Military Ammunition Market

Global Military Ammunition Market Focus on Platform (Land Force, Navy and Air Force), Product (Missile, Rocket, Artillery Shell, Bomb, Mortar Ammunition, Bullet, and Grenade), and Guidance Analysis and Forecast: 2020-2025 September 2020

TOC

Global Military Ammunition Market

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Global Military Ammunition Market

Table of Contents Executive Summary……………………………………………...……………. 27 1.

Market Dynamics ................................................................................................ 41 1.1

Market Snapshot .......................................................................................... 41

1.2

Market Drivers .............................................................................................. 41

1.3

1.4

2.

1.2.1

Growing Global Defense Spending.................................................. 41

1.2.2

Increasing Military Modernization Programs .................................. 43

1.2.3

Upsurge in Terrorist Activities in Asia-Pacific and Middle East ..................................................................................................... 44

Market Restraints ......................................................................................... 45 1.3.1

Environmental Contamination by Military Munitions ..................... 45

1.3.2

Regulatory Restrictions by Ammunition Control Regimes ........... 46

Market Opportunities ................................................................................... 48 1.4.1

Escalating Demand for Military Ammunition in Emerging Economies ......................................................................................... 48

1.4.2

Inclination toward Lightweight Ammunition ................................... 49

1.4.3

Miniaturizing of Munitions ................................................................ 49

Competitive Insights .......................................................................................... 51 2.1

Key Strategies and Developments ............................................................. 51 2.1.1

New Product Launches ..................................................................... 54

2.1.2

Acquisitions, Joint Ventures, Collaborations, and Mergers .......... 55

2.1.3

Contracts ............................................................................................ 56

2.1.4

Other Developments ......................................................................... 58

2.2

Market Share Analysis ................................................................................. 59

2.3

Competitive Benchmarking ......................................................................... 60

3.

Industry Analysis................................................................................................ 62 3.1

Patent Analysis ............................................................................................ 62 3.1.1

3.2

Patents (by Country), 2016-2020 ...................................................... 67

Supply Chain Analysis................................................................................. 67 3.2.1

Illustrating Supply Chain Analysis................................................... 68

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Global Military Ammunition Market

3.3

3.4

3.2.1.1

Research and Development ................................................................ 68

3.2.1.2

Component Sourcing ........................................................................... 68

3.2.1.3

Manufacturing and Assembly .............................................................. 68

3.2.1.4

Testing................................................................................................. 68

3.2.1.5

Distribution and End User.................................................................... 69

Industrial Trends .......................................................................................... 69 3.3.1

Inclination toward Advanced Guided-Weapons Technology ........ 69

3.3.2

Development of Hypersonic Missiles .............................................. 69

3.3.3

3D-Printed Components for Missiles ............................................... 71

3.3.4

Reduced Ammunition Sizes ............................................................. 71

Technological Developments ...................................................................... 72 3.4.1

Magneto Hydrodynamic Explosive Munition (MAHEM) ................. 72

3.4.2

Personnel Halting and Stimulation Response (PHASR) Rifle ....... 72

3.4.3

Grenade-Launching Assault Rifle .................................................... 72

3.4.4

Corner Shot Pistols ........................................................................... 73

3.4.5

ADS Underwater Rifle ....................................................................... 73

3.5

Major Military Programs .............................................................................. 73

3.6

Industry Attractiveness: Porter’s Five Forces Analysis ........................... 75

4.

Global Military Ammunition Market .................................................................. 86 4.1

Assumptions and Limitations ..................................................................... 86

4.2

Market Overview ........................................................................................... 86

5.

Global Military Ammunition Market (by Platform) ........................................... 88 5.1

Market Overview ........................................................................................... 88

5.2

Land Force .................................................................................................... 89

5.3

5.2.1

Artillery Unit Ammunition ................................................................. 90

5.2.2

Armored Unit Ammunition ................................................................ 91

5.2.3

Infantry Unit Ammunition ................................................................. 92

Navy .............................................................................................................. 94 5.3.1

Naval Missile ...................................................................................... 94

5.3.2

Naval Artillery .................................................................................... 96

5.3.3

Naval Mine .......................................................................................... 97

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Global Military Ammunition Market

5.4

6.

Air Force ....................................................................................................... 98 5.4.1

Aerial Missile ................................................................................... 100

5.4.2

Aerial Bomb ..................................................................................... 102

Global Military Ammunition Market (by Product) .......................................... 105 6.1

Market Overview ......................................................................................... 105

6.2

Missile ......................................................................................................... 106

6.3

6.4

6.5

6.2.1

Cruise Missile .................................................................................. 108

6.2.1.1

Short Range Cruise Missiles ............................................................. 110

6.2.1.2

Medium Range Cruise Missiles ......................................................... 115

6.2.1.3

Long-Range Cruise Missiles .............................................................. 118

6.2.2

Ballistic Missile ................................................................................ 121

6.2.2.1

Short-Range Ballistic Missile ............................................................. 123

6.2.2.2

Medium-Range Ballistic Missile ......................................................... 127

6.2.2.3

Intermediate-Range Ballistic Missile .................................................. 130

6.2.2.4

Intercontinental Ballistic Missile ......................................................... 131

6.2.2.5

Others................................................................................................ 134

Rocket ......................................................................................................... 141 6.3.1

Artillery Rocket ................................................................................ 142

6.3.2

Air-Launched Rocket ...................................................................... 143

6.3.3

Portable Rocket ............................................................................... 144

Artillery Shell .............................................................................................. 145 6.4.1

Guided Shell .................................................................................... 146

6.4.2

Armor-Piercing Shell ....................................................................... 147

6.4.3

High-Explosive Shell ....................................................................... 148

6.4.4

Non-Lethal Shell .............................................................................. 149

6.4.4.1

Smoke Shell ...................................................................................... 150

6.4.4.2

Illuminating Shell ............................................................................... 150

Bomb ........................................................................................................... 150 6.5.1

Guided Bomb ................................................................................... 151

6.5.2

General-Purpose Bomb .................................................................. 152

6.5.3

Gravity Bomb ................................................................................... 153

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Global Military Ammunition Market

6.5.4 6.6

6.7

6.8

Naval Mine ........................................................................................ 154

Mortar Ammunition .................................................................................... 155 6.6.1

Large-Caliber Mortar Ammunition ................................................. 156

6.6.2

Medium-Caliber Mortar Ammunition.............................................. 157

6.6.2.1

81mm ................................................................................................ 158

6.6.2.2

82mm ................................................................................................ 159

6.6.3

Small-Caliber Mortar Ammunition.................................................. 160

6.6.3.1

60mm ................................................................................................ 161

6.6.3.2

51mm ................................................................................................ 162

