Small-caliber Ammunition Market

Small-caliber Ammunition Market [Type: Full Metal Jacket Ammunition (FMJ), Tracer Ammunition, Incendiary Ammunition, Armor Piercing Ammunition, Others] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031

Market Outlook 2031

  • The global small-caliber ammunition market size was valued at US$ 5.4 Bn in 2022
  • It is estimated to increase at a CAGR of 4.2% from 2023 to 2031 and reach US$ 7.7 Bn by the end of 2031

Analysts’ Viewpoint

Increased demand for modern small-caliber ammunition in diverse designs for efficient and cost-effective training of soldiers and weapon operators is augmenting the small-caliber ammunition market growth. Infantry forces across the globe have been witnessing continuous tactical combat scenarios and asymmetric warfare, such as military operations in urban areas, and counter-insurgency warfare. This is fueling the medium and small-caliber ammunition industry growth across the globe.

Moreover, rise in usage of small-caliber ammunition by sport shooters, hunters, and law enforcement authorities further propels the demand. Small-caliber ammunitions are widely used for Olympic and World Championship competitions. This is also driving the demand for reduced caliber munitions, worldwide. Furthermore, North America accounted for a prominent small-caliber ammunition market share due to the incorporation of technologically advanced systems and the upgrade and replacement of outdated equipment by defense and homeland agencies in the region.

Small Caliber Ammunition Market

Market Introduction

Small-caliber ammunition, generally less than 20 mm, is used primarily with small arms and light weapons. It mostly comprises cartridges and bullets. Modern small-caliber cartridges include a projectile or bullet, propellant (propel the projectile), primer (contains chemical compounds), and cartridge case. These purpose-built cartridges are designed for a wide range of handheld or mounted weapons, including rifles, pistols, revolvers, machine guns, and shotguns.

Increasing interest in shooting sports and rising expenditure for hunting are boosting the demand for various types of small-caliber ammunition. Moreover, rapid increase in demand for light ammunition weapons for personal safety is further propelling the small-caliber ammunition industry growth.

Rise in Cross-border Conflicts and Geopolitical Tension Augmenting Small-caliber Ammunition Market Demand

Cross-border conflicts are rising due to various factors including lack of control on access to illegal arms and ammunition merchants, lack of clear boundaries and borders, natural resources competition, environmental factors, and insult and assault.

Several cross-border conflicts result in a war between two or more countries. For instance, in February 2022, Russia launched a full-scale invasion of Ukraine. According to the Office of the United Nations High Commissioner for Human Rights (OHCHR), around 8000 civilians have been killed in Ukraine due to the conflict, as of March 2023.

Moreover, in the recent Israel - Palestinian Conflict, around 108 Palestinians were killed by Israeli forces in the West Bank, including East Jerusalem, from the beginning of 2023 until the May 15, 2023. A total of 688 Palestinians, were injured by Israeli forces across the West Bank; 54 of them were shot with live ammunition. Thus, rise in cross-border conflicts and geopolitical tensions among countries is fueling the growth of the small-caliber ammunition industry across the globe.

Increase in Inclination toward Sporting and Hunting Activities Boosting Small-caliber Ammunition Market Value

Surge in interest toward hunting as a sport has been driving the demand for miniature caliber rounds for the last few years. The rifle, pistol, and shotgun are widely used in sporting events such as the Olympics. Rifles and pistols are used to shoot stationary targets generally for indoor games, while shotguns are used for outdoor games. Thus, increasing usage of sporting guns for competitive shooting, recreation, and hunting activities is creating significant small-caliber ammunition market opportunities for manufacturers across the globe.

Rise in awareness about shooting as a sport among people is also prompting key players to develop small bore ammunition to cater to the increased demand. In July 2022, AMMO, Inc. launched Green Streak next generation one-way luminescent ammunition. It is a non-incendiary technology and comprises a patented non-toxic composite that uses light emitted from the ignition of gunpowder to flash charge the rear of the projectile. It provides the shooter with visible traces and masks the location of the firing position from the target’s viewpoint. Green Streak has been designed for commercial, military, and law enforcement applications.

High Demand for Full Metal Jacket Ammunition

In terms of type, the global small-caliber ammunition market segmentation comprises full metal jacket (FMJ) ammunition, tracer ammunition, incendiary ammunition, armor-piercing ammunition, and others. The full metal jacket ammunition segment held a significant market share in 2022, as it exhibits excellent ballistic performance, maintaining both accuracy and speed when fired from a weapon. As a result, it has gained significant popularity, with many manufacturers choosing to produce this type of ammunition.

