The global ammunition market is projected to grow from USD 18.08 Billion in 2016 to USD 21.98 Billion by 2021, at a CAGR of 3.98% from 2016 to 2021. The base year considered for the study is 2015, and the forecast period is from 2016 to 2021.

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The report provides an in-depth market intelligence regarding market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the global ammunition market, along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall market. The report also covers competitive developments, such as long-term contracts, new product launches, agreements, and research & development activities taking place in the global ammunition market.

Factors, such as territorial conflicts, geopolitical tensions, and need of ammunition for personal safety and shooting sports, among others are the factors driving the growth of the global ammunition market during the forecast period. In addition, military modernization programs being carried out by emerging economies across the globe are further expected to fuel the growth

Increased presence of defense forces across the globe, along with growing number of conflicts in several parts of the world including North Africa, the Middle East, and Latin America, is the factors expected to drive the growth of the defense applications.

The small caliber segment of the global ammunition market is projected to grow at the highest CAGR during the forecast period, owing to increased usage of small caliber ammunition by civilians and homeland security personnel due to their less lethality. Moreover, open online marketplaces for small arms and ammunition also act as major factors contributing towards the growth of the small caliber ammunition segment of the global ammunition market during the forecast period.

There has been a significant increase in military expenditures in the Middle East region in the recent years. As a result, industries related to military products have been witnessing significant growth in the region. Over the past decades, production of arms has also increased in the Middle East region, thereby becoming a major business for the key countries of the region.

Key players: Orbital ATK Inc. (U.S.), Olin Corporation (U.S.), General Dynamics Corporation (U.S.), BAE Systems (U.K.), Remington Arms Company, LLC (U.S.), and Nammo AS (Norway), among others.