Global Ammunition Market

Ammunition Market Size, Share, Growth Analysis, By Small Ammunition Product(Rimfire, and Centerfire), By End-use(Civil & Commercial, and Defense), By Region - Industry Forecast 2025-2032


Report ID: SQMIG20A2094 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 61 | Figures: 75

Ammunition Market Dynamics

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. 
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FAQs

Ammunition Market size was valued at USD 58.25 Billion in 2023 and is poised to grow from USD 61.51 Billion in 2024 to USD 95.11 Billion by 2032, growing at a CAGR of 5.60% during the forecast period (2025-2032).

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. '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)'

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.  

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.  

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.

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Global Ammunition Market

Report ID: SQMIG20A2094

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