Europe 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 En

Europe 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 Europe small caliber ammunition market is expected to grow from US$ 1,487.05 million in 2021 to US$ 2,552.42 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The surging investments by homeland security and law enforcement departments is expected to escalate the Europe small caliber ammunition market. The law enforcement officers agencies across Europe need to perform duties such as executing police response, conducting criminal investigations, and providing building or personnel security to fulfill their law enforcement missions and roles. As a result, the law enforcement agencies purchase firearms, ammunition, and tactical equipment to help officers perform their tasks. These agencies also purchase ammunition for conducting training and qualifications, as well as to ensure that officers maintain the firearms proficiency of their workforce. Thus, each law enforcement agency independently decides the allocation of ammunition to its firearm-carrying personnel for training and qualification, which results in the increase in the procurement of more ammunition. Moreover, the officers in law enforcement and homeland security departments are engaged in counterterrorism and border security, and thus, require armored vehicles, which are contributing to the rise in demand for small caliber ammunition across Europe. The rising investments by homeland security and law enforcement departments for the procurement of small caliber ammunition are driving the Europe small caliber ammunition market growth. Other factors such as mounting need of modernizing military operations with rapid changes in warfare is also expected to drive the Europe small caliber ammunition market during the forecast period.

Europe is on the verge of a recession due to the COVID-19 pandemic, which will dwarf the economic downturn that followed the 2008 financial crisis. The consequences could be disastrous for the national defense sector. However, since the crisis and response are still in their early stages, governments can reduce the impact on defense. EU and NATO member states must act jointly and decisively to protect political and defense priorities. Defense spending in the European countries will be around US$ 2.88 billion in 2021, according to a defense intelligence firm, janes.com, down by 0.97% from 2020. The UK, France, and Germany each contribute up to 50% of their total defense spending to the European Union (EU). Due to the impact of COVID-19 pandemic, these countries were forced to reduce their military spending.

Based on end user, the military segment led the Europe small caliber ammunition market in 2020. Terrorism, territorial conflicts, and geopolitical tensions have all increased the countries' defense spending. Growing defense budgets has made it easier to invest in military modernization programs to acquire better weapons to supplement or replace the existing arsenal. Military modernization impacts the ammunition market in countries such as Germany, France, and Russia that are investing heavily in their ground forces' capabilities by inducting state-of-the-art small arms. For example, the Norwegian Defense Materiel Agency awarded a contract to German defense manufacturer Heckler & Koch in January 2019 for the delivery of HK416 A5 assault rifles. The HK416 A5 is an improved version of the combat proven HK416 assault rifle, which fires NATO 5.56×45 mm ammunition. Furthermore, the Europe small caliber ammunition market is expected to be benefited from the need to maintain a sufficient inventory of ammunition with militaries and the growing demand for training ammunition.

The overall Europe 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 Europe small caliber ammunition market. The process also serves the purpose of obtaining overview and forecast for the Europe 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 Europe small caliber ammunition market. BAE Systems Plc, CBC Global Ammunition, Denel PMP, Elbit Systems Ltd., FN HERSTAL, NAMMO AS, and Northrop Grumman Corporation are among a few players operating in the Europe small caliber ammunition market.

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