FMJ rounds are encased in a copper or other metal jacket, thereby preventing lead from depositing in the barrel during firing. This feature enables a higher number of shots to be fired before experiencing a decline in accuracy. Additionally, FMJ ammunition is widely favored for range shooting due to its lower cost as compared to other types of rounds.

Increase in Preference for 7.1 mm to 9 mm Caliber Ammunition

According to the latest small-caliber ammunition market analysis, in terms of caliber, the 7.1 mm to 9 mm segment accounted for largest share of the global business in 2022. The 9 mm cartridge is highly preferred as a sidearm by both law enforcement and military. This round is favored for several reasons such as it is lightweight, comfortable to shoot, compatible with high-capacity staggered-feed magazines, and demonstrates satisfactory terminal performance.

Notably, outside of semi-automatic pistols, the 9mm cartridge is also one of the most popular choices for submachine guns worldwide. Additionally, in civilian contexts, both private citizens and law enforcement personnel commonly utilize 9 mm ammunition for training and range practice.

Regional Small-caliber Ammunition Market Insights

The latest region-wise analysis of the small-caliber ammunition market research report reveals that North America held 42.3% share of the global market in 2022. The U.S. remains committed to modernizing its armed forces to keep pace with emerging technologies and advancements matching those of its adversaries. With the largest defense budget globally, the Department of Defense (DoD) possesses the resources to consistently modernize and enhance its fleet.

In the FY24 budget, approximately US$ 30.6 Bn has been allocated for munitions, representing a significant increase of US$ 5.8 Bn as compared to the previous year. Among these funds, approximately US$ 5.6 Bn has been allocated specifically for ammunition procurement.

The small-caliber ammunition market forecast for Asia Pacific is highly positive. The market is estimated to expand at a rapid pace in the next few years, as prominent countries in the region such as India, China, and Japan have experienced notable rise in their defense expenditures. The main goal behind these increase is to enhance military capabilities, modernize their armed forces, and consistently protect their national sovereignty, security, and development interests.

For instance, the State Council Information Office [SCIO] of the People's Republic of China (PRC) has reported an annual defense budget of approximately US$ 224.79 Bn for the fiscal year 2023, signifying a substantial 7.2% increase as compared to the previous year.

Analysis of Key Players

The global small-caliber ammunition industry is consolidated with a large number of vendors controlling the majority of business share. Prominent firms are following the latest small-caliber ammunition market trends and spending significantly on comprehensive new product developments, research, and launches. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players. CBC Global Ammunition, Elbit Systems Ltd., Nammo AS, BAE Systems Plc, Northrop Grumman Corporation, General Dynamics Corporation, Visa Outdoor Operations LLC, Beretta Holding S.A., and AMMO, Inc. are the leading players operating in the global market.

Key Developments

  • In April 2023, Global Military Products LLC, was awarded a contract of around US$ 4.Bn by the U.S. DoD for the procurement and delivery of ammunition, with an estimated completion date of January 2024.
  • In August 2022, Beretta Holding S.A. completed the acquisition of the Swiss state-owned RUAG Ammotec Group. This acquisition is estimated to help Beretta Holding Group add 16 companies in 12 different countries and 2,700 people in its group. Several high-end brands such as RWS, Norma, Geco, and Rottweil would be added to Beretta Holding’s existing portfolio of premium brands.
  • In April 2019, Northrop Grumman Corporation's wholly owned subsidiary, Alliant Techsystems Operations LLC, was awarded a contract worth approximately US$ 194 Mn by the U.S. Army for small-caliber ammunition. The order encompasses 5.56mm, 7.62mm, and Cal. 50 cartridges and is part of the company's supply contract to manufacture small-caliber ammunition for the U.S. Government at the Lake City Army Ammunition Plant in Independence, Missouri, U.S.

Key players in the small-caliber ammunition market report have been profiled based on various parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

Global Small-caliber Ammunition Market Snapshot

Attribute Detail

Market Size Value in 2022

US$ 5.4 Bn

Market Forecast Value in 2031

US$ 7.7 Bn

Growth Rate 2023-2031 (CAGR)

4.2%

Forecast Period

2023-2031

Historical Data Available for

2017-2021

Quantitative Units

US$ Bn for Value and Million Units for Volume

Market Analysis

It includes cross-segment analysis at the global as well as regional level. Furthermore, the qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.

