Small Caliber Ammunition Market: Global Size, Opportunities, Historical Analysis, Development Status, Business Growth and Forecast: 2022-2031

Japan, Japan, Thu, 07 Apr 2022 06:23:51 / Comserve Inc. / -- The small caliber ammunition market is anticipated to register a CAGR of over 3% during the forecast period.

The small caliber ammunition market is anticipated to register a CAGR of over 3% during the forecast period.

- The increasing terrorist activities in the Middle-East and African countries, like Iraq, Nigeria, Syria, and Somalia, and also recent attacks on Sri Lanka and New Zealand are propelling the local government agencies, police, and military to procure small caliber ammunition.
- Increasing investments in defense for military modernization programs for the procurement of better equipment to replace its existing arsenal is also acting as one of the key market drivers of the small caliber ammunition market.
- The stringent laws on gun ownership are acting as a key restrain for the growth of the small caliber ammunition market during the forecast period.

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Key Market Trends

The Military Segment Accounted for a Major Market Share in 2018

The military segment currently dominates the market studied, and it is expected to continue its domination, in terms of market share, over the forecast period. This is due to the increase in 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. For instance, to modernize their infantry, the Defense Ministry of India placed an order for 72,400 assault rifles to the US firm Sig Sauer of worth USD 100 million. This order was placed in February 2019 to replace the INSAS rifles. Such procurements are expected to generate demand for small caliber ammunition during the forecast period.

The Asia-Pacific Region is Expected to Experience the Highest Growth During the Forecast Period

The Asia-Pacific region currently has the highest market share and is anticipated to have the highest growth during the forecast period. The current political tensions between countries, like China, India, Japan, and Pakistan, along with the shortage of military personnel in Japan and India, are some of the major drivers that propelling the growth of the small caliber ammunition market over the forecast period. For instance, as of July 2018, Indian Army had a shortage of over 7,000 officers and Indian Air Force had a shortage of approximately 200 officers; as of October 2018, Indian Navy had a shortage of about 1,500 officers. The plans to recruit new military personnel may generate demand for arms and ammunition, which in turn, may generate demand in the small caliber ammunition market during the forecast period.

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Competitive Landscape

The small caliber ammunition market is moderately fragmented, due to the presence of several players. Some of the prominent players in the small caliber ammunition market are Northrop Grumman Corporation, General Dynamics Corporation, BAE Systems plc, RUAG Group, and Winchester Ammunition (Olin Corporation). However, the growing indigenous manufacturing of ammunition in various countries, like Saudi Arabia, Turkey, India, China, and Russia, among others is helping the local players to take significant share in the market over the forecast period. Rostec, a Russia-based defense company, announced that it may begin the serial production of NATO caliber rounds of ammunition in 2022. Such increasing manufacturing capabilities of local players are expected to increase their market share.

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