Ammunition Market - Analysis of Growth, Trends Progress and Challenges (2018-2023)
The market is expected to grow from a market size of $6.53 Billion in 2015 to a market of $8.14 billion by 2020 by growing at a CAGR of 4.50%.
There has been a spike in terrorism around the globe especially in the past 2 years. Asia Pacific, Africa and Latin America were always prone to violence and terrorist attacks but in recent times , the threat of terrorism has spread rapidly to Europe and North America and the major party responsible for this has been the Islamic State which has replaced the Al-Qaeda as the de-facto numero uno global terrorist organization.
The recent terror strikes in Paris and Turkey have shaken the European population, thus there will be a spike in gun ownership in the region as the people there begin to doubts on their safety. All over the world, the civilian gun sales are expected to rise and will remain strong especially in Africa and Latin America where the population faces a relatively higher safety risk. North American will register a modest rate of growth which will be pushed up by increased spending by Mexico.
Asia Pacific region, especially India is expected to do a comprehensive modernization of its armed forces and that includes its much talked about F- INSAS Program, which will equip Indian soldiers with modern equipment, thus boost the global Small Caliber Ammunition market. Also India will be buying Artillery guns in the near future to make up for the old Bofors guns which have become obsolete. Already 144 Dhanush guns which are indigenous and reworked Bofors guns are on order, but since the Army needs a total of 2,820 artillery guns of various kinds to service its needs, India will be a major market in the years to come.
The Global Ammunition market will see subdued rates of growth in the North America region owing to large scale defense budget cuts . But the rest of the world will drive the growth in the Global Ammunition Market and the Asia Pacific region will see the highest rates of growth.
What the report offers
1. Market analysis for the Global Ammunition Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Global Ammunition Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped