Small Caliber Ammunition Market Opportunities, Top Manufacture, Growth, Share Report by 2027
As per the report findings, the global market value stood at USD 8,140.0 million in 2019. The salient highlights of the report include:
- Broad overview of the industry outlook and trends;
- Granular examination of all market segments;
- Actionable research into the factors driving and restraining the market; and
- Detailed evaluation of the regional developments and competitive landscape of the market.
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Restraining Factor
Restrictive Gun Laws in Different Countries May Inhibit Market Growth
Gun ownership laws have evolved over the past several decades across countries, becoming more restrictive with growing instances of gun violence. For example, gun laws have grabbed attention in the US owing to the recent instances of mass shootings in the country. The right to possess firearms is constitutionally protected in the US under the Second Amendment, but misuse of this right has forced the US Supreme Court to impose prohibitions on gun ownership and usage. Similarly, Canada has strict gun laws, prohibiting the possession of automatic weapons and restricting the purchase of handguns and semiautomatic shotguns or rifles. In Australia, the National Agreement on Firearms instituted licensing and registration requirements for owning firearms. These laws are likely to limit the small caliber ammunition market growth as the increasing stringency of gun regulations in many countries will inevitably inhibit the adoption of any sort of ammunition.
Regional Insights
High Demand for Firearms in the US to Propel the North America Market
At USD 4,412.9 million, North America dominated the small caliber ammunition market share in 2019 and the region is expected to hold its leading position in the global market during the forecast period. The main reason for the region’s dominance is the easy accessibility to firearms in the US, which is fueling the demand for small ammunition in the country. Furthermore, the region is home to some of the largest defense organizations such as General Dynamics and Olin Corporation that are constantly developing and introducing advanced guns and ammos in the US market.
In Asia Pacific, the primary growth driver is the increasing intensity of cross-border tensions between major military spenders such as India and China. Meanwhile, in Europe the demand for small ammunitions is being driven by the rising investments in defense technologies by private companies in the region.
Competitive Landscape
Contractual Partnerships between Key Players and Defense Agencies to Spur Competition
Leading companies are singularly focused on securing contracts from governmental defense agencies to strengthen their hold on the market. These contracts are also enhancing the innovation capacities of the key market players, which in turn are allowing them to diversify their products and expand globally.
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Industry Developments:
- June 2020: Thales Group inked a 10-year-long Strategic Domestic Munitions Manufacturing contract with the Government of Australia of an estimated value of USD 686.7 million to supply munitions and small arms to the Australian Defense Force.
- June 2020: Winchester Ammunition bagged a USD 38 million contract from the US Department of Defense (DoD) to deliver frangible 9mm ammunition for indoor and outdoor close-quarter battle (CQB) training.
List of Key Companies Profiled in the Small Caliber Ammunition Market Report:
- Vista Outdoor, Inc. (The U.S.)
- Remington Arms Company, LLC. (The U.S.)
- Olin Corporation (The U.S.)
- Nammo AS (Norway)
- Denel SOC Ltd (South Africa)
- Aguila Ammunition (Mexico)
- Sellier & Ballot (Czech Republic)
- RAUG Group (Switzerland)
- Northrop Grumman Corporation (The U.S.)
- General Dynamics Corporation (The U.S.)
- BAE Systems (The U.K)
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