Ammunition Market

Ammunition Market by Application (Defense, Civil & Commercial), Caliber (Small, Medium, Large), Product (Bullets, Aerial Bombs, Artillery Shells, Mortars), Component, Guidance Mechanism, Lethality (Lethal, Less-lethal), Region (2021-2026)

Report Code: AS 2541 Apr, 2022, by marketsandmarkets.com

[383 Pages Report] The global ammunition market size is projected to grow from USD 24.3 billion in 2021 to USD 29.1 billion by 2026, at a CAGR of 3.7% from 2021 to 2026.

Factors such as the changing nature of warfare, the militarization of police forces, the increasing incidence of drug trafficking, and terrorist activities, and the modernization of armed forces are driving factors assisting the growth of the ammunition market.

Ammunition Market

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COVID-19 Impact on the Ammunition Market

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 for 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.

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

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.

The sociopolitical need for countries such as China, India, and South Korea to be battle-ready has resulted in the large-scale procurement of advanced ammunition, including small-caliber ammunition, along with other advanced warfare equipment. For instance, China Ordnance Industries developed a new rifle known as QBZ-95, which is reportedly highly reliable and accurate and has low recoil. This rifle is the new service weapon of the Chinese military. Also, as of 2018, the Defence Acquisition Council of India cleared the procurement of Negev 7.62x51mm LMG for use by the Indian Army, Navy, and Air Force. This LMG will replace the 5.56x45mm INSAS LMG and is expected to increase the lethality and range of soldiers.

Other notable military modernization programs have been observed in Russia, Brazil, and several countries of the European Union. The rising need for large infantry forces, which is also an important component of military modernization programs, is another major factor driving the demand for ammunition globally.

Restraint: Varying regulations affecting the procurement of ammunition

Economic, legal, and political frameworks differ from country to country, resulting in varying regulations regarding arms, ammunition, and other warfare equipment as well. This is one of the major factors affecting the key players in the ammunition market, such as General Dynamics (US), Rheinmetall AG (Germany), and BAE Systems (UK). These players are expected to fully comply with the laws and regulations of their home countries as well as those of foreign governments since compliance failures affect sales, revenues, and profit margins and may even invite administrative and criminal action. Regulations often impact the contracting and procurement processes of a number of countries.

The following are key firearms-related conflicting regulations prevalent in the US:

  • Stringent controls on the manufacture, transfer, and possession of certain small-caliber ammunition, such as .50 caliber, to ensure public safety
  • Serialization of ammunition to assist law enforcement agencies in solving gun-related crimes

Regulations that differ from country to country include import-export controls, technology transfers, and anti-corruption laws. Non-compliance with these regulations could have a severe impact on the operations of market players, thereby lowering market revenue globally. The differences in the regulations of different countries are driven by numerous economic, legal, or political factors, thereby restraining the growth of the ammunition market. For instance, gun laws in the US and India are different, where India has stricter regulations and gun control laws as compared to the US.

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.

In Navy League’s Sea, Air, Space Exposition (April 2017), the Executive Director of US Marine Corps Systems Command stated that “The Marines are focusing on lightening the load infantry squads carry into battle.” The Marines have tested polymer-cased .50 caliber ammunition, and on a .50-caliber ammunition pallet, approximately 1,000 pounds can be saved. The US Army has had a strong interest in reducing the weight of ammunition for a decade. LSAT’s cased-telescoped 5.56mm ammunition relies on a polymer case rather than a brass one to hold the propellant and the projectile, like a conventional shotgun shell. It weighs about 37% less than a standard belted 5.56mm. In accordance with this, the US Marine Corps awarded a USD 10 million contract for new lightweight polymer .50 caliber ammunition to MAC LLC, a Mississippi-based company.

In July 2018, Textron Systems received a contract from the US Army to develop a prototype for the Next Generation Squad Automatic Rifle (NGSAR) program. Under this contract, the company will develop Cased-Telescoped (CT) Weapons & Ammunition to possibly replace existing Squad Automatic Weapons being used by US armed forces. Textron Systems has also developed CT weapons and ammunition systems (October 2017) that offer high maneuverability, high performance, and a 40% reduction in weight. It has designed ammunition in which the projectile is seated within a cylindrical case, which led to a 37% reduction in weight compared to brass cartridges. Such developments present opportunities for market players.

Challenge: The proliferation of illicit ammunition manufacturers

Information on global ammunition flow is difficult to obtain. According to the UN Office of Disarmament Affairs, “More than 80% of ammunition trade seems to remain outside of reliable export data”. Conflict Armament Research (CAR) classifies the causes of weapons diversion into six categories:

  • Battlefield capture (30%)
  • Poorly managed national stockpiles (12%)
  • State-sponsored diversion where a State-supported the diversion of weapons to unauthorized end-users (22%)
  • Loss from State custody for unknown reasons (27%)
  • State collapse where States lose or withdraw their control over stockpiles (5%)
  • Unknown causes (4%).

Expert groups monitoring United Nations arms embargoes noted years ago that the lack of basic accountability systems was a factor in the diversion of ammunition.

Thus, the proliferation of illicitly manufactured ammunition is a major issue that threatens the security of various countries across the world. It involves the manufacturing or assembly of ammunition, explosives, and other related materials from components that are either illicitly trafficked or do not have markings from government authorities. Such illicitly manufactured ammunition is often transferred and smuggled across international borders. It not only becomes a source of terrorist activities but can also substitute branded ammunition for a number of other applications, affecting the demand for branded ammunition negatively.

Lack of effective stockpile management and security at peacekeeping missions is also a significant cause of this. Weak inventory surveillance and reporting mechanisms lead to the smuggling of ammunition across borders, thus posing challenges for the market.

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 on military modernization programs, as well as the rise in terrorist activities and civil disturbances in several parts of the world.

Based on caliber, the small caliber segment of the ammunition market is projected to witness the highest CAGR during the forecast period

Based on caliber, the ammunition market has been segmented into small, medium, large, and others. The small caliber segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to increased use of small caliber ammunition by military and homeland security personnel, owing to less lethality of this ammunition. Moreover, open online marketplaces for small arms and ammunition and increased procurement of small caliber ammunition by the defense and homeland security sectors to curb rising instances of armed conflicts are also contributing to the growth of this segment.

Bullets segment of the ammunition market is projected to witness the highest CAGR owing to increasing focus on upgrading of land and air force inventory by armed forces

Based on products, the ammunition market has been segmented into bullets, aerial bombs, grenades, artillery shells, and mortars. The bullets segment is projected to grow at the highest CAGR. In recent years, an increasing focus has been observed to upgrade land as well as air force inventory across the globe due to multiple reasons such as geopolitical tensions and air force applications. For instance, the US has ongoing F-35 fighter aircraft programs. Whereas the Indian air force is looking for multi-role aircraft to strengthen their armed forces, and hence new aircraft procurements will lead to an increased demand for related ammunition in the coming years. Hanwha Corporation (South Korea) and General Dynamics Corporation (US) manufacture aerial bombs for applications.

