According to a recently published report by Research Nester on “Small Caliber Ammunition Market: Global Demand Analysis & Opportunity Outlook 2027”delivers detailed overview of the global small caliber ammunition market in terms of market segmentation by gun type, by application, by caliber and by region.
The increasing crime rate, terrorist attacks, regional conflicts and the various geopolitical issues have led to the emergence of increasing demand for ammunitions and other high-end military equipment. The recent attacks on Sri Lanka and New Zealand has emphasized the governments to adopt for high investments in military and defense sector to ensure public and general safety.
As result of which, overall ammunition market is expanding, with small caliber ammunition market projected to witness a significant growth of around 3.2 % during the forecast period i.e. 2019-2027. Additionally, the recent developments have resulted in development of low weight cases, reduced range ammunitions, ammunitions with luminance trace which are one-way which are likely to foster the growth of the small caliber ammunitions market in the next few years.
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The market is segmented by gun type, application and caliber. The gun type segment is further segmented into handgun, rifle, shotgun and others, out of which, the handgun segment is anticipated to have leading shares on the back of their wide range of application in military and commercial purposes. The market is further segmented into self-defense, military/armed forces, government agencies, hunting and sports on the basis of application, out of which military/armed forces segment is anticipated to have leading shares owing to increasing border tensions between the countries, recent terrorist attacks and rising crime rate, the governments are investing huge in their militaries to empower them followed by hunting and sports segment with rising inclination of people towards sports like hunting, shooting and others.
On the regional basis, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa, out of which, North America is anticipated to have leading shares during the forecast period owing to the presence of key market players coupled with low government restrictions in use of self-defense guns and ease of getting license in the region followed by Europe, which is expected to witness second largest market share on the back of rising shooting and hunting activities coupled with increasing rate of self-defense against the crime rate. Asia-Pacific is expected to witness significant growth owing to the increasing terrorist activities in the region coupled with rising territorial conflicts between the countries.
Increasing Crime Rate and Rising Geopolitical Issues to Boost the Demand for Small Caliber Ammunition
The increasing crime rate and recent terrorist attacks has pushed the governments to adopt for better defense and military equipment and products. The governments are investing heavily into this area to provide armies with best equipment to tackle situations.
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Technological Advancements- The integration of IT to provide better targeting and high impact for instance, the automation in reconnaissance, surveillance, and target acquisition has developed systems with integrated computer systems for technical and tactical fire control which is expected to drive the market growth.
The high cost associated with production and usage of these ammunition owing to the fluctuation in international prices of raw materials and government regulations imposed on the use of ammunitions for self-defense and difficulty in getting license in some countries are expected to hinder the market growth.
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