USD 55.16 billion
Ammunition Market Size, Share, Growth Analysis, By Small Ammunition Product(Rimfire, and Centerfire), By End-use(Civil & Commercial, and Defense), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2094 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
61
|Figures:
75
Ammunition Market Insights
Ammunition Market size was valued at USD 55.16 billion in 2022 and is poised to grow from USD 58.25 billion in 2023 to USD 90.07 billion by 2031, growing at a CAGR of 5.60% during the forecast period (2024-2031).
Rapidly increasing military & defense spending around the world is projected to primarily drive up the demand for ammunition. High investments in the development of modern ammunition and advancements in weapons technologies are also expected to boost sales of ammunition in the future. Rising geopolitical tensions around the world and increasing risk of terrorism and terrorist attacks are also estimated to create new opportunities for ammunition providers going forward. Frequent outbreaks of wars in different countries will also bolster sales of ammunition in the long run. Developed as well as developing countries are providing lucrative business scope for ammunition companies. The rising use of firearms among civilians to ensure their own safety and the growing issuance of new firearm licenses for civilians are also estimated to bolster the demand for ammunition over the coming years. On the contrary, environmental concerns of traditional ammunition, stringent regulations for ammunition sales and usage, and supply chain issues are estimated to be top restraints for ammunition market development across the study period and beyond.
US Ammunition Market is poised to grow at sustainable CAGR for the next forecast year
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Centerfire
Fastest Growth
Centerfire
Growth Rate
5.60% CAGR
Global Ammunition Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Ammunition Market Segmental Analysis
The global ammunition market is segmented on the basis of small ammunition product, end-use, and region. By small ammunition product, the market is segmented into rimfire, centerfire. By end-use, the market is segmented into civil & commercial, and defense. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Ammunition Market Analysis by Caliber
Large caliber ammunition is projected to account for a dominant share of the global ammunition market. Increasing demand for large caliber weapons around the world and high investments in the development of novel large caliber ammunition are helping this segment maintain its high market share. Better range and high firepower offered by large caliber ammunition is what makes them a popular choice among military and defense end users. Rifles, shotguns, tanks, naval guns, and machine guns are some key weapons where large caliber ammunition is required.
On the other hand, the demand for small caliber ammunition is projected to rise at a rapid pace over the coming years. Increasing sales of weapons and firearms among civilians and growing use of small weapons such as pistols and handguns for personal security are helping this segment become a highly opportune one for ammunition providers going forward. Small caliber firearms are also used in different military applications and hunting as well. Increasing interest in hunting in some parts of the world will also favor market growth via this segment going forward.
Ammunition Market Analysis by End Use
Defense is projected to account for a massive share of the global ammunition demand outlook. Growing spending on military and defense around the world owing to rising risk of terrorist attacks and increasing geopolitical tensions are helping this segment maintain its dominance. Launch of new defense modernization programs and increasing investments in procurement of novel defense weapons and machinery will also help this segment generate major revenue for ammunition companies in the long run. Developed countries are slated to be highly opportune for companies looking to invest in this segment.
Meanwhile, the demand for ammunition among civil and commercial users is estimated to rise at a notable pace across the study period and beyond. Increasing crime rates around the world are pushing civilians to bear weapons, which in turn is projected to help this segment bolster ammunition demand. Increasing use of weapons by private security companies and security providers is also expected to increase sales of ammunition in the future. Underdeveloped and developing countries with high crime rates are slated to help bolster ammunition demand via this segment in the long run.
Global Ammunition Market By End Use
To get detailed analysis on other segments, Request For Free Sample Report
Ammunition Market Regional Insights
North America is estimated to secure the top spot when it comes to the ammunition market. High military and defense spending coupled with the presence of key ammunition manufacturers helps this region remain the undisputed leader in the global ammunition market. The high military spending and favorable firearm regulations make the United States most lucrative market for ammunition providers in this region. Rising demand for advanced weapons and high investments in the development of new ammunition technologies are also helping this region generate more business for all market players. Canda is also expected to contribute to high demand for ammunition in the North America region through 2031.
Increasing geopolitical tensions remain the prime factor for making the Asia Pacific region the fastest growing market for ammunition companies. India, China, Japan, and Pakistan are slated to be the most opportune markets for ammunition providers operating in this region. Increasing military and defense expenditure, launch of law enforcement modernization programs, and growing availability of novel ammunition products are also expected to help generate new opportunities for market players going forward. Increasing terrorism activities in this region are also expected to bolster the sales of ammunition in the future.
