PALM BEACH, Fla., Feb. 8, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Firearms and ammo sales have increased drastically in the U.S. First-time gun owners felt insecure due to COVID-19. Thus there is a surge in gun buying due to COVID-19, while frequent users thought that there would be strict rules from the U.S. government on gun and ammunition purchases. Lucky Gunner spokesperson said that the sales of 9mm ammunition increased by 500 percent. While .223 and 5.56—rounds used in the AR-15 and other semiautomatic rifles are up by 900 percent. Nowadays, the 9mm cartridge is gaining more popularity as compared to the other calibers. The adoption of a 9mm caliber is due to its versatile performance and the advancements in technology. The latter has improved its performance. The main advantage of the 9mm round's design is its reduced recoil that provides a tactical advantage. Reduced recoil enables faster target reacquisition that helps in creating more accurate and faster follow-up shots. Furthermore, it is cost-efficient and popular among frequent shooters. A report from Fortune Business Insights said that: "Ammunition is mostly used in handguns, shotguns, and rifles with different calibers. Increasing procurement of small caliber ammo by civilians for personal safety and the growing number of shooting ranges would drive the growth of the market. Increasing terrorist activities and mass shooting incidence are leading to increased personal safety, which, in turn, is creating demand for handguns. Expansion of the shooting ranges industry due to fears of terrorism increased fears over stricter gun control laws, and political rhetoric would propel the growth of the market." Active companies in the markets today include: AMMO, Inc. POWW, General Dynamics GD, The Northrop Grumman Corporation NOC, Lockheed Martin LMT, Raytheon Technologies Corporation RTX.
Fortune Business Insights continued: "The ammunition market has been segmented into North America, Europe, Asia Pacific, The Middle East, and the rest of the world. North America is estimated to be the largest market during the forecast period. This growth is attributed to the increasing expenditure on research & development and the procurement of advanced ammunition from the U.S. army. Due to COVID-19, there is increasing insecurity among people that would lead to a surge in the sales of ammo and guns in the U.S. Asia-Pacific will showcase significant growth in the market during the forecast period. The growth is attributed to the expansion of military forces in countries such as China, India, South Korea, and others. Furthermore, the increasing defense expenditure and military modernization programs in countries such as India, Japan, and China would drive the growth of the market across the region."
AMMO, Inc. POWW – BREAKING NEWS - Ammo Inc. Board Approves up to $30 Million Dollar Repurchase Authorization - AMMO, Inc. ("AMMO" or the "Company"), a leading vertically integrated producer of high-performance ammunition and components and operator of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, today announced that its Board of Directors authorized a share repurchase program for up to $30 million dollars of its outstanding common stock.
"The repurchase authorization of up to $30 million of stock represents our commitment to increasing shareholder value and gives us flexibility to deploy some of our cash flow into our future," said Fred Wagenhals, CEO of Ammo Inc. "With a strong balance sheet, positive cash flow and growing revenues, we believe it is appropriate to have the option to repurchase stock if it makes sense as the best investment at that time."
Purchases made pursuant to the program will be made from time to time, at the company's discretion, in the open market, through privately negotiated transactions or through other manners as permitted by federal securities laws. The timing, manner, price and amount of any repurchases will be determined by the company and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The program is expected to commence following the public disclosure of the Company's 2022 3rd quarter financial results and filing of its report on Form 10-Q and may be suspended or discontinued at any time. CONTINUED… READ THIS AND MORE NEWS FOR AMMO BY VISITING: https://ammoinc.com/media/
In other outdoors recent news of interest:
General Dynamics Information Technology (GDIT), a business unit of General Dynamics GD, recently announced that it has received a $518 million task order award from the U.S. Army Communications Electronics Command (CECOM) to provide logistics, sustainment and maintenance services for joint U.S. and coalition forces worldwide within the Army Field Support Brigade (AFSB) regions.
The task order was provided under the Responsive Strategic Sourcing for Services Multiple Award indefinite delivery, indefinite quantity contract awarded in April 2021 to a General Dynamics joint venture including GDIT, General Dynamics Mission Systems, General Dynamics Ordnance and Tactical Systems and General Dynamics Land Systems. The Government Accountability Office (GAO) announced in December that work could start following the dismissal of two contract award protests.
The Northrop Grumman Corporation NOC and Raytheon Technologies Next Generation Interceptor (NGI) team has recently completed its System Requirements Review (SRR) and is proceeding with initial system design, further risk reduction testing, and critical component qualification activities.
The Missile Defense Agency (MDA) approved the SRR, which was completed ahead of schedule, and is the first major technical review for the Northrop Grumman and Raytheon Technologies NGI homeland defense interceptor program. This achievement comes after Northrop Grumman and Raytheon Technologies demonstrated its NGI Common Software Factory, which enables rapid development, integration and delivery in a DevSecOps environment.
"We're leveraging our two decades of performance on the current Ground-Based Interceptor (GBI)," said Scott Lehr, vice president and general manager, launch and missile defense systems, Northrop Grumman. "With our combined workforce, extensive expertise and state-of-the-art facilities, we will deliver a highly capable new interceptor that will protect our nation against long-range missile threats for decades to come."
Lockheed Martin LMT recently announced that it has completed another successful year as the F-35 program continued to expand its global footprint and enhance operational capabilities.
In 2021, two new countries – Switzerland and Finland – selected the F-35 for their new fighter jet programs. Additionally, Denmark received its first F-35 and the Royal Netherlands Air Force became the ninth nation to declare their F-35 fleet ready for Initial Operational Capability. The F-35's operational capabilities continued to advance and further demonstrated its value as the most advanced node in the 21st century battlespace. Last year alone, the F-35 successfully participated in a series of flight tests and exercises, including Project Hydra, Northern Edge, Orange Flag, Talisman Sabre and Flight Test-6.
Raytheon Technologies Corporation RTX recently reported fourth quarter 2021 results and announced its 2022 outlook. "We closed the year on a strong note with full year adjusted EPS and free cash flow significantly exceeding the outlook we set a year ago," said Raytheon Technologies Chairman and CEO Greg Hayes. "We also exceeded our cost synergy target for the year, delivered margin expansion across our businesses and returned $5.3 billion of capital to shareowners including the repurchase of $2.3 billionof RTX shares, demonstrating strong execution against our strategy and operational initiatives in 2021."
"Raytheon Technologies is entering 2022 with continued momentum and resilience. The long-term outlook for our commercial aerospace and defense markets remains strong. Our focused A&D portfolio and intense focus on program execution position us well to deliver sales, earnings and free cash flow growth, as well as margin expansion across all businesses in 2022."
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