Small & Medium Caliber Ammunition Market Size Worth $12.7 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, Dec. 1, 2020 /PRNewswire/ -- The global small & medium caliber ammunition market size is projected to reach USD 12.74 billion by 2027 registering a CAGR of 4.2%, according to a new report by Grand View Research, Inc. Rise in arms and ammunition purchasing due to increasing geopolitical tensions is expected to drive the demand for small & medium caliber ammunition over the forecast period. Rising global incidences of armed conflicts and terrorism have driven the major key economies to strengthen their defenses including military, air force, and navy, which is expected to have a positive impact on product demand.
Key suggestions from the report:
Products with 7.62 x 39mm caliber accounted for the largest revenue share of over 12% in 2019 owing to their compatibility with the AK series rifles
The market in India is expected to witness a growth rate of over 5% from 2020 to 2027, which can be attributed to the 'Self Reliant India' initiative announced by the Indian Prime Minister, which was imposed in a bid to make the Indian defense sector self-reliant and bolster indigenization
The market in Middle East and Africa is also expected to witness significant growth on account of increased military budget by Algeria, Morocco, Egypt, and Tunisia. Political disruption and fallen crude oil prices in the region due to CoVID-19 is expected to increase military activities across its borders, thereby boosting the market growth
Prominent players in the market are collaborating with the defense forces and the governments for replacing conventional arms and ammunition with the new and advanced weapon system. Moreover, the increasing trend of testing newly developed small and medium caliber ammunition in the developing economies by the supplier is expected to influence the market
Moreover, geopolitical situation including cross-border insurgency and boundary disputes between the major economies around the world is likely to influence the market on a positive note over the projected years. Increasing demand for handguns for self-defense, local law-enforcement ammunition, and replacement of outdated ammunition with advanced ones are also some of the significant factors that are propelling the market growth.
Grand View Research has segmented the global small & medium caliber market on the basis of product and region:
Small & Medium Caliber Ammunition Product Type Outlook (Revenue, USD Million, 2016 - 2027)
7.62 x 39 mm
7.62 x 54 mm
30 x 165 mm
23 x 115 mm
23 x 152 mm
12.7 x 108 mm
14.5 x 114 mm
Others
Small & Medium Caliber Ammunition Regional Outlook (Revenue, USD Million, 2016 - 2027)
Asia Pacific
Bangladesh
Sri Lanka
Philippines
Malaysia
Indonesia
India
Middle East & Africa
Kuwait
Egypt
Algeria
Tunisia
Morocco
Benin
Burkina Faso
Cameroon
Central & South America
Peru
Chile
List of Key Players of Small & Medium Caliber Ammunition Market
Northrop Grumman Corp.
FN Herstal
General Dynamics Corp.
BAE Systems, Inc.
ARSENAL JSCo
MESKO S.A.
Nammo AS
Rheinmetall Defense
JSC Rosoboronexport
Nexter KNDS Group
ST Engineering
Denel SOC Ltd.
MAXAMCorp Holding, S.L.
RUAG Group
Poongsan Corp.
CBC Ammo LLC
STV Group a.s.
Yugoimport SDPR J.P
The Ulyanovsk Cartridge Works
Rostec
The Tula Cartridge Works
Klimovsk Specialized Ammunition Plant
V.A. Degtyarev Plant
State Research and Production Enterprise Bazalt
Central Research Institute for Precision Machine Building (TsNIITochMash)
Ammunition Market ? The global ammunition market size was estimated at USD 20.40 billion in 2019 and is expected to exhibit a CAGR of 3.9% from 2020 to 2027.
Composites Market ? The global composites market size was estimated at USD 89.04 billion in 2019 and is expected to expand at a compounded annual growth rate (CAGR) of 7.6% from 2020 to 2027.
Lightweight Materials Market ? The global lightweight materials market size was estimated at USD 113.78 billion in 2016 and is expected to register a CAGR of 8.9% over the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Providing a comprehensive overview of NOVAGOLD's Environmental, Social and Governance (ESG) performance, emphasizing remarkable health and safety records, steadfast dedication to environmental protection, continuous community investment, extensive...
VIOR INC. ("Vior" or the "Corporation") ; and is pleased to announce that it has closed a non-brokered private placement (the "Offering") for gross proceeds of $2,520,000, by issuing 20,160,000 units of the Corporation...
Reyna Silver Corp. ("Reyna" or the "Company") is pleased to announce a non-brokered listed issuer financing exemption (LIFE) private placement of up to 6,250,000 units of the Company ("Units") at a price of $0.16 per...
Ingevity Corporation announced today that it will release its first-quarter 2024 earnings after the stock market close on Wednesday, May 1, 2024.
The company will host a live webcast on Thursday, May 2, at 10:00 a.m. (Eastern) to discuss...
PHX Minerals Inc., "PHX" or the "Company" today announced that PHX's bank lending group led by Independent Financial has completed its regularly scheduled semi-annual redetermination of the Company's senior secured credit facility (the "Credit...
Metallus , formerly known as TimkenSteel, a leader in high-quality specialty metals, manufactured components, and supply chain solutions, will release its 2024 first-quarter financial results on Thursday, May 9, after the market closes on the New...