HOME › Research Insight › The global ammunitions market is expected to show substantial growth by 2020 with a CAGR of 4.2%.
The global ammunitions market is expected to show substantial growth by 2020 with a CAGR of 4.2%.
Munitions is the collective term for all type of ammunitions. Ammunitions are any weapon which can be used in combat. It includes missiles, bombs, naval mines, land mines, as well as anti-personnel mines. There are three types of components in ammunition including explosive materials or propellants, projectiles, and cartridges. The common term used to denote detonators for explosives is fuze and includes features like delay, time, point detonating, and proximity.
There are different types of ammunitions namely large, medium, and small caliber ammunition, artillery ammunition, and mortar ammunition. In the global ammunitions market, small caliber constitutes the largest share. The main factors driving the small caliber ammunitions market are the increasing expenditure and procurements in regions of the Middle East, Russia, and Asia-Pacific.
This market is considered to be self sustaining as nations continuously acquire as well as replenish their aging stock on a regular basis and also provide training for its troops to maintain readiness levels. The global ammunitions market in Asia-Pacific region and the Middle East will grow at the highest CAGR as Asia has one of the largest growing economies in the world and the instability in the Middle Eastern region after the Arab Spring.
The global ammunitions market is on a significant upswing. The reason for the growing interest in ammunitions is that now every country is investing significantly to modernize their armed forces. Also, there has been an increase in military expenses by the Middle East, APAC, and Russia. The main challenge which is being faced by every ammunition industry is improving quality and quantity while reducing cost.
Ammunition Market by Types (Large Caliber, Medium Caliber and Small Caliber, Artillery, Mortar), by Geography (North America, Europe, APAC, Latin America, Africa) - Market Forecast & Analysis to 2013 - 2020
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