Competition Landscape

  • Market share analysis by company (2022)
  • Company profiles section includes an overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials

Format

Electronic (PDF) + Excel

Market Segmentation

  • Type
    • Full Metal Jacket Ammunition (FMJ)
    • Tracer Ammunition
    • Incendiary Ammunition
    • Armor Piercing Ammunition
    • Others (Ball, Jacketed Hollow Point (JHP), Blank, etc.)
  • Caliber
    • ≤ 7 mm
    • 7.1 mm to 9 mm
    • 9.1 mm to 12 mm
    • 12.1 mm to 14 mm
  • End-user
    • Military
    • Commercial
    • Law Enforcement Agencies

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Countries Covered

  • U.S.
  • Canada
  • The U.K.
  • Germany
  • France
  • China
  • India
  • Japan
  • South Korea
  • ASEAN
  • GCC
  • South Africa
  • Brazil

Companies Profiled

  • Aguila Ammunition
  • AMMO, Inc.
  • ATS Ammunition Skopje
  • BAE Systems Plc
  • Beretta Holding S.A.,
  • CBC Global Ammunition
  • Elbit Systems Ltd.
  • Fiocchi Munizioni S.p.A.
  • General Dynamics Corporation
  • Nammo AS
  • Northrop Grumman Corporation
  • Poongsan Corporation
  • Visa Outdoor Operations LLC

Customization Scope

Available upon request

Pricing

Available upon request

Frequently Asked Questions

How big was the small-caliber ammunition market in 2022?

The global market was valued at US$ 5.4 Bn in 2022

How is the small-caliber ammunition industry expected to grow by 2031?

It is expected to expand at a CAGR of 4.2% by 2031

How much worth the small-caliber ammunition business will be in 2031?

The global business is likely to reach a value of US$ 7.7 Bn in 2031

Who are the prominent small-caliber ammunition manufacturers?

CBC Global Ammunition, Elbit Systems Ltd., Nammo AS, BAE Systems Plc, Northrop Grumman Corporation, General Dynamics Corporation, Visa Outdoor Operations LLC, Beretta Holding S.A., AMMO, Inc.

How big was the U.S. share in the global small-caliber ammunition sector in 2022?

The U.S. accounted for approximately 33% share in 2022

What was the share of the Full Metal Jacket Ammunition (FMJ) segment in 2022?

Based on type, the full metal jacket ammunition segment held 41.2% share in 2022

What are the prominent trends driving the demand for small-caliber ammunition?

Rise in demand of lead-free or eco-friendly ammunition and reduction of ammunition weight

Which region registered highest demand for small-caliber ammunition?

North America registered highest demand for small-caliber ammunition in 2022

    1. Preface

        1.1. Market and Segments Definition

        1.2. Market Taxonomy

        1.3. Research Methodology

        1.4. Assumption and Acronyms

    2. Executive Summary

        2.1. Global Small-caliber Ammunition Market Overview

        2.2. Regional Outline

        2.3. Industry Outline

        2.4. Market Dynamics Snapshot

        2.5. Competition Blueprint

    3. Market Dynamics

        3.1. Macro-economic Factors

        3.2. Drivers

        3.3. Restraints

        3.4. Opportunities

        3.5. Key Trends

        3.6. Regulatory Scenario

    4. Associated Industry and Key Indicator Assessment

        4.1. Parent Industry Overview - Global Munitions Industry Overview

        4.2. Supply Chain Analysis

        4.3. Pricing Analysis

        4.4. Technology Roadmap Analysis

        4.5. Industry SWOT Analysis

        4.6. Porter Five Forces Analysis

    5. Global Small-caliber Ammunition Market Analysis, by Type

        5.1. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            5.1.1. Full Metal Jacket Ammunition (FMJ)

            5.1.2. Tracer Ammunition

            5.1.3. Incendiary Ammunition

            5.1.4. Armor Piercing Ammunition

            5.1.5. Others

        5.2. Market Attractiveness Analysis, by Type

    6. Global Small-caliber Ammunition Market Analysis, by Caliber

        6.1. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            6.1.1. ≤ 7 mm

