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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.
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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 this 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.