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The Global Ammunition Market Will Show Momentous Growth In Asia-Pacific (APAC) Region By 2020
Currently, the global ammunition market is dominated by Asia-Pacific and the Middle East due to the emerging economies in these regions. The demand created by the ongoing conflicts is a major driver of the ammunition market. The modernization programs carried out across Asia, aided by their economic growth and fueled by the rising territorial tensions in the region has also increased the demand for ammunition market. However, as far as spending is concern, Europe, and Latin America lag far behind its counterparts. The global ammunition market is nascent in APAC and the Middle East and will significantly grow and reach the peak by 2020.
North America contributes a large market share, as the U.S. being the largest defense spender in the North America accounting nearly 80% of the entire market share in the region. Africa is expected to show steady growth in the forecast period due to economic growth and ensuing conflict throughout the continent. In Latin America, Brazil is the largest spender in ammunitions. Spending on small caliber ammunition is high as compared to other ammunitions, hence contributes the largest portion of the market share.
The global ammunition market in Europe is expected to show steady growth due to the expected end of the International Security Assistance Force (ISAF) mission in Afghanistan. All types of ammunition are expected to show stable growth in the European region. Decreasing demands in the west and increasing opportunities in the rest of the world, is going to put an added pressure across the global ammunition industrial base, as they strive to thrive while facing unknown challenges on the way.
Related Report @
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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