            6.1.2. 7.1 mm to 9 mm

            6.1.3. 9.1 mm to 12 mm

            6.1.4. 12.1 mm to 14 mm

        6.2. Market Attractiveness Analysis, by Caliber

    7. Global Small-caliber Ammunition Market Analysis, by End-user

        7.1. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            7.1.1. Military

            7.1.2. Commercial

            7.1.3. Law Enforcement Agencies

        7.2. Market Attractiveness Analysis, by End-user

    8. Global Small-caliber Ammunition Market Analysis and Forecast, by Region

        8.1. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Region, 2017-2031

            8.1.1. North America

            8.1.2. Europe

            8.1.3. Asia Pacific

            8.1.4. Middle East & Africa

            8.1.5. South America

        8.2. Market Attractiveness Analysis, by Region

    9. North America Small-caliber Ammunition Market Analysis and Forecast

        9.1. Market Snapshot

        9.2. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            9.2.1. Full Metal Jacket Ammunition (FMJ)

            9.2.2. Tracer Ammunition

            9.2.3. Incendiary Ammunition

            9.2.4. Armor Piercing Ammunition

            9.2.5. Others

        9.3. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            9.3.1. ≤ 7 mm

            9.3.2. 7.1 mm to 9 mm

            9.3.3. 9.1 mm to 12 mm

            9.3.4. 12.1 mm to 14 mm

        9.4. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            9.4.1. Military

            9.4.2. Commercial

            9.4.3. Law Enforcement Agencies

        9.5. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Country and Sub-region, 2017-2031

            9.5.1. U.S.

            9.5.2. Canada

            9.5.3. Rest of North America

        9.6. Market Attractiveness Analysis

            9.6.1. By Type

            9.6.2. By Caliber

            9.6.3. By End-user

            9.6.4. By Country/Sub-region

    10. Europe Small-caliber Ammunition Market Analysis and Forecast

        10.1. Market Snapshot

        10.2. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            10.2.1. Full Metal Jacket Ammunition (FMJ)

            10.2.2. Tracer Ammunition

            10.2.3. Incendiary Ammunition

            10.2.4. Armor Piercing Ammunition

            10.2.5. Others

        10.3. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            10.3.1. ≤ 7 mm

            10.3.2. 7.1 mm to 9 mm

            10.3.3. 9.1 mm to 12 mm

            10.3.4. 12.1 mm to 14 mm

        10.4. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            10.4.1. Military

            10.4.2. Commercial

            10.4.3. Law Enforcement Agencies

        10.5. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Country and Sub-region, 2017-2031

            10.5.1. U.K.

            10.5.2. Germany

            10.5.3. France

            10.5.4. Rest of Europe

        10.6. Market Attractiveness Analysis

            10.6.1. By Type

            10.6.2. By Caliber

            10.6.3. By End-user

            10.6.4. By Country/Sub-region

    11. Asia Pacific Small-caliber Ammunition Market Analysis and Forecast

        11.1. Market Snapshot

        11.2. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            11.2.1. Full Metal Jacket Ammunition (FMJ)

            11.2.2. Tracer Ammunition

            11.2.3. Incendiary Ammunition

            11.2.4. Armor Piercing Ammunition

            11.2.5. Others

        11.3. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            11.3.1. ≤ 7 mm

            11.3.2. 7.1 mm to 9 mm

            11.3.3. 9.1 mm to 12 mm

            11.3.4. 12.1 mm to 14 mm

        11.4. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            11.4.1. Military

            11.4.2. Commercial

            11.4.3. Law Enforcement Agencies

        11.5. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Country and Sub-region, 2017-2031

            11.5.1. China

            11.5.2. Japan

            11.5.3. India

            11.5.4. South Korea

            11.5.5. ASEAN

            11.5.6. Rest of Asia Pacific

        11.6. Market Attractiveness Analysis

            11.6.1. By Type

            11.6.2. By Caliber

            11.6.3. By End-user

            11.6.4. By Country/Sub-region

    12. Middle East & Africa Small-caliber Ammunition Market Analysis and Forecast

        12.1. Market Snapshot

        12.2. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            12.2.1. Full Metal Jacket Ammunition (FMJ)

            12.2.2. Tracer Ammunition

            12.2.3. Incendiary Ammunition

            12.2.4. Armor Piercing Ammunition

            12.2.5. Others

        12.3. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            12.3.1. ≤ 7 mm

