Small Caliber Ammunition Market: Trends, Growth Drivers, and Future Outlook 2022-2030
The global small caliber ammunition market size is expected to reach USD 11.30 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of - 0.7% from 2022 to 2030. This growth can be attributed to rising defense expenditure by countries across the world. In addition, a rise in hunting and sporting activities is expected to aid the industry growth. The components for small caliber ammunition include cartridge casing, propellant, bullet lead, bullet penetrator, primer, and primer. The raw material suppliers provide customer-specific customized solutions. Furthermore, factors influencing value addition in this stage include price, availability of materials, cost position, quality, delivery timelines, and product innovation. The small caliber ammunition industry is witnessing a huge rise in stockpiling trends owing to the emergence of warlike situations across the globe, driven by rising geopolitical tension and te...