The North American market is projected to contribute the largest share from 2021 to 2026

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

North American countries are awarding a number of contracts to major players of the ammunition market for the delivery of ammunition, thus driving the growth of the ammunition market in the region. For instance, In July 2020, Northrop Grumman Corporation secured a contract from the US Army to deliver the next-generation airburst cartridge for the 30mm XM813 Bushmaster Chain Gun. The Bushmaster Chain Gun will be installed on the Stryker Infantry Carrier Vehicle (ICV). Also, the company has secured a contract worth USD 93 million from the US Army for the manufacture of multipurpose munition technology for destroying targets such as lightly armored infantry fighting vehicles. The munitions are expected to be compatible with the M4A1 rifle.

Industry experts have stated that the COVID-19 pandemic has not affected the demand for ammunition in the defense sector for the US. US Department of Defense (DoD) has asked the manufacturers to continue with product activities related to ammunition. However, some change has been observed in demand for ammunition in civil & commercial applications, especially in sporting and hunting activities. The demand for ammunition for self-defense applications has increased to a greater extent. According to the New York Times published in April 2020, “About 2 Million Guns Were Sold in the US as Virus Fears Spread,” which showcases the increased ammunition demand for self-defense applications.

Ammunition Market by Region

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Key Market Players

The ammunition market is dominated by a few globally established players such as Northrop Grumman Corporation (US), CBC Global Ammunition (Brazil), BAE Systems (UK), and General Dynamics Corporation (US) among others.

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Scope of the Report

Report Metric

Details

Market size available for years

2017–2026

Base year considered

2020

Forecast period

2021-2026

Forecast units

Value (USD Million)

Segments covered

By Application, By Caliber, By Product, By Component, By Guidance Mechanism, By Lethality

Geographies covered

North America, Europe, Asia Pacific, Middle East, Africa, and Latin America

Companies covered

Northrop Grumman Corporation (US), General Dynamics Corporation (US), CBC Global Ammunition (Brazil), Olin Corporation (US), Ruag Ammotec (Switzerland), BAE Systems (UK), Thales Group (France), Rheinmetal AG (Germany), Nexter KNDS group (France), Elbit Systems (Israel), Nammo AS (Norway), and ST Engineering (Singapore) among others. (28 Companies)

The study categorizes the ammunition market based on application, caliber, product, component, guidance mechanism, lethality, and region

By Application

  • Defense
    • Military
    • Homeland Security
  • Civil & Commercial
    • Sporting
    • Hunting
    • Self-defense
    • Others

By Caliber

  • Small
    • 9mm
    • 5.56mm
    • 7.62mm
    • 12.7mm
    • .338 Lapua Magnum
    • .338 Norma Magnum
    • 14.5mm
    • Others (Small Caliber)
  • Medium
    • 20mm
    • 25mm
    • 30mm
    • 40mm
  • Large
    • 60mm
    • 81mm
    • 120m
    • 155mm
    • Others (Large Caliber)
  • Others

By Product

  • Bullets
  • Aerial Bombs
  • Grenades
  • Artillery Shells
  • Mortars

By Component

  • Fuzes & Primers
  • Propellants
  • Bases
  • Projectiles and Warheads
  • Others

By Guidance Mechanism

  • Non-guided
  • Guided

By Lethality

  • Lethal
  • Less-lethal

By Region

  • North America
    • Asia Pacific
    • Europe
    • Middle East
    • Latin America
    • Africa

