VANCOUVER, BC, Dec. 2021 /PRNewswire/ — The global small caliber ammunition market size was USD 7.74 Billion in 2020. The rapid increase in civilian conflicts, international disputes, and increased adoption of small caliber weapons and ammunition by the military, homeland security, and law enforcement agencies for maintaining law and order are key factors driving market revenue growth.
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Drivers: Increase in military modernization programs in developing countries
Ammunitions play a decisive role in escalating, prolonging, and intensifying armed conflicts. Countries such as Russia, China, Turkey, and India, among others are spending significant amounts to modernize their respective defense and military sectors. As a result, defense expenditure for procurement of small-caliber ammunition and R&D activities has increased significantly over the past few years. These countries are spending significantly on military modernization programs to improve their firepower assets in terms of range, precision, mobility, and lethality.
Advancements in ammunition production technologies such as casting and cold swaging are supporting the growth of the small caliber ammunition market. For instance, .300 Blackout (BLK) small caliber bullet has attracted from army special operatives and personnel as it is suitable for special operations such as counterinsurgency, hostage rescue, and mobility operations.
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Restraints: Imposition of economic, legal, and political regulations
Economic and political regulations often impact the contracting and procurement processes of ammunition in various countries. Non-compliance with regulations could severely impact the operations of major market players, thereby restraining the growth of the small caliber ammunition market. Differences in regulations of different countries are driven by numerous legal and political factors. For instance, weapons and ammunition laws in the U.S and India are different. India has stricter regulations regarding the use and carrying of a weapon and/or ammunition as compared to gun control laws in the U.S.
Growth Projections
The global small caliber ammunition market size is expected to reach USD 9.35 Billion in 2028 and register a revenue CAGR of 2.3% over the forecast period, according to the latest report by Emergen. Increasing defense and military spending, expanding police and security agency troop size, increasing number of female shooters, and increase in the number of shooting competitions are some key factors driving revenue growth of the global small caliber ammunition market.
COVID-19 Direct Impact
COVID-19 pandemic continues to negatively impact various aspects and activities in countries across the globe. Several countries have been reporting and dealing with mutations and variants, and some developing countries have been forced to cut defense spending. Due to the steep rise in COVID-19 infected, Latin American and African countries have cut respective defense budgets to invest more in the healthcare sector. COVID-19 has created a shortage of small-caliber ammunition worldwide. I Global manufacturing of small-caliber ammunition, components, and assembly lines were impacted during the first half of 2020. Rising geopolitical tensions and cross-border conflicts between various countries, which include countries such as India, China, Australia, the U.S, and others, have created an increased demand for small-caliber ammunition.
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Current Trends and Innovations
Advancements in technologies and innovations in ammunition such as green ammunition are boosting demand and driving growth of the small caliber ammunition market. The introduction of advanced and environment-friendly small arms ammunition or green ammunition is having a major impact on the small caliber ammunition market. Green bullets are made up of nylon and tungsten, and are a better alternative to lead core bullets, and were introduced to reduce environmental contamination of training grounds and firing ranges. The primary objective behind green munitions is to remove volatile organic compounds and heavy metals from primers and projectiles, which eliminates risks of potential health hazards such as those caused by lead bullets.
Geographical Outlook
Market in the Asia Pacific contributed significantly in terms of revenue share to the global small caliber ammunition market in 2020 and is expected to register a rapid growth rate over the forecast period. Market in North America accounted for a significantly robust revenue share in 2020 owing to a rise in demand for more advanced small-caliber ammunition. The growing number of drug cartels in Central America is also supporting the revenue growth of the market in the region. Revenue share contribution from the market in China to the Asia Pacific is expected to register the fastest growth rate during the forecast period.
Strategic Initiatives
In June 2020, the U.S Department of Defense (DoD) signed a contract with Winchester Ammunitions, which is a company engaged in manufacturing small-caliber ammunition. Under this contract, DoD announced the purchase of 9mm small caliber ammunitions worth USD 38 Million from Winchester Ammunitions for close quarter battle, and indoor and outdoor battle training purposes.
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Some Key Highlights from the Report
- 45 ACP segment accounted for moderate revenue share in 2020 which is expected to increase at a steady rate over the forecast period owing to stopping power of this caliber when used against thieves, intruders, burglars, or other criminals. It is ideal for home defense as it has lower muzzle blast and flash and has manageable recoil when used in handguns.
- The copper segment accounted for a significantly large revenue share in 2020 due to higher preference owing to the material’s lighter weight and discharge recoil, which results in more accurate shooting. Additionally, copper bullets penetrate deeper and do not require any extra cleaning.
- The military and homeland security segment accounted for a significantly large revenue share in 2020 and is expected to register a moderate growth rate over the forecast period owing to high demand for advanced military equipment such as pistols, rifles, and shotguns, and increased investment by different countries to modernize respective defense sector.
- Some major companies included in the global market report are Aguila Ammunition, BAE Systems, Nammo AS, Northrop Grumman Corporation, CBC Global Ammunition, General Dynamics Ordnance, and Tactical Systems, Elbit Systems Ltd., FN Herstal, Denel Pretoria Metal Pressings (PMP), and Olin Corporation.
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Emergen Research has segmented the global small caliber ammunition market based on caliber type, bullet type, gun type, end-use, and region:
- Caliber Type Outlook (Revenue, USD Billion; 2018–2028)
- .223 Remington
- .308 Winchester
- 9mm Luger
- 7.62mm
- 45 ACP
- .338 Lapua Magnum
- 5.56mm
- Others
- Bullet Type Outlook (Revenue, USD Billion; 2018-2028)
- Lead
- Copper
- Brass
- Others
- Gun Type Outlook (Revenue, USD Billion; 2018–2028)
- Rifles
- Pistols
- Handguns
- Shotguns
- Others
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Military and Homeland Security
- Law Enforcement
- Hunting and Sports
- Self-defense
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
- North America
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