Global Large Caliber Ammunition Market - Growth, Trends, and Forecast (2018 - 2023)
The large calibre ammunitions market is anticipated to register a CAGR of 5% over the forecast period 2018 - 2023. Calibre of a bullet is the measurement of the diameter of the projectile part of the bullet. Large Calibre Ammunition finds most of its market and application in the militaries all over the world.
Increasing Threat from Terrorist Organizations
From a broad perspective, it can be said that the world woke up to terrorism in 2001 when Al-Qaeda carried out its attack on the World Trade Center in New York City, US. Ever since, terrorist activities have been on the rise, and have become the most pressing issue for decision-makers dealing with diplomatic and military operations. On a global scale, Africa emerged as the most vulnerable region to terrorist attacks in 2010, with 879 attacks and 2,137 fatalities.
Growth in the terrorism is a growing concern worldwide. In the recent past, the world has witnessed an increase in the number of attacks by the terrorist organizations. The Western and Central Africa is the most vulnerable region when it comes to terrorist attacks.
As per the current scenario, the region of Australia has been facing imminent threats by the terrorist organizations. In the US, the AR-15 assault rifle has become the most favored rifle for mass killings. The assault rifle which had been designed for “maximum wound effect” has become one of the most popular rifles owing to its characteristics of instant death to the victim. The bullets of an AR-15 assault rifle leads to rupturing of the vital organs inside a person leading to instant death. Various versions of the AR-15 rifle has been the standard issued weapons in the US army. On the other hand, in the present scenario this gun has been used as a mass killing machine by terrorist organizations. For example- The AR-15 rifle was used during the Texas church shooting which wounded many people.
Therefore, the increasing threat from people who are using rifles for carrying out mass shootings have led to growing concerns among common people thereby driving investment against the ammunition industry.
Key Developments in the Market:
September, 2017: Eurenco, the company which manufacture, develops and produces a diverse range of products for the commercial as well as for the defense sector have announced that they are developing new multi base propellants and combustible cartridges for tank as well as ammunition market.
March, 2018: The Company Rheinmetall Defense has announced that they will be supplying large caliber ammunition to Australian Defense forces. The contract shall enable Rheinmetall Defense to be recognized as the sole supplier of artillery ammunition to Australia.
Major Players: CBC, RHEINMETALL DEFENCE, GENERAL DYNAMICS CORPORATION, NEXTER, DENEL, BAE SYSTEMS PLC, ALLIANT TECHSYSTEMS, OLLIN CORPORATION AMONGST OTHERS.
Reasons to Purchase this Report
1. Provides Latest Insights into the large calibre ammunitions market
2. Analyzing various perspectives of the market with the help of Porter’s five forces analysis
3. Detailed analysis on the region expected to witness fastest growth in the market
4. Identify the latest developments, market shares, and strategies employed by the major market players
5. 3 months analyst support along with the Market Estimate sheet (in excel)
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