Position of Market for Ammunitions at present in Whole World
The global market for ammunition is primarily driven by the demand from various armed troops, government concerns to prevent threats from terrorist organizations and international geopolitical disputes. The growth of the ammunition market is attributed to the changing military and law enforcement requirements, various military modernization initiatives and continual research and development globally. Additionally, the increasing civilian participations in shooting related sports are currently pushing the market for ammunitions forward worldwide. Furthermore, the increasing expenditure in military enhancements and increasing arms race, especially among the nations in Asia Pacific are currently influencing significant growth of the ammunition market, thereby posing for future opportunities during 2015 to 2021.
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On the basis of segmentation by type, the global ammunition market has been categorized into full metal jacketed (FMJ), tracer, incendiary, armor piercing and other ammunition. The full metal jacketed ammunition segment is estimated to account for the largest market share during the forecast period owing to their wide range of applicability my military, law enforcement and commercial sectors. Increasing research initiatives for enhancement of ammunition is currently serving as a major boost to the growth of the global ammunition market. Coupled with advancement in technology and growing demand for tracers, incendiary and armor piercing among the armed troops, the market for is expected to register significant growth over the forecast period. Owing to these factors, the global ammunition market is growing at a significant pace.
Additionally, the market has been segmented on the basis of calibers which include small caliber ammunition, medium caliber ammunition, mortar ammunition, artillery ammunition and shotgun shells. Demand for small caliber ammunition is increasing globally at a significantly high pace owing to the wide range of applicability of them in military, law enforcement and commercial sectors. Similarly, the artillery ammunition segment is also estimated to be growing at a steady pace among various military organizations worldwide.
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Based on segmentation by application, the global ammunition market is estimated to be dominated by the military segment throughout the forecast period. However, the demand for ammunition from the law enforcement and commercial sector is also expected to be growing considerably from 2015 to 2021. Moreover, the rising demand from the commercial market worldwide is also expected to influence a positive shift to the growth of the global ammunition market over the forecast period.
The market has been further segmented on the basis of geography, which includes North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). Europe is estimated to be leading the global ammunition market with market revenue share more than thirty five percent in 2014 and is expected to continue its dominance throughout the forecast period. Following Europe, the North America region is estimated to be the second largest geographical segment in the global ammunition market. Asia Pacific presently accounts to be the fastest growing region in the global ammunition market with a substantial compounded annual growth rate from 2015 to 2021. Rest of the World (RoW), especially countries in the Middle East such as Israel, Saudi Arabia, Turkey and others are investing heavily in the development and procurement of advanced ammunition to preserve domestic security. Various countries in Africa and South America are expected to boost market demand and offer opportunities to the manufacturers over the forecast period from 2015 to 2021.
The report includes market size and forecast for 20 major ammunition markets across the world. Additionally, the report includes profile of key players in the global ammunition market such as General Dynamics Corporation, Orbital ATK, Inc., Fiocchi Munizioni S.p.A., Nammo A.S., Rheinmetall Defence, Nexter Group, RUAG Holding A.G., and Prvi Partizan A.D, Hornady Manufacturing Company, Inc and Companhia Brasileira de Cartuchos among others.
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