Global Small Caliber Ammunition Market - Growth, Trends, and Forecast (2018 - 2023)
The small caliber ammunition market is anticipated to register a CAGR of 3% over the forecast period 2018 - 2023. Small caliber ammunitions are principally cartridge-based ammunitions and are also alternatively referred to as small arms ammunition, used in a variety of firearms including handguns (pistols and revolvers), rifles, shotguns and other heavy automatic weapons like machine guns.
Increasing Threat from Terrorist Organizations
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.
Since their foundation in 2014, the Islamic state has carried out more than 140 terrorist attacks in 29 countries apart from Syria and Iraq. For example – the person who was responsible for carrying out attacks in Chattanooga, Tennessee which led to the death of four US marines as well as a sailor was motivated by foreign terrorist organizations propaganda. Obtaining precise information on some of the attacks carried out by ISIS can be hard to obtain but it is clear that the roots of ISIS have spread from the group’s epicenter in Iraq and Syria to various places globally. In 2015, North America proved to be a vulnerable region to terrorist attacks. For example – on May 3rd, 2015, two men fired outside a Prophet Mohammad cartoon contest in the suburbs of Dallas. The gunmen, who were identified as Elton Simpson and Nadir Soofi wounded a security guard before they were killed by the police. According to the statement released by the police officials at a later stage revealed the connections between Elton Simpson and ISIS.
Therefore, the increasing threat of terrorism has led to higher spending by governments, to protect themselves, thereby driving investment into the ammunition industry.
Key Developments in the Market:
January, 2018: Ollin Corporation announced that they have been awarded a contract from the US army for supplying 5.56mm and 7.62mm small calibre cartridges
February 2018: Israeli based IMI systems have announced that they have developed a new armour piercing 5.56mm round in order to boost the capabilities of the combat soldiers on the battlefield. The round is being evaluated by the Israeli Defence Forces.
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 small calibre ammunition market
2. Analyzing various perspectives of the market with the help of Porter’s five forces analysis
3. Regional analysis of 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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