Jun 23, 2020 (The Expresswire) -- The globalsmall caliber ammunition marketis anticipated to gain impetus from the ever-increasing usage of zinc and copper alloys for covering bullets. It not only enhances performance, but also provides jacket. Besides, the adoption of smokeless bullets has upsurged as they produce high pressure and temperatures, which, in turn, delivers more friction. This information is provided by Fortune Business Insights™ in a recent report, titled,“ Small Caliber Ammunition Market Size, Share and Industry Analysis, By Caliber (223 Remington, 308 Winchester, 9mm Luger, 45 Auto/ACP, 380 ACP, 357 Magnum, 10 Gauge, 12 Gauge, 40 SandW, 20 Gauge, 22LR, 50 BMG, 6.5 Grendel, 7.62*39/54r, and Others), By Application (Commercial (Shooting Sports and Hunting, and Self-defense), Military and Homeland Security), By Bullet Type (Lead, Copper, Brass, and Others), and Regional Forecast, 2019-2026 .” The report further states that the small caliber ammunition market size was USD 8.00 billion in 2018 is projected to reach USD 8.86 billion by 2026, exhibiting a CAGR of 1.40% during the forecast period.
Global COVID-19 Impact:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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To Get the Short-Term and Long-Term Impact of COVID-19 on Small Caliber Ammunition Market,
This Report Answers the Following Questions:
What are the small caliber ammunition market trends, opportunities, and challenges?
How many companies are expected to lead the market in terms of revenue?
Which segment is set to dominate the market based on share?
What are the significant strategies adopted by key companies to intensify competition?
What are the growth drivers and hindrances that the market may come across in future?
Rising Terrorist Activities Worldwide to Propel Growth
Rising demand for small caliber ammunition from military forces worldwide is a major factor that is likely to affect the market positively in the coming years. Apart from that, this type of ammunition is used for personal safety. Coupled with this, the rising terrorist activities occurring in many countries would contribute to the small caliber ammunition market growth in the coming years. Shotguns and handguns are mainly preferred by safety.
Therefore, these calibers are exhibiting exponential demand owing to the requirement of people for their revolvers and pistols. In many parts of the world, the increasing production of handguns, as well as rising export and import are skyrocketing demand. Additionally, increasing number of training courses and shooting competitions are likely to contribute to the growth. However, there are restrictions in the international trade of this type of ammunition because of the stringent norms put forward by many regulatory authorities.
Browse Detailed Research Insights with Table of Content:
Ability to Remain Consistent will Drive Growth of the Copper Segment
Based on bullet type, the market is categorized into brass, copper, lead, and others. Out of these, the copper segment held 42% small caliber ammunition market share in 2018. It is likely to experience an astonishing growth in the forthcoming years. This growth is attributable to their possession of various advantages, such as lightweight, rapid expansion, and consistency. The lead segment would grow significantly owing to its usage in several applications, namely, shooting target points, shooting bottles or cans, self-defense, and hunting.