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Small Caliber Ammunition market Size, Share
By application, the law enforcement agency is anticipated to lead the market during the forecast period.
WILMINGTON, DE, UNITED STATES, November 8, 2024 /EINPresswire / -- 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.
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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.
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.
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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.
By casing type, the small caliber ammunition market 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.
The North America region is analyzed across U.S., Canada, and Mexico. The North America small caliber ammunition market is projected to experience steady growth in the forecast period due to the increasing demand for small caliber ammunition from the military and law enforcement agencies. The rise in trend of recreational shooting and hunting among civilians also contributes to the growth of the market. The U.S. is the largest consumer of small caliber ammunition in North America due to its large military budget and the popularity of recreational shooting and hunting. The presence of major ammunition manufacturers such as Olin Corporation, Winchester Ammunition, and Federal Premium Ammunition also contributes to the growth of the market in the region. Furthermore, the U.S. is a major exporter of small caliber ammunition to other countries. In 2020, the U.S. exported approximately 2.2 billion cartridges of small caliber ammunition, making it the largest small caliber ammunition exporter in the world. Similarly, in February 2021, NATO made a standardized agreement of FN-designed 5.7x28mm caliber and recognized the cartridge under its standardized small caliber ammunition portfolio. Moreover, in Janary 2023, Remington Ammunition, a Vista Outdoor brand, announced the introduction of a revolutionary new cartridge, 360 Buckhammer. A Straight Up Better straight wall cartridge, 360 Buckhammer is optimized for lever-action rifles, deadly and accurate out to 200-yards or more.
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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 growth rate during the forecast period (2022-2031).
Europe is anticipated to exhibit the highest CAGR during the forecast period.
Market Key Players
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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David Correa
Allied Market Research
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