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(USGovernment-News.Com, March 16, 2016 ) The global competition to procure and develop enhanced weaponry and ammunition to sustain economic security of nations is the primary driver for the global ammunition market. Growing investments to combat various unfavourable geopolitical disputes and threats from terrorist organizations are further boosting the market for ammunition across the world. In addition, the adoption of modern technology in the development of enhanced weaponry is simultaneously improving the demand scenario for ammunition globally. The growth of the Russian ammunition market and increasing participation in shooting related sports across the world is influencing the steady growth of the ammunition market globally. The countries such as India, China, South Korea, France, Germany, Saudi Arabia, Turkey, Israel and South Africa are expected to generate further demand for ammunition in the recent future. With the rapid military modernization initiatives being adopted by countries in the Asia Pacific and Rest of the World (RoW) regions, the market for ammunition is expected to grow substantially over the forecast period.
The industry also encounters several major restraints such as the increasing research and development expenses and international weapons regulatory laws have high impact presently which hinders the growth of the market. Additionally, the demilitarization initiatives adopted across Europe and North America are expected to reduce the demand for ammunition form the military and law enforcement sectors. However, the impacts of these factors are expected to reduce over the period of forecast.
In this report, the market has been segmented based on type, caliber, application and geography. It also includes drivers, restraints and opportunities (DROs). The study highlights current market trends and provides the market size of 2014 and forecast from 2015 to 2021. The report covers the current market scenario for ammunition and highlights future trends that could affect the demand for the same. The global ammunition market is anticipated to observe a steady growth from 2015 - 2021 at a decent CAGR.
By geography, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Based on type, the market has been categorized into full metal jacketed (FMJ) ammunition, tracer ammunition, incendiary ammunition, armor piercing ammunition and others. Additionally, the market has been segmented on the basis of calibers which include small caliber ammunition, medium caliber ammunition, mortar ammunition, artillery ammunition and shotgun shells. The market size and forecast from 2014 to 2021 have been provided in the report.
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