            12.3.2. 7.1 mm to 9 mm

            12.3.3. 9.1 mm to 12 mm

            12.3.4. 12.1 mm to 14 mm

        12.4. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            12.4.1. Military

            12.4.2. Commercial

            12.4.3. Law Enforcement Agencies

        12.5. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Country and Sub-region, 2017-2031

            12.5.1. GCC

            12.5.2. South Africa

            12.5.3. Rest of Middle East & Africa

        12.6. Market Attractiveness Analysis

            12.6.1. By Type

            12.6.2. By Caliber

            12.6.3. By End-user

            12.6.4. By Country/Sub-region

    13. South America Small-caliber Ammunition Market Analysis and Forecast

        13.1. Market Snapshot

        13.2. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Type, 2017-2031

            13.2.1. Full Metal Jacket Ammunition (FMJ)

            13.2.2. Tracer Ammunition

            13.2.3. Incendiary Ammunition

            13.2.4. Armor Piercing Ammunition

            13.2.5. Others

        13.3. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by Caliber, 2017-2031

            13.3.1. ≤ 7 mm

            13.3.2. 7.1 mm to 9 mm

            13.3.3. 9.1 mm to 12 mm

            13.3.4. 12.1 mm to 14 mm

        13.4. Small-caliber Ammunition Market Size (US$ Mn) Analysis & Forecast, by End-user, 2017-2031

            13.4.1. Military

            13.4.2. Commercial

            13.4.3. Law Enforcement Agencies

        13.5. Small-caliber Ammunition Market Size (US$ Mn) and Volume (Million Units) Analysis & Forecast, by Country and Sub-region, 2017-2031

