Visiongain Publishes Ammunition Market Report 2021-2031
10 November 2020
Visiongain has published a new report on Ammunition Market Report 2021-2031: Forecasts by Type (Bullets, Aerial Bombs, Artillery Shells, Mortars), by Caliber (Small, Medium, Large), by End Use (Defence, Homeland Security) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Ammunition market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031. The growth of this market can be attributed to increasing border disputes among neighboring countries, rising illegal activities such as smuggling, weapons trade and adoption of 3D Printing for ammunition production.
The increase in border disputes between neighboring countries is one of the factors that may fuel the demand for ammunition market. Various countries such as South Korea, China, Japan, and Middle Eastern countries have been witnessing rise in border disputes as well as transnational security threat. With the growing border disputes among neighboring countries, it is expected that ammunitions market will grow during the forecast period. Illegal activities such as smuggling, weapons, drugs, alcohol have been increasing in the past few years. There have been reports, that annually an estimated 63 million guns have been trafficked to India and Pakistan. With the rising illegal activities such as smuggling, weapons trade, it is expected that the ammunitions market will grow during the forecast period.
3D printing technology has been witnessing a significant growth for multiple application areas. Numerous industry sectors such as aviation, defense, and healthcare adopted this technology for manufacturing various system components. The adoption of 3D Printing for ammunition production may attribute to the growth of ammunition market.
COVID-19 Impact on Ammunition Market
The COVID-19 outbreak has created a huge impact across the globe. However it was reported the sales of ammunitions has increased during the pandemic. For instance, the sales of 9mm ammunition increased by 500%, whereas .223 and 5.56 ammo used in AR-15 and other semi-automatic guns were up by 900%.
The players operating in the ammunition market have witnessed a growing demand for ammunitions and have received several contracts from military organizations. Some of the company’s profiled in this report include Nammo AS, BAE Systems, Northrop Grumman, RUAG, Denel SOC Ltd, Rosoboronexport, General Dynamics Corporation, Rheinmetall AG, Olin Corporation and Poongsan Corporation.
• In August 2020, Federal Ammunition received a contract from the U.S. Army o supply high-performance 7.62x51mm NATO and other novel ammunition for the U.S. Army’s Next Generation Carbine Technologies (NGCT) program. This suite of ammunition utilizes a specialized alloy cartridge case allowing for elevated chamber pressures and a reduction in ammunition weight as compared to legacy brass-cased ammunition.
• In June 2020, Winchester Ammunition received a contract from the U.S. Department of Defense (DOD) worth USD 38 million to produce frangible 9mm ammo. The selected 9mm frangible ammunition will be used for close-quarter battle (CQB) combat and indoor/outdoor CQB training.
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