Ammunition Market revenue to cross USD 43 Bn by 2030, Says Global Market Insights Inc.
The report also identifies the restraints affecting the industry such as a growing focus among regional governments to adopt stringent gun rules. In 2021, the UK government tightened its firearm ownership laws and introduced additional safety precautions. It provided comprehensive guidance for the police to follow when reviewing gun license applications. Similar efforts to restrain firearm ownership in other countries and curb gun violence may affect the market growth to some extent.
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The large caliber ammunition market is anticipated to reach USD 8 billion by 2030. Military equipment, such as tanks, machine guns on aircraft & ships, mobile combat vehicles, etc., usually require large caliber ammunition. As nations increase their spending to expand ground and naval defense forces, the demand for ammunition products will surge. For instance, in January 2022, the Australian government confirmed that it will spend over USD 2.5 billion to buy 120 armored vehicles including tanks from the U.S. In July, Poland also inked an agreement to purchase more than a hundred used Abram Tanks while it attempts to replace the T-72 tanks donated to Ukraine to tackle the Russia invasion.
Latin America ammunition market is estimated to attain a 4.5% growth rate till 2030. Most countries in the region provide gun permits to citizens, which are subject to certain regulations. People above the age of 18 & 21 years can apply for a gun license in Mexico and Argentina, respectively, coupled with fulfilling other stringent conditions. Brazil, one of the biggest economies in the region, has a strong domestic weapon sector. It also produces and exports defense products such as fighter jets and small firearms. During the eight months of 2021, the country exported around USD 1.35 billion worth of military equipment and systems.
Some of the major companies operating in the ammunition market are Ruag Ammotech, Global Ordnance, Northrop Grumman Corporation, CCI, BAE Systems, Elbit Systems Ltd., Magtech, NAMMO AS, Denel, and Nexter Group. The study examines prominent strategies used by the market players to expand their global reach including product developments, mergers & acquisitions, and government contracts.
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Table of Contents (ToC) of the report
Chapter 2 Executive Summary
2.1 Ammunition industry 3600 synopsis, 2018 - 2030
2.1.1 Business trends
2.1.2 Caliber trends
2.1.3 Application trends
2.1.4 Regional trends
Chapter 3 Ammunition Market Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.3 Defense spending by country, 2021
3.4 Technology & innovation landscape
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Regulatory trends
3.7 Growth potential analysis, 2021
3.8 Competitive landscape
3.9 Porter's analysis
3.10 PESTEL analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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