Albany, New York (PRWEB) July 03, 2013
The global ammunitions market is witnessing significant growth in the past few years due to increasing conflicts abroad and rise in domestic crime rates. Modernization in the army equipments in developed and developing economies is also expected to drive the growth of the global ammunitions market.
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The need for maintaining a professional army and their training requirement has led to the growth in demand for ammunition. Additionally, development in technology and the need to reduce collateral damage and reduce civilian casualties in war has resulted in the growing demand for sophisticated precision guided munitions. Increasing investments in ammunitions by Russia, Middle East, and Asian nations is expected to boost the ammunitions market; however, end of conflict and removal of troops from Afghanistan, and troop size reduction is expected to reduce the requirement for ammunition.
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The high cost associated with maintaining and running a product line in a profitable way, while investing in new technology and maintaining a skilled workforce for meeting customer demands, is the major challenge faced by this industry. The global ammunitions market is segmented depending on ammunition type as large caliber ammunition, medium caliber ammunition, small caliber ammunition, artillery ammunition, and mortar ammunition. Product segments of ammunition market include – bombs, missiles, heavy military vehicles, small arms, and other ammunitions.
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Decrease in the defense budgets in most western countries is expected to impact the ammunitions market. This has forced the ammunition industries in the west to look for other potential markets to offset the decrease in demand. The ammunitions industry is fragmented as most countries are maintaining their own manufacturing capabilities to help them in maintaining strategic autonomy in decision making.
Some of the major players engaged in the manufacturing of ammunitions include Alliant Techsystems Inc. (ATK), Freedom Group Inc, General Dynamics, Rheinmetall Defence, BAE Systems, and Nexter among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Rest of the World
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