What is the global market size of Ammunition Market?

Ammunition Market size was valued at USD 55.16 Billion in 2021 and is poised to grow from USD 55.16 Billion in 2022 to USD 90.84 Billion by 2030, at a CAGR of 5.6% during the forecast period (2023-2030).

Who are the key vendors in the Global Ammunition Market?

The global ammunition market features a competitive landscape characterized by the presence of several prominent players striving to gain a significant market share. These companies engage in various strategies, including product innovation, partnerships, mergers and acquisitions, and geographical expansions to strengthen their position in the market. Geographical expansions also play a crucial role in the competitive landscape, as companies aim to establish a strong presence in emerging markets and cater to the increasing demand for ammunition. These expansions involve the establishment of manufacturing facilities, distribution networks, and strategic alliances with local partners. The competitive landscape of the ammunition market is further shaped by mergers and acquisitions. Major players acquire smaller companies to enhance their product portfolios, gain access to advanced technologies, and expand their customer base. These strategic moves enable companies to consolidate their market position and achieve a competitive edge. '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)'

What is the key driver of Global Ammunition Market?

One of the significant drivers in the ammunition market is the rise in defense spending by various countries. Governments worldwide are allocating substantial budgets for defense modernization and strengthening their armed forces. For example, in 2022, the United States increased its defense budget, which positively impacted the ammunition market. This increased spending enables defense forces to procure advanced ammunition and enhance their capabilities, driving the demand for ammunition products.

What is the key market trend for Global Ammunition Market?

Technological Advancements in Ammunition: A key trend in the ammunition market is the continuous focus on technological advancements to improve ammunition performance, accuracy, and safety. This includes the development of advanced bullet designs, propellant technologies, and smart ammunition systems. For example, there have been advancements in self-guided and smart ammunition that can track targets or adjust trajectory during flight. Such technological innovations enhance the effectiveness and precision of ammunition, catering to the evolving needs of defense forces and law enforcement agencies.

Which region accounted for the largest share in Ammunition Market?

In 2022, North America, with a revenue share of approximately 13.4% held the position as the second-largest market for ammunition. The region's market is driven by a combination of factors, including the growing threat of terrorism and the presence of lenient gun laws, which contribute to increased consumption of bullets. The rise in sports and hunting activities acts as a significant factor for market expansion in North America. The United States, in particular, plays a crucial role in driving the bullets market in the region due to its high demand. The increased defense budget in North America also heavily influences the market, as it supports the procurement of ammunition. The long-term competitive strategy of the U.S. Department of Defense, focusing on the development of new technologies and warfare concepts, is expected to further boost market growth in the region.

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 News

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.

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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).

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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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

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What is the global market size of Ammunition Market?

Who are the key vendors in the Ammunition Market?

What is the key driver of Ammunition Market?

What is the key market trend for Ammunition Market?

Which region accounted for the largest share in Ammunition Market?

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