According to the report by Expert Market Research (EMR), the global ammunition market size is projected to grow at a CAGR of 3.6% between 2024 and 2032. Aided by the increasing demand for ammunition in defense, law enforcement, and civilian applications, the market is expected to grow significantly by 2032.
Ammunition, an integral component of firearms, comprises bullets, shells, and other materials fired from weapons. The market’s expansion is closely linked to global security needs, advancements in weaponry technology, and the rising interest in shooting sports and personal defense.
The global ammunition market growth is primarily driven by increasing defense expenditure worldwide, as nations enhance their armed forces’ capabilities in response to geopolitical tensions. The modernisation of military weaponry systems and the need for training and operational ammunition are key factors contributing to this growth.
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In the civilian sector, the rising interest in shooting sports, hunting, and personal safety is propelling the demand for ammunition. Additionally, advancements in ammunition technology, such as the development of non-toxic and environmentally friendly ammunition, are influencing the ammunition market outlook.
Regionally, North America leads the ammunition market, driven by high defense spending and a strong culture of firearm ownership. Europe and the Asia-Pacific regions also contribute significantly to the market, with increasing defense budgets and growing civilian interest in shooting sports.
The future of the ammunition market appears promising, with ongoing technological advancements and the expanding applications of ammunition in defense, law enforcement, and civilian sectors. The development of smart ammunition and environmentally friendly variants is likely to open new avenues for ammunition market growth.
The market is highly competitive, with a mix of established defense contractors and emerging companies. Key players focus on technological advancements, product quality, and meeting the stringent standards of defense and law enforcement agencies. Strategic alliances, mergers, and acquisitions are common strategies to enhance market presence.
The global market for ammunition is set for steady growth, driven by the increasing demand in the defense sector, rising interest in shooting sports, and advancements in ammunition technology. With its diverse applications and strategic importance, ammunition continues to be a vital component in global security and civilian firearm usage. As the market evolves, it will play a significant role in shaping global defense and security dynamics.
Ammunition Market Segmentation
The market can be divided based on calibre, product type, application, and region.
Market Breakup by Calibre
- Small Calibre
- Medium Calibre
- Large Calibre
- Rockets and Missiles
- Others
Market Breakup by Product Type
- Rimfire
- Centrefire
- Others
Market Breakup by Application
- Civil and Commercial
- Defence
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Ammunition Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global ammunition market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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
- Česká zbrojovka a.s.
- Nosler Inc
- ARSENAL JSCo,
- Others
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