North America Ammunition Market: By Key Players, Deployment Type, Applications, Vertical, and Forecast: 2022-2031

Japan, Japan, Thu, 31 Mar 2022 04:21:08 / Comserve Inc. / -- The North American ammunition market is anticipated to register a CAGR of over 4% during the forecast period.

The North American ammunition market is anticipated to register a CAGR of over 4% during the forecast period.

- The rapid growth in military spending, with the increase in procurement of advanced land, sea, and air vehicles, and the development in technologically advanced systems are expected to drive the market during the forecast period.
- Also, the increasing investments in R&D for military modernization plans, for the procurement of the latest equipment to replace the existing ammunition assets, is one of the major factors driving the market.

Request To Download Sample of This Strategic Report: https://www.sdki.jp/sample-request-88052

Key Market Trends

Military Segment to Dominate the Market

The military segment currently dominates the market, and it is expected to continue its domination, in terms of market share, over the forecast period. This can be attributed mainly to the increase in the procurement of ammunition by the armed forces, local enforcement agencies, and border security forces to subdue the threats arising due to terrorism, territorial conflicts, and geopolitical tensions. The countries in this region are procuring ammunition systems to protect their borders, which is generating demand in the market. For instance, in March 2020, the US Army purchased additional advanced BONUS munitions manufactured by BAE Systems PLC and Nexter Group. BONUS is a 155 millimeter munition designed for destroying armored targets, and it will be employed by the Army's fleet of M109 self-propelled howitzers and M777 ultra-lightweight towed howitzers. The US Army purchased BONUS through the NATO Support and Procurement Agency (NSPA), which provides effective and cost-efficient multinational solutions to the alliance. Additionally, in March 2020, BAE Systems PLC was awarded a contract of USD 339 million by the US Army for the modification of 48 vehicle sets of M109A7 Self-propelled Howitzer (SPH) and their companion, the M992A3 Carrier, Ammunition, Tracked (CAT) vehicle, and it includes post-delivery support and spare parts. The program offers enhanced indirect-fire artillery capabilities to the Army's Armored Brigade Combat Teams (ABCTs) with new technologies for power generation and survivability. The procurement of such vehicles is expected to bolster the demand for associated ammunition for the integrated weapon systems.

Increased Procurement is Driving the Market Share of the United States

The ammunition market in the US is expected to continue its growth at a constant rate during the forecast period, primarily due to the massive military spending in this region. Also, newer technological developments are being carried out by the US Army to re-supply the pinned down troops with ammunition, during a firefight. Currently, the US Army is making use of a GPS guided mortar shell, known as Ammunition Resupply Projectile (ARP), which possesses the capability of resupplying 5.56 mm rounds to the troops during a firefight, by making use of parasails during the landing process. The advancements in technology in ammunitions are driving the market in the US. For instance, in November 2019, BAE Systems PLC was awarded research and development funding by the US Army to create an advanced radar jamming technology that will improve air survivability and mission effectiveness for US Army's rotary-wing aircraft and unmanned aerial systems. Additionally, in December 2019, BAE Systems PLC received a contract of USD 249 million from the US Army for the modification of 60 M109A7 self-propelled howitzers that will bring improved artillery capabilities to the Army's ABCTs. Such developments are anticipated to drive the North American ammunition market during the forecast period.

Click Here to Download Sample Report: https://www.sdki.jp/sample-request-88052​​​​​​​

Competitive Landscape

The prominent players of the market are BAE Systems PLC, General Dynamics Corporation, Northrop Grumman Corporation, Rheinmetall AG, and Nexter Group KNDS. The increasing need for arms and ammunition is strengthening their local and government-owned ammunition companies. Companies are currently focusing on the design and manufacture of more lethal ammunition to increase their market shares. Rheinmetall AG is one of the major players in the market that is providing artillery ammunition through multiple joint ventures in various regions. For instance, in June 2019, the UK Competition and Markets Authority (CMA) approved the military vehicle joint venture between Rheinmetall Defense and BAE Systems PLC. Also, in September 2019, BAE Systems PLC and Marshall Aerospace and Defense Group signed an agreement to collaborate on advanced technologies for various next-generation air platforms. Additionally, in March 2020, Rheinmetall AG (NIOA) munitions announced that its plans to produce and export medium-caliber ammunition for the US Joint Strike Fighter (JSF) program. Countries in this region are supporting local manufacturing companies to facilitate the needs of their respective armed forces and law enforcement agencies, thereby, helping the local companies to have a significant share in the market.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Hina Miyazu

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790

The post North America Ammunition Market: By Key Players, Deployment Type, Applications, Vertical, and Forecast: 2022-2031 appeared first on Comserveonline.

Posted In: