The global small caliber ammunition market size was USD 7.90 billion in 2021. The market is projected to grow from USD 8.00 billion in 2022 to USD 9.41 billion in 2029 at a CAGR of 2.35% in the 2022-2029 period. This information is provided by Fortune Business Insights, in its report titled, “Small Caliber Ammunition Market, 2022-2029.”
COVID-19 Pandemic Positively Impacted Market due to Insecurity among Population
The crisis of COVID-19 pandemic has averagely influenced the defense and commercial ammunition industry, but the market research has demonstrated moderate growth in 2020 & 2021 and is predicted to bolster during the forecast period. During COVID-19 period, the National Shooting Sports Foundation (NSSF) anticipated that in the initial quarter of 2020, 40% of the firearms were bought by the first-time purchasers. This encouraged the demand and sales for ammunitions, thus fostering the market growth of small caliber ammunition.
Get Sample PDF Brochure:
List of Key Players Mentioned in the Report:
- Aguila Ammunition (Mexico)
- BAE Systems (U.K.)
- Denel SOC Ltd (South Africa)
- General Dynamics Corporation (U.S.)
- Nammo AS (Norway)
- Northrop Grumman Corporation (U.S.)
- Olin Corporation (U.S.)
- RAUG Group (Switzerland)
- Remington Arms Company LLC (U.S.)
- Sellier & Ballot (Czech Republic)
- Vista Outdoor, Inc. (U.S.)
- Elbit Systems Ltd. (Israel)
- KNDS N.V. (France)
- Thales Group (France)
5.56*45 and 7.62*39/54r Caliber Segment to Gather Traction
Based on caliber, the market is segmented into 223 Remington, 308 Winchester, 9mm Luger, 45 auto/ACP, 380 ACP, 357 Magnum, 10 Gauge, 12 Gauge, 40 S&W, 20 Gauge, 22LR, 50 BMG, 6.5 Grendel, 7.62*39/54r, 5.56*45, 0.338 Lapua, 30-06 Springfield, and others. Among these, the 22LR caliber segment holds the highest share in the market during the forecast period, owing to the increasing use of caliber in handguns as well as rifles worldwide.
Huge Embracement of Handguns and Rifles in Military and Homeland Security Operations to Fuel Growth
Based on application, the market is classified into commercial and military & homeland security. The commercial segment is further grouped into shooting sports & hunting and self-defense.
Ask for Customization:
Growing Demand for Bullets for Hunting and Sports Shooting to Nurture Growth
By bullet type, the market is classified into lead, copper, brass, and others. The copper bullet segment is predicted to display notable growth owing to the massively constant performance and lightweight aspects of copper bullets.
The market has been segmented into North America, Europe, Asia Pacific, and rest of the world.
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market of small caliber ammunition. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
Inquire Before Buying This Report:
Drivers and Restraints:
Rising Utilization of Guns for Personal Security to Boost Market Growth
Small caliber ammunition is primarily utilized for civilian uses such as sports shooting, hunting, personal safety, and others. Rising occurrences of mass shootings, particularly in the U.S. and Australia, rising terrorism activities, and growing demand from defense forces are fueling the market growth. Additionally, an escalation in the production of handguns, shotguns, light machine guns, short range rifles, and large gun imports and exports across the world are also assisting the growth of the market.
However, governmental guidelines and norms concerning the ownership of guns and ammunition vary among nations. Consequently, small arms and ammunition original equipment manufacturers (OEMs) face numerous difficulties posed by the strict government rules and prolonged certification procedures. This may hinder the global small caliber ammunition market growth.
Speak to Our Expert:
North America to Dominate due to Surging Defense Expenditure
North America is predicted to be the dominating region in the market during the forecast period. The region’s dominance is accredited to the escalating defense spending and military modernization programs in the U.S. Armed Forces.
Asia Pacific will observe remarkable growth during 2022-2029. The growth is accredited to the growing number of terrorist activities in Asian nations, rising political conflicts, and surging investments from numerous nations on defense operations and military modernization programs throughout the region.
In Europe, the existence of fundamental and powerful companies will fuel the regional market growth. It held a decent small caliber ammunition market share.
Prime Players Sign Notable Agreements to Make Significant Changes in Market
The players functioning in the market often employ various tactics that will help the market to grow and increase product demand. Among the available strategies, one such remarkable strategy to extend the business opportunity is signing multimillion bonds with government bodies and safeguarding a profitable revenue for their own company.
Key Industry Development:
June 2020: The U.S. Department of Defense (DoD) engaged in a deal with Winchester Ammunition for the delivery of 9mm frangible ammunition. The value of the bond is worth USD 38 million. The ammunition will be utilized for indoor/ outdoor close quarter battle (CQB) training.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]