According to a market report, published by Sheer Analytics and Insights, The global arms and ammunition market was valued at $60.9 billion in 2021 and it is expected to reach $240.2 billion at a CAGR of 11.7% between 2022 and 2032. The modernization of armed forces, the militarization of police forces, the rise of terrorist attacks and drug trafficking, and the changing character of combat are all contributing reasons to the expansion of the ammunition market. Additionally, it is anticipated that the number of rounds would increase during the projected period due to the Indian Army's increased procurement of artillery and mortar platforms over the next 10 years through a variety of development platforms. Many nations have decided to reduce their overall defense budgets. Defense departments are concentrating more on areas that are important to preserving national security, according to industry analysts, while expenditures for research and non-critical areas are expected to temporarily be reduced. Contrary to Latin America and Africa, nations like the US, China, and other nations in Europe have boosted their planned defense spending throughout this period.
Market expansion is anticipated as a result of technological advancements that will allow brass-based bullet casings to be replaced with polymer-based bullet cases. Leading militaries and armed forces are accumulating more ammunition as a result of rising geopolitical challenges, warlike conditions, and rising terrorist activity worldwide. Given that the ammo is bought in bulk at a discount, this technique should result in cost savings. This is expected to assist market expansion in the anticipated time frame. Moreover, increasing numbers of armed international and interstate wars have prompted some nations to strengthen their armed forces by acquiring cutting-edge weapons and technology. Most growing economies in the globe, including Russia, China, Turkey, India, and Saudi Arabia, are currently undergoing modernization. As a result, over the past few years, defense spending for ammunition procurement and R&D operations has dramatically expanded throughout the world.
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Furthermore, countries including the US, Russia, China, and India have been expanding the number of troops posted across their respective partners' borders as well as their national borders. To secure their protection, weapons have been quickly acquired as a result of the increased troop deployment. The threat to ground infantry personnel is posed by the development of unmanned aircraft systems, cruise missiles, and long-range rockets. The US Army has therefore begun reactivating units to this core skill and given short-range air defense priority.
On the other side, several factors could restrain the market growth. For instance, Different governments have different laws and regulations governing who is allowed to acquire weapons and ammunition. Because of the strict government regulations and lengthy certification procedures, small weapons and ammunition Original Equipment Manufacturers have difficulties. Additionally, these severe gun regulations have an effect on international contracts and procurement procedures for important parties. Small-caliber ammunition commerce is tightly regulated by several regulatory entities, including homeland security and law enforcement. Therefore, this would also hurt the market later on.
Some new developments in the global arms and ammunition market:
- On 14th November, 2022, Tajikistan now has a UAV factory opened by Iran. The entire Middle East and Central Asia are under danger due to the rapidly growing drone industry.
- On 16th November, 2022, Northrop Grumman supports the productive Artemis I take off with the biggest and strongest rocket boosters in the world. This is the first of several Artemis missions that will explore deep space and work to build a long-term human presence on and near the moon.
- On 17th May, 2022, the introduction of a brand-new 9X19MM pistol was announced by FN Herstal.
According to the study, key players dominating the global arms and ammunition market are BAE Systems (U.K), CCI (India), Denel SOC (South Africa), Defense Command (Denmark), Elbit Systems (Israel), General Dynamics Corp (U.S), Giat Industries (France), Global Ordnance (U.S), Hanwha Group (South Korea), Magtech Company (India), Northtrob Grumman (U.S), Ruag Ammotec (Germany), Timasek Holdings (Singapore), Vista Outdoor (U.S), among others.
The Global Arms and Ammunition Market Has Been Segmented Into:
The Global Arms and Ammunition Market – by Product Type:
- Bullets
- Ariel Bombs
- Grenades
- Artillery Shells
- Mortals
- Others
The Global Arms and Ammunition Market – by End-User Type:
- Civil and Commercial
- Defense
- Other
The Global Arms and Ammunition Market – by Regions:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
- LAMEA
- Middle East
- Saudi Arabia
- UAE
- Others
- Latin America
- Brazil
- Chile
- Others
- Africa
- South Africa
- Egypt
- Other
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/arms-and-ammunition-market-21
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