Global Ammunition Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Ammunition Market Dynamics
Ammunition Market Drivers
Growing Spending on Military & Defense
- Countries and governments around the world are increasing their spending on military and defense applications to deal with rising political tensions and increasing risk of terrorism. This increased spending on military and defense is projected to uplift the sales of ammunition over the coming years.
Modernization of Law Enforcement
- Law enforcement agencies and organizations around the world are being modernized and equipped with advanced weapons and ammunition to deal with rising crime rates effectively. Surging violence and criminal activities around the world are also contributing to high demand for law enforcement modernization thereby also favoring ammunition market growth.
Restraints
Environmental Contamination
- Traditional lead-based ammunition has been known to contaminate soil as well as water. As focus on sustainability increases, preference for sustainable ammunition alternatives is projected to rise and render traditional ammunition obsolete. Using sustainable materials for ammunition manufacturing could reduce profits for market players and slow down market growth.
Stringent Regulations for Firearms
- Sales, import, export, and usage of firearms and ammunition are highly regulated by governments around the world. Imposition of more strict regulations to own, sell, import, or export firearms and ammunition is expected to slow down the sales of ammunition in the future.
Request Free Customization of this report to help us to meet your business objectives.
Ammunition Market Competitive Landscape
Ammunition providers should focus on targeting countries with high military and defense expenditure to maximize their sales. Ensuring regulatory compliance with different standards and regulations will be highly crucial for any ammunition company looking to make a mark in this market. Use of eco-friendly materials and integration of smart technologies will also provide highly rewarding opportunities for ammunition companies in the long run.
Ammunition Market Top Player’s Company Profiles
- Northrop Grumman Corporation (US)
- General Dynamics Corporation (US)
- Olin Corporation (US)
- BAE Systems (UK)
- Rheinmetall AG (Germany)
- FN Herstal (Belgium)
- Poongsan Corporation (South Korea)
- Nammo AS (Norway)
- Vista Outdoor Inc. (US)
- ST Engineering (Singapore)
- CBC Group (Brazil)
- Nexter Group (France)
- Denel SOC Ltd (South Africa)
- Ruag Ammotec (Switzerland)
- Tulammo (Russia)
- CCI Ammunition (US)
- Eley Limited (UK)
- Hornady Manufacturing Company (US)
- Lapua (Finland)
- Remington Arms Company (US)
Ammunition Market Recent Developments
- In July 2024, Swiss Confederation, commissioned Rheinmetall to manufacture and supply 81mm mortar cargo ammunition. Rheinmetall is expected to complete the delivery of this order by 2025 and this has also bolstered its presence in the global ammunition market.
- In August 2024, Defense Minister of Estonia, Hanno Pevkur announced the intention of Estonia to start ammunition production in 2025. The military town of Emari is projected to be chosen for the start of ammunition production in Estonia as the country focuses on ramping up its ammunition production to reduce dependency on imports.
- In June 2024, a new missile-cum-ammunition barge developed by Secon Engineering Projects Pvt. Ltd. For the Indian navy was launched. The new offerings are designed and manufactured in India after the contract for the same was awarded to Secon back in February 2021.
Ammunition Key Market Trends
- Development of Smart Ammunition: Ammunition embedded with advanced technology, such as laser-guided and programmable features is projected to be highly popular as the world turns towards modern warfare. Ammunition companies need to invest in the development of ammunition to maximize their business scope in the long run and improve revenue generation as well.
- Expanding Business in Asia Pacific: Ammunition providers can target the Asia Pacific region to maximize their business scope in the future. Increasing geopolitical tensions in countries such as South Korea, Japan, China, India, and Pakistan are bolstering the demand for ammunition in this region. Growing military and defense expenditure of these countries will provide lucrative opportunities for ammunition suppliers going forward.
Ammunition Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing military and defense spending and rising crime activity around the world are projected to drive the demand for ammunition in the future. However, stringent regulations for firearm and ammunition purchase and adverse environmental impact of traditional ammunition are slated to impede ammunition market growth. North America is estimated to spearhead the demand for ammunition owing to high military spending budget of the United States. Development of smart ammunition is slated to create new business scope for ammunition companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 55.16 billion |
| Market size value in 2031 | USD 90.07 billion |
| Growth Rate | 5.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ammunition Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ammunition Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ammunition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ammunition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ammunition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ammunition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
