The Expert Market Research reports that there is a rise in defense spending, and Ammo Inc., BAE Systems, General Dynamics Corp, Northrop Grumman Corporation, and Hanwha Corporation, among others, are the major players in the global ammunition market. They write:
The global ammunition market is expected to grow at a CAGR of 3.50% in the forecast period of 2023-2028. As per the analysis by Expert Market Research, the market is being driven by the growing demand for ammunition in the defence and military sector.
With the growing international tensions and cross-border conflicts, rising security concerns, and the surging risk of terrorism, various countries are expanding their defence capabilities, hence propelling the market growth of ammunition. Several governments like the Indian government are also promoting indigenous manufacturing of ammunition, thereby driving the market expansion. […]
Various leading companies in the market are increasingly launching innovative ammunitions. For instance, In July 2022, AMMO, Inc. announced the development and launch of the Green Streak® ammunition. The advanced visual ammunition features one-way luminescent technology and incorporates a patented non-toxic composite. The ammunition provides shooters with a visible trace and enables the masking of the firing position. The new technology improves the accuracy while maintaining consistent point impact with other rounds. Moreover, the latest ammunition is an effective and safe training tool and can be utilised in various ranges and environments for law enforcement and military combat and training applications.
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