Recent Developments

  • In July 2021, Lockheed Martin Missile and Fire Control, a division of Lockheed Martin Corporation, was awarded a USD 160 million modification (P00032) contract (W31P4Q-19-C-0101) to produce High Mobility Artillery Rocket Systems M142 launchers and support requirements.
  • In July 2020, the Nexter KNDS Group received a contract from the French Army for the supply of 70,000 modular artillery loads for use on the CAESAR system. The CAESAR system is a 155mm artillery system being used by the French Army. All the modules under this assignment will be manufactured at the Eurenco Bergerac site and delivered between 2021 and 2022 to the French Army.
  • In July 2020, Northrop Grumman Corporation secured a contract from the US Army to deliver the next-generation airburst cartridge for the 30mm XM813 Bushmaster Chain Gun. The Bushmaster Chain Gun will be installed on the Stryker Infantry Carrier Vehicle (ICV).
  • In March 2020, BAE Systems received a contract by the US Army to supply advanced BONUS munitions. BONUS is a 155-millimeter munition designed for destroying armored targets and will be employed by the Army’s fleet of M109 self-propelled howitzers and M777 ultra-lightweight towed howitzers. These deliveries are expected to start in 2021.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 49)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           1.3.1 AMMUNITION MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 INCLUSIONS AND EXCLUSIONS
           TABLE 1 INCLUSIONS AND EXCLUSIONS IN AMMUNITION MARKET
    1.5 CURRENCY & PRICING
    1.6 LIMITATIONS
    1.7 MARKET STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 55)
    2.1 RESEARCH DATA
           FIGURE 1 RESEARCH FLOW
           FIGURE 2 AMMUNITION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION
    2.3 RESEARCH APPROACH & METHODOLOGY
           2.3.1 BOTTOM-UP APPROACH
                    2.3.1.1 COVID-19 Impact on the market
                    2.3.1.2 Ammunition market for military
                    2.3.1.3 Ammunition market for homeland security
                    2.3.1.4 Ammunition market for civil & commercial
                    2.3.1.5 Ammunition market size, by segment
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN & DATA TRIANGULATION
           FIGURE 5 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 65)
    FIGURE 6 DEFENSE SEGMENT PROJECTED TO LEAD AMMUNITION MARKET DURING FORECAST PERIOD
    FIGURE 7 SMALL CALIBER SEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 8 BULLETS SEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 9 PROJECTILE AND WARHEADS SEGMENT EXPECTED TO LEAD AMMUNITION MARKET DURING FORECAST PERIOD
    FIGURE 10 NON-GUIDED SEGMENT PROJECTED TO LEAD AMMUNITION MARKET DURING FORECAST PERIOD
    FIGURE 11 LETHAL SEGMENT PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
    FIGURE 12 MARKET IN ASIA PACIFIC PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 70)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN AMMUNITION MARKET
           FIGURE 13 INCREASING NUMBER OF ARMED CONFLICTS AND DEMAND FOR ARMED FORCES MODERNIZATION PROGRAMS FUEL MARKET GROWTH
    4.2 AMMUNITION MARKET FOR DEFENSE APPLICATION
           FIGURE 14 MILITARY SEGMENT PROJECTED TO LEAD AMMUNITION MARKET DURING FORECAST PERIOD
    4.3 AMMUNITION MARKET FOR CIVIL & COMMERCIAL APPLICATION
           FIGURE 15 SELF-DEFENSE SEGMENT PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.4 SMALL CALIBER: AMMUNITION MARKET , BY TYPE
           FIGURE 16 5.56MM SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2020
    4.5 AMMUNITION MARKET, BY APPLICATION
           FIGURE 17 DEFENSE SEGMENT EXPECTED TO LEAD MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 73)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: AMMUNITION MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Geopolitical tensions and territorial conflicts across globe
                               TABLE 2 GLOBAL TERRORISM INDEX, BY COUNTRY, 2020
                    5.2.1.2 Growth in military expenditure across countries
                               FIGURE 19 MILITARY EXPENDITURE OF TOP COUNTRIES, 2020
                               FIGURE 20 SHARE OF TOP 10 MAJOR ARMS EXPORTERS, 2016–2020
                    5.2.1.3 Change in nature of warfare
                    5.2.1.4 Modernization programs undertaken by military forces
                               FIGURE 21 SHARE OF TOP 10 MAJOR ARMS IMPORTERS, 2016–2020
                    5.2.1.5 Militarization of police forces
                    5.2.1.6 Rise in drug trafficking globally
                    5.2.1.7 Procurement of guns for personal safety and sports
           5.2.2 RESTRAINTS
                    5.2.2.1 Varying regulations affecting procurement of ammunition
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Advancements in small caliber ammunition
                               TABLE 3 RECENT DEVELOPMENTS IN ADVANCED AMMUNITION
                    5.2.3.2 Stockpiling of ammunition
                    5.2.3.3 Reduction in weight of ammunition
                    5.2.3.4 Surging demand for advanced ammunition from emerging economies
           5.2.4 CHALLENGES
                    5.2.4.1 Proliferation of illicit ammunition manufacturers
                    5.2.4.2 International measures to control use of ammunition
    5.3 IMPACT OF COVID-19 ON AMMUNITION MARKET
           FIGURE 22 IMPACT OF COVID-19 ON AMMUNITION MARKET
           5.3.1 DEMAND-SIDE IMPACT
                    5.3.1.1 Key developments from January 2020 to July 2020
           5.3.2 SUPPLY-SIDE IMPACT
                    5.3.2.1 Key developments from January 2020 to July 2020
    5.4 RANGES AND SCENARIOS
           FIGURE 23 IMPACT OF COVID-19 ON AMMUNITION MARKET: GLOBAL SCENARIOS
    5.5 AMMUNITION MARKET ECOSYSTEM
           5.5.1 PROMINENT COMPANIES
           5.5.2 PRIVATE AND SMALL ENTERPRISES
           5.5.3 END USERS
                    FIGURE 24 ECOSYSTEM MAP: AMMUNITION MARKET
                    TABLE 4 AMMUNITION MARKET: MARKET ECOSYSTEM
    5.6 USE CASE: SMALL CALIBER AMMUNITION
           5.6.1 INCREASED EFFORTS TO DEVELOP ADVANCED SMALL CALIBER AMMUNITION FOR DEFENSE APPLICATIONS
                    FIGURE 25 OVERVIEW OF INNOVATION IN SMALL CALIBER AMMUNITION
                    5.6.1.1 Development of superior 6.8mm ammunition by US armed forces to replace existing 5.56mm ammunition
                    5.6.1.2 300 blackout commercial-grade calibers seeing increased adoption by major armed forces
    5.7 TRENDS/DISRUPTION IMPACTING CUSTOMER'S BUSINESS
           5.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR AMMUNITION MANUFACTURERS
                    FIGURE 26 REVENUE SHIFT IN AMMUNITION MARKET
    5.8 PORTER’S FIVE FORCES ANALYSIS
           TABLE 5 AMMUNITION MARKET: PORTER’S FIVE FORCE ANALYSIS
           FIGURE 27 PORTER’S FIVE FORCE ANALYSIS: AMMUNITION MARKET
           5.8.1 THREAT OF NEW ENTRANTS
           5.8.2 THREAT OF SUBSTITUTES
           5.8.3 BARGAINING POWER OF SUPPLIERS
           5.8.4 BARGAINING POWER OF BUYERS
           5.8.5 DEGREE OF COMPETITION
    5.9 KEY STAKEHOLDERS & BUYING CRITERIA
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING AMMUNITION FOR TWO APPLICATIONS
                    TABLE 6 INFLUENCE OF STAKEHOLDERS IN BUYING AMMUNITION FOR TWO APPLICATIONS (%)
           5.9.2 BUYING CRITERIA
                    FIGURE 29 KEY BUYING CRITERIA AMMUNITION FOR TOP TWO APPLICATIONS
                    TABLE 7 KEY BUYING CRITERIA OF AMMUNITION FOR TOP TWO APPLICATIONS
    5.10 VALUE CHAIN ANALYSIS
           FIGURE 30 VALUE CHAIN ANALYSIS: AMMUNITION MARKET
           5.10.1 AMMUNITION PRODUCTION PROCESS
                    FIGURE 31 SMALL CALIBER AMMUNITION PRODUCTION PROCESS
                    5.10.1.1 Packaging and marking of small caliber ammunition
                    5.10.1.2 Trends in packaging and marking ammunition
                               5.10.1.2.1 Laser engraving
                               5.10.1.2.2 RFID tags
                               5.10.1.2.3 Electronic chip strips
    5.11 PRICING ANALYSIS
                    FIGURE 32 AVERAGE SELLING PRICE OF SMALL, MEDIUM & LARGE CALIBER AMMUNITION, BY APPLICATION
                    TABLE 8 AVERAGE SELLING PRICE OF SMALL CALIBER AMMUNITION, 2019 (USD)
           5.11.1 AVERAGE SELLING PRICE OF MEDIUM CALIBER AMMUNITION
                    TABLE 9 AVERAGE SELLING PRICE OF MEDIUM CALIBER AMMUNITION, 2019 (USD)
    5.12 IMPORT-EXPORT TRENDS
           5.12.1 IMPORTS (SMALL ARMS, LIGHT WEAPONS, AND AMMUNITION), 2016
                    TABLE 10 IMPORT DATA, 2016
           5.12.2 EXPORT (SMALL ARMS, LIGHT WEAPONS, AND AMMUNITION), 2016
                    TABLE 11 EXPORT DATA, 2016
    5.13 KEY CONFERENCES & EVENTS, 2022-2023
                    TABLE 12 AMMUNITION MARKET: DETAILED LIST OF CONFERENCES & EVENTS

6 INDUSTRY TRENDS (Page No. - 108)
    6.1 INTRODUCTION
    6.2 EVOLUTION
           FIGURE 33 EVOLUTION OF AMMUNITION
    6.3 TECHNOLOGY TRENDS
           FIGURE 34 AMMUNITION TECHNOLOGY TRENDS
           6.3.1 CASELESS TELESCOPED AMMUNITION (CTA)
           6.3.2 POLYMER-CASED AMMUNITION
                    TABLE 13 CONVENTIONAL BRASS-CASED AMMUNITION VS. EMERGENT CARTRIDGE CASE TECHNOLOGIES
           6.3.3 LIGHTWEIGHT AMMUNITION
                    TABLE 14 WEIGHT DISTRIBUTION: 7.62X51MM CARTRIDGE
           6.3.4 OPTICALLY INITIATED AMMUNITION
           6.3.5 RADICALLY INVASIVE PROJECTILE (RIP) AMMUNITION
           6.3.6 PRECISION-GUIDED MUNITION (PGM)
           6.3.7 MULTIPURPOSE MUNITION
    6.4 ADVANCEMENTS IN AMMUNITION TECHNOLOGY
           6.4.1 CARTRIDGE-BASED AMMUNITION
                    6.4.1.1 Laser-initiated ammunition
                    6.4.1.2 One-way luminescence (OWL) projectiles
                    6.4.1.3 Pre-fragmented ammunition
                    6.4.1.4 General-purpose caliber
                    6.4.1.5 Green ammunition
                    6.4.1.6 Cased telescoped (CT) ammunition
                    6.4.1.7 Polymer cartridge cases
                    6.4.1.8 Caseless ammunition
                    6.4.1.9 Self-guided smart bullets
                    6.4.1.10 Biodegradable plant-growing bullets
           6.4.2 SMART WEAPON AMMUNITION
                    6.4.2.1 Precision inertial navigation systems (PINS)
                    6.4.2.2 Micro inertial navigation technology
                    6.4.2.3 Extreme accuracy tasked ordnance
                    6.4.2.4 Inertial measurement units
           6.4.3 SELF-STEERING BULLET
    6.5 AMMUNITION REGULATORY BODIES, BY REGION
           FIGURE 35 AMMUNITION REGULATORY BODIES, BY REGION
    6.6 INNOVATIONS & PATENTS
           TABLE 15 IMPORTANT INNOVATION & PATENT REGISTRATIONS, 2015-2021

