Ammunition Market Size Growing at 4.3% CAGR, Set to Reach USD 39.1 Billion By 2032

Acumen Research and Consulting recently published report titled “Ammunition Market Forecast, 2023 – 2032”

TOKYO, March 09, 2023 (GLOBE NEWSWIRE) — The Global Ammunition Market Size collected USD 26.0 Billion in 2022 and is set to achieve a market size of USD 39.1 Billion in 2032 growing at a CAGR of 4.3% from 2023 to 2032.

Ammunition Market Research Report Highlights and Statistics:

  • The Global Ammunition Market Size in 2022 stood at USD 26.0 Billion and is set to reach USD 39.1 Billion by 2032, growing at a CAGR of 4.3%
  • The global ammunition market has been growing steadily over the past few years, driven by factors such as rising geopolitical tensions, increased military spending, and a growing demand for personal and home defense.
  • The military segment is the largest end-user of ammunition, accounting for a significant portion of the market share.
  • The North American region accounted for the largest ammunition market share with the Asia Pacific region accounting for the fastest growing share of the market.
  • Key players in the ammunition market include Orbital ATK, General Dynamics, BAE Systems, Nammo AS, and Rheinmetall AG, among others.

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Ammunition Market Report Coverage:

Market Ammunition Market
Ammunition Market Size 2022 USD 26.0 Billion
Ammunition Market Forecast 2032 USD 39.1 Billion
Ammunition Market CAGR During 2023 – 2032 4.3%  
Ammunition Market Analysis Period 2023 – 2032
Ammunition Market Base Year 2022  
Ammunition Market Forecast Data 2023 – 2032
Segments Covered By Caliber, By Product, By Type, By End-User, And By Geography
Ammunition Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled BAE Systems, Inc., General Dynamics Corporation, Fiocchi Munizioni S.p.A., FN Herstal, Hanwha Corporation, Nexter KNDS Group, Northrop Grumman Corporation, Olin Corporation, Remington Arms Company LLC, Rheinmetall Defense, and ST Engineering.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Ammunition Market Overview:

The ammunition market is a dynamic and rapidly growing sector that caters to a diverse range of applications, from military and law enforcement to personal and home defense. Ammunition refers to the various types of projectiles, shells, and cartridges that are used in firearms, artillery, and other weapons.

In recent years, the global ammunition market has seen wide growth due to several factors such as rising geopolitical tensions, increasing military spending, and a growing demand for personal and home defense. The market is expected to continue its upward trajectory in the coming years. One of the unique applications of ammunition is its use in hunting and sport shooting. This has led to a growing demand for specialized ammunition designed for specific applications, such as long-range shooting, precision target shooting, and hunting different types of game.

Ammunition is also used in law enforcement, where its primary objective is to protect the public and prevent crime. Law enforcement agencies use a variety of ammunition types, including hollow-point bullets that expand on impact, minimizing the risk of over-penetration and collateral damage.

The military is the largest consumer of ammunition, where it is used in various applications such as training, combat, and defense. Ammunition is a critical component of modern military operations, and its development and advancement have led to improved performance and increased lethality in combat situations.

The ammunition market is also impacted by factors such as technological advancements, government regulations, and consumer preferences. Manufacturers are continuously innovating and developing new types of ammunition to meet changing demands and improve overall performance.

Trends in the Ammunition Market:

  • Customized Ammunition: One trend in the market for ammunitions is the rise in customized ammunition that is tailored to specific requirements of the end-user. This customization may involve caliber, bullet design, or powder charge.
  • Use of Composite Materials: There is a growing trend of using composite materials in ammunition manufacturing. Composite materials can improve accuracy, reduce weight, and offer better ballistic performance.
  • Smart Ammunition: Smart ammunition, equipped with sensors and other advanced technologies, is gaining popularity in the market. This type of ammunition can adjust its trajectory in-flight, increasing accuracy and effectiveness.
  • Non-Toxic Ammunition: As environmental concerns grow, there is a trend toward non-toxic ammunition that does not contain lead or other toxic materials. This type of ammunition is eco-friendly and safer for users.
  • Increased Use of Polymer Casings: Polymer casings are becoming popular in the ammunition market. These casings offer several benefits, including weight reduction, ease of manufacturing, and improved safety.
  • Advanced Coatings: Advanced coatings, such as copper or nickel, are being used in ammunition manufacturing to improve accuracy and reduce barrel fouling.

