The Ammunition market study offers a thorough analysis of the key factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. Ammunition Market is expected to reach USD 24.9 billion by 2025, at a CAGR of 3.6% during the forecast period. The Ammunition Market is divided based on Application, Caliber, Bullets, Aerial Bombs, Artillery Shells, Mortars, Guidance and Lethality.

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Ammunition Market Size Forecast to 2025 With COVID-19 Impact Analysis
The COVID-19 pandemic has caused a large-scale impact on economies across the world. The global manufacturing of ammunition, components, and assembly lines have been impacted. Although the manufacturing of ammunition fors military applications is of prime importance, disruptions in the supply chain have set back their manufacturing for the time being. Resuming the manufacturing and demand for ammunition depends on the level of COVID-19 exposure a country is facing, the level at which manufacturing operations are running, and import-export regulations, among other factors. Although companies may still be taking in orders, delivery schedules might not be fixed.
Various countries have decided to cut overall defense budgets. According to industry experts, defense departments are focusing more on sectors that are of high importance to national security, while budgets for research and non-critical sectors are likely to be temporarily cut. However, countries like the US, China, and other countries in Europe have increased their planned defense spending during this time, contrary to Latin America and Africa.

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According to an industry expert, the demand for ammunition is not expected to be affected to a great extent since ammunition is a key component of the frontline infantry. However, according to the International Monetary Fund, global GDP is expected to drop by approximately 3.0% in 2020. This would adversely impact the revenue generated from taxes. When taxes drop, governments are placed under tremendous pressure; the effect of which will be seen in the subsequent years. Since all initial budgets by countries were announced, voted, and passed in 2020 before the pandemic, none of the current budgets consider the economic impact of COVID-19. It is estimated that budget cuts and the real impact would reflect only once draft budgets for 2021 are released.
Ammunition Market Dynamics
Driver: Modernization programs undertaken by military forces in major economies
Rising incidences of armed intranational and international conflicts have driven several countries to enhance their military strengths through the procurement of advanced ammunition and equipment. Modernization is currently being undertaken across most emerging economies of the world, including Russia, China, Turkey, India, and Saudi Arabia. As a result of this, defense expenditure for ammunition procurement and R&D activities has increased significantly across the globe over the past few years. These countries are spending significantly on military modernization programs to enhance and upgrade their surveillance capabilities and improve their firepower assets in terms of range, precision, mobility, and lethality, with range and precision being the main criteria for ammunition procurements. These modernization activities are one of the most important drivers for small-caliber ammunition and firearms demand. Increasing training expenditure by major economies, as well as emerging economies, is also growing small ammunition consumption.
Opportunity: Reduction in weight of ammunition
One of the major challenges for the ammunition industry is the development of lightweight ammunition that does not compromise on combat performance and precision. Modernization programs adopted by several nations to empower their militaries and law enforcement agencies have resulted in a significant increase in the total weight of ammunition. The combined weight of equipment prevents personnel from being agile and effective. Hence, law enforcement and defense agencies are now focusing on acquiring lightweight ammunition.
Increasing spending on the modernization of armed forces is driving the growth of the defense applications
The defense segment of the ammunition market has been classified into military and homeland security. The growth of the defense segment of the ammunition market can be attributed to the increased spending of countries
The North America market is projected to contribute the largest share from 2020 to 2025
The ammunition market in the North American region has been studied for the US and Canada. Major factors that are expected to drive the growth of the market in the region include rising instances of terrorism, which have led to increased use of ammunition by armed forces and a growing number of drug cartels in Central America
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