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
Read 105 page research report with ToC on "Small & Medium Caliber Ammunition Market Size, Share & Trends Analysis Report By Product (7.62 x 39 mm, 23 x 115 mm), By Region (Asia Pacific, MEA, Central & South America) And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/small-medium-caliber-ammunition-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 Increasing demand for handguns for self-defense, local law-enforcement ammunition, and replacement of outdated ammunition with advanced ones are also some of the significant factors that are propelling the market growth.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
- Small & Medium Caliber Ammunition Regional Outlook (Revenue, USD Million, 2016 - 2027)
- Asia Pacific
- Sri Lanka
- Middle East & Africa
- Burkina Faso
- Central & South America
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
- 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)
- North Industries Group Corp. (Norinco)
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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.
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