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Ammunition Market in mortar product segment to witness 3%+ CAGR up to 2025

Author : Ronak Bora | Published Date : 2019-03-29 

Ammunition Market in mortar product segment is expected to witness a gradual growth in the next seven years owing to its surging usage in low firing pressure arms. Small caliber ammo is predicted to record notable growth rate over the coming eight years. The product demand can be attributed to its high demand across civil and military applications, owing to its ease of application and easy availability. Defense applications account for major industry share owing to conventional utilization and demands for new innovations. Need for non-lethal bullets will offer viable growth landscape owing to their application in riot control.

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Civil applications include weapons designed for self-defense, hunting & sports and law enforcement. Defense applications are forecast to grow at 2% CAGR to acquire over 50% of the ammunition market share by 2025. Industry growth across the segment can be credited to increase in recreational activities, increase in disposable income and growing population.

The growing popularity of shooting as an activity in major sports events will enhance the ammunition market share from 2016 to 2025. Positive indicators from various organizations and associations to promote and support shooting sports are the key factors fueling product demand. Rising interest towards hunting & shooting as a recreational and leisure activity contributes to overall consumption, which in turn drive industry demand over the forecast period. The industry has witnessed various training programs that promote and support hunting and shooting without causing any harm to the consumer.

Defense and civil sectors are the two prominent application areas of ammunition market. Defense sector led the application landscape in 2015 and will continue its dominance by occupying more than 50% of the total industry share over the period of 2016 to 2025. Ammunition market size in civil applications will also grow lucratively over the coming timeframe, driven by its high demand in Law enforcement, self-defense, entertainment, and sports activities.

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APAC, led by Japan, China and India accounted over 25% of the overall revenue in the year 2015 owing to greater allotments to defense budgets. The U.S. ammunition market share is expected to witness a fast growth owing to rising demand for firearms, the country consists of several weaponry manufacturers. The Ministry of Defense (MoD), India under its “Make in India” initiative encouraging private sector to manufacture ammunition for defense will drive the regional ammunition market size over the forecast timeframe. Several exhibitions such as ‘Fishing and Hunting’ in Moscow are held regularly to promote fishing, tourism, and hunting activities which in turn drive demand. Ease of availability and usability of next generation equipment will provide solid growth platform over the coming years.

Considering the regional landscape, North America ammunition market is slated to exhibit noticeable growth rate over the coming eight years. U.S. will cover more than 90% of the North America regional share by the end of 2025. The growth can be attributed to its increasing requirement for shooting sports and the defense sector.

The market is highly fragmented in terms of regional manufacturers. Most of the industry giants are looking forward to develop cost-effective and advanced products as compared to their competitors. To multiply the revenue generation, key players are adopting business strategies such as mergers & acquisitions to sustain their market position. Notable participants in ammunition market are General Dynamics Corporation, Nammo AS, Olin Corporation, Remington Arms Company, Inc., Orbital ATK Inc., Federal Premium Ammunition, BAE Systems, Denel PMP, Global Ordnance, RUAG Ammotec, Hornady Manufacturing, Maxam, Poongsan Corporation, and Nexter Systems.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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