Bullet ........................................................................................................... 162 6.7.1

Medium-Caliber Ammunition .......................................................... 163

6.7.1.1

20mm ................................................................................................ 164

6.7.1.2

30mm ................................................................................................ 166

6.7.1.3

25mm ................................................................................................ 171

6.7.1.4

40mm ................................................................................................ 171

6.7.1.5

Others................................................................................................ 172

6.7.2

Small-Caliber Ammunition .............................................................. 173

6.7.2.1

5.56mm ............................................................................................. 174

6.7.2.2

7.62mm ............................................................................................. 177

6.7.2.3

9mm .................................................................................................. 180

6.7.2.4

12.7mm ............................................................................................. 181

6.7.2.5

Others................................................................................................ 181

Grenade....................................................................................................... 183 6.8.1

Explosive Grenade .......................................................................... 183

6.8.1.1

Fragmentation Grenade .................................................................... 184

6.8.1.2

High Explosive Grenade .................................................................... 185

6.8.2

Non-Explosive Grenade .................................................................. 186

6.8.2.1

Smoke Grenade ................................................................................ 187

6.8.2.2

Stun Grenade .................................................................................... 188

6.8.2.3

Sting Grenade ................................................................................... 189

6.8.2.4

Incendiary Grenade ........................................................................... 190

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Global Military Ammunition Market

7.

Global Military Ammunition Market (by Guidance) ........................................ 192 7.1

Market Overview ......................................................................................... 192

7.2

Guided Ammunition ................................................................................... 192

7.3

Non-Guided Ammunition ........................................................................... 196

8.

Global Military Ammunition Market (by Region) ............................................ 199 8.1

Market Overview ......................................................................................... 199

8.2

North America ............................................................................................ 201

8.3

8.2.1

Market Overview .............................................................................. 201

8.2.2

North America Military Ammunition Market (by Platform) ........... 201

8.2.3

North America Military Ammunition Market (by Product) ............ 202

8.2.4

North America Military Ammunition Market (by Country) ............ 203

8.2.4.1

U.S. ................................................................................................... 204

8.2.5

U.S. Military Ammunition Market (by Platform)............................. 207

8.2.6

U.S. Military Ammunition Market (by Product).............................. 207

8.2.6.1

Canada .............................................................................................. 208

8.2.7

Canada Military Ammunition Market (by Platform) ....................... 209

8.2.8

Canada Military Ammunition Market (by Product)........................ 210

Europe ......................................................................................................... 211 8.3.1

Market Overview .............................................................................. 211

8.3.2

Europe Military Ammunition Market (by Platform) ....................... 212

8.3.3

Europe Military Ammunition Market (by Product) ........................ 212

8.3.4

Europe Military Ammunition Market (by Country) ........................ 213

8.3.4.1

Russia ............................................................................................... 215

8.3.5

Russia Military Ammunition Market (by Platform) ........................ 216

8.3.6

Russia Military Ammunition Market (by Product) ......................... 216

8.3.6.1

U.K. ................................................................................................... 217

8.3.7

U.K. Military Ammunition Market (by Platform) ............................ 218

8.3.8

U.K. Military Ammunition Market (by Product) ............................. 219

8.3.8.1

France ............................................................................................... 220

8.3.9

France Military Ammunition Market (by Platform) ........................ 221

8.3.10

France Military Ammunition Market (by Product) ......................... 222

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Global Military Ammunition Market

8.3.10.1 Germany............................................................................................ 222 8.3.11

Germany Military Ammunition Market (by Platform) .................... 224

8.3.12

Germany Military Ammunition Market (by Product) ..................... 224

8.3.12.1 Italy .................................................................................................... 225 8.3.13

Italy Military Ammunition Market (by Platform) ............................ 226

8.3.14

Italy Military Ammunition Market (by Product) ............................. 227

8.3.14.1 Rest-of-Europe .................................................................................. 228

8.4

8.3.15

Rest-of-Europe Military Ammunition Market (by Platform) .......... 229

8.3.16

Rest-of-Europe Military Ammunition Market (by Product) ........... 230

Asia-Pacific ................................................................................................. 231 8.4.1

Market Overview .............................................................................. 231

8.4.2

Asia-Pacific Military Ammunition Market (by Platform) ............... 232

8.4.3

Asia-Pacific Military Ammunition Market (by Product) ................ 232

8.4.4

Asia-Pacific Military Ammunition Market (by Country) ................ 233

8.4.4.1

China ................................................................................................. 235

8.4.5

China Military Ammunition Market (by Platform).......................... 236

8.4.6

China Military Ammunition Market (by Product)........................... 236

8.4.6.1

India................................................................................................... 237

8.4.7

India Military Ammunition Market (by Platform) ........................... 238

8.4.8

India Military Ammunition Market (by Product) ............................ 239

8.4.8.1

South Korea ...................................................................................... 240

8.4.9

South Korea Military Ammunition Market (by Platform) .............. 241

8.4.10

South Korea Military Ammunition Market (by Product) ............... 242

8.4.10.1 Japan................................................................................................. 242 8.4.11

Japan Military Ammunition Market (by Platform) ......................... 244

8.4.12

Japan Military Ammunition Market (by Product) .......................... 244

8.4.12.1 Australia ............................................................................................ 245 8.4.13

Australia Military Ammunition Market (by Platform) .................... 246

8.4.14

Australia Military Ammunition Market (by Product) ..................... 247

8.4.14.1 Rest-of-Asia-Pacific ........................................................................... 248 8.4.15

Rest-of-Asia-Pacific Military Ammunition Market (by Platform) ........................................................................................... 249

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Global Military Ammunition Market

8.4.16 8.5

9.

Rest-of-Asia-Pacific Military Ammunition Market (by Product)............................................................................................ 250

Rest-of-the-World ....................................................................................... 251 8.5.1

Market Overview .............................................................................. 251

8.5.2

Rest-of-the-World Military Ammunition Market (by Platform) ..... 252

8.5.3

Rest-of-the-World Military Ammunition Market (by Product) ...... 252

8.5.4

Rest-of-the-World Military Ammunition Market (by Country) ...... 253

8.5.4.1

Middle East........................................................................................ 255

8.5.5

Middle East Military Ammunition Market (by Platform) ................ 256

8.5.6

Middle East Military Ammunition Market (by Product) ................. 257

8.5.6.1

Latin America .................................................................................... 258

8.5.7

Latin America Military Ammunition Market (by Platform) ............ 259

8.5.8

Latin America Military Ammunition Market (by Product) ............. 260

8.5.8.1

Africa ................................................................................................. 260

8.5.9

Africa Military Ammunition Market (by Platform) ......................... 262

8.5.10

Africa Military Ammunition Market (by Product) .......................... 262

Company Profiles ............................................................................................. 264 9.1

