Ammunition is an object that can be discharged from a weapon. Types of ammunition include bullets, bombs, land mines, missiles, grenades, and others. Guided ammunition is also refereed as smart bombs as guided ammunition are capable of hitting target precisely, hence reducing possibility of collateral damage. Types of guided ammunition includes inertial guided ammunition, satellite guided ammunition, laser-guided ammunition, and others. The size of ammunition is expressed in terms of calibre. Ammunition are designed according to the weapons from which it would be used. Ammunitions that are less than calibre 20 mm are categorized as small arm and larger calibre ammunitions are considered as artillery.
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Major Market Players:
Northrop Grumman Corporation, BAE Systems, General Dynamics Corporation, Olin Corporation., Nammo AS, Hanwha Group., Denel SOC Ltd, VISTA OUTDOOR OPERATIONS LLC., Rheinmetall AG, ST Engineering, and Thales Group
Increasing military budget in developing countries, growing terrorism activities, rising warlike situations, and rising geopolitical disputes & conflicts among neighboring countries are some of the major factors that drive the guided ammunition market. However, formulation & stringent implementations of gun control legislation are hampering the market growth. On the contrary, development of lightweight ammunition and increasing research & development to develop advance ammunition will contribute further in the growth of the global guided ammunition market.
Unresolved border issues between various countries such as India-China, Iran-USA, and growing tensions over safety of sea trade routes are generating the warlike situations among countries. For instance, standoff between India & China has occurred in June 2020, which was resulted in bilateral loss of lives of soldiers. Such situations are leading to an exponential rise of stockpiling of ammunition. Additionally, purchasing of additional ammunition for stockpiling is also benefits in cost savings. Hence, rising warlike situations is generating demand of guided ammunition and thereby driving the growth of the global guided ammunition market.
Product:
- Bullets
- Aerial Bombs
- Grenades
- Artillery Shells
- Mortars
- Others
Lethality:
- Rubber Bullets
- Bean Bag Rounds
- Smoke Munition
- Flash Bang Rounds
- Plastic Bullets
- Others
Application:
- Defense
- Military
- Homeland Security
- Civil & Commercial
- Sporting
- Hunting
- Self Defense
- Others
COVID-19 Scenario analysis:
- Due to COVID-19 situation, the research & development in guided ammunition companies across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.
- As governments spending shift towards economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for guided ammunitions.
- Production rate of guided ammunition making companies have been affected adversely due to COVID-19 situation.
- Guided ammunition companies facing the temporary operational issues due to the restrictions on site access, imposed by government authorities to contain the spread of virus.
- Post COVID-19, global guided ammunition market will witness a significant growth as several countries have either already ordered or planning to procure guided ammunition for their forces.
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