Go back to the full 2020 sector outlook. The global ammunition market size was estimated at USD 20.40 billion in 2019 and is expected to exhibit a CAGR of 3.9% from 2020 to 2027. While the Wadcutter bullets are predominantly used for practice and competition rounds owing to its high influence on precision and power, whereas semi-wadcutter bullets are preferred by personnel for self-defense.Rimfire ammunition is expected to register a CAGR of 3.7% over the forecast period on account of rising demand from amateur shooters owing to limited recoil feature offered by the product. This website is secure and your personal details are safe. Air-force tends to use hollow-point ammunition owing to its greater accuracy, whereas full metal jacket ammunition is used at a larger scale in military handguns.Civil and commercial segment is expected to witness substantial CAGR of 4.5% in the forthcoming years, owing to rising demand for applications such as hunting, and shooting.
In addition, the government is employing efforts to reduce the procurement lead time of defense equipment for militaries, thereby providing aid to the regional market growth.Key companies, such as General Dynamic Corporation, Northrop Grumman, and BAE Systems, generate the majority of their revenues through military and government channels. It also plays a vital role in maintaining the optimal performance and firearm safety.Superior features offered by .44 caliber lead nose bullet, such as high penetration and velocity is increasing its application in skeet shooting and trapshooting. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. This report focuses on the highest players within the global Smart Gun market.About Smart GunA smart gun is a weapon that has more components than the standard mechanical parts and allows only authorized users to operate the weapon.Our analysts forecast the global smart gun market to grow at a CAGR of 6.86% during the period 2018-2022.The scope of the report covers all the main system technologies that are currently being implemented within the global Smart Gun industry. Governments of several countries especially India are planning to expand their defense capabilities through foreign procurement and development of indigenous production facilities over the next decade.Small caliber ammunition held the dominant market share of 50.7% in 2019, owing to vast applications such as rifles, revolvers, shotguns pistols, and assault rifles. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. Moreover, Iron ore producers are known to be the least impacted. This year began with the manufacturing industry just starting to gain some momentum when the COVID-19 pandemic hit. Rapid rise in procurement of defense equipment by militaries across the globe on account of growing hostilities and terrorist activities is expected to drive the demand.Small caliber ammunition is emerging as one of the fastest moving segment owing to rise in demand for mild sports shooting activities using pistols and rifles. Our midyear outlook focuses on three manufacturing industry trends to follow in the second half of 2020 as companies attempt to recover and thrive. The aforementioned trends are projected to heighten the demand for design, development and manufacturing advanced weapons, thereby creating growth opportunities for the market.Defense sector accounted for 88.5% of the overall revenue share in 2019 and is expected to dominate the market over the forecast period. Rimfire is used for range plinking and varmint hunting, however, it is not preferred for personal defense. Upstream raw materials and equipment and downstream demand analysis is additionally administered. This trend is further expected to enable soldiers to carry more rounds of ammunition with the same weight, thereby positively influencing the overall market growth.Rapid growth of illegal weapon trade is expected to supplement conflicts and are also likely to heighten civilian casualties.
Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. The gun industry has been under fire in recent years due to the increased media coverage of horrific crimes being committed throughout the United States with firearms.
Opportunities associated with these programs include roles as the provider of sub-system or component and program integrator.North America, Europe, Asia Pacific, Middle East & Africa, South & Central AmericaU.S., Canada, Mexico, Germany, U.K., France, Turkey, Spain, Russia, Czech Republic, Poland, China, India, Japan, South Korea, Australia, Singapore, Brazil, Argentina, Saudi Arabia, UAERevenue forecast, competitive landscape, growth factors and trends15% free customization scope (equivalent to 5 analysts working days)If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customizationThis report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2016 to 2027. Midyear 2020 outlook: Understanding new manufacturing industry trends. In addition, technological advancements such as development of light weight bullets using polymer casing is expected to further aid the growth.High procurement of small caliber ammunition by homeland security department and civilians owing to lesser lethality as compared to other ammunition is expected to bolster the overall market growth.
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