The global ammunition market is predicted in a report by Transparency Market Research (TMR) to testify a high demand for small caliber rounds attracting increased attention from players. Rising requirement of arms and ammunition in Europe and Asia Pacific is creating ample of opportunities for players to cash in on. The market marks the presence of top companies such as General Dynamics Corporation, Nammo AS, and Fiocchi Munizioni S.p.A. Demand for ammunition ramping up in Asia Pacific and other emerging regions could be an area of high interest as players look to up the distribution and sales of their products.
TMR prognosticates the global ammunition market to earn an around US$14.8 bn by the completion of 2021. By caliber, small caliber ammunition could take hold of a larger share of the market while expanding to a US$4.3 bn by the final forecast year. By region, Europe is anticipated to secure a top position of the market, bagging close to a US$5.1 bn by the same year.
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Demand for ammunition is expected to surge as most countries on the planet have been facing peacekeeping and defense issues for quite some time now. Asia Pacific countries in particular are observed to make desperate efforts to significantly expand their ammunition base. Pakistan, South Korea, China, and India could come under the spotlight as they have been looking to collect more military weapons in the recent years. Furthermore, rising number of violent disputes and terrorist attacks are persuading nations to increase their military power.
Besides Asia Pacific, the Middle East and Africa has been increasing the demand in the world ammunition market through its swelling consumption. At present, Russia is said to be among leading nations of the world consuming ammunition on a large scale. Moreover, it is said to be a top ammunition exporter to Asia Pacific countries.
Entered into force in 2014, the Arms Trade Treaty (ATT) gives strength to a number of policies and regulations implemented for ammunition manufacturers. The regulations need to be thoroughly followed if manufacturers are to receive a nod from authorities for ammunition sales. ATT relates to maintaining complete transparency in action, national and social cooperation, and peace in the world. It aims at controlling weapons count and the trade of international as well as traditional weaponry.
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Steady demilitarization of forces initiated by European and North American nations post the end of Afghanistan and Iraq wars could also be factored in when assessing growth deterrents of the international ammunition market. However, intensifying arms competition and rising terrorism in the Middle East and Asia Pacific are prophesied to substantially increase the demand for ammunition.