Ammunition Market

Global Ammunition Market Size By Product Type (Bullets, Artillery Shells, Aerial Bombs, Mortars), By Calibre (Small, Medium, Large), By Application (Defense, Civil & Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12769
  • Published Date: May, 2022
  • Pages: 234
  • Category: Aerospace & Defence
  • Format: PDF
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The global ammunition market is expected to reach USD 33.4 billion by 2030, at a CAGR of 4.2% during the forecast period 2022 to 2030. The ammunition market has been growing owing to the changing nature of warfare and the increasing incidence of drug trafficking over the forecast period.

Market Overview:

Ammunition is an object inserted inside a weapon such as bullets, artillery shells, aerial bombs, or mortars to shoot any target. Ammunitions comprise a projectile, a propellant, and a primer. The primer helps in igniting the propellant. Ammunitions are made from various metals such as brass, steel, etc., to increase the intensity. The main aim of ammunition is to project a force against a target selected to have an effect. A firearm cartridge is an example of ammunition with all the essential components required to deliver the weapon's impact in a single package. Ammunition comes in various types and sizes and is often used only in a specific weapon system. However, several international standards specify the use of certain ammunition across different weapons by different users. Particular types of ammunition are designed to have a specialized effect on a target, such as a tracer ammunition and armor-piercing shells, used only in specific situations. Ammunition is both expendable weapons and the parts of other weapons that create the effect on a target. In recent times, the investment by governments of various countries has increased in creating a backup of ammunition in their defense forces because of the growing geopolitical tensions worldwide.

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Market Dynamics:

Drivers:
  • Modernization schemes up by military forces

The increasing rate of armed local and foreign conflicts has driven various nations to increase their military power by acquiring advanced ammunition and apparatus. Defense forces of emerging economies of the world, including China, India, Saudi Arabia, Russia, and Turkey, are using modernization schemes for development. As a result of this, defense disbursement for ammunition procurement and research and development steps has increased notably in the military along with the modernization programs to enhance and upgrade their inspection terms and improve their firepower benefits in terms of range, precision, mobility, and lethality, with coverage and precision being the central point of ammunition which drives the market’s growth.

Restraints:
  • Impact of Covid-19

The COVID-19 pandemic affected the worldwide economies on a large scale. Several ammunition manufacturing units were put on hold and impacted the assembly lines. The disruptions in the supply chain affected the market growth for ammunition as the manufacturing was set back for the time being. The resumption of ammunition manufacturing units depends entirely on the effect of Covid-19 on that particular country. This is a major restrain for the growth of the ammunition market worldwide.

Opportunities:
  • Increase in geopolitical tensions

The growing incidences of geopolitical tensions, cross-border conflicts, and political unrest leads to the strengthening of the armed forces in many countries, including the Middle East and Asian countries. The increased procurement of small, medium, and large-caliber ammunition and the expansion of military forces is an opportunity for the market's growth during the forecast period.

Challenges:
  • Diverse laws affecting the accession of ammunition

Political, legal, and economic networks differ from country to country, which results in various regulations regarding ammunitions, arms, and other warfare equipment. This affects the primary key reasons involving the prominent players operating in the ammunition market, such as Rheinmetall AG, General Dynamics, and BAEV Systems. Not complying with these regulations and laws could lead to severe results. These strict laws and regulations related to ammunition challenge the market’s growth.

Segmentation Analysis:

The global ammunition market has been segmented based on product type, caliber, application, and regions.

  • The product type segment comprises bullets, artillery shells, aerial bombs, and mortars. The bullets segment dominated the market, with a market share of around 28% in 2021. Increasing expenditure on the defense forces by some developing economies is propelling the segment's growth.
  • The caliber type segment is divided into small, medium, and large. Over the forecast period, the large caliber segment is expected to grow at the fastest CAGR of 5.3%. The rising threats from terrorist organizations and increasing geopolitical tensions drive the segment's growth.
  • The application type segment is divided into defense and, civil & commercial. In 2021, the defense segment dominated the market, accounting for around 63% of global revenue. The ammunition market is being driven by the defense sector owing to the rising political unrest worldwide.
Regional Segmentation Analysis:

The regions analyzed for the ammunition market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global ammunition market, with a 41.3% share of the market revenue in 2021.

  • The North American region currently dominates the ammunition market with a 41.3% market revenue share in 2021. Countries in the North American region, like the U.S., have increased their investment in the defense department to acquire advanced ammunition. Increased research and development activities for the development of technologically advanced ammunition are driving the growth of the market in the region.  

North America Region Ammunition Market Share in 2021 - 41.3%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global ammunition market industry.

List of Key Market Players:

  • Northrop Grumman Corporation
  • CBC Global Ammunition
  • Ruag Ammotec
  • General Dynamics Corporation
  • Olin Corporation
  • BAE Systems
  • Thales Group
  • Rheinmetal AG
  • Nexter KNDS group
  • Elbit Systems

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Ammunition Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global ammunition market is based on revenue (USD billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global ammunition market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of ammunition based on product type, caliber, application, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global ammunition market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global ammunition market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influence the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global ammunition market) are covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the ammunition market was valued at USD 23.1 billion in 2021 to USD 33.4 billion by 2030.

The global ammunition market is growing at a CAGR of 4.2% during the forecast period 2022-2030.

The global ammunition market has been segmented based on product type, caliber, application, and regions. The bullet segment led the market in 2021. The large-caliber segment dominated the market in 2021.

North America emerged as the largest market for ammunition.

The market's growth will be influenced by modernization schemes up by military forces.

Diverse laws affecting the accession of ammunition could hamper the market growth.

An increase in geopolitical tensions will provide huge opportunities to the market.

