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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Ammunition Market Outlook
The North America ammunition market size reached USD 9.28 billion in 2023. The market is expected to grow at a CAGR of 3.76% between 2024 and 2032, reaching USD 12.86 billion by 2032.
Key Takeaways:
- The World Bank's report shows a $876.94 billion surge in US military spending in 2022, stimulating the ammunition market.
- The firearm and ammunition sector injected around $90.06 billion into the economy in 2023, as per The Firearm Industry Trade Association.
- Military expenditure in 2022, according to the World Bank, rose by 1.2%, driving up ammunition demand.
The defence sector boosts the North America ammunition market growth as it provides a stable source of demand for ammunition from the manufacturers, which helps them in balanced profit creation and production
Defence ensures steady demand sustaining production and returns. These agreements drive invention for specialised, ammunition, advancing innovations in materials and technology. It contributes to economic expansion by initiating jobs and strengthening related industries improving national defence through a dependable domestic ammunition supply.
In October 2023, Northrop Grumman Corporation was presented with a development contract by the U.S. Navy for their newly invented 57mm guided high explosive ammunition. The 57mm guided high explosive ammunition had the exceptional ability to manoeuvre continuously in flight towards its designated target. It was designed to counter fast-moving surface threats, drones, and swarming threats, featuring an onboard seeker to acquire moving targets and point-detonation mode for optimal engagement and defeat of the target.
Civil and commercial ammunition offers advantages in focused marketing, regulatory adherence, customized product design, market steadiness, innovation, and safety. Various consumer groups possess specific requirements, facilitating regulatory adherence, personalized product creation, enhanced market resilience, innovation stimulation, and safety protocols tailored to each sector's demands.
Market Segmentation
North America Ammunition Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Caliber
- Small Caliber
- Medium Caliber
- Large Caliber
- Rockets and Missiles
- Others
Market Breakup by Product Type
- Rimfire
- Centrefire
Market Breakup by Application
- Civil and Commercial
- Defence
Market Breakup by Region
- United States of America
- Canada
The North America ammunition market key players are BAE Systems Plc, Northrop Grumman Corp., Rheinmetall AG, Sierra Bullets, CBC Global Ammunition, Beretta Holding S.A. (RUAG Ammotec AG), Nammo AS, SIG SAUER, Inc., NOSLER Inc., and Saab AB among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Caliber |
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 9.28 billion in 2023.
The market is projected to grow at a CAGR of 3.76% between 2024 and 2032.
The revenue generated from the ammunition market is expected to reach USD 12.86 billion in 2032.
The ammunition market is categorised according to product type, which includes rimfire and centrefire.
The ammunition market key players are BAE Systems Plc, Northrop Grumman Corp., Rheinmetall AG, Sierra Bullets, CBC Global Ammunition, Beretta Holding S.A. (RUAG Ammotec AG), Nammo AS, SIG SAUER, Inc., NOSLER Inc., and Saab AB among others.
Based on the application, the market is divided into civil and commercial and defence.
The market is broken down into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
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