The global ammunition market size reached US$ 23.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.67 Billion by 2028, exhibiting a growth rate (CAGR) of 4.15% during 2023-2028. The growing incidence of political conflicts and cross-border issues, increasing terrorist activities, and rising investment on defense equipment represent some of the key factors driving the market.
Ammunition refers to the projectiles and propelling chargers that are designed for attacking and defending a position from a gun. It comprises various components, such as a cartridge case, primer, propellent, powder, wad, and projectile. It is widely available as armored-piecing round, high-explosive round, high-explosive squash head (HESH) round, armored-piecing discarding sabot (APDS), and armor-piercing discarding sabot fin-stabilized (APDSFS). It is designed in different sizes, colors, and shapes for specific weapon systems and manufactured from several materials, such as chromium, steel, brass, aluminum, polymer plastics, lead, and copper. It is stored in an airtight metal container and assists in preventing conflicts and supporting security transitions. Besides this, it aids in providing force against a particular target and is colored in a specific way for quick identification of different types of ammunition. As a result, ammunition is widely employed in sports, hunting, self-defense, law enforcement, and military purposes across the globe.
Ammunition Market Trends:
At present, the increasing incidence of political conflicts and cross-border issues around the world represents one of the key factors contributing to the growth of the market. Additionally, the growing utilization of ammunition due to the increasing terrorist activities and mass shooting incidence across the globe is offering a positive market outlook. Apart from this, the rising demand for small and medium-scale projectiles in various recreational shooting sports is offering lucrative growth opportunities to industry investors. In addition, there is a rise in the demand for lightweight bullets among soldiers for carrying more ammunition while fighting against an enemy. This, coupled with the increasing investment on defense equipment by governing agencies of several countries to improve firepower assets and maintain safety and security, is impelling the growth of the market. Besides this, the growing adoption of advanced 9 mm caliber due to its versatile performance is positively influencing the market. Moreover, technological advancements in ammunition, such as lightweight bullets, which are manufactured from polymer-based cases, are strengthening the growth of the market. In addition, the increasing adoption of ammunition for self-defense among individuals worldwide is propelling the growth of the market. Furthermore, the rising demand for ammunition on account of the increasing incidence of drug trafficking around the world is supporting the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global ammunition market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product type, caliber, guidance, lethality, and application.
Product Type Insights:
- Aerial Bombs
- Artillery Shells
A detailed breakup and analysis of the ammunition market based on the product type has also been provided in the report. This includes bullets, aerial bombs, grenades, mortars, artillery shells, and others. According to the report, bullets accounted for the largest market share.
A detailed breakup and analysis of the ammunition market based on the caliber has also been provided in the report. This includes small, medium, and large caliber ammunition. According to the report, small caliber accounted for the largest market share.
A detailed breakup and analysis of the ammunition market based on the guidance has also been provided in the report. This includes guided and non-guided. According to the report, non-guided accounted for the largest market share.
A detailed breakup and analysis of the ammunition market based on the lethal has also been provided in the report. This includes less-lethal and lethal. According to the report, lethal accounted for the largest market share.
- Homeland Security
- Civil and Commercial
A detailed breakup and analysis of the ammunition market based on the application has also been provided in the report. This includes defense (military and homeland security) and civil and commercial (sporting,hunting, self-defense, and others). According to the report, defense accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for ammunition. Some of the factors driving the North America ammunition market included the growing number of terrorists activities, increasing demand in recreational sports, rising investment in the military industry for improved equipment, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global ammunition market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Ammo Inc., Arsenal 2000 AD, BAE Systems PLC, CBC Ammo LLC, Denel SOC Ltd, Hanwha Corporation, Herstal Group, Hornady Manufacturing Company, Nammo AS, Nexter group KNDS, Northrop Grumman Corporation, Nosler Inc., Remington Outdoor Company Inc, Rheinmetall AG, Sierra Bullets (Clarus Corporation), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Product Types Covered
||Bullets, Aerial Bombs, Grenades, Mortars, Artillery Shells, Others
||Small, Medium, Large
- Defense: Military, Homeland Security
- Civil and Commercial: Sporting, Hunting, Self-Defense, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ammo Inc., Arsenal 2000 AD, BAE Systems PLC, CBC Ammo LLC, Denel SOC Ltd, Hanwha Corporation, Herstal Group, Hornady Manufacturing Company, Nammo AS, Nexter group KNDS, Northrop Grumman Corporation, Nosler Inc., Remington Outdoor Company Inc, Rheinmetall AG, Sierra Bullets (Clarus Corporation), etc.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ammunition market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global ammunition market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ammunition industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.