The report suggests that the market is expected to grow at a CAGR of 5.69% between 2023-2032
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Small Caliber Ammunition Market – A Global and Regional Analysis.
According to this study, the global small caliber ammunition market was valued at $8.52 billion in 2022 and is projected to reach $15.67 billion by 2033, growing at a staggering CAGR of 5.69%.
The following factors are responsible for the increase in demand for global small caliber ammunition:
- Geopolitical conflicts and tensions
- Law enforcement and security demands
- Military modernization programs
The detailed study is a compilation of 127 market data tables and 27 figures spread through 221 pages.
Check out the detailed table of content here:
https://bisresearch.com/requestsample?id=1523&type=toc
Analyst’s Take on the Market Projection
According to Nilopal Ojha, Principal Analyst, BIS Research, “Several technological advancements have been observed in small caliber ammunition, wherein new more accurate and effective, and armor piercing ammunition have been developed by various market participants. Additionally, demand for small caliber ammunition is also expected to increase due to military modernization programs, and particularly due to geopolitical conflicts.”
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Major Existing Industry Leaders in the Global Small Caliber Ammunition Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are:
- Aguila Ammunition
- Australian Munitions
- BAE Systems
- CCI Ammunition
- CBC Global Ammunition
- Denel PMP
- Elbit Systems
- FN HERSTAL
- Global Ordnance
- Hughes Precision Manufacturing Pvt. Ltd.
- Nammo AS
- POONGSAN CORPORATION
- Ultra Defense Corp
- Vista Outdoor Operations LLC
- Winchester Ammunition
Recent Industry Developments in the Global Small Caliber Ammunition Market
- In February 2023, Winchester Ammunition signed a contract with the U.S. Army to manufacture, test and deliver a batch of 5 million 6.8 mm next-generation squad weapon (NGSW) cartridges.
- In October 2022, CBC Global Ammunition, in partnership with SSS Defence, an Indian defense manufacturer, won a contract to supply the Nepal Army with its 5.56×45 mm rounds. The partnership was established in 2019, with ammunition production operations beginning in 2021.
- In June 2022, FN HERSTAL and Fiocchi Munizioni SPA, an Italian firm specializing in facilitating outdoor sports components, announced a partnership inclusive of a licensing agreement to collaboratively manufacture and supply small caliber ammunition for the U.S. commercial market. The partnership primarily focuses on the 5.7×28 mm caliber ammunition.
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About BIS Research:
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Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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