Global Ammunition Market Report and Forecast 2024-2032

Global Ammunition Market Outlook

The global ammunition market size stood at a value of approximately USD 27.82 billion in 2023. The market is further expected to grow at a CAGR of 3.6% in the forecast period of 2024-2032, reaching a value of USD 38.28 billion by 2032.

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With rising geopolitical tensions and spikes in violence within countries and on national borders, there is a growing demand for the ammunition market. Multiple nations are proactively expanding their arms caches, with extended ammunition stocks to prepare in case of any sudden violent outbreak that requires the use of firearms. Changes in technology for firearms are resulting in a surge in the need for compatible ammunition. Specialised ammunition are also growing in popularity, particularly for management of domestic concerns where non-lethal combat is desired to be used. Increasing investments aimed towards advancing ammunition capacity, owing to the growing replacement of ageing fleets, weapons, and handguns, among others, are likely to be the crucial ammunition market trends.

Rising Defence and Military Expenditure to Bolster the Growth of the Ammunition Market

Based on application, the defence sector accounted for the largest portion in the ammunition industry market share owing to an increase in ammunition procurement by the armed forces or border security forces. This can be attributed to the rising cross-border conflicts, tensions between sovereign nations, increasing terrorism, and rising safety concerns. Over the forecast period, a significant increase in government spending by sovereign nations to enhance their military capabilities is expected to further fuel the demand for ammunition, leading to a greater ammo market size.

The naval ammunition market report indicates that the increasing focus by emerging sovereign nations on augmenting the naval capabilities, is driving the naval ammunition market, which is in turn contributing to the expansion of the global ammunition market. According to the ammunition market report, centrefire ammunition, on the basis of product type, is anticipated to hold a significant share in the market. This type is generally used in rifles, shotguns, and handguns, which form an integral part of various military operations, including hostage rescue missions.

Based on calibre, small calibre ammunition is likely to witness a decent growth in the forecast period. Ammunition of this calibre is used in light weaponry, which provides the combatant with the necessary lethality and quickness needed to defeat the enemies. These weapons include medium and heavy machine guns, which are highly efficient and ensure precision on the battlefield.

North America Accounts for a Significant Share in the Ammunition Market

As per the ammunition market analysis, North America accounted for a significant share in the ammunition industry. The growing US ammunition market size, owing to a substantial increase in military expenditure, rapid technological advancements in the defence sector, and rising safety concerns are expanding the ammunition market share US further. The United States is one of the leading countries in the world in terms of defence capabilities. Over the forecast period, the increasing efforts by the US government to combat terrorism and ensure the safety of its citizens is expected to add to the ammo market value in this region in the forecast period. The increasing ownership of personal weapons across countries such as the United States, are further expanding the commercial ammunition market. Further, increasing disposable income, rising awareness about personal safety, and increasing cases of break-ins, are propelling the demand for ammunition, and expanding the ammo market share.

Ammunition Market Segmentation

Ammunition is defined as the material fired, scattered, dropped, or detonated from any weapon or weapon system. It is the most lethal part of the weapon system and plays a decisive role in armed conflicts. Bombs, missiles, grenades, land mines, bullets, and warhead, among others are some of the examples of ammunition.

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The ammunition market segmentation based on calibre is:

• Small Calibre

• Medium Calibre

• Large Calibre

• Rockets and Missiles

• Others

On the basis of product type, the market can be segmented into:

• Rimfire

• Centrefire

The significant applications of the product include:

• Civil and Commercial

• Defence

• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Safety Concerns and the Favourable Government Policies to Boost the Growth of the Ammunition Industry

The growing security concerns and the increasing efforts by various governments to provide enhanced safety to their citizens are enlarging the ammunition market size. The market is being driven by the rising demand for ammunition in the defence sector owing to factors like the increasing international conflicts and increasing terrorism. Over the forecast period, the favourable government initiatives and the increasing focus of emerging nations to enhance their military capabilities are expected to favour the market growth. Furthermore, the modernisation of weapons such as rifles, handguns, machine guns, and others will require more ammunition than usual, which is likely to strengthen the ammunition market forecast.

Key Industry Players in the Global Ammunition Market

The report gives a detailed analysis of the following key players in the global ammunition market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Ammo, Inc.

• BAE Systems

• General Dynamics Corp

• Northrop Grumman Corporation

• Hanwha Corporation

• Thales Group

• Elbit Systems Ltd.

• Raytheon Technologies Corporation

• Lockheed Martin Corporation

• Nammo AS

• Saab AB

• Vista Outdoor Inc.

• Singapore Technologies Engineering Ltd

• CBC Global Ammunition

• KMW+Nexter Defense Systems N.V.

• Leonardo S.p.A.

• The Boeing Company

• Olin Corporation

• Herstal Group

• Fiocchi Munizioni S.p.A.

• Prvi Partizan A.D.

• Hornady Manufacturing Company

• Ceska zbrojovka a.s.

• Nosler Inc

• ARSENAL JSCo,

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

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