According to a recently published report by Research Nester on “Small Caliber Ammunition Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global small caliber ammunition market in terms of market segmentation by gun type, application, caliber and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global small caliber ammunition market is segmented by gun type, application and caliber. The market is segmented into handgun, rifles, shotgun and others on the basis of gun type. On the basis of application, the market is segmented into self-defense, military/armed forces, government agencies, hunting and sports. On the basis of caliber, the market is further segmented into 5.6mm, 9mm, 7.62mm, 12guage, .22LR, .223Rem, .308caliber and others.
The market is anticipated to record a CAGR of around 3.2% over the forecast period i.e. 2019-2027 owing to increasing civil conflicts, terrorist attacks, crime rate and wars leading to increasing demand for guns for self-defense and military purposes. The government investments for technical up gradations and recent attacks on various countries and overall expansion of global ammunition market is expected to drive the market growth. The handgun segment is anticipated to have leading shares on the back of its application for both military and commercial purposes. The increasing crime rate has upsurge the product demand for self-defense coupled with its high utilization in hunting, shooting and other activities. The military/armed forces segment is anticipated to have leading shares on the back of increasing crime rate, terrorist activities, regional conflicts and inter border tensions followed by hunting and sports segment is anticipated to witness second largest shares on the account of increasing public inclination towards the sports for instance, hunting, shooting and others. Additionally, the increasing organization of hunting trophies and other contests by various countries to increase their tourism is expected to drive the market growth. Furthermore, the 12 gauge segment is anticipated to have leading market share on the account of their use in self-defense, shooting and hunting activities. The 12 gauge small caliber guns are highly used for various commercial purposes owing to their easy availability and cost effectiveness.
Geographically, North America is anticipated to have leading shares during the forecast period owing to the presence of key market players coupled with low government restrictions in use of self-defense guns and ease of getting license in the region followed by Europe, which is expected to witness second largest market share on the back of rising shooting and hunting activities coupled with increasing rate of self-defense against the crime rate. Asia-Pacific is expected to witness significant growth owing to the increasing terrorist activities in the region coupled with rising territorial conflicts between the countries.
The increasing terrorist activities, rising crime rate and global unrest are expected to drive the market growth with governments investing heavily in defense and military activities. However, fluctuating raw material prices and stringent government policies regarding the use of guns and license are expected to operate as key restraints to the growth of global small caliber ammunition market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global small caliber ammunition market which includes company profiling of Orbital Atk, Northrop Grumman Corporation, Olin Corporation (Winchester Ammunition), BAE Systems, Nexter, Ruag Group (Ruag Ammotec AG) and Poongsan Defense. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global small caliber ammunition market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.