Dallas, TX -- (SBWIRE) -- 10/15/2014 -- According to the market research report, "Ammunition Market by Types (Large Caliber, Medium Caliber and Small Caliber, Artillery, Mortar), by Geography (North America, Europe, APAC, Latin America, Africa) - Market Forecast & Analysis to 2013 - 2020" the global ammunitions market is projected to cross $12 billion by 2020, growing at a 4.2% CAGR from 2013 to 2020.

Munitions is the collective term for all type of ammunitions. Ammunitions are any weapon which can be used in combat. It includes missiles, bombs, naval mines, land mines, as well as anti-personnel mines. There are three types of components in ammunition including explosive materials or propellants, projectiles, and cartridges. The common term used to denote detonators for explosives is fuze and includes features like delay, time, point detonating, and proximity.

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There are different types of ammunitions namely large, medium, and small caliber ammunition, artillery ammunition, and mortar ammunition. In the global ammunitions market, small caliber constitutes the largest share. The main factors driving the small caliber ammunitions market are the increasing expenditure and procurements in regions of the Middle East, Russia, and Asia-Pacific.

This market is considered to be self sustaining as nations continuously acquire as well as replenish their aging stock on a regular basis and also provide training for its troops to maintain readiness levels. The global ammunitions market in Asia-Pacific region and the Middle East will grow at the highest CAGR as Asia has one of the largest growing economies in the world and the instability in the Middle Eastern region after the Arab Spring.

The global ammunitions market is on a significant upswing. The reason for the growing interest in ammunitions is that now every country is investing significantly to modernize their armed forces. Also, there has been an increase in military expenses by the Middle East, APAC, and Russia. The main challenge which is being faced by every ammunition industry is improving quality and quantity while reducing cost.

Currently, the global ammunition market is dominated by Asia-Pacific and the Middle East due to the emerging economies in these regions. The demand created by the ongoing conflicts is a major driver of the ammunition market. The modernization programs carried out across Asia, aided by their economic growth and fueled by the rising territorial tensions in the region has also increased the demand for ammunition market. However, as far as spending is concern, Europe, and Latin America lag far behind its counterparts. The global ammunition market is nascent in APAC and the Middle East and will significantly grow and reach the peak by 2020.

North America contributes a large market share, as the U.S. being the largest defense spender in the North America accounting nearly 80% of the entire market share in the region. Africa is expected to show steady growth in the forecast period due to economic growth and ensuing conflict throughout the continent. In Latin America, Brazil is the largest spender in ammunitions. Spending on small caliber ammunition is high as compared to other ammunitions, hence contributes the largest portion of the market share.

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The global ammunition market in Europe is expected to show steady growth due to the expected end of the International Security Assistance Force (ISAF) mission in Afghanistan. All types of ammunition are expected to show stable growth in the European region. Decreasing demands in the west and increasing opportunities in the rest of the world, is going to put an added pressure across the global ammunition industrial base, as they strive to thrive while facing unknown challenges on the way.

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