South Korea Ammunition Market

South Korea Ammunition Market Overview:

The South Korea ammunition market size reached USD 490.2 Million in 2024. The market is projected to reach USD 602.3 Million by 2033, exhibiting a growth rate (CAGR) of 2.08% during 2025-2033. The market is expanding due to rising investments in advanced defense technologies and increasing demand for precision-guided systems. In addition, strong focus on naval upgrades and indigenous missile development continues to support South Korea ammunition market share across aerial, naval, and electronic warfare applications.

South Korea Ammunition Market Trends:

Advancing Strike Capabilities Domestically

South Korea is increasingly focused on developing high-precision, domestically produced ammunition systems to reduce dependency on foreign suppliers and strengthen national defense autonomy. With rising geopolitical uncertainties in the region, the demand for advanced strike capabilities is pushing the country to accelerate indigenous missile research and development. South Korea’s defense strategy emphasizes not only strengthening deterrence but also boosting defense exports through technology transfer and production scalability. In June 2025, South Korea successfully conducted the first flight test of its air-launched cruise missile (KALCM) using the FA-50 aircraft. This development strengthened domestic ammunition capabilities, enhanced strike precision, and supported the country’s aim to boost defense exports, positively impacting the ammunition market outlook. This achievement marked a major milestone in enhancing the country’s ability to deliver long-range precision strikes without relying on foreign systems. The integration of KALCM with both the FA-50 and the upcoming KF-21 fighter is expected to elevate South Korea’s strike flexibility and expand its export market. Additionally, domestic firms are investing in scalable production lines and testing infrastructure to support future missile demand. This trend reflects the country's broader ambition to transform into a global hub for next-generation guided munitions and precision weapon systems.

Modernizing Naval Defense Mechanisms

South Korea is enhancing its ammunition capabilities with a strong emphasis on naval defense and electronic warfare systems. The integration of advanced countermeasure ammunition, such as decoys and jamming systems, is becoming central to the country's strategy for protecting its naval assets and maintaining strategic control in contested waters. This shift is further supported by rising investments in maritime R&D and a commitment to improving operational readiness in littoral zones. In May 2025, South Korea completed an upgrade of its Multi Ammunition Soft Kill System (MASS) to counter advanced anti-ship missile threats. The enhancement improved decoy performance and software integration, strengthening naval defense capabilities and positively impacting the country's ammunition and electronic warfare market growth. This upgrade not only elevated ship survivability but also demonstrated the growing convergence between ammunition systems and electronic warfare technologies. The focus on smart ammunition solutions reflects a move toward integrated defense platforms capable of detecting, misleading, and neutralizing incoming threats with speed and precision. These advancements are encouraging local defense manufacturers to expand their portfolio in naval munitions and electronic countermeasures. As a result, the South Korea ammunition market growth in is positively contributing this industry in both conventional and technologically enhanced segments.

South Korea Ammunition Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional level for 2025-2033. Our report has categorized the market based on product, caliber, guidance, lethality, and application.

Product Insights:

• Bullets
• Aerial Bombs
• Grenades
• Mortars
• Artillery Shells
• Others

The report has provided a detailed breakup and analysis of the market based on the product. This includes bullets, aerial bombs, grenades, mortars, artillery shells, and others.

Caliber Insights:

• Small
• Medium
• Large

The report has provided a detailed breakup and analysis of the market based on the caliber. This includes small, medium, and large.

Guidance Insights:

• Guided
• Non-Guided

The report has provided a detailed breakup and analysis of the market based on the guidance. This includes guided and non-guided.

Lethality Insights:

• Less-Lethal
• Lethal

A detailed breakup and analysis of the market based on the lethality have also been provided in the report. This includes less-lethal and lethal.

Application Insights:

• Defense
  • Military
  • Homeland Security
• Civil and Commercial
  • Sporting
  • Hunting
  • Self-Defense
  • Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes defense (military and homeland security) and civil and commercial (sporting, hunting, self-defense, and others).

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key 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.

South Korea Ammunition Market News:

• May 2025: South Korea completed an upgrade of its Multi Ammunition Soft Kill System (MASS) to counter advanced anti-ship missile threats. The enhancement improved decoy performance and software integration, strengthening naval defense capabilities and positively impacting the country's ammunition and electronic warfare market growth.
• April 2025: Hanwha Aerospace and Poland’s WB Group signed a joint venture agreement to produce CGR-080 guided missiles for Chunmoo systems. This collaboration aimed to transfer missile production technology, enhance export potential in Europe, and significantly strengthen South Korea's ammunition industry and global defense presence.

South Korea Ammunition Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea ammunition market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea ammunition market on the basis of product?
• What is the breakup of the South Korea ammunition market on the basis of caliber?
• What is the breakup of the South Korea ammunition market on the basis of guidance?
• What is the breakup of the South Korea ammunition market on the basis of lethality?
• What is the breakup of the South Korea ammunition market on the basis of application?
• What is the breakup of the South Korea ammunition market on the basis of region?
• What are the various stages in the value chain of the South Korea ammunition market? 
• What are the key driving factors and challenges in the South Korea ammunition market?
• What is the structure of the South Korea ammunition market and who are the key players?
• What is the degree of competition in the South Korea ammunition market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea ammunition market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea ammunition market.
• Porter's Five Forces analysis assists 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 South Korea ammunition industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive product and provides an insight into the current positions of key players in the market.