned with budgetary constraints, which is adversely impacting the growth of global Military Ammunition Market . The ammunition market is expected to witness a number of private-public partnerships, technology transfer, joint development initiatives, and mergers and acquisition to sustain capabilities and further advance technologies with limited resources. For instance, companies such as Lockheed Martin, General Dynamic Corporation, VISTA OUTDOOR OPERATIONS LLC., BAE Systems, and Northrop Grumman have collaborated with the U.S. government and generate a majority of their revenues through military and government channel. Moreover, these key players have also collaborated with their competitors for various deference programs to supply sub-systems or components to cater to customer’s requirements.
Global Military Ammunition Market Segmentation:
- Aerial Bombs
- Artillery Shells
- Mortar Ammunition
- Armor Piercing
- Jacketed Hollow Point
- Full Metal Jacket
- Small Caliber
- Medium Caliber
- Large Caliber
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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