Global Ammunition Market - Analysis of Growth, Trends Progress and Challenges (2018 - 2023)
Over the past few years, there have been several terrorist attacks across the globe, thereby leading to increasing safety concerns among people. The countries of Asia-Pacific, Africa, and Latin America have witnessed frequent attacks of violence. The threat of terrorism has been rapidly spreading to various other regions of North America and Europe. The European region has been facing persistent threats from ISIS, the Islamic terrorist group which has replaced Al-Qaeda as the most wanted global terrorist organization. The ISIS has displayed its ability to strike at the heart of Europe, as evident from the terrorist attacks conducted in Paris and Brussels, in 2015 and 2016 respectively. These attacks led to increased fear in Europeans, thereby boosting gun ownership in the region. The global ammunition market is influenced by several factors, including –
Upsurge in Terrorist Attacks in Developed Economies (OECD Countries)
According to the new Global Terrorism Index, the most developed countries have witnessed significant increase in the intensity and spread of terrorist incidents in the OECD member countries, including Australia, due to terrorism. According to the research conducted by the Institute for Economics and Peace (IEP), the number of terrorist activities in Australian soil during 2014-2015 was much higher than the cumulative number over the 15 preceding years. According to the Global Terrorism Index, ISIS has been considered to be the deadliest terrorist group. Additionally, the number of terrorism-related death witnessed a 10% drop in 2015, when compared to 2014. The fall in the death rate has been attributed to the actions taken against ISIS. However, on the other hand, ISIS has expanded its influence in the neighboring countries and regions, as forecasted by the Global Terrorism Index. An increase in the number of terrorism-related deaths in the OECD countries has grown by a whopping 650%. This increase has led to a marked rise in the transnational terrorist attacks. In terms of developed economies, 2015 was the second deadliest year in terms of occurrence of terrorist activities. Terrorism in OECD countries increased from 77 deaths in 2014, to 577 deaths in 2015. The impacts of terrorism have been spreading to various other OECD countries. Therefore, in the present scenario, terrorism is a constant threat worldwide.
Key Players: CBC, ADI Limited, Rheinmetall Defence, Alliant Techsystems, Nexter among others
Key Developments in the Market:
March, 2018: Australian Defence Force to take delivery of artillery ammunition from Germany’s Rheinmetall, as part of the Land 17 Phase 1C.2 Future Artillery Ammunition project
May 10, 2018: New Jersey local municipal council has passed a gun ordinance that would ban sales of guns and ammunitions in and around the vicinity of 'sensitive' areas.
May 1, 2018: Vista, Maker of Ammunition and Recreation Gear, Plans to Sell Off Gun-Making Unit for a better brand image and public acceptibility.
March 26, 2018: Remington Outdoors filed for bankruptcy, after recording a loss of over USD 700 million.
Reasons to Purchase this Report