Overview ..................................................................................................... 264

9.2

BAE Systems .............................................................................................. 265

9.3

9.4

9.2.1

Company Overview ......................................................................... 265

9.2.2

Role of BAE Systems in the Global Military Ammunition Market ............................................................................................... 265

9.2.3

Financials ......................................................................................... 267

9.2.3.1

Financial Summary ............................................................................ 269

9.2.4

SWOT Analysis ................................................................................ 270

CBC Ammo ................................................................................................. 271 9.3.1

Company Overview ......................................................................... 271

9.3.2

Role of CBC Ammo in the Global Military Ammunition Market ............................................................................................... 271

9.3.3

SWOT Analysis ................................................................................ 273

Chemring Group PLC................................................................................. 274 9.4.1

Company Overview ......................................................................... 274

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Global Military Ammunition Market

9.5

9.6

9.7

9.8

9.9

9.4.2

Role of Chemring Group PLC in the Global Military Ammunition Market ......................................................................... 274

9.4.3

Financials ......................................................................................... 276

9.4.3.1

Financial Summary ............................................................................ 278

9.4.4

SWOT Analysis ................................................................................ 279

Denel SOC Ltd ............................................................................................ 280 9.5.1

Company Overview ......................................................................... 280

9.5.2

Role of Denel SOC Ltd in the Global Military Ammunition Market ............................................................................................... 280

9.5.3

Financials ......................................................................................... 282

9.5.3.1

Financial Summary ............................................................................ 284

9.5.4

SWOT Analysis ................................................................................ 285

Elbit Systems Ltd. ...................................................................................... 286 9.6.1

Company Overview ......................................................................... 286

9.6.2

Role of Elbit System Ltd. in the Global Military Ammunition Market ............................................................................................... 286

9.6.3

Financials ......................................................................................... 288

9.6.4

Financial Summary.......................................................................... 290

9.6.5

SWOT Analysis ................................................................................ 291

FN HERSTAL .............................................................................................. 292 9.7.1

Company Overview ......................................................................... 292

9.7.2

Role of FN HERSTAL in Global Military Ammunition Market....... 292

9.7.3

SWOT Analysis ................................................................................ 294

General Dynamics Corporation ................................................................ 295 9.8.1

Company Overview ......................................................................... 295

9.8.2

Role of General Dynamics Corporation in the Global Military Ammunition Market ......................................................................... 295

9.8.3

Financials ......................................................................................... 297

9.8.3.1

Financial Summary ............................................................................ 299

9.8.4

SWOT Analysis ................................................................................ 300

EXPAL Systems ......................................................................................... 301 9.9.1

Company Overview ......................................................................... 301

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Global Military Ammunition Market

9.9.2

Role of EXPAL Systems in the Global Military Ammunition Market ............................................................................................... 301

9.9.3

SWOT Analysis ................................................................................ 303

9.10

Lockheed Martin Corporation ................................................................... 304

9.10.1

Company Overview ......................................................................... 304

9.10.2

Role of Lockheed Martin Corporation in the Global Military Ammunition Market ......................................................................... 304

9.10.3

Financials ......................................................................................... 305

9.10.4

Financial Summary.......................................................................... 307

9.10.5

SWOT Analysis ................................................................................ 308

9.11

Nammo AS .................................................................................................. 309

9.11.1

Company Overview ......................................................................... 309

9.11.2

Role of Nammo AS in the Global Military Ammunition Market .... 309

9.11.3

Financials ......................................................................................... 311

9.11.3.1 Financial Summary ............................................................................ 312 9.11.4 9.12

SWOT Analysis ................................................................................ 313

Nexter KNDS group .................................................................................... 314

9.12.1

Company Overview ......................................................................... 314

9.12.2

Role of Nexter KNDS group in the Global Military Ammunition Market ......................................................................... 314

9.12.3

SWOT Analysis ................................................................................ 316

9.13

Northrop Grumman Corporation .............................................................. 317

9.13.1

Company Overview ......................................................................... 317

9.13.2

Role of Northrop Grumman Corporation in the Global Military Ammunition Market ........................................................... 317

9.13.3

Financials ......................................................................................... 318

9.13.3.1 Financial Summary ............................................................................ 320 9.13.4 9.14

SWOT Analysis ................................................................................ 321

Olin Corporation ......................................................................................... 322

9.14.1

Company Overview ......................................................................... 322

9.14.2

Role of Olin Corporation in the Global Military Ammunition Market ............................................................................................... 322

9.14.3

Financials ......................................................................................... 323

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Global Military Ammunition Market

9.14.3.1 Financial Summary ............................................................................ 325 9.14.4 9.15

SWOT Analysis ................................................................................ 326

Poongsan Corporation .............................................................................. 327

9.15.1

Company Overview ......................................................................... 327

9.15.2

Role of Poongsan Corporation in Global Military Ammunition Market ......................................................................... 327

9.15.3

Financials ......................................................................................... 328

9.15.3.1 Financial Summary ............................................................................ 330 9.15.4 9.16

SWOT Analysis ................................................................................ 331

Raytheon Technologies Corporation ....................................................... 332

9.16.1

Company Overview ......................................................................... 332

9.16.2

Role of Raytheon Technologies Corporation in the Global Military Ammunition Market ........................................................... 332

9.16.3

Financials ......................................................................................... 334

9.16.3.1 Financial Summary ............................................................................ 336 9.16.4 9.17

SWOT Analysis ................................................................................ 337

Rheinmetall AG .......................................................................................... 338

9.17.1

Company Overview ......................................................................... 338

9.17.2

Role of Rheinmetall AG in the Global Military Ammunition Market ............................................................................................... 338

9.17.3

Financials ......................................................................................... 339

9.17.3.1 Financial Summary ............................................................................ 341 9.17.4 9.18

SWOT Analysis ................................................................................ 342

Rosoboronexport ....................................................................................... 343

9.18.1

Company Overview ......................................................................... 343

9.18.2

Role of Rosoboronexport in the Global Military Ammunition Market ............................................................................................... 343

9.18.3

SWOT Analysis ................................................................................ 345

9.19

RUAG Group (RUAG Ammotec AG) ......................................................... 346

9.19.1

Company Overview ......................................................................... 346

9.19.2

Role of RUAG Group (RUAG Ammotec AG) in the Global Military Ammunition Market ........................................................... 346

9.19.3

Financials ......................................................................................... 348

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Global Military Ammunition Market

9.19.3.1 Financial Summary ............................................................................ 350 9.19.4 9.20

SWOT Analysis ................................................................................ 351

Singapore Technologies Engineering Ltd. .............................................. 352

9.20.1

Company Overview ......................................................................... 352

