Global ammunition market was worth USD 11.8 billion in 2015. It is anticipated to grow at a CAGR exceeding 2% from 2016 to 2024 (forecast period). Soaring military expenditures by various governments is the chief growth driver.

Countries such as China, India, Israel and the U.S. are implementing stockpiling and modernization programs. Mexico and Brazil are arming their police personnel with the latest weaponry. Upgrading military weapons requires higher allocation of funds for ammunition. This is expected to have a positive effect on market growth. Technological advancements such as smart weapons in developed regions could also propel the ammunition industry.

Another prominent characteristic of the defense industry is the investment in modernizing military equipment. Developed nations in particular, are acquiring smart weapons for law enforcement. Furthermore, the emphasis on range, precision, weight and lethality of ammunition is on the rise. This has paved the way for guided precision ammunition. Many manufacturers are investing in the research and development of advanced products that are lightweight and that offer high precision. Such technological innovations are creating new opportunities for companies operating in the global market.

Key Players:
Some of the prominent ones are Ruag Ammotech, Magtech Ammunition Co., BAE systems, Olin Corporation and Remington Arms Company Inc.  The market is characterized by widespread mergers and acquisitions with an aim to stay competitive and ensure profitability. Consolidation also solidifies the market position of vendors.

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The worldwide high heat foam market is categorized on the basis of products, applications, and regions. Products are divided into melamine, silicone, polyimide, polyethylene, and others. Silicone dominated the market in 2015. It accounted for 35% of the total revenues that year, and is likely to grow at a CAGR of 5.4% from 2016 to 2024 (forecast period). Industrial applications generate most of the demand for silicone products.

Polyimide fetched revenues worth USD 1.3 billion in 2015. Its benefits include strong fire resistance, low weight, and eco-friendliness. Melamine occupied 12% of the market in 2015. It could grow at a CAGR of 7.5% in the forecast period. Its ability to offer excellent thermal insulation is driving its adoption in the aerospace industry.

Applications comprise industrial, automotive, locomotive, aerospace, and others. Automotive, with 33% of the market volumes, was the largest consumer in 2015. It should grow at a CAGR of 5.4% over the next eight years. High heat foams are extensively used in the interiors of high performance cars to improve their engines’ capabilities. Aerospace applications accounted for USD 1.2 billion in 2015.

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