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Global Ammunition Market: mainly propelled by rising expenditure on security of major organization
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Rising threats from terrorist fuels the global ammunition market
Increased spending by government on military ammunition and cross-border disputes are the global ammunition market trends. Moreover, growing popularity of shooting as a sports activity and rising demand for ammunition used for training in the various armed forces also boosts the global ammunition market growth. Though, lead-based ammunition used for hunting and shooting would pose danger to the environment and toxic to wildlife and decreased spending on defense budget by few developed countries could pose challenge for the market. Moreover, green bullets, non-lethal weapons and ammunition, would provide opportunity growth for the market in the upcoming year.
By ammunition market analysis, the market is segmented into type, caliber, application and geography. By type, the market is segmented into full metal jacketed, tracer, incendiary, armor piercing and others. Caliber segment can be bifurcated into small caliber, medium caliber, mortar ammunition, artillery ammunition and shotgun shells. Furthermore, application segment is classified into military, law enforcement and commercial.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
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Full metal jacketed, by type occupied the maximum global ammunition market share in the year 2016
In the year 2016, full metal jacketed segment dominated the type segment with major share with 47.5% and is anticipated to continue its dominance throughout the forecast period 2016 – 2024 owing to its benefits such as high-volume shooter, and the bullets do not expand while firing, followed by tracer with 14.7%, in 2016.
Small caliber, and artillery ammunition segment together, by caliber projected to held the maximum market share throughout the forecast period.
In the caliber segment, small caliber and, artillery ammunition together will attain largest global ammunition market share for 28.3% and 26.3% respectively, throughout the forecast period 2016 – 2024 due to rising demand to improve security measures to protect the assets of organizations, and increased procurement of small caliber ammunition by the defense.
Military, by application is projected the half of share in the global ammunition market over the forecast period
In the year 2016, military segment, by application is anticipated hold the half of share in the global ammunition market owing to terrorist attacks, cross border disputes, and ceasefire violations, among others, followed by law enforcement with 25.3% share.
Asia Pacific expected to witness the fastest CAGR over the forecast period
In the year 2016, Asia-Pacific region is likely to grow with the highest CAGR throughout the forecast period 2016 to 2024 and is expected to continue its trend owing to increasing presence of terrorism, rise in defense budget, and increased participation in sports activities. Moreover, Europe accounts the maximum share of the market with 30.78% followed by North America with 30.5%.
Key market players include Olin Corporation, BAE Systems, General Dynamics Corporation, Fiocchi Munizioni S.p.A., Nammo AS, Maxam, Federal Premium Ammunition, Hornady Manufacturing Company, Inc., Remington Arms Company, Inc., RUAG Holding A.G., Orbital ATK Inc., and Remington Arms Company.
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Scope of Ammunition Market
• Full Metal Jacketed
• Armour Piercing
• Small Caliber
• Medium Caliber
• Mortar Ammunition
• Artillery Ammunition
• Shotgun Shells
• Law Enforcement
• North America
• South Korea
• South America
• Middle East
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