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Small Caliber Ammunition Market1
Small caliber ammunition refers to cartridges designed for firearms with a bore diameter of less than 0.50 inches (12.7 mm).
PORTLAND, OR, UNITED STATES, May 24, 2023 /einpresswire.com / -- Small caliber ammunition refers to cartridges designed for firearms with a bore diameter of less than 0.50 inches (12.7 mm). This includes popular cartridges such as the .22 Long Rifle, 9mm, and .223 Remington. Small caliber ammunition is commonly used for target shooting, hunting, and self-defense. According to data from the Small Arms Survey, a research project based at the Graduate Institute of International and Development Studies in Geneva, Switzerland, there are approximately 12.3 billion small caliber cartridges are in circulation worldwide. This accounts for roughly 75% of all ammunition in circulation globally. The U.S. is the largest producer of small caliber ammunition, with an estimated production of 8.4 billion cartridges annually. Other major producers include Russia, Brazil, and China.
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In terms of usage, small caliber ammunition is most used for target shooting and hunting. According to the National Shooting Sports Foundation, target shooting accounts for approximately 50% of all small caliber ammunition use in the United States, while hunting accounts for roughly 30%. The remaining 20% is used for self-defense, law enforcement, and military purposes.
According to a recent report published by Allied Market Research, titled,“small caliber ammunition market by Size, Application, and Casing: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the global small caliber ammunition market was valued at $ 10,779.2 million in 2021, and is estimated to reach $14,190.6 million by 2031, registering a CAGR of 2.8% from 2022 to 2031.
The COVID-19 pandemic had a significant impact on the global small caliber ammunition market. This is owing to disruptions in the supply chain, production, and distribution of small caliber ammunition, resulting in a reduced demand for small caliber ammunition products.
The closure of shooting ranges and hunting grounds, and restrictions on international trade also led to the reduced demand for small caliber ammunition products during the pandemic.
The military and law enforcement sectors continued to drive the demand for small caliber ammunition during the pandemic. On the other hand, the demand from the civilians came down because of the closure of shooting ranges and hunting grounds.
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By size, the small caliber ammunition market is categorized as 5.56mm, 7.62mm, 9mm, .50 caliber, and shotshells. Among these segments 7.62mm segment captured the significant market share as compared to other segments owing to the higher use of this ammunitions by civilians and armed forces of countries. Furthermore, the development of advanced 7.62mm ammunition is another trend in the segment. For instance, in 2019, a major ammunition manufacturer announced the development of a new 7.62mm round that was designed to increase accuracy and consistency at longer ranges. The development of advanced 7.62mm ammunition offers opportunities for market players to differentiate their products and capture market share.
By application, the small caliber ammunition market is categorized as military, civilians, and law enforcement agencies. The civilians segment dominated in the global market segment due to the rising concerns regarding personal safety which increases the demand for small caliber ammunitions. For instance, in the U.S., the civilian application for small caliber ammunition is highly fragmented, with many small and large manufacturers catering to the demand for ammunition. The demand for small caliber ammunition in the civilian segment is driven by the need for reliable, affordable, and accurate ammunition for recreational shooting and personal protection.
KEY FINDINGS OF THE STUDY
By size, the 7.62mm segment is expected to lead the market during the forecast period.
By application, the law enforcement agency is anticipated to lead the market during the forecast period.
By casing, the brass segment is expected to grow at a lucrative small caliber ammunition industry growth rate during the forecast period (2022-2031).
Europe is anticipated to exhibit the highest CAGR during the forecast period.
The key market players in the small caliber ammunition market are Northrop Grumman Corporation, General Dynamics Corporation, Nammo AS, CBC Global Ammunition, Olin Corporation, BAE Systems Plc, FN Herstal, Vista Outdoor Inc., Poongsan Corporation, and DSG Technology AS.
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