Global Ammunition Market Analysis Report 2022: Growing Personal Safety Concerns and Increasing Shooting Ranges Driving Growth – QNT Press Release


DUBLIN, Oct. 21, 2022 /PRNewswire/ — The “Ammunition Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.

The global ammunition market is expected to grow from $23.75 billion in 2021 to $24.54 billion in 2022 at a compound annual growth rate (CAGR) of 3.35%. The ammunition market is expected to grow to $27.77 billion in 2026 at a compound annual growth rate (CAGR) of 3.14%.

North America was the largest region in the ammunition market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing personal safety concerns and increasing shooting ranges are propelling the growth of the ammunition market. The increasing terrorist activities, mass shootings, increasing gangster activities, and increasing awareness for self-defense are the main reasons for the growing personal safety concerns while the rising awareness about the safe use of guns is the main reason for increasing shooting ranges.

These growing personal safety concerns and increasing shooting ranges have led to the increased procurement of small caliber ammo for personnel safety. For instance, according to a survey commissioned in June 2021 by a nonpartisan American think tank the Pew Research Center, 44% of Republicans and Republican-leaning independents personally own a gun, compared with 20% of Democrats and Democratic leaners. 39% of the men own a gun, compared with 22% of women .

In addition, 41% of adults in rural areas …

Full story available on Benzinga.com



Source link

Recommended For You

About the Author: News Center