7 AMMUNITION MARKET, BY APPLICATION (Page No. - 118)
    7.1 INTRODUCTION
           FIGURE 36 DEFENSE SEGMENT PROJECTED TO LEAD AMMUNITION MARKET FROM 2021 TO 2026
           TABLE 16 AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
           TABLE 17 AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
    7.2 DEFENSE
           TABLE 18 AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 19 AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
           7.2.1 MILITARY
                    7.2.1.1 Rising use of small caliber ammunition by law enforcement agencies to drive demand
           7.2.2 HOMELAND SECURITY
                    7.2.2.1 Rising use of small caliber ammunition by law enforcement agencies to drive demand
    7.3 CIVIL & COMMERCIAL
           TABLE 20 AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 21 AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
           7.3.1 SPORTING
                    7.3.1.1 Increasing adoption of shooting sports in North America to drive demand
           7.3.2 HUNTING
                    7.3.2.1 Increasing demand for precision small caliber ammunition in hunting activities to drive demand
           7.3.3 SELF-DEFENSE
                    7.3.3.1 Rising concerns over individual safety to drive demand
           7.3.4 OTHERS

8 AMMUNITION MARKET, BY CALIBER (Page No. - 124)
    8.1 INTRODUCTION
           FIGURE 37 SMALL CALIBER SEGMENT PROJECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
           TABLE 22 AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
           TABLE 23 AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
    8.2 SMALL CALIBER AMMUNITION
                    TABLE 24 SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
           8.2.1 9 MM
                    8.2.1.1 9x19 mm Parabellum is the most preferred handgun caliber by law enforcement agencies across the globe
           8.2.2 5.56 MM
                    8.2.2.1 5.56x45 mm is the widely used caliber in military applications
           8.2.3 7.62 MM
                    8.2.3.1 Increase in procurement from defense forces around the world to drive demand
    8.3 .338 LAPUA MAGNUM
           8.3.1 .338 LAPUA MAGNUM HAS SEEN INCREASED ADOPTION BY SPECIAL FORCES FOR PRECISION APPLICATIONS
    8.4 .338 NORMA MAGNUM
           8.4.1 INCREASING ADOPTION OF .338 NORMA MAGNUM AMMUNITION IN US ARMED FORCES TO DRIVE DEMAND
           8.4.2 12.7 MM
                    8.4.2.1 12.7 mm machine gun caliber expected to have continuous demand
           8.4.3 14.5 MM
                    8.4.3.1 Increased demand in remote weapons stations of naval vessels, aircraft, and armored vehicles to drive the segment
           8.4.4 OTHERS
    8.5 MEDIUM CALIBER AMMUNITION
           TABLE 25 MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
           8.5.1 20 MM
                    8.5.1.1 Increasing use in counter-rocket, artillery, and mortar (C-RAM) weapon systems to drive demand
           8.5.2 25 MM
                    8.5.2.1 Increasing usage in infantry fighting vehicles to drive demand
           8.5.3 30 MM
                    8.5.3.1 High usage on attack helicopters to drive demand
           8.5.4 40 MM
                    8.5.4.1 Usage in mortars and grenades to drive demand
    8.6 LARGE CALIBER AMMUNITION
           TABLE 26 LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
           8.6.1 60 MM
                    8.6.1.1 Increasing use of mortars in Asia Pacific to drive demand
           8.6.2 81 MM
                    8.6.2.1 Growing use of mortars for long-range bombardment to drive demand
           8.6.3 120 MM
                    8.6.3.1 Adoption in main battle tanks to drive demand
           8.6.4 155 MM
                    8.6.4.1 Usage in long-range artillery applications to drive demand
           8.6.5 OTHERS
    8.7 OTHERS

9 AMMUNITION MARKET, BY PRODUCT (Page No. - 133)
    9.1 INTRODUCTION
           FIGURE 38 ARTILLERY SHELLS SEGMENT PROJECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
           TABLE 27 AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
           TABLE 28 AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
    9.2 BULLETS
           9.2.1 HIGH DEMAND FOR FROM ARMED FORCES DRIVE DEMAND FOR BULLETS
    9.3 AERIAL BOMBS
           9.3.1 INCREASING FOCUS ON UPGRADE OF AIR FORCE INVENTORY BY MAJOR ARMED FORCES TO DRIVE DEMAND
    9.4 GRENADES
           9.4.1 INCREASING USE OF HAND GRENADES IN TRAINING ACTIVITIES TO DRIVE DEMAND
    9.5 ARTILLERY SHELLS
           9.5.1 PROCUREMENT OF ADVANCED ARTILLERY SYSTEMS UNDER MILITARY MODERNIZATION PROGRAMS TO DRIVE DEMAND
    9.6 MORTARS
           9.6.1 HIGH DEMAND FOR LOW-COST MORTARS IN ASIA PACIFIC TO DRIVE DEMAND

10 AMMUNITION MARKET, BY COMPONENT (Page No. - 137)
     10.1 INTRODUCTION
               FIGURE 39 PROJECTILES AND WARHEADS SEGMENT PROJECTED TO LEAD AMMUNITION MARKET FROM 2021 TO 2026
               TABLE 29 AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
               TABLE 30 AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
     10.2 FUZES & PRIMERS
             10.2.1 PRIMERS
                       10.2.1.1 Rimfire primers
                                   10.2.1.1.1 High demand for low-cost ammunition to drive demand
                       10.2.1.2 Centerfire primers
                                   10.2.1.2.1 High acceptance in military ammunition to drive demand
             10.2.2 FUZES
                       10.2.2.1 Time fuzes
                                   10.2.2.1.1 High adoption in large caliber ammunition to drive demand
                       10.2.2.2 Impact fuzes
                                   10.2.2.2.1 Growing adoption in conventional ammunition to drive demand
                       10.2.2.3 Proximity fuzes
                                   10.2.2.3.1 Use in naval ammunition to drive demand
                       10.2.2.4 Combination fuzes
                                   10.2.2.4.1 Increasing adoption in new range guided ammunition to drive demand
     10.3 PROPELLANTS
             10.3.1 HIGH DEMAND FOR GUN POWDER IN BULLETS TO DRIVE THE SEGMENT
     10.4 BASES
             10.4.1 HIGH DEMAND FOR COPPER BASE IN CONVENTIONAL AMMUNITION TO DRIVE THIS SEGMENT
     10.5 PROJECTILES AND WARHEADS
             10.5.1 INCREASING DEVELOPMENT OF NEW VARIETIES OF WARHEADS TO DRIVE THIS SEGMENT
     10.6 OTHERS

