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Small Caliber Ammunition Market
Growing terrorist threats, increased gun use for safety reasons, and expansion in military modernization programs drive the small caliber ammunition market.
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, September 4, 2024 /EINPresswire / -- Growing terrorist threats, increased gun use for safety reasons, and expansion in military modernization programs drive the Small Caliber Ammunition
market . However, regulatory restrictions in small caliber ammunition
industry are likely to hinder the market growth during the forecast period. On the other hand, the development of small caliber ammunition and the rising demand for lightweight ammunition will present new growth opportunities for the global market in the coming years.
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The global small caliber ammunition market size was valued at $10.8 billion in 2021, and is projected to reach $14.2 billion by 2031, growing at a CAGR of 2.8% from 2022 to 2031.
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.
The key players profiled in this report include
FN Herstal, BAE Systems plc, Poongsan Corporation, Olin Corporation, Vista Outdoor Inc., CBC Global Ammunition, General Dynamics Corporation, Nammo AS, Northrop Grumman Corporation, DSG Technology AS
By casing type, the small caliber ammunition market size is divided into brass and steel. The brass casing type segment in dominated in the market as brass casing provides a good seal for the bullet and the powder charge, preventing gas leaks, which can impact the accuracy and reliability of the ammunition. For instance, the 5.56x45mm NATO round used by the U.S. military is typically manufactured using brass casing. The brass casing provides consistent performance in different environments and temperatures, making it ideal for military use. Brass casing is widely used in the civilian application for small caliber ammunition.
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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.
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.
Regional Analysis:
Based on region, the market in North America was the largest in 2021, accounting for nearly half of the global small caliber ammunition market share and is likely to maintain its dominance during the forecast timeframe. This is owing to the high spending on military and armed forces in the region. However, the market in Europe is likely to show the fastest CAGR of 4.4% during the forecast period. This is owing to the rise in spending on new armed weapons in the region.
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Based on application, the civilian segment grabbed the highest share of nearly three-fourths of the small caliber ammunition market in 2021 and is expected to dominate the market in 2031. This is owing to the high consumption of small caliber ammunitions by individuals. The law enforcement agencies segment, however, would witness the fastest CAGR of 4.0% from 2022 to 2031. This is due to the establishment of new agencies by governments.
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Based on size, the 7.62mm segment contributed to the largest share of nearly one-third of the global small caliber ammunition market in 2021 and is expected to maintain its dominance during the forecast period. This is owing to the high use of rifles by military and armed forces. The 9 mm segment, however, is projected to witness the fastest CAGR of 3.9% from 2022 to 2031. This is owing to the rising registration of new armed weapons which is expected to raise the demand for 9mm ammunitions during the forecast period.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.