Global Market for Small-Caliber Ammunitions is Predicted to Exceed US $7.7 billion by 2031, at a CAGR of 4.2%: TMR Study
The market for small-caliber ammunition is expanding as a result of rising demand for contemporary ammunition in a variety of designs for effective and affordable training of soldiers as well as weapon operators
Wilmington, Delaware, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. - *The global market for small-caliber ammunition was estimated to have garnered a global market valuation around US$ 5.4 billion in 2022. The market is anticipated to grow with a booming *4.2% CAGR* from 2022 to 2031 and by 2031, the market is likely to gain US$ 7.7 billion.The demand for various kinds of small-caliber ammunition is expanding as shooting activities become more popular and hunting expenses rise. A sharp rise in the demand for light ammunition firearms for personal protection is fueling the expansion of the small-caliber ammunition business.
For the past few years, the demand for small caliber ammunition has been driven by the rise in interest in hunting as a pastime. The pistol, shotgun, and rifle are frequently employed in competitive sporting events like the Olympics. For indoor sports, shotguns are typically used to fire stationary targets, whereas rifles as well as pistols are employed for outdoor activities.
Manufacturers throughout the world are seeing considerable growth potential in the small-caliber ammunition market due to the growing use of sports weapons for hunting, pleasure, and competitive shooting.
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*Market Snapshot:*
* Report Coverage* * Details*Market Revenue US$ 5.4 BnEstimated Value US$ 7.7 BnGrowth Rate - CAGR 4.2% Forecast Period 2023-2031No. of Pages 161 PagesMarket Segmentation By Type, Caliber, End-userRegions Covered North America, Europe, Asia Pacific, Middle East & Africa, South AmericaCompanies Covered Aguila Ammunition, AMMO, Inc., ATS Ammunition Skopje, BAE Systems Plc, Beretta Holding S.A.,, CBC Global Ammunition, Elbit Systems Ltd., Fiocchi Munizioni S.p.A., General Dynamics Corporation, Nammo AS, Northrop Grumman Corporation, Poongsan Corporation, Visa Outdoor Operations LLC
*Key Findings of Market Report *
· For the past few years, the demand for small caliber bullets has been driven by the rise in interest in hunting as a pastime.
· Full metal jacket ammunition has a sizable market share in 2022 in terms of type.
· In 2022, the category with the biggest share of the global market in terms of caliber was 7.1 mm to 9 mm.
· In 2022 North America accounted for 42.3% of the worldwide small-caliber ammunition market.
*Market Trends **For** Small-caliber Ammunition*
· In 2022, the category that garnered a significant share of the global market by caliber was 7.1 mm to 9 mm. Both law enforcement and the military place a strong preference on the 9 mm cartridge as a sidearm.
· The fact that this round is lightweight, easy to fire, suitable with high-capacity staggered-feed magazines, as well as exhibits acceptable terminal performance are just a few of the reasons why it is so popular.
· The full metal jacket ammunition sector accounted for a sizable market share in 2022, owing to its high ballistic performance, which allows it to retain both speed and precision when fired from a weapon. It has grown to be quite well-liked, and several producers now opt to make this kind of ammo. The copper or other metal jacket that covers FMJ bullets prevents lead from settling in the chamber.
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*Global Small-caliber Ammunition Regional Market Outlook*
· North America held a significant proportion of the worldwide market in 2022, by region. The United States is nevertheless dedicated to updating its military in order to stay up with new developments and equal those of its rivals. The Department of Defense (DoD), which has the greatest defense budget in the world, has the means to continuously update and improve its fleet.
· The Asia Pacific small-caliber ammunition industry is expected to grow significantly. The market is anticipated to grow quickly in the next years due to significant increases in military spending in important regional nations like China, India, and Japan.
*Global Small-caliber Ammunition Market: Key Players*
The market for small-caliber ammunition is very concentrated, with a limited number of suppliers holding the lion's share of market share. The most recent small-caliber ammunition market trends are being followed by prominent companies, who are investing a lot of money in thorough new product releases, research, and development. Key players frequently use acquisitions as well as product portfolio expansion and diversification as primary tactics.
The top companies competing in this market include CBC Global Ammunition, Elbit Systems Ltd., Nammo AS, BAE Systems Plc, Northrop Grumman Corporation, General Dynamics Corporation, Visa Outdoor Operations LLC, Beretta Holding S.A., and AMMO, Inc.
Some developments by the key players in the global market for small-caliber ammunition are:
· The United States Department of Defense granted Global Military Products LLC an agreement for the acquisition and delivery of ammunition in 2023, with a completion deadline of January 2024.
· Beretta Holding S.A. finalized the acquisition of the Swiss government-owned RUAG Ammotec Group in 2022. This transaction is expected to help Beretta Holding Group acquire 16 firms in 12 countries along with 2,700 employees. Several high-end brands, including RWS, Geco, Norma, and Rottweil, would be included in Beretta Holding's current premium brand portfolio.
· The United States Army obtained a contract for small-caliber ammunition to Northrop Grumman Corporation's entirely owned subsidiary, Alliant Techsystems Operations LLC, in 2019. The order, which includes 5.56mm, 7.62mm, and Cal. 50 rounds, is part of the business's supply contract to produce small-caliber ammunition for the United States Government at the Lake City Army Ammunition Plant in Independence, Missouri.*Get Customization on this Report for Specific Research Solutions:* https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=72486
*Global Small-caliber Ammunition Market Segmentation *
· *Type*
· Full Metal Jacket Ammunition (FMJ)
· Tracer Ammunition
· Incendiary Ammunition
· Armor Piercing Ammunition
· Others (Ball, Jacketed Hollow Point (JHP), Blank, etc.)
· *Caliber*
· ≤ 7 mm
· 7.1 mm to 9 mm
· 9.1 mm to 12 mm
· 12.1 mm to 14 mm
· *End-user*
· Military
· Commercial
· Law Enforcement Agencies
· *Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America*About Transparency Market Research*
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