11 AMMUNITION MARKET, BY GUIDANCE MECHANISM (Page No. - 142)
     11.1 INTRODUCTION
               FIGURE 40 NON-GUIDED SEGMENT PROJECTED TO GROW AT A HIGHER CAGR FROM 2021 TO 2026
               TABLE 31 AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
               TABLE 32 AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
     11.2 GUIDED
             11.2.1 TRANSITION FROM UNGUIDED AMMUNITION TO GUIDED AMMUNITION TO DRIVE DEMAND
     11.3 NON-GUIDED
             11.3.1 VERY HIGH USE OF CONVENTIONAL NON-GUIDED AMMUNITION BY MILITARY FORCES WORLDWIDE TO DRIVE DEMAND

12 AMMUNITION MARKET, BY LETHALITY (Page No. - 145)
     12.1 INTRODUCTION
               FIGURE 41 LETHAL SEGMENT PROJECTED TO LEAD AMMUNITION MARKET FROM 2021 TO 2026
               TABLE 33 AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
               TABLE 34 AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
     12.2 LESS-LETHAL
             12.2.1 USAGE DURING CIVIL DISTURBANCES & HOSTAGE RESCUE TO DRIVE DEMAND
     12.3 LETHAL
             12.3.1 INCREASING DEFENSE EXPENDITURES & SOCIAL UNREST TO DRIVE DEMAND

