Asia Pacific Small Caliber Ammunition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Ammunition Size (5.56mm, 7.62mm, 9mm, 12.7mm, 14.5mm, 45ACP, .338mm, .22LR, 223 REM, and .308 Winchester), End User (Military, Homeland Security, and

Asia Pacific Small Caliber Ammunition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Ammunition Size (5.56mm, 7.62mm, 9mm, 12.7mm, 14.5mm, 45ACP, .338mm, .22LR, 223 REM, and .308 Winchester), End User (Military, Homeland Security, and Law Enforcement Agencies), and Gun Type (Pistols, Rifles, and Shot Guns)

The APAC small caliber ammunition market is expected to grow from US$ 1,432.06 million in 2021 to US$ 2,666.42 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The rising adoption of new squad automatic rifle by military forces is expected to escalate the APAC small caliber ammunition market growth. The military forces across APAC are focusing on adopting revolutionary new bullet designs such as the cased-telescoped offering increased lethality but also weight savings for overburdened infantry soldiers. In addition, rapid prototyping has led to the development of new automatic rifles that could replace existing M249. Further, the armies across APAC are planning to move to field a new squad automatic rifle. The new automatic rifle would fire a 6.8 mm round which the service and representatives from industry who are competing for the contract to build it are embracing. The 6.8 mm caliber is developed to address the shortcomings of 5.6 mm caliber. This is anticipated to fuel the growth of the APAC small caliber ammunition market in the near future. Other factor such as increasing demand for small arms ammunition is also expected to drive the APAC small caliber ammunition market.

The COVID-19 pandemic has had a significant impact on the military and defense sector of several Asian countries, including India, China, and Japan, due to supply chain disruptions. Governments in Asia Pacific countries have announced a lockdown to mitigate the effects, which, in turn, is negatively impacting the manufacturing sector. In APAC, China is the largest manufacturer of ammunition, followed by India and Japan. The dynamics of the military & defense sector in APAC countries have changed dramatically due to a sharp drop in the demand. Ammunition production has slowed because of the lockdowns. For example, India and Thailand have announced reductions in defense spending as a result of the COVID-19 crisis. Due to COVID-19 pandemic, ammunition and assembly line manufacturing across APAC have been impacted. Despite the importance of ammunition manufacturing for military applications, supply chain disruptions have temporarily slowed production. Several APAC countries have decided to cut their defense budgets in general. Budgets for research and non-critical sectors are likely to be temporarily cut as defense departments focus more on critical sectors to national security. But APAC countries such as China has increased their planned defense spending during this time.

The pistols segment led the APAC small caliber ammunition market, based on gun type, in 2020 and is expected to dominate the market in terms of revenue during the forecast period. The rising use of pistols in law enforcement agencies are one of the key factors for the growth of the market in APAC. In addition, pistol manufacturers across APAC are getting contracts from armed forces to supply pistols. Growing demand for pistols due to several reasons such as self-defense and growing local crimes are expected to increase the demand for small caliber ammunition, thereby driving the APAC small caliber ammunition market.

The overall APAC small caliber ammunition market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC small caliber ammunition market. The process also serves the purpose of obtaining overview and forecast for the APAC small caliber ammunition market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC small caliber ammunition market. BAE Systems Plc, CBC Global Ammunition, Elbit Systems Ltd., FN HERSTAL, NAMMO AS, and Northrop Grumman Corporation are among a few players operating in the APAC small caliber ammunition market.

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