Small Caliber Ammunition Market Size to Reach USD 9.35 Billion in 2028 | Growing Emphasize on Self Defense is a Key Factor Driving Industry Demand, says Emergen Research

Small Caliber Ammunition Market Size to Reach USD 9.35 Billion in 2028 | Growing Emphasize on Self Defense is a Key Factor Driving Industry Demand, says Emergen Research

PR Newswire

VANCOUVER, BC, Dec. 21, 2021

VANCOUVER, BC, Dec. 21, 2021 /PRNewswire/ -- The global small caliber ammunition market size was USD 7.74 Billion in 2020. Rapid increase in civilian conflicts, international disputes, and increased adoption of small caliber weapons and ammunition by military, homeland security, and law enforcement agencies for maintaining law and order are key factors driving market revenue growth.

Emergen Research

Drivers: Increase in military modernization programs in developing countries

Ammunitions plays a decisive role in escalating, prolonging, and intensifying armed conflicts. Countries such as Russia, China, Turkey, and India, among others are spending significant amounts to modernize their respective defense and military sectors. As a result, defense expenditure for procurement of small caliber ammunition and R&D activities has increased significantly over the past few years. These countries are spending significantly on military modernization programs to improve their firepower assets in terms of range, precision, mobility, and lethality.

Advancements in ammunition production technologies such as casting and cold swaging is supporting growth of the small caliber ammunition market. For instance, .300 Blackout (BLK) small caliber bullet has attracted from army special operatives and personnel as it is suitable for special operations such as to counter insurgency, hostage rescue, and mobility operations.

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Restraints: Imposition of economic, legal, and political regulations

Economic and political regulations often impact contracting and procurement processes of ammunition in various countries. Non-compliance with regulations could severely impact operations of major market players, thereby restraining growth of the small caliber ammunition market. Differences in regulations of different countries are driven by numerous legal and political factors. For instance, weapons and ammunition laws in the U.S and in India are different. India has stricter regulations regarding the use and carrying of a weapon and/or ammunition as compared to gun control laws in the U.S.

Growth Projections

The global small caliber ammunition market size is expected to reach USD 9.35 Billion in 2028 and register a revenue CAGR of 2.3% over the forecast period, according to the latest report by Emergen. Increasing defense and military spending, expanding police and security agency troop size, increasing number of female shooters, and increase in number of shooting competitions are some key factors driving revenue growth of the global small caliber ammunition market.

COVID-19 Direct Impact

COVID-19 pandemic continues to negatively impact various aspects and activities in countries across the globe. Several countries have been reporting and dealing with mutations and variants, and some developing countries have been forced to cut defense spending. Due to steep rise in COVID-19 infected, Latin American and African countries have cut respective defense budgets in order to invest more in the healthcare sector. COVID-19 has created shortage of small caliber ammunition worldwide. I Global manufacturing of small caliber ammunition, components, and assembly lines was impacted during the first half of 2020. Rising geopolitical tensions and cross border conflicts between various countries, which includes countries such as India, China, Australia, the U.S, and others, has created an increased demand for small caliber ammunition.

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Current Trends and Innovations

Advancements in technologies and innovations in ammunitions such as green ammunition is boosting demand and driving growth of the small caliber ammunition market. Introduction of advanced and environment friendly small arms ammunition or green ammunition is having major impact on the small caliber ammunition market. Green bullets are made up of nylon and tungsten, and is a better alternative to lead core bullets, and was introduced to reduce environmental contamination of training grounds and firing ranges. The primary objective behind green munitions is to remove volatile organic compounds and heavy metals from primers and projectiles, which eliminates risks of potential health hazards such as those caused by lead bullets.

Geographical Outlook

Market in Asia Pacific contributed significantly in terms of revenue share to the global small caliber ammunition market in 2020 and is expected to register a rapid growth rate over the forecast period. Market in North America accounted for a significantly robust revenue share in 2020 owing to rise in demand for more advanced small caliber ammunition. Growing number of drug cartels in Central America is also supporting revenue growth of the market in the region. Revenue share contribution from the market in China to Asia Pacific is expected to register fastest growth rate during the forecast period.

Strategic Initiatives

In June 2020, the U.S Department of Defense (DoD) signed a contract with Winchester Ammunitions, which is a company engaged in manufacturing of small caliber ammunitions. Under this contract, DoD announced purchase of 9mm small caliber ammunitions worth USD 38 Million from Winchester Ammunitions for close quarter battle, and indoor and outdoor battle training purposes.

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Some Key Highlights from the Report

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Emergen Research has segmented the global small caliber ammunition market on the basis of caliber type, bullet type, gun type, end-use, and region:

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About Emergen Research 

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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