Advanced Materials Industry Ammunition Market Insights, 2016 to 2024 | Page 2

Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future High expenditure on research & development of non-lethal ammunition such as beanbag rounds, wax bullets, rubber bullets, plastic bullets, etc. for use by the police force should fuel market demand. Surging demand for ammunitions will create new market segments in the coming years, owing to robust demand from personal security and riot control units. Popularity of hunting as a sport & leisure activity will drive the global market. However, demand in developed nations is declining owing to insufficient defense budgets. The U.S. along with many European nations have taken steps to de-militarize themselves, in the aftermath of prolonged wars in Afghanistan and Iraq. This along with the global economic turmoil could inhibit market growth throughout the forecast period. The global ammunition market can be segmented on the basis of products, applications, and regions. As per products, the ammunition market is divided into bullets, mortar, rocket and others. The segment for bullets reigned in 2015, holding over 54% of the total market share. This segment mainly includes small caliber bullets that are used in civil applications. Revolvers, pistols, rifles, and shotguns are the most common types of arms used for civil purposes. Emerging economies exhibit high demand for personal security from private end-users. Rockets and mortars are consumed by the defense and military. Applications are either civil or defense. Civil applications include self-defense, law enforcement, and sports & hunting. They accounted for about 75% of the market revenue in 2015. Civil uses are deemed to grow at the fastest pace. This may be attributed to the escalating demand for small caliber products for sporting, hunting, and self-defense. Main geographical segments include North America, Asia Pacific, Europe, Latin America and MEA (the Middle East & Africa). Asia Pacific was the largest regional market in 2015. It is likely to grow at a CAGR of 4.6% throughout the forecast period. Terrorist hot-spots such as India call for initiatives to strengthen the defense system. This will fuel the demand for ammunitions. Contact: [phone] Email : [email protected] Website: http://www.hexaresearch.com/