Newark, NJ, June 25, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global Small & Medium Caliber Ammunition market is expected to grow from USD 9.57 billion in 2020 and to reach USD 13.4 billion by 2028, growing at a CAGR of 4.3% during the forecast period 2021-2028.
The Small & Medium Caliber Ammunition market is witnessing significant growth from the past years. This growth is attributed to procurement of small caliber ammunition by armed forces, local enforcement agencies, and border security forces and increasing use of ammunition for hunting and other sports activities in the market of several countries like North America. The introduction of various advanced applications in the market, such as environment-friendly bullets, eliminating lead by using polymer-based ammunition will propel the small & medium caliber ammunition market. The growing adoption of the increasing usage of copper and zinc alloys to cover bullets will influence the market.
Small & Medium Caliber Ammunition is referred to as combination of cartridges and bullets fired or dispersed from a weapon, especially a pistol. It consists of gunpowder and primer for ignition or explosion. These are the bullets used with fuses, the propulsive charges used in pistols, small arms and artillery. Such ammunition is produced using a variety of materials such as brass, steel and others.
The global small & medium caliber ammunition market is expected to witness significant…