The size of medium-caliber rounds ranges from 20mm to 57mm calibers. Rising threat of global terrorism along with geopolitical feuds among major economies is the primary driver for the ammunition market.
A wide-range of ammunitions have been adopted by the defense forces of various nations in order to protect their country from wars, conflicts and terrorist activities. Most of the industry giants are looking forward to develop cost-effective and advanced products as compared to their competitors.
Rising threat of global terrorism along with geopolitical feuds among major economies is the primary driver for the ammunition market.
Russia ammunition industry will generate considerable revenue over the next few years, as it is a prominent arms producer. To anticipate the status of the ammunition procurements by different countries, number of their military personnel, and their defense spending; technological advancements in ammunition; and joint developments undertaken by leading players to analyze the degree of competition in the market Available Customizations: Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies.
Growing application of small caliber ammo for law enforcement civil and defense purposes is expected to drive the industry growth over the forecast time period. Defense and civil sectors are the two prominent application areas of ammunition market. Mortar ammunition market will exhibit an annual growth rate of around 3.
The rising demand is caused by the increase in the defense budget of emerging economies across the region and rising conflicts amongst neighboring nations.
Primary Research: Extensive primary research was carried out after acquiring knowledge about the current scenario of the ammunition market through secondary research. Taking into consideration the products, ammunition industry is segmented into artillery, medium caliber, mortar, large caliber, and small caliber.
Small caliber ammo is predicted to record notable growth rate over the coming eight years.