13 REGIONAL ANALYSIS (Page No. - 148)
     13.1 INTRODUCTION
     13.2 IMPACT OF COVID-19 ON AMMUNITION MARKET
               FIGURE 42 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF AMMUNITION MARKET IN 2021
               TABLE 35 AMMUNITION MARKET, BY REGION, 2017–2020 (USD MILLION)
               TABLE 36 AMMUNITION MARKET, BY REGION, 2021–2026 (USD MILLION)
     13.3 NORTH AMERICA
             13.3.1 COVID-19 IMPACT ON NORTH AMERICA
             13.3.2 PESTLE ANALYSIS: NORTH AMERICA
                       FIGURE 43 NORTH AMERICA AMMUNITION MARKET SNAPSHOT
                       TABLE 37 NORTH AMERICA: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 38 NORTH AMERICA: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 39 NORTH AMERICA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 40 NORTH AMERICA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 41 NORTH AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 42 NORTH AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 43 NORTH AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 44 NORTH AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 45 NORTH AMERICA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 46 NORTH AMERICA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 47 NORTH AMERICA: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 48 NORTH AMERICA: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 49 NORTH AMERICA: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 50 NORTH AMERICA: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 51 NORTH AMERICA: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 52 NORTH AMERICA: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 53 NORTH AMERICA: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 54 NORTH AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 55 NORTH AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 56 NORTH AMERICA: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 57 NORTH AMERICA: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.3.3 US
                       13.3.3.1 The US is one of the leading markets for ammunition across globe
                                   TABLE 58 US: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 59 US: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 60 US: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 61 US: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 62 US: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 63 US: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 64 US: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 65 US: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 66 US: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.3.4 CANADA
                       13.3.4.1 Military modernization programs are fueling growth of ammunition market in Canada
                                   TABLE 67 CANADA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 68 CANADA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 69 CANADA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 70 CANADA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 71 CANADA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 72 CANADA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 73 CANADA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 74 CANADA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 75 CANADA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
     13.4 EUROPE
             13.4.1 COVID-19 IMPACT ON EUROPE
             13.4.2 PESTLE ANALYSIS: EUROPE
                       FIGURE 44 EUROPE AMMUNITION MARKET SNAPSHOT
                       TABLE 76 EUROPE: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 77 EUROPE: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 78 EUROPE: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 79 EUROPE: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 80 EUROPE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 81 EUROPE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 82 EUROPE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 83 EUROPE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 84 EUROPE: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 85 EUROPE: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 86 EUROPE: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 87 EUROPE: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 88 EUROPE: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 89 EUROPE: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 90 EUROPE: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 91 EUROPE: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 92 EUROPE: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 93 EUROPE: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 94 EUROPE: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 95 EUROPE: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 96 EUROPE: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.4.3 UK
                       13.4.3.1 Procurement of new generation guided ammunition for defense forces drives market
                                   TABLE 97 UK: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 98 UK: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 99 UK: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 100 UK: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 101 UK: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 102 UK: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 103 UK: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 104 UK: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 105 UK: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.4 FRANCE
                       13.4.4.1 Increased stockpiling of ammunition to train armed forces fuel market growth
                                   TABLE 106 FRANCE: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 107 FRANCE: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 108 FRANCE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 109 FRANCE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 110 FRANCE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 111 FRANCE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 112 FRANCE: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 113 FRANCE: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 114 FRANCE: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.5 RUSSIA
                       13.4.5.1 Increased ammunition procurement due to cross-border conflicts support market growth
                                   TABLE 115 RUSSIA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 116 RUSSIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 117 RUSSIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 118 RUSSIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 119 RUSSIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 120 RUSSIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 121 RUSSIA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 122 RUSSIA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 123 RUSSIA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.6 GERMANY
                       13.4.6.1 Presence of key market players propels demand for ammunition in Germany
                                   TABLE 124 GERMANY: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 125 GERMANY: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 126 GERMANY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 127 GERMANY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 128 GERMANY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 129 GERMANY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 130 GERMANY: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 131 GERMANY: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 132 GERMANY: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.7 ITALY
                       13.4.7.1 Surging demand for ammunition by homeland security agencies of Italy drive market
                                   TABLE 133 ITALY: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 134 ITALY: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 135 ITALY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 136 ITALY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 137 ITALY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 138 ITALY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 139 ITALY: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 140 ITALY: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 141 ITALY: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.8 SPAIN
                       13.4.8.1 Demand for ammunition from law enforcement agencies fuels market growth in Spain
                                   TABLE 142 SPAIN: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 143 SPAIN: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 144 SPAIN: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 145 SPAIN: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 146 SPAIN: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 147 SPAIN: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 148 SPAIN: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 149 SPAIN: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 150 SPAIN: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.4.9 POLAND
                       13.4.9.1 Developments undertaken by ammunition suppliers and government bodies propel market growth
                                   TABLE 151 POLAND: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 152 POLAND: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 153 POLAND: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 154 POLAND: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 155 POLAND: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
               13.4.10 REST OF EUROPE
                                   TABLE 156 REST OF EUROPE: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 157 REST OF EUROPE: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 158 REST OF EUROPE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 159 REST OF EUROPE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 160 REST OF EUROPE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 161 REST OF EUROPE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 162 REST OF EUROPE: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 163 REST OF EUROPE: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
     13.5 ASIA PACIFIC
             13.5.1 COVID-19 IMPACT ON ASIA PACIFIC
             13.5.2 PESTLE ANALYSIS: ASIA PACIFIC
                       FIGURE 45 ASIA PACIFIC AMMUNITION MARKET SNAPSHOT
                       TABLE 164 ASIA PACIFIC: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 165 ASIA PACIFIC: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 166 ASIA PACIFIC: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 167 ASIA PACIFIC: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 168 ASIA PACIFIC: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 169 ASIA PACIFIC: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 170 ASIA PACIFIC: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 171 ASIA PACIFIC: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 172 ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 173 ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 174 ASIA PACIFIC: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 175 ASIA PACIFIC: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 176 ASIA PACIFIC: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 177 ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 178 ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 179 ASIA PACIFIC: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 180 ASIA PACIFIC: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 181 ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 182 ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 183 ASIA PACIFIC: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 184 ASIA PACIFIC: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.5.3 CHINA
                       13.5.3.1 Geopolitical tensions with neighboring countries increase procurement of ammunition
                                   TABLE 185 CHINA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 186 CHINA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 187 CHINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 188 CHINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 189 CHINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 190 CHINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 191 CHINA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 192 CHINA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 193 CHINA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.4 INDIA
                       13.5.4.1 Surging defense budgets fuel market growth in India
                                   TABLE 194 INDIA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 195 INDIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 196 INDIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 197 INDIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 198 INDIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 199 INDIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 200 INDIA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 201 INDIA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 202 INDIA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.5 JAPAN
                       13.5.5.1 Development of high-end indigenous ammunition technology drives market growth
                                   TABLE 203 JAPAN: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 204 JAPAN: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 205 JAPAN: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 206 JAPAN: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 207 JAPAN: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 208 JAPAN: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 209 JAPAN: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 210 JAPAN: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 211 JAPAN: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.6 SOUTH KOREA
                       13.5.6.1 Regional conflicts with neighboring countries fuel demand for ammunition in South Korea
                                   TABLE 212 SOUTH KOREA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 213 SOUTH KOREA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 214 SOUTH KOREA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 215 SOUTH KOREA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 216 SOUTH KOREA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 217 SOUTH KOREA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 218 SOUTH KOREA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 219 SOUTH KOREA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 220 SOUTH KOREA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.7 AUSTRALIA
                       13.5.7.1 Government contracts play major role in fueling market growth
                                   TABLE 221 AUSTRALIA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 222 AUSTRALIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 223 AUSTRALIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 224 AUSTRALIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 225 AUSTRALIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 226 AUSTRALIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 227 AUSTRALIA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 228 AUSTRALIA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 229 AUSTRALIA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.8 SINGAPORE
                       13.5.8.1 Focus on strengthening military capabilities fuel market growth in Singapore
                                   TABLE 230 SINGAPORE: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 231 SINGAPORE: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 232 SINGAPORE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 233 SINGAPORE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 234 SINGAPORE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 235 SINGAPORE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 236 SINGAPORE: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 237 SINGAPORE: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 238 SINGAPORE: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.5.9 INDONESIA
                       13.5.9.1 Modernizing armed forces act as major driver of market
                                   TABLE 239 INDONESIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 240 INDONESIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 241 INDONESIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 242 INDONESIA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 243 INDONESIA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
               13.5.10 VIETNAM
            13.5.10.1 Growth in military capabilities support ammunition market
                                   TABLE 244 VIETNAM: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 245 VIETNAM: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 246 VIETNAM: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 247 VIETNAM: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 248 VIETNAM: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
               13.5.11 REST OF ASIA PACIFIC
                                   TABLE 249 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 250 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 251 REST OF ASIA PACIFIC: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 252 REST OF ASIA PACIFIC: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 253 REST OF ASIA PACIFIC: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 254 REST OF ASIA PACIFIC: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 255 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 256 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
     13.6 MIDDLE EAST
             13.6.1 COVID-19 IMPACT ON MIDDLE EAST
             13.6.2 PESTLE ANALYSIS: MIDDLE EAST
                       FIGURE 46 MIDDLE EAST AMMUNITION MARKET SNAPSHOT
                       TABLE 257 MIDDLE EAST: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 258 MIDDLE EAST: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 259 MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 260 MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 261 MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 262 MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 263 MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 264 MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 265 MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 266 MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 267 MIDDLE EAST: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 268 MIDDLE EAST: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 269 MIDDLE EAST: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 270 MIDDLE EAST: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 271 MIDDLE EAST: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 272 MIDDLE EAST: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 273 MIDDLE EAST: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 274 MIDDLE EAST: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 275 MIDDLE EAST: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 276 MIDDLE EAST: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 277 MIDDLE EAST: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.6.3 SAUDI ARABIA
                       13.6.3.1 Increased defense spending in Saudi Arabia drives market
                                   TABLE 278 SAUDI ARABIA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 279 SAUDI ARABIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 280 SAUDI ARABIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 281 SAUDI ARABIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 282 SAUDI ARABIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 283 SAUDI ARABIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 284 SAUDI ARABIA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 285 SAUDI ARABIA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 286 SAUDI ARABIA: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.6.4 TURKEY
                       13.6.4.1 Focus on strengthening its armed forces fuels market growth
                                   TABLE 287 TURKEY: AMMUNITION MARKET, BY APPLICATION,  2017–2020 (USD MILLION)
                                   TABLE 288 TURKEY: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 289 TURKEY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 290 TURKEY: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 291 TURKEY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 292 TURKEY: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 293 TURKEY: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 294 TURKEY: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 295 TURKEY: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.6.5 ISRAEL
                       13.6.5.1 Adoption of advanced weapon systems to train armed forces fuels market growth
                                   TABLE 296 ISRAEL: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 297 ISRAEL: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 298 ISRAEL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 299 ISRAEL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 300 ISRAEL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 301 ISRAEL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 302 ISRAEL: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                                   TABLE 303 ISRAEL: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 304 ISRAEL: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.6.6 UAE
                       13.6.6.1 Operational readiness of defense forces drives demand for ammunition in the country
                                   TABLE 305 UAE: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 306 UAE: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 307 UAE: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 308 UAE: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                                   TABLE 309 UAE: SMALL CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2021–2026 (USD MILLION)
             13.6.7 REST OF MIDDLE EAST
                       TABLE 310 REST OF MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 311 REST OF MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 312 REST OF MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 313 REST OF MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 314 REST OF MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 315 REST OF MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 316 REST OF MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 317 REST OF MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
     13.7 LATIN AMERICA
             13.7.1 COVID-19 IMPACT ON LATIN AMERICA
             13.7.2 PESTLE ANALYSIS: LATIN AMERICA
                       TABLE 318 LATIN AMERICA: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 319 LATIN AMERICA: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 320 LATIN AMERICA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 321 LATIN AMERICA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 322 LATIN AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 323 LATIN AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 324 LATIN AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 325 LATIN AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 326 LATIN AMERICA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 327 LATIN AMERICA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 328 LATIN AMERICA: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 329 LATIN AMERICA: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 330 LATIN AMERICA: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 331 LATIN AMERICA: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 332 LATIN AMERICA: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 333 LATIN AMERICA: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 334 LATIN AMERICA: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 335 LATIN AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 336 LATIN AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 337 LATIN AMERICA: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 338 LATIN AMERICA: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.7.3 BRAZIL
                       13.7.3.1 Increasing focus on modernizing armed forces support market growth
                                   TABLE 339 BRAZIL: AMMUNITION MARKET, BY APPLICATION,  2017–2020 (USD MILLION)
                                   TABLE 340 BRAZIL: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 341 BRAZIL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 342 BRAZIL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 343 BRAZIL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 344 BRAZIL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 345 BRAZIL: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
             13.7.4 ARGENTINA
                       13.7.4.1 Focus on strengthening capabilities of armed forces fuels market growth
                                   TABLE 346 ARGENTINA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 347 ARGENTINA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 348 ARGENTINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 349 ARGENTINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 350 ARGENTINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 351 ARGENTINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 352 ARGENTINA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
             13.7.5 MEXICO
                       13.7.5.1 Presence of drug cartels and increasing drug trafficking drive demand for small caliber ammunition
                                   TABLE 353 MEXICO: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 354 MEXICO: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 355 MEXICO: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 356 MEXICO: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 357 MEXICO: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 358 MEXICO: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 359 MEXICO: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
     13.8 AFRICA
             13.8.1 COVID-19 IMPACT ON AFRICA
             13.8.2 PESTLE ANALYSIS: AFRICA
                       TABLE 360 AFRICA: AMMUNITION MARKET, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 361 AFRICA: AMMUNITION MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
                       TABLE 362 AFRICA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                       TABLE 363 AFRICA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                       TABLE 364 AFRICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 365 AFRICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 366 AFRICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                       TABLE 367 AFRICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 368 AFRICA: AMMUNITION MARKET, BY CALIBER, 2017–2020 (USD MILLION)
                       TABLE 369 AFRICA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
                       TABLE 370 AFRICA: SMALL CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 371 AFRICA: MEDIUM CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 372 AFRICA: LARGE CALIBER AMMUNITION MARKET, BY TYPE, 2021–2026 (USD MILLION)
                       TABLE 373 AFRICA: AMMUNITION MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
                       TABLE 374 AFRICA: AMMUNITION MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
                       TABLE 375 AFRICA: AMMUNITION MARKET, BY COMPONENT, 2017–2020 (USD MILLION)
                       TABLE 376 AFRICA: AMMUNITION MARKET, BY COMPONENT, 2021–2026 (USD MILLION)
                       TABLE 377 AFRICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2017–2020 (USD MILLION)
                       TABLE 378 AFRICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2021–2026 (USD MILLION)
                       TABLE 379 AFRICA: AMMUNITION MARKET, BY LETHALITY, 2017–2020 (USD MILLION)
                       TABLE 380 AFRICA: AMMUNITION MARKET, BY LETHALITY, 2021–2026 (USD MILLION)
             13.8.3 SOUTH AFRICA
                       13.8.3.1 Replacement of aging military equipment fuels market growth
                                   TABLE 381 SOUTH AFRICA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 382 SOUTH AFRICA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 383 SOUTH AFRICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 384 SOUTH AFRICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 385 SOUTH AFRICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 386 SOUTH AFRICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 387 SOUTH AFRICA: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
             13.8.4 EGYPT
                       13.8.4.1 Focus on multilateral training exercises to strengthen its armed forces drives market
                                   TABLE 388 EGYPT: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 389 EGYPT: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 390 EGYPT: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 391 EGYPT: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 392 EGYPT: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 393 EGYPT: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 394 EGYPT: AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)
             13.8.5 ALGERIA
                       13.8.5.1 Rising threats from terrorist groups and instability with neighboring countries support market growth
                                   TABLE 395 ALGERIA: AMMUNITION MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
                                   TABLE 396 ALGERIA: AMMUNITION MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
                                   TABLE 397 ALGERIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 398 ALGERIA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 399 ALGERIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2017–2020 (USD MILLION)
                                   TABLE 400 ALGERIA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2021–2026 (USD MILLION)
                                   TABLE 401 ALGERIA AMMUNITION MARKET, BY CALIBER, 2021–2026 (USD MILLION)