9.20.2

Role of Singapore Technologies Engineering Ltd. in the Global Military Ammunition Market ............................................... 352

9.20.3

Financials ......................................................................................... 354

9.20.3.1 Financial Summary ............................................................................ 356 9.20.4 9.21

SWOT Analysis ................................................................................ 357

Thales Group .............................................................................................. 358

9.21.1

Company Overview ......................................................................... 358

9.21.2

Role of Thales Group in the Global Military Ammunition Market ............................................................................................... 358

9.21.3

Financials ......................................................................................... 360

9.21.3.1 Financial Summary ............................................................................ 362 9.21.4 9.22

SWOT Analysis ................................................................................ 363

Vista Outdoor Operations LLC .................................................................. 364

9.22.1

Company Overview ......................................................................... 364

9.22.2

Role of Vista Outdoor Operations LLC in the Global Military Ammunition Market ......................................................................... 364

9.22.3

Financials ......................................................................................... 365

9.22.3.1 Financial Summary ............................................................................ 367 9.22.4 10.

11.

SWOT Analysis ................................................................................ 368

Research Scope & BIS Methodology .............................................................. 369 10.1

Scope of the Report ................................................................................... 369

10.2

Global Military Ammunition Market Research Methodology .................. 369

Appendix ........................................................................................................... 375 11.1

Related Reports.......................................................................................... 375

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Global Military Ammunition Market

List of Tables Table 1: COVID-19 Impact on Defense Budgets ............................................................................. 33 Table 2: Global Military Ammunition Market, $Billion, 2019 and 2025 ............................................. 34 Table 3: Global Military Ammunition Market (by Product), $Billion, 2019-2025 ................................ 36 Table 4: Global Military Ammunition Market (by Guidance), $Billion, 2019-2025 ............................. 37 Table 5: Key Companies in the Global Military Ammunition Market, Revenue, 2019....................... 39 Table 1.1: Members of Missile Technology Control Regium (MTCR) .............................................. 46 Table 1.2: Impact Analysis of Market Drivers ................................................................................... 50 Table 3.1: Key Patents Published, 2016-2020 ................................................................................. 62 Table 3.2: Analyzing Threat from New Entrants in the Global Military Ammunition Market .............. 77 Table 3.3: Analyzing Threat from Substitute Products in the Global Military Ammunition Market .............................................................................................................. 79 Table 3.4: Analyzing the Bargaining Power of Suppliers in the Global Military Ammunition Market .............................................................................................................. 80 Table 3.5: Analyzing the Bargaining Power of Buyers in the Global Military Ammunition Market .............................................................................................................. 82 Table 3.6: Analyzing the Intensity of Competitive Rivalry in the Global Military Ammunition Market .............................................................................................................. 84 Table 5.1: Global Military Ammunition Market (by Platform), $Billion, 2019-2025 ............................ 89 Table 5.2: Global Land Force Ammunition Market, $Billion, 2019-2025 .......................................... 90 Table 5.3: Global Navy Ammunition Market, $Billion, 2019-2025 .................................................... 94 Table 5.4: Major Guided Munition Programs ................................................................................... 99 Table 5.5: Global Air Force Ammunition Market, $Billion, 2019-2025 .............................................. 99 Table 5.6: Short-Range Air-to-Air Missiles ..................................................................................... 100 Table 5.7: Aerial Bombs (by Country) ............................................................................................ 102 Table 6.1: Global Military Ammunition Market (by Product), $Billion, 2019-2025 ........................... 105 Table 6.2: Key Differences between Cruise and Ballistic Missiles ................................................. 107 Table 6.3: Global Military Missiles Market, $Billion, 2019-2025 ..................................................... 108 Table 6.4: Key Cruise Missile Contracts ........................................................................................ 109 Table 6.5: Global Military Cruise Missiles Market, $Billion, 2019-2025 .......................................... 110

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Global Military Ammunition Market

Table 6.6: Key Short-Range Cruise Missiles.................................................................................. 111 Table 6.7: Key Medium-Range Cruise Missiles ............................................................................. 115 Table 6.8: Key Long-Range Cruise Missiles .................................................................................. 118 Table 6.9: Key Ballistic Missile Contracts....................................................................................... 121 Table 6.10: Global Military Ballistic Missiles Market, $Billion, 2019-2025 ...................................... 122 Table 6.11: Key Short-Range Ballistic Missiles .............................................................................. 123 Table 6.12: Key Medium-Range Ballistic Missiles.......................................................................... 128 Table 6.13: Key Intermediate-Range Ballistic Missiles................................................................... 130 Table 6.14: Key Intercontinental Range Ballistic Missiles .............................................................. 132 Table 6.15: Key Other Ballistic Missiles ......................................................................................... 135 Table 6.16: Global Military Rockets Market, $Billion, 2019-2025 ................................................... 142 Table 6.17: Global Military Artillery Shells Market, $Billion, 2019-2025.......................................... 146 Table 6.18: Global Military Bombs Market, $Billion, 2019-2025 ..................................................... 151 Table 6.19: Global Military Mortar Ammunition Market, $Billion, 2019-2025 .................................. 156 Table 6.20: Global Military Medium-Caliber Mortar Ammunition Market, $Billion, 2019-2025 ....... 158 Table 6.21: Global Military Small-Caliber Mortar Ammunition Market, $Billion, 2019-2025............ 160 Table 6.22: Global Military Bullets Market, $Billion, 2019-2025 ..................................................... 163 Table 6.23: Global Military Medium Caliber Ammunition Market, $Billion, 2019-2025 ................... 164 Table 6.24: Countries and their 20mm Caliber Weapons .............................................................. 165 Table 6.25: Countries and their 20mm Caliber Weapons .............................................................. 167 Table 6.26: Global Military Small-Caliber Ammunition Market, $Billion, 2019-2025 ....................... 174 Table 6.27: Countries and their 5.56mm Caliber Rifles .................................................................. 175 Table 6.28: Countries and their 7.62mm Caliber Rifles .................................................................. 178 Table 6.29: Global Military Grenades Market, $Billion, 2019-2025 ................................................ 183 Table 6.30: Global Military Explosive Grenades Market, $Billion, 2019-2025 ................................ 184 Table 6.31: Global Military Non-Explosives Grenades Market, $Billion, 2019-2025....................... 187 Table 7.1: Global Military Ammunition Market (by Guidance), $Billion, 2019-2025 ........................ 192 Table 7.2: Major Guided Munition Programs ................................................................................. 194 Table 7.3: Key Strategic Developments ......................................................................................... 197 Table 8.1: Global Military Ammunition Market (by Region), $Billion, 2019-2025 ............................ 200 Table 8.2: North America Military Ammunition Market (by Platform), $Billion, 2019-2025 ............ 202

