Market Overview: US Guns and Ammunition Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on US Guns and Ammunition Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
US Guns and Ammunition Market Insights 2024-30
The US Guns and Ammunition Market is estimated to grow at a CAGR of around 2.3% during the forecast period 2024-30.
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Driving Innovation: Exploring the US Guns and Ammunition Market and its Key Drivers
The US Guns and Ammunition Market Driver: Surge in Military Spending to Accelerate the Market Growth
In recent years, the US has seen a notable increase in defense spending due to factors like the Russia-Ukraine conflict and geopolitical uncertainties in the Middle East. The decision by the US government to offer military assistance to Ukraine has played a crucial role in the increase, ensuring global stability. Substantial financial aid and support have been directed towards reinforcing the Ukrainian military. According to the Stockholm International Peace Research Institute (SIPRI), US defense spending witnessed a substantial increase of approximately USD71 billion from 2021 to 2022. As a result, there is a heightened demand for firearms and ammunition within the country’s defense sector, contributing to the expansion of the US Guns and Ammunition Market.
Furthermore, the escalating challenges posed by China and Russia on the global stage have also become pivotal drivers behind the increased US defense investment in modernization efforts, including gun & ammunition procurement. Thus, the growing investment in military modernization would increase the requirement for advanced guns & ammunition in the forecast period.
Top Players in the US Guns and Ammunition Market:
Sig Sauer, Smith & Wesson, Sturm, Roger & Co. Inc., Taurus International Manufacturing Inc., Springfield Armory, Ammo Inc., Federal Ammunition, Hornady, FN Herstal, Black Hills Ammunition, and Others
US Guns and Ammunition Industry Recent Development:
- 2023: Sig Sauer declared to expand its pistol range with P322-COMP, an enhanced version of its P322 model.
- 2023: FN Herstal planned to build an arms plant worth USD33 million in Liberty Town. The plant is expected to break ground in 2024 and start operations in 2025.
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Segmentation Analysis of US Guns and Ammunition Market
US Guns and Ammunition Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Type
-Guns
-Ammunition
By Lethality
-Non-Lethal
-Lethal
- Lethal Weapons is anticipated to capture a significant share of the US Guns and Ammunition Market in the projected years.
By Application
-Defense
–Military Operation
–Law Enforcement
-Security Services
–Close Protection Services
–Event Security
–Secure Transportation
–Others (Industrial Security, Private Investigation, etc.)
-Civilians
–Self Defense
–Sport Shooting
–Hunting
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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Contact Information:
Reach us: Call: +1 628 895 8081, +91 120 4278433 Email: [email protected] Visit to know more: www.marknteladvisors.com
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