            13.5.1. Brazil

            13.5.2. Rest of South America

        13.6. Market Attractiveness Analysis

            13.6.1. By Type

            13.6.2. By Caliber

            13.6.3. By End-user

            13.6.4. By Country/Sub-region

    14. Competition Assessment

        14.1. Global Small-caliber Ammunition Market Competition Matrix - a Dashboard View

            14.1.1. Global Small-caliber Ammunition Market Company Share Analysis, by Value (2022)

            14.1.2. Technological Differentiator

    15. Company Profiles (Global Manufacturers/Suppliers)

        15.1. Aguila Ammunition

            15.1.1. Overview

            15.1.2. Product Portfolio

            15.1.3. Sales Footprint

            15.1.4. Key Subsidiaries or Distributors

            15.1.5. Strategy and Recent Developments

            15.1.6. Key Financials

        15.2. AMMO, Inc.

            15.2.1. Overview

            15.2.2. Product Portfolio

            15.2.3. Sales Footprint

            15.2.4. Key Subsidiaries or Distributors

            15.2.5. Strategy and Recent Developments

            15.2.6. Key Financials

        15.3. ATS Ammunition Skopje

            15.3.1. Overview

            15.3.2. Product Portfolio

            15.3.3. Sales Footprint

            15.3.4. Key Subsidiaries or Distributors

            15.3.5. Strategy and Recent Developments

            15.3.6. Key Financials

        15.4. BAE Systems Plc

            15.4.1. Overview

            15.4.2. Product Portfolio

            15.4.3. Sales Footprint

            15.4.4. Key Subsidiaries or Distributors

            15.4.5. Strategy and Recent Developments

            15.4.6. Key Financials

        15.5. Beretta Holding S.A.

            15.5.1. Overview

            15.5.2. Product Portfolio

            15.5.3. Sales Footprint

            15.5.4. Key Subsidiaries or Distributors

            15.5.5. Strategy and Recent Developments

            15.5.6. Key Financials

        15.6. CBC Global Ammunition

            15.6.1. Overview

            15.6.2. Product Portfolio

            15.6.3. Sales Footprint

            15.6.4. Key Subsidiaries or Distributors

            15.6.5. Strategy and Recent Developments

            15.6.6. Key Financials

        15.7. Elbit Systems Ltd.

            15.7.1. Overview

            15.7.2. Product Portfolio

            15.7.3. Sales Footprint

            15.7.4. Key Subsidiaries or Distributors

            15.7.5. Strategy and Recent Developments

            15.7.6. Key Financials

        15.8. Fiocchi Munizioni S.p.A.

            15.8.1. Overview

            15.8.2. Product Portfolio

            15.8.3. Sales Footprint

            15.8.4. Key Subsidiaries or Distributors

            15.8.5. Strategy and Recent Developments

            15.8.6. Key Financials

        15.9. General Dynamics Corporation

            15.9.1. Overview

            15.9.2. Product Portfolio

            15.9.3. Sales Footprint

            15.9.4. Key Subsidiaries or Distributors

            15.9.5. Strategy and Recent Developments

            15.9.6. Key Financials

        15.10. Nammo AS

            15.10.1. Overview

            15.10.2. Product Portfolio

            15.10.3. Sales Footprint

            15.10.4. Key Subsidiaries or Distributors

            15.10.5. Strategy and Recent Developments

            15.10.6. Key Financials

        15.11. Northrop Grumman Corporation

            15.11.1. Overview

            15.11.2. Product Portfolio

            15.11.3. Sales Footprint

            15.11.4. Key Subsidiaries or Distributors

            15.11.5. Strategy and Recent Developments

            15.11.6. Key Financials

        15.12. Poongsan Corporation

            15.12.1. Overview

            15.12.2. Product Portfolio

            15.12.3. Sales Footprint

            15.12.4. Key Subsidiaries or Distributors

            15.12.5. Strategy and Recent Developments

            15.12.6. Key Financials

        15.13. Visa Outdoor Operations LLC

            15.13.1. Overview

            15.13.2. Product Portfolio

            15.13.3. Sales Footprint

            15.13.4. Key Subsidiaries or Distributors

            15.13.5. Strategy and Recent Developments

            15.13.6. Key Financials

        15.14. Other Key Players

            15.14.1. Overview

            15.14.2. Product Portfolio

            15.14.3. Sales Footprint

            15.14.4. Key Subsidiaries or Distributors

            15.14.5. Strategy and Recent Developments

            15.14.6. Key Financials

    16. Go to Market Strategy

        16.1. Identification of Potential Market Spaces

        16.2. Preferred Sales & Marketing Strategy

    List of Tables

    Table 1: Global Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 2: Global Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 3: Global Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 4: Global Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 5: Global Small-caliber Ammunition Market Size & Forecast, by Region, Value (US$ Mn), 2017-2031

    Table 6: Global Small-caliber Ammunition Market Size & Forecast, by Region, Volume (Million Units), 2017-2031

    Table 7: North America Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 8: North America Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 9: North America Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 10: North America Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 11: North America Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Table 12: North America Small-caliber Ammunition Market Size & Forecast, by Country, Volume (Million Units), 2017-2031

    Table 13: Europe Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 14: Europe Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 15: Europe Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 16: Europe Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 17: Europe Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Table 18: Europe Small-caliber Ammunition Market Size & Forecast, by Country, Volume (Million Units), 2017-2031

    Table 19: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 20: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 21: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 22: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 23: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Table 24: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Country, Volume (Million Units), 2017-2031

    Table 25: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 26: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 27: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 28: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 29: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Table 30: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Country, Volume (Million Units), 2017-2031

    Table 31: South America Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Table 32: South America Small-caliber Ammunition Market Size & Forecast, by Type, Volume (Million Units), 2017-2031

    Table 33: South America Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Table 34: South America Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Table 35: South America Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Table 36: South America Small-caliber Ammunition Market Size & Forecast, by Country, Volume (Million Units), 2017-2031

    List of Figures

    Figure 1: Global Small-caliber Ammunition Price Trend Analysis (Average Price in US$)

    Figure 2: Global Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 3: Global Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 4: Global Small-caliber Ammunition Market Growth Rate, Value (US$ Mn), 2017-2031

    Figure 5: Global Small-caliber Ammunition Market Growth Rate, Volume (Million Units), 2017-2031

    Figure 6: Global Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 7: Global Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 8: Global Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 9: Global Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 10: Global Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 11: Global Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 12: Global Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 13: Global Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 14: Global Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 15: Global Small-caliber Ammunition Market Size & Forecast, by Region, Value (US$ Mn), 2017-2031

    Figure 16: Global Small-caliber Ammunition Market Attractiveness, by Region, Value (US$ Mn), 2023-2031

    Figure 17: Global Small-caliber Ammunition Market Share Analysis, by Region, 2023 and 2031

    Figure 18: North America Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 19: North America Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 20: North America Small-caliber Ammunition Market Growth Rate, Value, 2017-2031

    Figure 21: North America Small-caliber Ammunition Market Growth Rate, Volume, 2017-2031

