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Global Small Caliber Ammunition Market: Focus on Caliber Type, Gun Type, and Applications - Analysis and Forecast, 2018-2023

NEW YORK, Dec. 20, 2018 /PRNewswire/ -- The Global Small Caliber Ammunition Market is Anticipated to Reach $8.62 billion by 2023, Reports BIS Research

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The global small caliber ammunition market is expected to witness a robust growth during the forecast period 2018-2023, as the rapid increase in civilian conflicts and terrorist clutter across the world has resulted in increasing the business prospects for the ammunition industry. The rising demand for handguns for self-defense, rising wars, conflicts, terrorist activities, and modernization in the procurement of defense products & services are some of the key drivers for the growth of the global small caliber ammunition market.

The small caliber ammunition industry, in the recent years, has seen manufacturers developing ammo of different calibers for both commercial and military applications.Of late, with the rising interests of people in activities such as hunting and shooting along with the rising concern for personal defense, the small caliber ammunition industry has been observing a robust growth.

For instance, trends such as trophy hunting or target shooting have become popular in major countries around the world.Target shooting (such as skeet shooting, trap shooting, and sporting clays), in particular, is increasingly practiced by both sportsmen and youngsters alike.

In addition to this, there is an increase in the demand for handguns and ammunition for self-defense owing to the increasing crime rates and growing fear due to the influx of refugees in various nations across the globe.

According to BIS Research analysis, the global small caliber ammunition market generated $7.37 billion in 2018 and is estimated to grow at a CAGR of 3.19% during the forecast period 2018-2023. With the U.S. acquiring the most significant market share, globally, North America dominated the global small caliber ammunition market in 2017. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2023.

Following points provide a detailed description of the report content and the topics covered in the report:
• The study examines the prime supply-side factors, which affect the growth of the market, along with the current and future trends, market drivers, restraints, and challenges prevalent in the global small caliber ammunition market.
• A detailed market share analysis has been included in this report which focuses on the -key market developments and strategies, followed by the top players in the market. Additionally, a market share analysis diagram has been included in the existing study to analyze the competitive strength of the players in the global small caliber ammunition market.
• A detailed Porter's Five Forces and PESTLE analysis has been included in the report.
• This report identifies the global small caliber ammunition market under different segments such as gun type, caliber type, applications, and region.
• The global small caliber ammunition market for the major regions, including North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa, has been analyzed in the report.
• In the Company Profiles section, the study provides a detailed analysis of the 17 key players in the global small caliber ammunition market, including Northrop Grumman, Nammo AS, BAE Systems, General Dynamics Ordnance and Tactical Systems, Singapore Technologies Engineering Ltd, Poongsan Corporation, Denel SOC Ltd (Denel PMP), and Global Ordnance, among others. This section covers business financials, company snapshots, key products and services, major developments, future programs (if any), and the individual SWOT analysis.

Executive Summary
The small caliber ammunition industry, in the recent years, has seen manufacturers developing ammunition of different calibers for both commercial and military applications.Of late, with the growing interests of people in activities such as hunting and shooting along with the rising concern for personal defense, the small caliber ammunition industry has been observing a robust growth.

For instance, trends such as trophy hunting or target shooting have become popular in major countries around the world.Target shooting (such as skeet shooting, trap shooting, and sporting clays), in particular, is being increasingly practiced by both sportsmen and youngsters alike.

Adding to this, there is an increase in the demand for handguns and ammunition for self-defense owing to the increasing crime rates and growing fear due to the influx of refugees in various nations across the globe.

There have been increments made in the overall defense spending of various countries all over the world. The growing defense budget of the different countries is playing a major part in the defense modernization program adopted for strengthening the nation's military forces.
The U.S. Department of Defense (DoD) has the highest defense budget of $611 billion for FY 2017 that includes army, navy, and air force defense budgets for a wide-range of ammunition. Asia-Pacific is one of the emerging regions that is continuously increasing expenditure on defense in order to develop the military power. This has increased the overall imports of arms and ammunition by a number of emerging countries in the Asia-Pacific region. Furthermore, China had the second largest defense budget after the U.S. for FY 2017. The growing demand for small firearms ammunition in emerging countries (such as Asia-Pacific, Middle East, and Africa) is likely to increase opportunities for small caliber ammunition players across different sectors, including civilian, law enforcement, hunting & sports, and military. The rapid increase in civilian conflicts and terrorist clutter across the world has further increased the business prospects for the ammunition industry. The key players actively participating in the global small caliber ammunition market are Northrop Grumman, Nammo AS, BAE Systems, General Dynamics Ordnance and Tactical Systems, Singapore Technologies Engineering Ltd, Poongsan Corporation, Denel SOC Ltd (Denel PMP), and Global Ordnance, among others.

The market reported a revenue of $7.37 billion in 2018 and is expected to grow at a significant CAGR during the forecast period 2018-2023. The global small caliber ammunition market has been segmented into four gun types: handguns, rifles, shotguns, and others. The handguns gun type market acquired the largest share in 2018.On the other hand, the rifles gun type market is expected to grow at the highest CAGR during the forecast period 2018-2023. Additionally, the small caliber ammunition market is classified into various caliber types such as 5.56mm, 9mm, 7.62mm, 12 Gauge, .22LR, .223 Rem, .308 Caliber, and others.

North America, followed by Europe, Asia-Pacific, Latin America, Middle East, and Africa, acquired the largest share of the global small caliber ammunition market. The U.S. and Canada are some of the prominent countries in North America for the development of the small caliber ammunition market. The U.S. dominated the overall market of the small caliber ammunition in the year 2018. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period 2018-2023. In Europe, the U.K. is one of the prominent countries which is currently focusing on the deployment of small caliber ammunition. Some of the other prominent countries include Germany and France.

The Asia-Pacific region majorly consists of China, South Korea, Japan, and India in the small caliber ammunition market.Currently, South Korea has the largest share of the small caliber ammunition market, and China is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.

Moreover, there are ample opportunities for new entrants in this region, as the demand for small caliber ammunition is increasing for civilian (self-defense) applications.

Countries Covered
North America
• The U.S.
Canada
Europe
Germany
• The U.K.
France
Italy
Russia
Asia-Pacific (APAC)
China
South Korea
India
Japan
Middle East
Turkey
• Isarel
Latin America
Brazil
Mexico
Argentina
Africa
South Africa

Read the full report: https://www.reportlinker.com/p05663444

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