Small Caliber Ammunition Market
Report ID: SQSG20A2021
Report ID:
SQSG20A2021 |
Region:
Global |
Published Date: July, 2036
Pages:
157
|Tables:
76
|Figures:
75
Small Caliber Ammunition Market size was valued at USD 10.8 billion in 2019 and is poised to grow from USD 11.08 billion in 2023 to USD 13.82 billion by 2031, growing at a CAGR of 2.8% in the forecast period (2024-2031).
Consistent demand for ammunition from the defense & military is one of the key factors fueling the growth of the global caliber ammunition market. The demand for small-caliber ammunition is increasing as various countries increase their spending to strengthen their armed forces. Additionally, the increase in the global demand for highly sophisticated, small caliber ammunition is being driven by the increase in the defense budget. For instance, with more than USD30 million in munitions orders signed to the United States, New Zealand, Canada, Asia, and Europe in 2019, Thales' Australian Munitions business experienced its highest traffic year for munitions export orders to date. Additionally, government organizations place a strong emphasis on replacing outdated infantry items with newer military gear and upgrading the latter. Therefore, it is anticipated that an increase in military spending by various countries around the world will spur growth in the small caliber market during the anticipated period.
Personal safety due to terrorists has resulted in people finding a need to keep a personal small caliber pistol. For instance, despite an increase in terrorist attacks, the impact of terrorism is declining, according to the 2022 Global Terrorism Index (GTI). Terrorist deaths decreased by 1.2 % to 7,142 in 2019, while terrorist attacks increased by 17 %, showing that terrorism is becoming less frequent. The best result since 2007 was achieved by two-thirds of the nations, and 86 of those nations saw improvements in their GTI scores.
Additionally, the market is seeing potential growth from the import and export of handguns, which is driving up demand for ammunition with a small caliber. The use of small-caliber ammunition is also encouraged by the rise in training programs and shooting competitions. During the anticipated period, these factors are anticipated to accelerate market growth.
US Small Caliber Ammunition Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global small caliber ammunition market is segmented based on the caliber, application, and region. Based on the caliber, the global small caliber ammunition market is segmented as 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*39/54mm, 30-06 Springfield, and others. Based on application, the global small caliber ammunition market is segmented as military, homeland security, and law enforcement organizations. Based on region Small Caliber Ammunition Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Small Caliber Ammunition Market Analysis by Caliber
Based on the caliber, the small caliber ammunition market is bifurcated 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*39/54mm, 30-06 Springfield, and others. Due to the growing popularity of caliber in both handguns and rifles around the world, the 22LR caliber segment will continue to hold the largest market share for small-caliber ammunition during the forecast period. The segmental growth will be further fueled by the expanding commercial and military use of handguns and rifles. Thanks to its wide variety of cartridges available in the 7.62 mm segment and the forecast period's higher CAGR, this segment is anticipated to grow at the fastest rate. Long-range small arms like medium machine guns, handguns, and shorter-range sniper rifles all use the 7.62mm caliber. There are two different 7.62mm ammunition configurations: 7.62x51mm and 7.62x39mm. While the 7.62x39mm is primarily a Russian configuration, the 7.62x51mm is primarily an American configuration. The need for both configurations among the defense and homeland security forces is enormous. The handgun cartridge most frequently used in the United States is the 9mm Luger segment. Handguns are frequently used for self-defense, sporting activities, and hunting. The 9mm Luger caliber is expected to see increased demand due to the rising demand for pistols for a variety of purposes.
Small Caliber Ammunition Market Analysis by Application
Based on application, the small caliber ammunition market is divided into military, homeland security, and law enforcement organizations. Among these the military segment is expected to grow at a faster pace. Small caliber ammunition is becoming more and more in demand for military modernization projects, and more and more nations around the world are spending more on defense. During the forecast period, a sizable CAGR is predicted for the commercial segment. It is a result of the increased demand for small-caliber ammunition for sporting and hunting purposes in North America. Growing personal security concerns and the prevalence of several shooting ranges are driving the market's expansion. The US has highlighted the rise in gun and ammo purchases because of personal safety concerns to 8.4 million first-time gun buyer registrations amidst the current COVID 19 pandemic. In order to acquire cutting-edge weapon systems including handguns, rifles, and shotguns, numerous law enforcement and military organizations throughout the world have made considerable investments in the sector. Law enforcement organisations were established as a result of the increasing number of crimes and abuses of human rights around the world.
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Asia Pacific is expected to dominate the small caliber ammunition market share. This demand is predicated on the fact that these nations have the largest ammunition imports. According to Stockholm International Peace Research Institute (SIPRI), the five largest arms exporters in 2017–21 were the United States, Russia, France, China and Germany. The five largest arms importers were India, Saudi Arabia, Egypt, Australia and China. Between 2012–16 and 2017–21 there were increases in arms transfers to Europe 19% and to the Middle East 2.8%, while there were decreases in the transfers to the North America –36%, Africa –34%, and Asia –4.7%.
Followed by Europe and North America have shown significant growth over the forecast period. Government policies in Europe include those governing the ownership of firearms, the availability of firearms on a single market, and a protocol prohibiting the production and trafficking of firearms. The Middle Eastern and Syrian refugee crises have also presented difficulties for the European defense system. The threat of terrorism has also been present in Europe, and as a result, the market for ammunition in Europe is anticipated to grow during the forecast period. North America is driven by the US's strong demand for new ammunition assets to replace the outdated ones as well as the growing amount of money being invested in research and development. The demand for small caliber ammunition is expected to increase during the forecast period as a result of rising defense spending in the region and the US Department of Defense's long-term competitive strategy for developing cutting-edge technologies and new concepts of warfare. The demand and supply of small caliber ammunition in the region are also influenced by the substantial presence of several well-known companies that operate in the North American small caliber ammunition market, such as Northrop Grumman Corporation and General Dynamics Corporation.
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Small Caliber Ammunition Market Driver
Small Caliber Ammunition Market Restraint
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Global small caliber ammunition market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Small Caliber Ammunition Market
Small Caliber Ammunition Market Recent Developments
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According to our global small caliber ammunition market analysis, in terms of Caliber, the 22LR caliber segment will continue to hold the largest market share for small-caliber ammunition during the forecast period. In terms of distribution channel, the military segment is expected to grow at a faster pace. Small caliber ammunition is becoming more and more in demand for military modernization projects, and more and more nations around the world are spending more on defense.
Report Metric | Details |
---|---|
Market size value in 2019 | USD 10.8 billion |
Market size value in 2031 | USD 13.82 billion |
Growth Rate | 2.8% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
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Market overview
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Market Size by Region
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For the Small Caliber Ammunition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Small Caliber Ammunition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Small Caliber Ammunition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Small Caliber Ammunition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQSG20A2021
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