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Global Military Ammunition Market

Table 8.3: North America Military Ammunition Market (by Product), $Billion, 2019-2025 .............. 202 Table 8.4: North America Military Ammunition Market (by Country), $Billion, 2019-2025 .............. 203 Table 8.5: U.S. Military Ammunition Market (by Platform), $Billion, 2019-2025 ............................. 207 Table 8.6: U.S. Military Ammunition Market (by Product), $Billion, 2019-2025 .............................. 208 Table 8.7: Canada Military Ammunition Market (by Platform), $Billion, 2019-2025........................ 209 Table 8.8: Canada Military Ammunition Market (by Product), $Billion, 2019-2025......................... 210 Table 8.9: Europe Military Ammunition Market (by Platform), $Billion, 2019-2025......................... 212 Table 8.10: Europe Military Ammunition Market (by Product), $Billion, 2019-2025........................ 213 Table 8.11: Europe Military Ammunition Market (by Country), $Billion, 2019-2025 ....................... 214 Table 8.12: Russia Military Ammunition Market (by Platform), $Billion, 2019-2025 ....................... 216 Table 8.13: Russia Military Ammunition Market (by Product), $Billion, 2019-2025 ........................ 217 Table 8.14: U.K. Military Ammunition Market (by Platform), $Billion, 2019-2025 ........................... 219 Table 8.15: U.K. Military Ammunition Market (by Product), $Billion, 2019-2025 ............................ 219 Table 8.16: France Military Ammunition Market (by Platform), $Billion, 2019-2025 ....................... 221 Table 8.17: France Military Ammunition Market (by Product), $Billion, 2019-2025 ........................ 222 Table 8.18: Germany Military Ammunition Market (by Platform), $Billion, 2019-2025 ................... 224 Table 8.19: Germany Military Ammunition Market (by Product), $Billion, 2019-2025 .................... 225 Table 8.20: Italy Military Ammunition Market (by Platform), $Billion, 2019-2025 ............................ 227 Table 8.21: Italy Military Ammunition Market (by Product), $Billion, 2019-2025............................. 227 Table 8.22: Major Rest-of-Europe Countries ................................................................................. 228 Table 8.23: Rest-of-Europe Military Ammunition Market (by Platform), $Billion, 2019-2025 ......... 229 Table 8.24: Rest-of-Europe Military Ammunition Market (by Product), $Billion, 2019-2025 ........... 230 Table 8.25: Asia-Pacific Military Ammunition Market (by Platform), $Billion, 2019-2025................ 232 Table 8.26: Asia-Pacific Military Ammunition Market (by Product), $Billion, 2019-2025................. 233 Table 8.27: Asia-Pacific Military Ammunition Market (by Country), $Billion, 2019-2025 ................ 234 Table 8.28: China Military Ammunition Market (by Platform), $Billion, 2019-2025 ......................... 236 Table 8.29: China Military Ammunition Market (by Product), $Billion, 2019-2025 .......................... 237 Table 8.30: India Military Ammunition Market (by Platform), $Billion, 2019-2025........................... 239 Table 8.31: India Military Ammunition Market (by Product), $Billion, 2019-2025 ........................... 239 Table 8.32: South Korea Military Ammunition Market (by Platform), $Billion, 2019-2025 .............. 241 Table 8.33: South Korea Military Ammunition Market (by Product), $Billion, 2019-2025 ............... 242

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Global Military Ammunition Market

Table 8.34: Japan Military Ammunition Market (by Platform), $Billion, 2019-2025 ........................ 244 Table 8.35: Japan Military Ammunition Market (by Product), $Billion, 2019-2025 ......................... 245 Table 8.36: Australia Military Ammunition Market (by Platform), $Billion, 2019-2025 .................... 247 Table 8.37: Australia Military Ammunition Market (by Product), $Billion, 2019-2025 ..................... 247 Table 8.38: Major Rest-of-Asia-Pacific Countries .......................................................................... 248 Table 8.39: Rest-of-Asia-Pacific Military Ammunition Market (by Platform), $Billion, 2019-2025 ......................................................................................................................... 249 Table 8.40: Rest-of-Asia-Pacific Military Ammunition Market (by Product), $Billion, 2019-2025 ......................................................................................................................... 250 Table 8.41: Rest-of-the-World Military Ammunition Market (by Platform), $Billion, 2019-2025 ..... 252 Table 8.42: Rest-of-the-World Military Ammunition Market (by Product), $Billion, 2019-2025 ....... 253 Table 8.43: Rest-of-the-World Military Ammunition Market (by Country), $Billion, 2019-2025 ...... 254 Table 8.44: Middle East Military Ammunition Market (by Platform), $Billion, 2019-2025................ 257 Table 8.45: Middle East Military Ammunition Market (by Product), $Billion, 2019-2025................. 257 Table 8.46: Latin America Military Ammunition Market (by Platform), $Billion, 2019-2025 ............ 259 Table 8.47: Latin America Military Ammunition Market (by Product), $Billion, 2019-2025 ............. 260 Table 8.48: Africa Military Ammunition Market (by Platform), $Billion, 2019-2025 ......................... 262 Table 8.49: Africa Military Ammunition Market (by Product), $Billion, 2019-2025 .......................... 262

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Global Military Ammunition Market

List of Figures Figure 1: Top 10 Countries Defense Budget, 2017-2019................................................................. 32 Figure 2: Global Military Ammunition Market, $Billion, 2019-2025 ................................................... 34 Figure 3: Global Military Ammunition Market (by Platform), $Billion, 2019-2025.............................. 35 Figure 4: Global Small Arms Market (by Region), $Million, 2019 ..................................................... 38 Figure 1.1: Market Dynamics Snapshot ........................................................................................... 41 Figure 1.2: Defense Spending (by Country), 2017, 2018, and 2019 ................................................ 42 Figure 1.3: China’s Projected War Heads ........................................................................................ 44 Figure 2.1: Key Strategies Adopted by Market Players.................................................................... 51 Figure 2.2: Percentage Share of Strategies Adopted by the Market Players, January 2017June 2020 ............................................................................................................................ 54 Figure 2.3: Product Launches by the Key Market Players, January 2017-June 2020 ...................... 55 Figure 2.4: Acquisitions, Joint Ventures, Collaborations, and Mergers by Key Market Players, January 2017-June 2020 ....................................................................................... 56 Figure 2.5: Contracts by Key Market Players, January 2017 - June 2020 ....................................... 57 Figure 2.6: Other Developments ...................................................................................................... 58 Figure 2.7: Market Share Analysis, 2019 ......................................................................................... 59 Figure 2.8: Competitive Benchmarking, 2019 .................................................................................. 60 Figure 3.1: Porter’s Five Forces Analysis of the Global Military Ammunition Market........................ 76 Figure 3.2: Threat from New Entrants .............................................................................................. 78 Figure 3.3: Threat from Substitute Products .................................................................................... 79 Figure 3.4: Bargaining Power of Suppliers ....................................................................................... 81 Figure 3.5: Bargaining Power of Buyers .......................................................................................... 83 Figure 3.6: Intensity of Competitive Rivalry ...................................................................................... 85 Figure 4.1: Global Military Ammunition Market, $Billion, 2019-2025 ................................................ 87 Figure 5.1: U.S. Defense Budget Shares (by Platform).................................................................... 88 Figure 5.2: Global Artillery Unit Ammunition Market, $Billion, 2019-2025 ........................................ 91 Figure 5.3: Global Armored Unit Ammunition Market, $Billion, 2019-2025 ...................................... 92 Figure 5.4: Global Infantry Unit Ammunition Market, $Billion, 2019-2025 ........................................ 93 Figure 5.5: Global Naval Missiles Market, $Billion, 2019-2025 ........................................................ 95

