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 can be broadly defined as anything which can be used in combat such as missiles, anti-personnel mines, land mines, bombs, warheads, and naval mines. The word ammunition comes from the word French la munitions i.e. all those materials used for battles and war. Munitions are the collective term for all forms of ammunition. Ammunition involves the general use of weapons, End-User of fire to targets, propellants and explosives, high explosive projectiles, cartridge systems, attack on aircraft and armor, warheads, fuzes, carrier projectiles, small arms ammunition, mortar ammunition, mines, grenades, improved traditional munitions, terminally precision-guided munitions and pyrotechnics. Modern ammunition also includes aircraft-delivered bombs, rockets, and, smart bombs among other explosive-bearing propellants. The lethality and destructive power of ammunition systems might be strenuous to appreciate but armed forces witness the accuracy of ammunition as just another survival tool in front of the enemy. Ammunition designs are determined by their purpose while anti-personnel ammunition is designed to tumble the target to maximize the overall damage. Whereas, armor-piercing ammunition is generally sharp, hard, and narrow in shape and size. Some common Calibers of military machine guns and rifles include 5.56 mm, 7.62 mm, and 5.45 mm. Battle tanks employ KE-penetrators to combat armored fighting vehicles and other tanks generally for soft targets including infantry.
Ammunition Market Report Statistics
Global Ammunition Market Dynamics
Ammunition Market Report Coverage
|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||2020 - 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
|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.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
Ammunition Market Growth Factors
Developing and procuring enhanced ammunition and weaponry has become strongly competitive over the past few years. Arms and ammunition are considered to be a way to safeguard a nation from foreign forces and comprise a large portion of the country’s annual expenditure. Increasing concerns about unfavorable geopolitical threats and disputes from terrorists is a key factor significantly resulting in increased demand for ammunition and weaponry which, in turn, is driving the growth of the global ammunition market. Moreover, huge spending on defense and military R&D, especially by developed economies, and increasing defense budgets of emerging economies to meet the rising demand for efficient, reliable, and advanced ammunition as well as the growing trend of military modernization are some key factors anticipated to fuel the demand for ammunition, globally. In addition, increasing focus on weight, range, the lethality of ammunition, and precision, is expected to further spur the demand for ammunition. The introduction of guided precision ammunition is one of the essential technologies which is projected to steadily impact the global ammunition market over the forecast period. Also, the military sector across the globe is witnessing huge demand for all Calibers of bullets with all calibers, bombs, tanks, etc. Also, civil sales and law enforcement of ammunition are other key element driving the global ammunition market.
Ammunition Market Segmentation
The worldwide ammunition market is categorized based on caliber, product, type, end-user, and geography.
Ammunition Market By Caliber
According to our ammunition industry analysis, the small calibre ammunition segment captured the most market share, as small calibre ammunition is widely used for a variety of purposes, including hunting, shooting sports, and self-defense. Small calibre ammunition is also commonly used by law enforcement and military forces, which drives demand for this segment even further. Furthermore, small calibre ammunition is typically less expensive than larger calibre ammunition, making it more affordable to a wider range of consumers. However, it is difficult to confirm this statement with certainty in the absence of specific market data.
Ammunition Market By Product
Centerfire ammunition products will dominate the ammunition market, according to the ammunition market forecast, because centerfire cartridges are commonly used in handguns, rifles, and shotguns. Centerfire ammunition is widely used for a variety of applications, including sport shooting, hunting, and personal defense, and is known for its accuracy and dependability. However, it is difficult to confirm this statement with certainty in the absence of specific market data.
Ammunition Market By Type
Bullets dominate the entire ammunition market because there are many different types of bullets that serve different purposes and are used in various firearms. Hollow point (HP), full metal jacket (FMJ), soft point (SP), and ballistic tip (BT) bullets are some examples of bullet types. Law enforcement and military needs, hunting and shooting trends and legal regulations can all influence the popularity and demand for each type of bullet. Furthermore, different bullet calibers may be more popular in specific regions or for specific applications.
Ammunition Market By End-User
Defense end-use organizations, such as the military and law enforcement agencies, are major consumers of ammunition for a variety of applications, including training, operations, and missions, and thus hold the largest market share in the ammunition industry. Factors such as geopolitical tensions, military conflicts, and rising global terrorism threats drive ammunition demand in the defense sector. As the popularity of hunting and shooting sports grows, particularly in emerging economies, the civil and commercial end-use segment is expected to grow at the fastest rate in the ammunition industry. Furthermore, due to growing safety concerns, demand for ammunition for personal defense is increasing in some regions.
Ammunition Market Regional Outlook
The Middle East & Africa
Ammunition Market Regional Analysis
The ammunition market in North America includes the manufacture, sale, and distribution of firearm ammunition in countries such as the United States, Canada, and Mexico. Increased supply of ammunition from law enforcement and military agencies, as well as the rising influence of hunting and shooting sports, are driving the market. Demand for ammunition is anticipated to be the highest in regions like Asia-Pacific and Europe due to an increase in terrorist activities. Moreover, countries like India, China, Pakistan, Iran, Iraq, Russia, etc. are expected to be the major contributors to the global ammunition market over the forecast period.
Ammunition Market Players
Some of the leading ammunition companies include 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.
The market size of ammunition was USD 26.0 Billion in 2022.
The CAGR of ammunition market is 4.3% during the analysis period of 2023 to 2032.
The key players operating in the global market are 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.
North held the dominating position in ammunition market during the analysis period of 2023 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for ammunition market during the analysis period of 2023 to 2032.
The current trends and dynamics in the ammunition industry include growing defense and security needs, increasing trend of hunting and shooting sports, and rising use of robotics in ammunition production.
The small caliber held the maximum share of the ammunition market.