Key players are Northrop Grumman Corporation, CBC Global Ammunition, Ruag Ammotec, General Dynamics Corporation, Olin Corporation, BAE Systems, Thales Group, Rheinmetal AG, Nexter KNDS group, and Elbit Systems

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product Type
          4.3.2. Market Attractiveness Analysis By Calibre
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Modernization schemes up by military forces
    5.3. Restraints
          5.3.1. Impact of Covid-19
    5.4. Opportunities
          5.4.1. Increase in geopolitical tensions
    5.5. Challenges
          5.5.1. Diverse laws affecting the accession of ammunition

6. Global Ammunition Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Bullets
    6.3. Artillery Shells
    6.4. Aerial Bombs
    6.5. Mortars

7. Global Ammunition Market Analysis and Forecast, By Calibre
    7.1. Segment Overview
    7.2. Small
    7.3. Medium
    7.4. Large

8. Global Ammunition Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Defense
    8.3. Civil & Commercial

9. Global Ammunition Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Ammunition Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Ammunition Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Northrop Grumman Corporation
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. CBC Global Ammunition
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Ruag Ammotec
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. General Dynamics Corporation
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Olin Corporation
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. BAE Systems
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Thales Group
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Rheinmetal AG
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Nexter KNDS group
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Elbit Systems
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Bullets Ammunition Market, By Region, 2019-2030 (USD Billion) 

3. Global Artillery Shells Ammunition Market, By Region, 2019-2030 (USD Billion)

4. Global Aerial Bombs Ammunition Market, By Region, 2019-2030 (USD Billion)

5. Global Mortars Ammunition Market, By Region, 2019-2030 (USD Billion)

6. Global Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

7. Global Small Ammunition Market, By Region, 2019-2030 (USD Billion) 

8. Global Medium Ammunition Market, By Region, 2019-2030 (USD Billion) 

9. Global Large Ammunition Market, By Region, 2019-2030 (USD Billion)

10. Global Ammunition Market, By Application, 2019-2030 (USD Billion) 

11. Global Defense Ammunition Market, By Region, 2019-2030 (USD Billion) 

12. Global Civil & Commercial Ammunition Market, By Region, 2019-2030 (USD Billion) 

13. Global Ammunition Market, By Region, 2019-2030 (USD Billion) 

14. North America Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

15. North America Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

16. North America Ammunition Market, By Application, 2019-2030 (USD Billion) 

17. U.S. Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

18. U.S. Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

19. U.S. Ammunition Market, By Application, 2019-2030 (USD Billion) 

20. Canada Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

21. Canada Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

22. Canada Ammunition Market, By Application, 2019-2030 (USD Billion) 

23. Mexico Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

24. Mexico Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

25. Mexico Ammunition Market, By Application, 2019-2030 (USD Billion) 

26. Europe Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

27. Europe Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

28. Europe Ammunition Market, By Application, 2019-2030 (USD Billion) 

29. Germany Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

30. Germany Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

31. Germany Ammunition Market, By Application, 2019-2030 (USD Billion) 

32. France Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

33. France Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

34. France Ammunition Market, By Application, 2019-2030 (USD Billion) 

35. U.K. Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

36. U.K. Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

37. U.K. Ammunition Market, By Application, 2019-2030 (USD Billion) 

38. Italy Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

39. Italy Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

40. Italy Ammunition Market, By Application, 2019-2030 (USD Billion) 

41. Spain Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

42. Spain Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

43. Spain Ammunition Market, By Application, 2019-2030 (USD Billion) 

44. Asia Pacific Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

45. Asia Pacific Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

46. Asia Pacific Ammunition Market, By Application, 2019-2030 (USD Billion) 

47. Japan Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

48. Japan Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

49. Japan Ammunition Market, By Application, 2019-2030 (USD Billion) 

50. China Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

51. China Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

52. China Ammunition Market, By Application, 2019-2030 (USD Billion) 

53. India Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

54. India Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

55. India Ammunition Market, By Application, 2019-2030 (USD Billion) 

56. South America Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

57. South America Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

58. South America Ammunition Market, By Application, 2019-2030 (USD Billion) 

59. Brazil Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

60. Brazil Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

61. Brazil Ammunition Market, By Application, 2019-2030 (USD Billion) 

62. Middle East and Africa Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

63. Middle East and Africa Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

64. Middle East and Africa Ammunition Market, By Application, 2019-2030 (USD Billion) 

65. UAE Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

66. UAE Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

67. UAE Ammunition Market, By Application, 2019-2030 (USD Billion) 

68. South Africa Ammunition Market, By Product Type, 2019-2030 (USD Billion) 

69. South Africa Ammunition Market, By Calibre, 2019-2030 (USD Billion) 

70. South Africa Ammunition Market, By Application, 2019-2030 (USD Billion) 

List of Figures 

1. Global Ammunition Market Segmentation

2. Ammunition Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Ammunition Market Attractiveness Analysis By Product Type

9. Global Ammunition Market Attractiveness Analysis By Calibre

10. Global Ammunition Market Attractiveness Analysis By Application

11. Global Ammunition Market Attractiveness Analysis By Region

12. Global Ammunition Market: Dynamics

13. Global Ammunition Market Share by Product Type (2022 & 2030)

14. Global Ammunition Market Share by Calibre (2022 & 2030)

15. Global Ammunition Market Share by Application (2022 & 2030)

16. Global Ammunition Market Share by Regions (2022 & 2030)

17. Global Ammunition Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global ammunition market based on the below-mentioned segments:

Global Ammunition Market by Product Type:

  • Bullets
  • Artillery Shells
  • Aerial Bombs
  • Mortars

Global Ammunition Market by Calibre:

  • Small
  • Medium
  • Large

Global Ammunition Market by Application:

  • Defense
  • Civil & Commercial

Global Ammunition Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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