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Global Military Ammunition Market

Figure 5.6: Global Naval Artillery Market, $Billion, 2019-2025 ......................................................... 97 Figure 5.7: Global Naval Mines Market, $Million, 2019-2025 ........................................................... 98 Figure 5.8: Global Aerial Missiles Market, $Billion, 2019-2025 ...................................................... 101 Figure 5.9: Global Aerial Bombs Market, $Billion, 2019-2025 ........................................................ 104 Figure 6.1: Global Short Range Cruise Missiles Market, $Billion, 2019-2025 ................................ 115 Figure 6.2: Global Medium Range Missiles Market, $Billion, 2019-2025 ....................................... 117 Figure 6.3: Global Long-Range Cruise Missiles Market, $Billion, 2019-2025 ................................ 120 Figure 6.4: Global Short-Range Ballistic Missiles Market, $Billion, 2019-2025 .............................. 127 Figure 6.5: Global Medium Range Ballistic Missiles Market, $Billion, 2019-2025 .......................... 130 Figure 6.6: Global Intermediate Range Ballistic Missiles Market, $Billion, 2019-2025 ................... 131 Figure 6.7: Global Intercontinental Ballistic Missiles Market, $Billion, 2019-2025 .......................... 134 Figure 6.8: Global Other Ballistic Missiles Market Market, $Million, 2019-2025 ............................. 141 Figure 6.9: Global Artillery Rockets Market, $Billion, 2019-2025 ................................................... 143 Figure 6.10: Global Air-Launched Rockets Market, $Billion, 2019-2025 ........................................ 144 Figure 6.11: Global Military Portable Rockets Market, $Billion, 2019-2025 .................................... 145 Figure 6.12: Global Military Guided Shells Market, $Billion, 2019-2025 ......................................... 147 Figure 6.13: Global Military Armor-Piercing Shells Market, $Billion, 2019-2025 ............................ 148 Figure 6.14: Global Military High-Explosive Shells Market, $Billion, 2019-2025 ............................ 149 Figure 6.15: Global Military Non-lethal Shells Market, $Billion, 2019-2025 .................................... 149 Figure 6.16: Global Military Guided Bombs Market, $Billion, 2019-2025 ....................................... 152 Figure 6.17: Global Military General-Purpose Bombs Market, $Billion, 2019-2025........................ 153 Figure 6.18: Global Military Gravity Bomb Market, $Billion, 2019-2025 ......................................... 154 Figure 6.19: Global Military Naval Mines Market, $Million, 2019-2025........................................... 155 Figure 6.20: Global Large Caliber Mortar Ammunition Market, $Billion, 2019-2025....................... 157 Figure 6.21: Global Military 81mm Ammunition Market, $Million, 2019-2025 ................................ 159 Figure 6.22: Global Military 82mm Ammunition Market, $Million, 2019-2025 ................................ 160 Figure 6.23: Global Military 60mm Ammunition Market, $Billion, 2019-2025 ................................. 161 Figure 6.24: Global Military 51mm Ammunition Market, $Million, 2019-2025 ................................ 162 Figure 6.25: Global Military 20mm Ammunition Market, $Million, 2019-2025 ................................ 166 Figure 6.26: Global Military 30mm Ammunition Market, $Million, 2019-2025 ................................ 170 Figure 6.27: Global Military 25mm Ammunition Market, $Million, 2019-2025 ................................ 171

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Global Military Ammunition Market

Figure 6.28: Global Military 40mm Ammunition Market, $Million, 2019-2025 ................................ 172 Figure 6.29: Global Other Military Medium Caliber Ammunition Market, $Million, 2019-2025........ 173 Figure 6.30: Global Military 5.56mm Ammunition Market, $Million, 2019-2025 ............................. 177 Figure 6.31: Global Military 7.62mm Ammunition Market, $Million, 2019-2025 ............................. 178 Figure 6.32: Global Military 9mm Ammunition Market, $Million, 2019-2025 .................................. 180 Figure 6.33: Global Military 12.7mm Ammunition Market, $Million, 2019-2025 ............................. 181 Figure 6.34: Global Other Military Small-Caliber Ammunition Market, $Million, 2019-2025 ........... 182 Figure 6.35: Global Military Fragmentation Grenade Market, $Million, 2019-2025 ........................ 185 Figure 6.36: Global Military High Explosive Grenade Market, $Million, 2019-2025 ........................ 186 Figure 6.37: Global Military Smoke Grenade Market, $Million, 2019-2025 .................................... 188 Figure 6.38: Global Military Stun Grenade Market, $Million, 2019-2025 ........................................ 189 Figure 6.39: Global Military Sting Grenade Market, $Million, 2019-2025 ....................................... 190 Figure 6.40: Global Military Incendiary Grenade Market, $Million, 2019-2025 ............................... 191 Figure 7.1: The U.S. DoD Budget Amount for Guided Weapons, 2015-2025 ................................ 193 Figure 7.2: The U.S. DoD Procurement of Guided Weapons, 2015-2025 ..................................... 194 Figure 7.3: Global Military Guided Ammunition Market, $Billion, 2019-2025.................................. 196 Figure 7.4: Global Military Non-Guided Ammunition Market, $Billion, 2019-2025 .......................... 198 Figure 8.1: North America Military Ammunition Market, $Billlion, 2019-2025 ................................. 201 Figure 8.2: North America Military Ammunition Market Share, 2019.............................................. 204 Figure 8.3: U.S. Military Aid, $Billion, 2014-2018 ........................................................................... 205 Figure 8.4: U.S. Military Ammunition Market, $Billlion, 2019-2025................................................. 206 Figure 8.5: Canada Military Ammunition Market, $Billlion, 2019-2025 ........................................... 209 Figure 8.6: Europe Military Ammunition Market, $Billlion, 2019-2025 ............................................ 211 Figure 8.7: Europe Military Ammunition Market Share, 2019 ......................................................... 214 Figure 8.8: Russia Military Ammunition Market, $Billlion, 2019-2025............................................. 215 Figure 8.9: U.K. Military Ammunition Market, $Billlion, 2019-2025................................................. 218 Figure 8.10: France Military Ammunition Market, $Billlion, 2019-2025 .......................................... 221 Figure 8.11: Germany Military Ammunition Market, $Billlion, 2019-2025 ....................................... 223 Figure 8.12: Italy Military Ammunition Market, $Billlion, 2019-2025 ............................................... 226 Figure 8.13: Rest-of-Europe Military Ammunition Market, $Billlion, 2019-2025 ............................. 229 Figure 8.14: Asia-Pacific Military Ammunition Market, $Billlion, 2019-2025 ................................... 231