14 COMPANY LANDSCAPE (Page No. - 272)
     14.1 INTRODUCTION
               FIGURE 47 KEY MARKET PLAYERS ADOPTED CONTRACTS AS KEY GROWTH STRATEGY FROM 2017 TO JULY 2021
     14.2 MARKET RANKING ANALYSIS OF KEY PLAYERS, 2020
               FIGURE 48 RANKING ANALYSIS OF TOP 10 PLAYERS: AMMUNITION MARKET, 2020
     14.3 MARKET SHARE OF KEY PLAYERS, 2020
               FIGURE 49 MARKET SHARE ANALYSIS 2020
               FIGURE 50 REVENUE ANALYSIS OF KEY MARKET PLAYERS, 2016-2020
     14.4 COMPANY PRODUCT FOOTPRINT ANALYSIS
               TABLE 402 COMPANY PRODUCT FOOTPRINT
               TABLE 403 COMPANY APPLICATION FOOTPRINT
               TABLE 404 COMPANY REGION FOOTPRINT
     14.5 COMPANY EVALUATION QUADRANT
             14.5.1 STAR
             14.5.2 EMERGING LEADERS
             14.5.3 PERVASIVE
             14.5.4 PARTICIPANT
                       FIGURE 51 AMMUNITION MARKET: COMPANY EVALUATION MATRIX, 2020
     14.6 START-UP/SME EVALUATION QUADRANT
             14.6.1 PROGRESSIVE COMPANY
             14.6.2 RESPONSIVE COMPANY
             14.6.3 STARTING BLOCK
             14.6.4 DYNAMIC COMPANY
                       FIGURE 52 AMMUNITION MARKET COMPETITIVE LEADERSHIP MAPPING, 2020
                       14.6.4.1 COMPETITIVE BENCHMARKING
                                   TABLE 405 AMMUNITION MARKET: DETAILED LIST OF KEY STARTUP/SMES
                                   TABLE 406 AMMUNITION MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
     14.7 COMPETITIVE SITUATIONS AND TRENDS
             14.7.1 NEW PRODUCT LAUNCHES AND DEVELOPMENTS
                       TABLE 407 NEW PRODUCT LAUNCHES AND DEVELOPMENTS, 2018-2021
             14.7.2 CONTRACTS
                       TABLE 408 AMMUNITION MARKET: DEALS, 2018–2021

