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North America contributes a large market share, as the U.S. being the largest defense spender in the North America accounting nearly 80% of the entire market share in the region. Africa is expected to show steady growth in the forecast period due to economic growth and ensuing conflict throughout the continent. In Latin America, Brazil is the largest spender in ammunitions. Spending on small caliber ammunition is high as compared to other ammunitions, hence contributes the largest portion of the market share.