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The global Small caliber ammunition market size is projected to reach USD 8,808.9 million by 2027, exhibiting a CAGR of 1.72% during the forecast period. Surging gun and ammunition sales amid the COVID-19 pandemic in the US will benefit this market in 2020, According to the Brookings Institute, in the first half of 2020, 19 million firearms were sold in the US. The National Shooting Sports Foundation reported an 87% increase in gun sales and 92% spike in ammunition sales in early 2020. As per the report findings, the global market value stood at USD 8,140.0 million in 2019. The salient highlights of the report include: • Broad overview of the industry outlook and trends; • Granular examination of all market segments; • Actionable research into the factors driving and restraining the market; and • Detailed evaluation of the regional developments and competitive landscape of the market. Restraining Factor Restrictive Gun Laws in Different Countries May Inhibit Market Growth Gun ownership laws have evolved over the past several decades across countries, becoming more restrictive with growing instances of gun violence. For example, gun laws have grabbed attention in the US owing to the recent instances of mass shootings in the country. The right to possess firearms is constitutionally protected in the US under the Second Amendment, but misuse of this right has forced the US Supreme Court to impose prohibitions on gun ownership and usage. Regional Insights High Demand for Firearms in the US to Propel the North America Market At USD 4,412.9 million, North America dominated the small caliber ammunition market share in 2019 and the region is expected to hold its leading position in the global market during the forecast period. In Asia Pacific, the primary growth driver is the increasing intensity of cross-border tensions between major military spenders such as India and China. Meanwhile, in Europe the demand for small ammunitions is being driven by the rising investments in defense technologies by private companies in the region. Competitive Landscape Contractual Partnerships between Key Players and Defense Agencies to Spur Competition Leading companies are singularly focused on securing contracts from governmental defense agencies to strengthen their hold on the market. These contracts are also enhancing the innovation capacities of the key market players, which in turn are allowing them to diversify their products and expand globally. Industry Developments: • June 2020: Thales Group inked a 10-year-long Strategic Domestic Munitions Manufacturing contract with the Government of Australia of an estimated value of USD 686.7 million to supply munitions and small arms to the Australian Defense Force. • June 2020: Winchester Ammunition bagged a USD 38 million contract from the US Department of Defense (DoD) to deliver frangible 9mm ammunition for indoor and outdoor close-quarter battle (CQB) training. List of Key Companies Profiled in the Small Caliber Ammunition Market Report: • Vista Outdoor, Inc. (The U.S.) • Remington Arms Company, LLC. (The U.S.) • Olin Corporation (The U.S.) • Nammo AS (Norway) • Denel SOC Ltd (South Africa) • Aguila Ammunition (Mexico) • Sellier & Ballot (Czech Republic) • RAUG Group (Switzerland) • Northrop Grumman Corporation (The U.S.) • General Dynamics Corporation (The U.S.) • BAE Systems (The U.K) Browse Summary https://www.fortunebusinessinsights.com/small-caliber-ammunition-market-102795

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