commercialized segment and a significant contributor in the countries’ economy. In the context of R&D,
innovation and production, the U.S ranks on top.
Product Insights
The major product segment in 2015 was bullets which accounted for 53.9% of the total market share. Bullets
are mostly utilized by the civilians and criminal organizations. Small caliber bullets utilized in domestic end-use
is a key contributor in the segment.
Domestic end-use utilizes numerous armories which comprises of rifles, handguns, pistols and shotguns. The
demand is also fueled by the growth in personal end-use for security from developing economies. Other
segments are mostly consumed by the defense and military departments. Upsurge in procurement of armories
can be attributed to the upswing in terrorist activities or terrorism.
End-Use Insights
Civil or domestic was the most noticeable segment which accounted for 74.5% of the total revenue share. The
domestic segment is expected to observe a substantial rise as a result of high growth from hunting & sports
activities in the near future. The domestic segment comprises of sports & hunting, self-defense and law
enforcement.
Outdoor and adventure activity is massive occupation in North America, specifically in the U.S. According to the
latest study conducted by U.S. Fish and Wildlife Services, Americans spend around USD 50 billion on hunting
and sports activities in 2015. All these aspects enhance the complete growth of the ammunition industry.
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Regional Insights
Asia Pacific, which is projected to grow at a CAGR of 4.5%, also accounted for the highest share in 2015 and is
projected to continue the trend over the forecast period. The upsurge of terrorism activities in developing
economies such as India is resulting in the strengthening of the overall defense system of the country. India
signed several contracts valued at USD 15 billion to buy armories in March, 2016.
Production of small armories and weapons is a leading industry in Europe as a result of which it has retained its
position as one of the key arms exporter across the globe. Key countries in Europe consists of the U.K, France,
Germany and Russia.