Ammunition Market Dynamics:

  • Geopolitical Tensions: Rising geopolitical tensions around the world are driving the growth of the ammunition market. Countries are increasing their military spending, and there is a growing need for advanced weaponry and ammunition.
  • Increased Military Spending: As countries increase their military spending, there is a corresponding increase in demand for ammunition.
  • Growing Demand for Personal Defense: The growing awareness of personal safety and the increasing incidence of violent crime are driving the demand for ammunition for personal defense.
  • Rising Interest in Gun Ownership: The growing interest in gun ownership among civilians is driving the demand for ammunition.
  • Increased Focus on Self-Defense: As people become more conscious of their personal safety, there is a growing demand for ammunition for self-defense.
  • Hunting and Sport Shooting: The popularity of hunting and sport shooting is driving the demand for specialized ammunition designed for these activities.

Growth Hampering Factors in the Market for Ammunition:

  • Government Regulations: Government regulations on the production, sale, and use of ammunition can have a significant impact on the ammunition market. Changes in regulations or the introduction of new restrictions can hamper the market’s growth.
  • Competition from Substitute Products: Competition from substitute products, such as stun guns and pepper spray, can hamper the growth of the ammunition market.
  • Increase in Non-Lethal Technologies: The development of non-lethal technologies, such as advanced taser devices and other less-lethal weapons, can reduce the demand for traditional ammunition.
  • High Production Costs: High production costs for specialized ammunition can lead to higher prices, which can decrease demand.
  • Negative Perception of Guns and Ammunition: Negative perceptions of guns and ammunition can lead to a decrease in demand for ammunition.

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Market Segmentation:

By Caliber

  • Rockets, Missiles, and Other
    1. Artillery Ammunition
    2. Tank Ammunition
  • Large Caliber
    1. 122 mm
    2. VSHORAD
    3. Other
  • Medium Caliber
    1. 30 mm
    2. 23 mm
    3. Other
  • Small Caliber
    1. 9 mm
    2. 9 x 19 mm
    3. 9 x 18 mm
    4. Other
    5. 7.62 mm
    6. 7.62 x 39 mm
    7. 7.62 x 51 mm
    8. Other
    9. 5.56 mm

By Product

  • Centerfire
  • Rimfire

By Type

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

End User

  • Defense
    1. Law Enforcement
    2. Military
  • Civil and Commercial
    1. Hunting
    2. Sports
    3. Self Defense

Ammunition Market Overview by Region:

North America’s Ammunition market share is the highest globally, driven primarily by the high level of gun ownership and the strong demand for ammunition for personal defense, hunting, and sport shooting. The United States is the largest market in the region, accounting for a significant portion of global ammunition sales. Canada is another important market, driven by demand for ammunition for hunting and sport shooting.

The Asia-Pacific region’s Ammunition Market share is also huge and is growing at the fastest rate, with strong demand from countries such as China, India, and Japan. The region is also home to several emerging economies, including Indonesia and Vietnam, where rising incomes are driving demand for personal defense ammunition. Additionally, the growing popularity of hunting and sport shooting in countries such as Australia and New Zealand is driving demand for specialized ammunition.

Europe is another key market for Ammunition, with a strong demand for ammunition for law enforcement, military, and sport shooting. The region is also home to some of the world’s leading ammunition manufacturers, including companies such as Fiocchi, Lapua, and Sellier & Bellot. The United Kingdom, Germany, and France are among the largest markets in the region, with significant demand for specialized ammunition for military and law enforcement applications.

The South American and MEA regions have a smaller Ammunition market share, however it is expected to grow at a steady pace. The MEA region is home to several countries with high levels of political instability, which is driving demand for personal defense ammunition.

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Ammunition Market Key Players:

Key players in the market are Olin Corporation, Winchester Ammunition, Remington Arms Company, Federal Premium Ammunition, Hornady Manufacturing, Sig Sauer, General Dynamics Corporation, Sturm, Ruger & Co., Inc., Nosler, Inc., Barnes Bullets, LLC, Lapua, Nammo AS, CBC Global Ammunition, Fiocchi Munizioni S.p.A., RUAG Group, Magtech Ammunition, GECO Ammunition, Maxam Outdoors, ELEY, and Norma Precision AB.

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