15 COMPANY PROFILE (Page No. - 296)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
     15.1 KEY PLAYERS
             15.1.1 NORTHROP GRUMMAN CORPORATION
                       TABLE 409 NORTHROP GRUMMAN CORPORATION: BUSINESS OVERVIEW
                       FIGURE 53 NORTHROP GRUMMAN CORPORATION: COMPANY SNAPSHOT
             15.1.2 GENERAL DYNAMICS CORPORATION
                       TABLE 410 GENERAL DYNAMICS CORPORATION: BUSINESS OVERVIEW
                       FIGURE 54 GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT
                       TABLE 411 GENERAL DYNAMICS CORPORATION: PRODUCTS OFFERED
             15.1.3 NAMMO AS
                       TABLE 412 NAMMO AS: BUSINESS OVERVIEW
                       FIGURE 55 NAMMO AS: COMPANY SNAPSHOT
                       TABLE 413 NAMMO AS: PRODUCTS OFFERED
             15.1.4 BAE SYSTEMS
                       TABLE 414 BAE SYSTEMS: BUSINESS OVERVIEW
                       FIGURE 56 BAE SYSTEMS: COMPANY SNAPSHOT
                       TABLE 415 BAE SYSTEMS: DEALS
             15.1.5 THALES GROUP
                       15.1.5.1 Business overview
                                   TABLE 416 THALES GROUP: BUSINESS OVERVIEW
                                   FIGURE 57 THALES GROUP: COMPANY SNAPSHOT
             15.1.6 AMMO INCORPORATED
                       TABLE 417 AMMO INC: BUSINESS OVERVIEW
                       TABLE 418 AMMO INC: DEALS
             15.1.7 ARSENAL JSCO.
                       TABLE 419 ARSENAL JSCO: BUSINESS OVERVIEW
             15.1.8 CBC GLOBAL AMMUNITION
                       TABLE 420 CBC GLOBAL AMMUNITION: BUSINESS OVERVIEW
                       TABLE 421 CBC GLOBAL AMMUNITION: PRODUCT OFFERED
             15.1.9 CHEMRING GROUP PLC
                       TABLE 422 CHEMRING GROUP PLC: BUSINESS OVERVIEW
             15.1.10 DENEL SOC LTD.
                       TABLE 423 CHEMRING GROUP PLC: BUSINESS OVERVIEW
             15.1.11 ELBIT SYSTEMS LTD.
                       TABLE 424 ELBIT SYSTEMS: BUSINESS OVERVIEW
                       FIGURE 58 ELBIT SYSTEMS LTD.: COMPANY SNAPSHOT
                       TABLE 425 ELBIT SYSTEMS: PRODUCTS OFFERED
                       TABLE 426 ELBIT SYSTEMS: DEALS
             15.1.12 FIOCCHI MUNIZIONI SPA
                       TABLE 427 FIOCCHI MUNIZIONI SPA: BUSINESS OVERVIEW
             15.1.13 HANWHA CORPORATION
                       TABLE 428 HANWHA CORPORATION: BUSINESS OVERVIEW
                       TABLE 429 HANWHA CORPORATION: PRODUCTS OFFERED
             15.1.14 HERSTAL GROUP (FN HERSTAL)
                       TABLE 430 HERSTAL GROUP (FN HERSTAL): BUSINESS OVERVIEW
                       TABLE 431 HERSTAL GROUP (FN HERSTAL): PRODUCTS OFFERED
             15.1.15 HORNADY
                       TABLE 432 HORNADY: BUSINESS OVERVIEW
                       TABLE 433 HORNADY: PRODUCTS OFFERED
             15.1.16 MAXAM (EXPAL)
                       TABLE 434 MAXAM (EXPAL): BUSINESS OVERVIEW
                       FIGURE 59 MAXAM (EXPAL): COMPANY SNAPSHOT
                       TABLE 435 MAXAM (EXPAL): PRODUCTS OFFERED
             15.1.17 NEXTER
                       TABLE 436 NEXTER: BUSINESS OVERVIEW
                       TABLE 437 NEXTER: PRODUCTS OFFERED
             15.1.18 NORINCO
                       TABLE 438 NORINCO: BUSINESS OVERVIEW
                       TABLE 439 NORINCO: PRODUCTS OFFERED
             15.1.19 OLIN CORPORATION
                       TABLE 440 OLIN CORPORATION: BUSINESS OVERVIEW
                       FIGURE 60 OLIN CORPORATION: COMPANY SNAPSHOT
             15.1.20 POONGSAN CORPORATION
                       TABLE 441 POONGSAN CORPORATION: BUSINESS OVERVIEW
             15.1.21 RUAG GROUP (RUAG AMMOTEC)
                       TABLE 442 RUAG GROUP (RUAG AMMOTEC): BUSINESS OVERVIEW
             15.1.22 REMINGTON OUTDOOR COMPANY
                       TABLE 443 REMINGTON OUTDOOR COMPANY: BUSINESS OVERVIEW
             15.1.23 RHEINMETALL AG
                       TABLE 444 RHEINMETALL AG: BUSINESS OVERVIEW
                       FIGURE 61 RHEINMETALL AG: COMPANY SNAPSHOT
             15.1.24 ROSOBORONEXPORT
                       TABLE 445 ROSOBORONEXPORT: BUSINESS OVERVIEW
             15.1.25 SIERRA BULLETS
                       TABLE 446 SIERRA BULLETS: BUSINESS OVERVIEW
             15.1.26 SIG SAUER
                       TABLE 447 SIG SAUER: BUSINESS OVERVIEW
             15.1.27 ST ENGINEERING
                       TABLE 448 ST ENGINEERING: BUSINESS OVERVIEW
             15.1.28 VISTA OUTDOOR INC.
                       TABLE 449 VISTA OUTDOOR: BUSINESS OVERVIEW
                       FIGURE 62 VISTA OUTDOOR INC.: COMPANY SNAPSHOT
             15.1.29 YUGOIMPORT-SDPR J.P.
                       TABLE 450 YUGOIMPORT-SDPR J.P.: BUSINESS OVERVIEW

*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.

16 APPENDIX (Page No. - 377)
     16.1 DISCUSSION GUIDE
     16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     16.3 AVAILABLE CUSTOMIZATIONS
     16.4 RELATED REPORTS
     16.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the Ammunition Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Small Arms Survey, SIPRI report, UN Comtrade, World Bank, Factiva, Bloomberg, BusinessWeek, SEC filings, annual reports, press releases & investor presentations of companies, certified publications, and articles by recognized authors were referred to for identifying and collecting information on the Ammunition Market.

Primary Research

The ammunition market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and component suppliers in its supply chain. The demand side of this market is characterized by various end-users such as commercial, law enforcement agencies, and armed forces of different countries. The supply side is characterized by suppliers, manufacturers, solution providers, technology developers, alliances, and organizations. The following is the breakdown of the primary respondents that were interviewed to obtain qualitative and quantitative information about the Ammunition Market.

Ammunition Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the ammunition market. These methods were also used extensively to estimate the size of various segments and subsegment of the market. The research methodology used to estimate the market size included the following:

  • Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Ammunition Market Size: Bottom-Up Approach

Ammunition Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall size of the Ammunition Market using the market size estimation processes explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from demand as well as supply sides of the ammunition market.

Report Objectives

  • To define, describe, segment, and forecast the size of the ammunition market based on application, caliber, guidance, product, component, lethality, and region for the forecast period from 2021 to 2026
  • To forecast the size of various segments of the ammunition market with respect to 6 major regions namely, North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the ammunition market
  • To identify the opportunities for stakeholders in the market by identifying key market and technology trends
  • To analyze competitive developments such as contracts, agreements, acquisitions & partnerships, new product launches & developments, and Research & Development (R&D) activities in the ammunition market.
  • To anticipate the status of the ammunition procurements by different countries, number of their military personnel, and their defense spending; technological advancements in ammunition; and joint developments undertaken by leading players to analyze the degree of competition in the market
  • To provide a comprehensive competitive landscape of the ammunition market, along with an overview of the different strategies adopted by the key market players to strengthen their position in the market

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Market sizing and forecast for additional countries
  • By application, by caliber breakdown at country level
  • Additional five companies profiling
  • Volume analysis of medium and large-caliber ammunition

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company in the ammunition Market
Report Code
AS 2541
Published ON
Apr, 2022
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