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The Asia-Pacific Ammunition Market is Segmented by Type (Small Caliber, Medium Caliber, Large Caliber), End-user (Civilian, Military), and Geography.
The Asia-Pacific ammunition market is anticipated to register a CAGR of over 3% during the forecast period.
The market study includes the procurement of small caliber, medium caliber, and large-caliber ammunition for civilian and military end-users. While the military segment comprises the army, navy, and air force, the civilian segment encompasses homeland security, local law enforcement agencies, and licensed civilian users.
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The military end-user segment is anticipated to dominate the market in focus during the forecast period due to the increase in procurement of ammunition by the armed forces to subdue the threats arising due to terrorism, territorial conflicts, and geopolitical tensions. The countries are procuring the artillery and mortar systems to safeguard their borders against illegal trespassing and several forms of trafficking, thereby generating demand for ammunition. For instance, in January 2019, India procured M982 Excalibur guided long-range of 155mm extended-range artillery ammunition from the US Army under the emergency procurement procedures to deploy them at Line of Control (LoC). In South Korea is replacing its fleet of K55 self-propelled howitzers with the K9 Thunder. Hanwha Land systems, a South Korean defense contractor, manufactures the K9 Thunder 155 mm/52 caliber self-propelled artillery system and associated with K10 Ammunition Resupply Vehicle (ARV). Additionally, in October 2019, Rheinmetall Defense has signed a risk mitigation activity contract for testing of Lynx KF41 for Australia’s Land 400 Phase 3 program, to deliver three Lynx KF41 Infantry Fighting Vehicles (IFVs) to compete in the trials for a potential contract worth USD 9.5 billion. The procurement of such vehicles is expected to bolster the demand for associated ammunition for the integrated weapon systems.
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The ongoing geopolitical rift with the neighboring countries is fostering the purchase of new advanced weapons with enhanced lethality, thereby driving the demand for ammunition in India. For instance, in a bid to phase out the INSAS rifles used by the Indian Armed Forces in February 2019, the Defense Ministry of India placed an order for 72,400 assault rifles to the US firm Sig Sauer. The contract is worth around USD 100 million. In addition to India, Japan has been investing significantly in modernizing its armory to counter the growing influence of China over the South China Sea. Similarly, China has undertaken a massive modernization drive to transform its current capabilities and evolve into a much dominant player in the region. With countries planning to increase the headcount of its law enforcement, military, and special forces, the plans to recruit new personnel may generate demand for arms and ammunition, driving the market prospects during the forecast period.
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The prominent players in the Asia-Pacific ammunition market are Rheinmetall AG, BAE Systems PLC, Nexter Group, General Dynamics Corporation, and MAGTECH. The companies are currently focusing on the design and manufacture of more lethal ammunition to increase their market share. Rheinmetall is one of the major players in the market that is providing artillery ammunition through multiple joint ventures in various regions. For instance, in June 2019, the UK Competition and Markets Authority (CMA), approved the military vehicle joint venture between Rheinmetall Defense and BAE Systems plc. Countries like China, India, South Korea, Singapore, and Indonesia are supporting local manufacturing companies to facilitate the need of their respective armed forces and law enforcement agencies, thereby creating a diversified outlook for the market.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Small Caliber
5.1.2 Medium Caliber
5.1.3 Large Caliber
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Rheinmetall AG
6.2.2 BAE Systems plc
6.2.3 Nexter Group
6.2.4 General Dynamics Corporation
6.2.6 Winchester Ammunition (Olin Corporation)
6.2.7 CBC Global Ammunition
6.2.8 Remington Arms Company LLC
6.2.9 Singapore Technologies Engineering Ltd
6.2.10 Indian Ordnance Factory
7. MARKET OPPORTUNITIES AND FUTURE TRENDS