South Korea Ammunition Market Size & Outlook, 2023-2030
South Korea ammunition market, 2018-2030 (US$M)
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South Korea ammunition market highlights
- The South Korea ammunition market generated a revenue of USD 530.3 million in 2023 and is expected to reach USD 697.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, small caliber was the largest revenue generating caliber in 2023.
- Rockets & Missiles is the most lucrative caliber segment registering the fastest growth during the forecast period.
Ammunition market data book summary
| Market revenue in 2023 | USD 530.3 million |
| Market revenue in 2030 | USD 697.6 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Small caliber |
| Fastest growing segment | Rockets & Missiles |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small Caliber, Medium Caliber, Large Caliber, Rockets & Missiles |
| Key market players worldwide | Northrop Grumman Corp, Olin Corp, General Dynamics Corp, BAE Systems PLC, Rheinmetall AG, Hanwha, Temasek Holdings, Vista Outdoor Inc, FN Herstal, Nexaer, Remington Arms Company |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global ammunition market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China ammunition market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,648.6 million by 2030.
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Ammunition Market Scope
Ammunition Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea ammunition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ammunition market will help companies and investors design strategic landscapes.
Small caliber was the largest segment with a revenue share of 45.69% in 2023. Horizon Databook has segmented the South Korea ammunition market based on small caliber, medium caliber, large caliber, rockets & missiles covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has been facing an underlying threat of war from its neighboring country, North Korea. The government has been gradually increasing the border defense measures owing to intensifying encounters with North Korea, which is expected to drive the demand for ammunition in the country.
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Target buyers of South Korea ammunition market databook
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Our clientele includes a mix of ammunition market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea ammunition market, including forecasts for subscribers. This country databook contains high-level insights into South Korea ammunition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea ammunition market size, by caliber, 2018-2030 (US$M)
South Korea Ammunition Market Share, 2023 & 2030 (US$M)
Related regional statistics
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