The global military ammunition market is a mature market that has been witnessing the production of an increased number of munitions over the years for various platforms in armed forces such as the navy, air force, and army. The market has experienced a major transformation in the innovation of ammunition by different countries. The military ammunition market has witnessed the development of different product types for military applications. The outbreak of COVID-19 mildly affected the global military ammunition market in 2020 and 2021. The global military ammunition market is expected to witness a substantial growth over the forecast period 2020-2025. The market is expected to see the growth of the missiles mainly due to the increasing procurement for enhancing the offensive and defensive strength of the armed forces. A high demand for military ammunition in emerging countries (such as Asia-Pacific, Middle East, and Africa) is expected to create opportunities for military ammunition players across different platforms, such as navy, land forcers and air force.
According to BIS Research analysis, the global military ammunition market generated $57.89 billion in 2019 and is estimated to grow at a CAGR of 5.40%, during 2020-2025.
Read Report Overview: Military Ammunition Market
The report is a compilation of various segmentations including market breakdown by platform such as navy, air force and land force. The report is based on discussions and interviews with the top management of several leading high throughput satellite operator manufacturers, tier 1 suppliers, and solution providers.
The military ammunition market is not expected to play out the same way for every region, so this report segments the market accordingly and breaks down the industry geographically as follows: North America (the U.S and Canada), Europe (Germany, U.K, France, Italy, Russia, and Rest-of-Europe), Asia-Pacific (China, South Korea, Japan, Australia, India, and Rest-of-Asia-Pacific), Latin America, Middle East & Africa, and others.
Scope of the Military Ammunition Market
The report constitutes an extensive study of the military ammunition market. The report focuses largely on providing market information for military ammunition by covering different segments, platform, product, guidance, and region. In addition to this, the study focuses on the major driving forces, challenges, and growth opportunities for the military ammunition market. The major players have been identified on the basis of their revenue generation, geographical presence, and company developments related to the military ammunition market. Details of company profiles have been included in order to understand the strategic behaviors of the market players. The military ammunition market is further explained and analyzed on the basis of geography, which is categorized into four regions namely: North America, Europe, Asia-Pacific, and Rest-of-the-world. Moreover, the country analysis has also been done in order to have a clear picture of the military ammunition market. Regional developments of the manufacturers and developments done by governments are some of the factors based on which the growth rates of the countries have been calculated.
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Key Companies in the Military Ammunition Market
The key market players in the military ammunition market include BAE Systems, CBC Ammo, Chemring Group PLC, Denel SOC Ltd, Elbit System Ltd., FN HERSTAL, General Dynamics Corporation, EXPAL Systems, Lockheed Martin Corporation, Nammo AS, Nexter KNDS group, Northrop Grumman Corporation, Olin Corporation, Poongsan Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Rosoboronexport, RUAG Group (RUAG Ammotec AG), ST Engineering, Thales Group and Vista Outdoor Operations LLC, among others.
Contemporary warfare integrates armed forces with advanced munitions to enhance their lethality and survivability on the battlefield.Report Preview: https://bisresearch.com/industry-report/military-ammunition-market.htmlGovernments across the world are splurging a significant volume of their gross domestic product (GDP) in modernizing their armed forces.
Modernizing militaries has been the prime objective for nations as it directly impacts national security.
Over the years, both developed and emerging nations are allotting a significant volume of their GDP for defense spending.
Rising defense budgets is one of the major drivers for the defense agencies to procure and modernize the military arsenal.The global slowdown that began due to the outbreak of the novel COVID-19 had a deep impact on all industries.
The governments are forced to freeze all operations that involve transport and mass gathering to counter the COVID-19 pandemic.
The restriction impacted the flow of the supply chain in all industries, and the defense industry is no exception.