    Figure 22: North America Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 23: North America Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 24: North America Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 25: North America Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 26: North America Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 27: North America Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 28: North America Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 29: North America Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 30: North America Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 31: North America Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Figure 32: North America Small-caliber Ammunition Market Attractiveness, by Country, Value (US$ Mn), 2023-2031

    Figure 33: North America Small-caliber Ammunition Market Share Analysis, by Country, 2023 and 2031

    Figure 34: Europe Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 35: Europe Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 36: Europe Small-caliber Ammunition Market Growth Rate, Value, 2017-2031

    Figure 37: Europe Small-caliber Ammunition Market Growth Rate, Volume, 2017-2031

    Figure 38: Europe Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 39: Europe Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 40: Europe Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 41: Europe Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 42: Europe Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 43: Europe Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 44: Europe Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 45: Europe Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 46: Europe Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 47: Europe Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Figure 48: Europe Small-caliber Ammunition Market Attractiveness, by Country, Value (US$ Mn), 2023-2031

    Figure 49: Europe Small-caliber Ammunition Market Share Analysis, by Country, 2023 and 2031

    Figure 50: Asia Pacific Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 51: Asia Pacific Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 52: Asia Pacific Small-caliber Ammunition Market Growth Rate, Value, 2017-2031

    Figure 53: Asia Pacific Small-caliber Ammunition Market Growth Rate, Volume, 2017-2031

    Figure 54: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 55: Asia Pacific Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 56: Asia Pacific Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 57: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 58: Asia Pacific Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 59: Asia Pacific Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 60: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 61: Asia Pacific Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 62: Asia Pacific Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 63: Asia Pacific Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Figure 64: Asia Pacific Small-caliber Ammunition Market Attractiveness, by Country, Value (US$ Mn), 2023-2031

    Figure 65: Asia Pacific Small-caliber Ammunition Market Share Analysis, by Country, 2023 and 2031

    Figure 66: Middle East & Africa Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 67: Middle East & Africa Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 68: Middle East & Africa Small-caliber Ammunition Market Growth Rate, Value, 2017-2031

    Figure 69: Middle East & Africa Small-caliber Ammunition Market Growth Rate, Volume, 2017-2031

    Figure 70: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 71: Middle East & Africa Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 72: Middle East & Africa Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 73: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 74: Middle East & Africa Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 75: Middle East & Africa Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 76: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 77: Middle East & Africa Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 78: Middle East & Africa Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 79: Middle East & Africa Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Figure 80: Middle East & Africa Small-caliber Ammunition Market Attractiveness, by Country, Value (US$ Mn), 2023-2031

    Figure 81: Middle East & Africa Small-caliber Ammunition Market Share Analysis, by Country, 2023 and 2031

    Figure 82: South America Small-caliber Ammunition Market, Value (US$ Mn), 2017-2031

    Figure 83: South America Small-caliber Ammunition Market, Volume (Million Units), 2017-2031

    Figure 84: South America Small-caliber Ammunition Market Growth Rate, Value, 2017-2031

    Figure 85: South America Small-caliber Ammunition Market Growth Rate, Volume, 2017-2031

    Figure 86: South America Small-caliber Ammunition Market Size & Forecast, by Type, Value (US$ Mn), 2017-2031

    Figure 87: South America Small-caliber Ammunition Market Attractiveness, by Type, Value (US$ Mn), 2023-2031

    Figure 88: South America Small-caliber Ammunition Market Share Analysis, by Type, 2023 and 2031

    Figure 89: South America Small-caliber Ammunition Market Size & Forecast, by Caliber, Value (US$ Mn), 2017-2031

    Figure 90: South America Small-caliber Ammunition Market Attractiveness, by Caliber, Value (US$ Mn), 2023-2031

    Figure 91: South America Small-caliber Ammunition Market Share Analysis, by Caliber, 2023 and 2031

    Figure 92: South America Small-caliber Ammunition Market Size & Forecast, by End-user, Value (US$ Mn), 2017-2031

    Figure 93: South America Small-caliber Ammunition Market Attractiveness, by End-user, Value (US$ Mn), 2023-2031

    Figure 94: South America Small-caliber Ammunition Market Share Analysis, by End-user, 2023 and 2031

    Figure 95: South America Small-caliber Ammunition Market Size & Forecast, by Country, Value (US$ Mn), 2017-2031

    Figure 96: South America Small-caliber Ammunition Market Attractiveness, by Country, Value (US$ Mn), 2023-2031

    Figure 97: South America Small-caliber Ammunition Market Share Analysis, by Country, 2023 and 2031

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