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Global Military Ammunition Market

Figure 8.15: Asia-Pacific Military Ammunition Market Share, 2019 ................................................ 234 Figure 8.16: China Military Ammunition Market, $Billlion, 2019-2025 ............................................ 235 Figure 8.17: India Military Ammunition Market, $Billlion, 2019-2025 .............................................. 238 Figure 8.18: South Korea Military Ammunition Market, $Billlion, 2019-2025.................................. 241 Figure 8.19: Japan Military Ammunition Market, $Billlion, 2019-2025 ............................................ 243 Figure 8.20: Australia Military Ammunition Market, $Billlion, 2019-2025 ........................................ 246 Figure 8.21: Rest-of-Asia-Pacific Military Ammunition Market, $Billlion, 2019-2025 ...................... 249 Figure 8.22: Rest-of-the-World Military Ammunition Market, $Billlion, 2019-2025 ......................... 251 Figure 8.23: Rest-of-the-World Military Ammunition Market Share, 2019 ...................................... 254 Figure 8.24: Middle East Military Ammunition Market, $Billlion, 2019-2025 ................................... 256 Figure 8.25: Latin America Military Ammunition Market, $Billlion, 2019-2025 ................................ 259 Figure 8.26: Africa Military Ammunition Market, $Billlion, 2019-2025 ............................................ 261 Figure 9.1: Share of Key Company Profiles ................................................................................... 264 Figure 9.2: BAE Systems – Product Offerings ............................................................................... 266 Figure 9.3: BAE Systems - Financials, 2017-2019......................................................................... 267 Figure 9.4: BAE Systems - Business Revenue Mix, 2017-2019 .................................................... 267 Figure 9.5: BAE Systems - Region Revenue Mix, 2017-2019 ....................................................... 268 Figure 9.6: BAE Systems – Research and Development Expenditure, 2017-2019 ....................... 268 Figure 9.7: SWOT Analysis – BAE Systems .................................................................................. 270 Figure 9.8: CBC Ammo – Product Offerings .................................................................................. 272 Figure 9.9: SWOT Analysis – CBC Ammo..................................................................................... 273 Figure 9.10: Chemring Group PLC – Product Offerings................................................................. 275 Figure 9.11: Chemring Group PLC - Financials, 2017-2019 .......................................................... 276 Figure 9.12: Chemring Group PLC - Business Revenue Mix, 2017-2019 ...................................... 276 Figure 9.13: Chemring Group PLC - Region Revenue Mix, 2017-2019 ......................................... 277 Figure 9.14: Chemring Group PLC – Research and Development Expenditure, 2017-2019 ......... 277 Figure 9.15: SWOT Analysis – Chemring Group PLC ................................................................... 279 Figure 9.16: Denel SOC Ltd – Product Offerings ........................................................................... 281 Figure 9.17: Denel SOC Ltd - Financials, 2017-2019 .................................................................... 282 Figure 9.18: Denel SOC Ltd - Business Revenue Mix, 2017-2019 ................................................ 282 Figure 9.19: Denel SOC Ltd - Region Revenue Mix, 2017-2019 ................................................... 283

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Global Military Ammunition Market

Figure 9.20: Denel SOC Ltd – Research and Development Expenditure, 2017-2019 ................... 283 Figure 9.21: SWOT Analysis – Denel SOC Ltd.............................................................................. 285 Figure 9.22: Elbit System Ltd. – Product Offerings ........................................................................ 287 Figure 9.23: Elbit Systems Ltd.- Financials, 2017-2019 ................................................................. 288 Figure 9.24: Elbit Systems - Business Revenue Mix, 2017-2019................................................... 288 Figure 9.25: Elbit Systems Ltd. - Region Revenue Mix, 2017-2019 ............................................... 289 Figure 9.26: Elbit Systems Ltd. – Research and Development Expenditure, 2017-2019 ............... 289 Figure 9.27: SWOT Analysis – Elbit Systems Ltd. ......................................................................... 291 Figure 9.28: FN HERSTAL – Product Offerings............................................................................. 293 Figure 9.29: SWOT Analysis – FN HERSTAL ............................................................................... 294 Figure 9.30: General Dynamics Corporation – Product Offerings .................................................. 296 Figure 9.31: General Dynamics Corporation - Financials, 2017-2019............................................ 297 Figure 9.32: General Dynamics Corporation - Business Revenue Mix, 2017-2019 ....................... 297 Figure 9.33: General Dynamics Corporation – Combat System Revenue Mix, 2017-2019 ........... 298 Figure 9.34: General Dynamics Corporation - Region Revenue Mix, 2017-2019 .......................... 298 Figure 9.35: General Dynamics Corporation - Research and Development Expenditure, 2017-2019 ......................................................................................................................... 299 Figure 9.36: SWOT Analysis – General Dynamics Corporation..................................................... 300 Figure 9.37: EXPAL Systems– Product Offerings .......................................................................... 302 Figure 9.38: SWOT Analysis – EXPAL Systems ........................................................................... 303 Figure 9.39: Lockheed Martin Corporation – Product Offerings ..................................................... 305 Figure 9.40: Lockheed Martin Corporation - Financials, 2017-2019............................................... 305 Figure 9.41: Lockheed Martin Corporation - Business Revenue Mix, 2017-2019 .......................... 306 Figure 9.42: Lockheed Martin Corporation - Region Revenue Mix, 2017-2019 ............................. 306 Figure 9.43: Lockheed Martin Corporation - Research and Development Expenditure, 2017-2019 ......................................................................................................................... 307 Figure 9.44: SWOT Analysis – Lockheed Martin Corporation........................................................ 308 Figure 9.45: Nammo AS – Product Offerings................................................................................. 310 Figure 9.46: Nammo AS - Financials, 2017-2019 .......................................................................... 311 Figure 9.47: Nammo AS - Region Revenue Mix, 2017-2019 ......................................................... 311 Figure 9.48: Nammo AS – Research and Development Expenditure, 2017-2019 ......................... 312

