Market Size of Middle East and Africa Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Middle East and Africa Ammunition Market Analysis
The Middle East and African ammunition market is projected to register a CAGR of 3.5% during the forecast period.
The impact of the COVID-19 pandemic on the Middle East and African ammunition market revenues is deemed to be less. The growth in defense spending and the adoption of newer generation ammunition with better penetrating power drive the market growth.
The ongoing political turmoil in countries such as Libya, Syria, and Yemen, has driven the demand for sophisticated weapons and ammunition in the region. Besides, rampant illegal activities, such as smuggling, unlicensed mining, and poaching, in the Middle East and African nations have encouraged procuring of advanced weaponry by the respective governments to strengthen their law enforcement and military capabilities.
Countries in the Middle East are currently focusing on developing indigenous weapon manufacturing capabilities, which may create a positive outlook for the regional market during the forecast period.
