Asia Pacific Ammunition Market - Analysis of Growth, Trends Progress and Challenges (2018 - 2023)
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 Asia Pacific and the major party responsible for this has been the Islamic State which has replaced the Al-Qaeda as the de-facto numero uno Asia Pacific terrorist organization.
Growth in Asia-Pacific Region
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 warfare 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. Also Japan in addition to India and China has been spending record high amount on defence expenditure to counter growing Chinese Aggression. China is undertaking massive modernization drive to become the most powerful and advanced military in the world, by spending huge amounts on military.
Overall the Asia Pacific Ammunition market will be the fastest growing market of the world and will be led by the big 4 economies of the region China, India, Japan and South Korea.
Key Players: CBC, ADI Limited, Rheinmetall Defence, Alliant Techsystems, Nexter, among others.
January 2017: India purchased weapons and ammunition on an emergency footing from Russia and Israel. The total amount of deals made were worth USD 3 billion (over INR 20,000 crore).
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