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Global Military Ammunition Market

Figure 9.49: SWOT Analysis – Nammo AS ................................................................................... 313 Figure 9.50: Nexter KNDS group– Product Offerings .................................................................... 315 Figure 9.51: SWOT Analysis – Nexter KNDS group ...................................................................... 316 Figure 9.52: Northrop Grumman Corporation – Product Offerings................................................. 318 Figure 9.53: Northrop Grumman Corporation - Financials, 2017-2019 .......................................... 318 Figure 9.54: Northrop Grumman Corporation - Business Revenue Mix, 2017-2019 ...................... 319 Figure 9.55: Northrop Grumman Corporation - Region Revenue Mix, 2017-2019 ......................... 319 Figure 9.56: Northrop Grumman Corporation – Research and Development Expenditure, 2017-2019 ......................................................................................................................... 320 Figure 9.57: SWOT Analysis – Northrop Grumman Corporation ................................................... 321 Figure 9.58: Olin Corporation – Product Offerings ......................................................................... 323 Figure 9.59: Olin Corporation - Financials, 2017-2019................................................................... 323 Figure 9.60: Olin Corporation - Business Revenue Mix, 2017-2019 .............................................. 324 Figure 9.61: Olin Corporation - Region Revenue Mix, 2017-2019 ................................................. 324 Figure 9.62: Olin Corporation – Research and Development Expenditure, 2017-2019 ................. 325 Figure 9.63: SWOT Analysis – Olin Corporation............................................................................ 326 Figure 9.64: Poongsan Corporation– Product Offerings ................................................................ 328 Figure 9.65: Poongsan Corporation - Financials, 2017-2019 ......................................................... 328 Figure 9.66: Poongsan Corporation - Business Revenue Mix, 2017-2019 .................................... 329 Figure 9.67: Poongsan Corporation - Region Revenue Mix, 2017-2019........................................ 329 Figure 9.68: Poongsan Corporation– Research and Development Expenditure, 2017-2019......... 330 Figure 9.69: SWOT Analysis – Poongsan Corporation .................................................................. 331 Figure 9.70: Raytheon Technologies Corporation – Product Offerings .......................................... 333 Figure 9.71: Raytheon Technologies Corporation - Financials, 2017-2019 ................................... 334 Figure 9.72: Raytheon Technologies Corporation - Business Revenue Mix, 2017-2019 ............... 334 Figure 9.73: Raytheon Technologies Corporation - Region Revenue Mix, 2017-2019 .................. 335 Figure 9.74: Raytheon Technologies Corporation – Research and Development Expenditure, 2017-2019 .................................................................................................... 335 Figure 9.75: SWOT Analysis – Raytheon Technologies Corporation............................................. 337 Figure 9.76: Rheinmetall AG – Product Offerings .......................................................................... 339 Figure 9.77: Rheinmetall - Financials, 2017-2019.......................................................................... 339

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Global Military Ammunition Market

Figure 9.78: Rheinmetall AG Group - Business Revenue Mix, 2017-2019 .................................... 340 Figure 9.79: Rheinmetall AG Group - Region Revenue Mix, 2017-2019 ....................................... 340 Figure 9.80: SWOT Analysis – Rheinmetall AG Group .................................................................. 342 Figure 9.81: Rosoboronexport– Product Offerings......................................................................... 344 Figure 9.82: SWOT Analysis – Rosoboronexport .......................................................................... 345 Figure 9.83: RUAG Group (RUAG Ammotec AG) – Product Offerings .......................................... 347 Figure 9.84: RUAG Group (RUAG Ammotec AG) - Financials, 2017-2019 ................................... 348 Figure 9.85: RUAG Group (RUAG Ammotec AG) - Business Revenue Mix, 2017-2019 ............... 348 Figure 9.86: RUAG Group (RUAG Ammotec AG) - Region Revenue Mix, 2017-2019 .................. 349 Figure 9.87: RUAG Group (RUAG Ammotec AG) – Research and Development Expenditure, 2017-2019 .................................................................................................... 349 Figure 9.88: SWOT Analysis – RUAG Group (RUAG Ammotec AG) ............................................ 351 Figure 9.89: Singapore Technologies Engineering Ltd.– Product Offerings................................... 353 Figure 9.90: Singapore Technologies Engineering Ltd. - Financials, 2017-2019 ........................... 354 Figure 9.91: Singapore Technologies Engineering Ltd. - Business Revenue Mix, 2017-2019 ...... 354 Figure 9.92: Singapore Technologies Engineering Ltd. - Region Revenue Mix, 2017-2019 .......... 355 Figure 9.93: Singapore Technologies Engineering Ltd. – Research and Development, 2017-2019 ......................................................................................................................... 355 Figure 9.94: SWOT Analysis – Singapore Technologies Engineering Ltd. .................................... 357 Figure 9.95: Thales Group – Product Offerings ............................................................................. 359 Figure 9.96: Thales Group - Financials, 2017-2019 ....................................................................... 360 Figure 9.97: Thales Group - Business Revenue Mix, 2017-2019................................................... 360 Figure 9.98: Thales Group - Region Revenue Mix, 2017-2019 ...................................................... 361 Figure 9.99: Thales Group – Research and Development Expenditure, 2017-2019 ...................... 361 Figure 9.100: SWOT Analysis – Thales Group .............................................................................. 363 Figure 9.101: Vista Outdoor Operations LLC– Product Offerings .................................................. 365 Figure 9.102: Vista Outdoor Operations LLC - Financials, 2017-2019 ........................................... 365 Figure 9.103: Vista Outdoor Operations LLC - Business Revenue Mix, 2017-2019 ...................... 366 Figure 9.104: Vista Outdoor Operations LLC - Region Revenue Mix, 2017-2019.......................... 366 Figure 9.105: Vista Outdoor Operations LLC– Research and Development Expenditure, 2017-2019 ......................................................................................................................... 367

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Global Military Ammunition Market

Figure 9.106: SWOT Analysis – Vista Outdoor Operations LLC .................................................... 368 Figure 10.1: Research Design and Flow ........................................................................................ 370 Figure 10.2: Secondary Data Sources ........................................................................................... 372 Figure 10.3: Top-Down and Bottom-up Approach ......................................................................... 373 Figure 10.4: Military Ammunition Market: Influencing Factors........................................................ 374 Figure 10.5: Assumptions and Limitations ..................................................................................... 374

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Global Military Ammunition Market

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Global Military Ammunition Market

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