Industry Overview of Ammunition Market
Ammunition represents the projectiles and propelling chargers that are specifically designed for attacking and defending a position from a gun. It usually comprises several components, such as a primer, cartridge case, powder, wad, projectile, etc. Ammunition is commonly available as high-explosive round, armored-piecing round, high-explosive squash head (HESH) round, armored-piecing discarding sabot (APDS), armor-piercing discarding sabot fin-stabilized (APDSFS), etc. It is manufactured by using various materials, including aluminum, polymer plastics, lead, chromium, steel, brass, copper, etc. Ammunition is stored in an airtight metal container and aids in preventing conflicts and supporting security transitions. In line with this, it assists in providing force against a particular target. Consequently, ammunition is extensively utilized in hunting, self-defense, law enforcement, sports, and military purposes across the globe.
How Big Is the Ammunition Market?
The global ammunition market size reached US$ 23.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 30.67 Billion by 2028 exhibiting a CAGR of 4.15% during 2023-2028.
Global Ammunition Market Trends and Drivers:
The growing incidences of political conflicts and cross-border issues are primarily driving the ammunition market. Additionally, the increasing occurrence of terrorist activities and mass shootings is further catalyzing the market growth. Besides this, the escalating demand for small and medium-scale projectiles in recreational shooting sports is acting as another significant growth-inducing factor. Moreover, the widespread adoption of lightweight bullets by soldiers for carrying more ammunition while fighting against an enemy is positively influencing the global market. Apart from this, the rising investments in defense equipment by government bodies across countries to improve firepower assets and maintain safety and security are also stimulating the market growth. Furthermore, the development of lightweight bullets that are produced from polymer-based cases is anticipated to fuel the ammunition market over the forecasted period.
Key Market Segmentation:
The report provides detailed segmentation of the global ammunition market based on based on product type, caliber, guidance, lethality, application and region.
Product Type Insights:
- Aerial Bombs
- Artillery Shells
- Homeland Security
- Civil and Commercial
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Ammo Inc., Arsenal 2000 AD, BAE Systems PLC, CBC Ammo LLC, Denel SOC Ltd, Hanwha Corporation, Herstal Group, Hornady Manufacturing Company, Nammo AS, Nexter group KNDS, Northrop Grumman Corporation, Nosler Inc., Remington Outdoor Company Inc, Rheinmetall AG, Sierra Bullets (Clarus Corporation), etc.
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