Ammunition Industry Overview
The global ammunition market size was valued at USD 22.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.2% from 2022 to 2030.
A rise in the number of terrorist activities and hostilities across the globe is likely to increase the procurement of defense equipment by prominent militaries across the globe, which will further drive the market for ammunition over the forecast period. Rising trends for sports and shooting that utilize rifles and pistols are expected to increase the penetration of small-caliber ammunition in the projected time. Moreover, technological advancements in the market have introduced lightweight bullets made from polymer-based cases and thus are projected to support the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Ammunition market
High investments by the U.S. government for enhancements in military and armed forces are expected to support the market growth in the country. The procurement of small caliber ammunition by civilians and the homeland security department is expected to bolster the overall market growth. Moreover, enhancement of sales channels such as online sales in the country is likely to supplement the growth. A rise in the adoption of advanced materials for the production of lightweight ammunition is expected to lead to fuel-efficient transportation, which, in turn, reduces the overall transportation cost. Furthermore, the above-mentioned trend is anticipated to enable transportation of more rounds within the same weight limits, thereby positively impacting the market growth.
Commercially, these ammunition products are not widely available on account of the restrictions on weapons in major economies. However, defense organizations in major territories have agreed on the procurement of these products to enhance security capabilities. Moreover, enhancements in the military by major economies like China, India, France, and Russia are expected to support the market growth in the estimated time. The market globally is characterized by collaborations and acquisitions between major players and the government for the long term. Several governments across the globe, especially India, are aiming to enhance their defense forces through procurement and development of indigenous production facilities from foreign players.
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Small & Medium Caliber Ammunition Market - The global small & medium caliber ammunition market size was valued at USD 9.18 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027. Increasing geopolitical tensions and increasing military expenditure are expected to drive market growth over the forecast period.
Less Lethal Ammunition Market - The global less lethal ammunition market size was estimated at USD 867.4 million in 2019 and is expected to register a compounded annual growth rate (CAGR) of 4.3 % from 2020 to 2027.
Key Companies profiled:
Some prominent players in the global Ammunition market include
- Northrop Grumman Corporation
- FN Herstal
- Olin Corporation
- General Dynamics Corporation
- BAE Systems, Inc.
- Rheinmetall Defense
- Nexter KNDS Group
- Hanwha Corporation
- ST Engineering
- Remington Arms Company LLC
- Vista Outdoor Operations LLC
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