Military Ammunition Market to Witness Vigorous Expansion by 2025


Posted November 23, 2020 by bisrsrch

Focus on Platform (Land Force, Navy and Air Force), Product (Missile, Rocket, Artillery Shell, Bomb, Mortar Ammunition, Bullet, and Grenade), and Guidance - Analysis and Forecast, 2020-2025
 
The global slowdown that began due to the outbreak of the novel COVID-19 had a deep impact on all industries. The governments are forced to freeze all operations that involve transport and mass gathering to counter the COVID-19 pandemic. The restriction impacted the flow of the supply chain in all industries, and the defense industry is no exception. But the impact of COVID-19 on the defense industry is significantly low due to the heavy funding by the governments as it directly concerns national security. It is to be assumed that since governments are focusing more on boosting the healthcare industry for future pandemic readiness, every other industry has to experience slight cutbacks in orders to compensate for extra investments in the healthcare industry. However, this is not the case for every country.

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Hence, it can be observed that COVID-19 might impact defense spending in a few countries. The military ammunition market is less affected when compared to other markets, as the funding has already been allocated to all major contracts for munition modernization and procurements. However, there might be a delay in the delivery of these contracts due to the various restrictions imposed by the governments.

Rising tensions due to geopolitical issues and increasing demand for advanced munitions in military are the major drivers of the global military ammunition market in the forecast period. Increasing defense budgets in emerging countries is expected to create an ample opportunity for the major defense players to expand their presence in these countries.

Armed forces use different types of munitions as per the operation and requirement. Global military ammunition includes seven major sub-divisions: bullets, aerial bombs, grenades, artillery shells, rockets, missiles, and mortar ammunition. The following table illustrates the market value of the global military ammunition market by product type. The global military ammunition market is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share. The competitive landscape of the global military ammunition market exhibits an inclination toward emerging strategies and developments by market players.

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The global military ammunition market has some of the prominent players who constantly adopt new strategies to enhance their market presence and increase their annual revenue. The prominent players in the military ammunition market adopted strategies such as product launch, contracts, mergers, and acquisitions to expand their market presence in 2019. The companies are also involved in other developments that include demonstration, integration, and business expansion, among others. The military ammunition market is highly competitive and requires manufacturers to constantly innovate and develop cutting-edge products. The existing companies, as well as new entrants, which will develop next-generation solutions to cater the need for future applications, could benefit from the global military ammunition market.

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Issued By BIS RSRCH
Country United States
Categories Marketing , News , Technology
Tags military ammunition market
Last Updated November 23, 2020