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Ammunition Market Size (2024 - 2029)

The ammunition market is projected to experience growth over the forecast period, driven by increased global defense spending and the development of advanced weaponry and ammunition. The market's expansion is supported by technological advancements that facilitate the creation of sophisticated and effective ammunition. Demand is particularly strong in Europe and Asia-Pacific, where countries are modernizing their military capabilities by replacing outdated equipment and expanding their arsenals. Despite the challenges posed by the COVID-19 pandemic, the market's growth trajectory remains positive, reflecting a robust increase in market size.

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Market Size of Ammunition Industry

Ammunition Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 9.48 Billion
Market Size (2029) USD 11.59 Billion
CAGR (2024 - 2029) 4.09 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Ammunition Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ammunition Market Analysis

The Ammunition Market size is estimated at USD 9.48 billion in 2024, and is expected to reach USD 11.59 billion by 2029, growing at a CAGR of 4.09% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the ammunition market revenues is deemed to be less. The growth in global defense spending and initiation of infantry support programs to develop sophisticated and deadlier weaponry and ammunition are anticipated to bolster the adoption of newer generation ammunition with better penetrating power, thereby driving the growth of the ammunition market. Also, several new weapon and ammunition development programs are underway to develop lighter but deadlier ammunition with an enhanced range. The growth in technological advancements is fostering such developments.

The demand for advanced weapons and related ammunition is primarily from countries in Europe and Asia-Pacific, as they are either replacing their aging equipment or expanding their inventory to strengthen their armed forces.

Ammunition Industry Segmentation

The scope of the ammunition market includes the procurement of various types of ammunition from the military, homeland security, local law enforcement agencies, border security forces, and special forces. The scope of the study excludes ammunition procurement for commercial applications. The market is segmented based on type into small caliber ammunition, medium caliber ammunition, and large caliber ammunition. The small-caliber ammunition includes a range of ammunition below 20 mm, including .50 caliber (12.7 mm), 5.56 mm, 7.62 mm, 9 mm, 10- and 12-gauge, .22 caliber, .30 caliber, .38 caliber, .45 caliber, and .300 Winchester Magnum (WinMag). The medium-caliber ammunition ranges between 20 mm and 40 mm. The large-caliber ammunition includes ammunition ranging more than 40 mm. The large-caliber is further segmented into mortar ammunition (60 mm to 120 mm) and artillery ammunition (more than 120 mm). The market is also segmented by application in lethal and non-lethal. The report also covers the market sizes and forecasts for the market in major countries across different regions. The market sizing and forecasts have been provided in value (USD billion).

Type
Small Caliber Ammunition
Medium Caliber Ammunition
Large Caliber Ammunition
Mortar Ammunition
Artillery Ammunition
Application
Non-lethal
Lethal
Geography
North America
United States
Type
Canada
Type
Europe
United Kingdom
Type
France
Type
Germany
Type
Russia
Type
Rest of Europe
Type
Asia-Pacific
China
Type
India
Type
Japan
Type
South Korea
Type
Rest of Asia-Pacific
Type
Latin America
Brazil
Type
Rest of Latin America
Type
Middle-East and Africa
Saudi Arabia
Type
United Arab Emirates
Type
Turkey
Type
Rest of Middle-East and Africa
Type
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Ammunition Market Size Summary

The ammunition market is poised for steady growth over the forecast period, driven by increased global defense spending and advancements in weaponry technology. The market is experiencing a shift towards newer generation ammunition with enhanced penetrating power, as countries seek to replace aging equipment and expand their military inventories. This demand is particularly strong in Europe and Asia-Pacific, where militaries are engaged in peacekeeping and counter-insurgency operations, necessitating a continuous supply of ammunition. The small caliber ammunition segment is currently the largest, supported by the need for training and operational readiness. Additionally, countries like the United States and India are investing in higher caliber ammunition to improve effectiveness against tougher armors, further fueling market expansion.

North America holds a significant share of the ammunition market, with the United States leading due to its substantial military expenditure and involvement in NATO missions. The U.S. is modernizing its infantry weapons and artillery systems to keep pace with geopolitical developments, which is expected to drive regional market growth. The market is characterized by fragmentation, with major international players like BAE Systems, Rheinmetall, and General Dynamics dominating, while local defense industries also play a crucial role. Companies are focusing on research and development to create advanced munitions and enhance local manufacturing capabilities, aiming to meet future demand and increase market share. This competitive landscape is further intensified by countries investing in indigenous production to cater to both domestic and international markets.

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Ammunition Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2031)

    1. 2.1 Type

      1. 2.1.1 Small Caliber Ammunition

      2. 2.1.2 Medium Caliber Ammunition

      3. 2.1.3 Large Caliber Ammunition

        1. 2.1.3.1 Mortar Ammunition

        2. 2.1.3.2 Artillery Ammunition

    2. 2.2 Application

      1. 2.2.1 Non-lethal

      2. 2.2.2 Lethal

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

          1. 2.3.1.1.1 Type

        2. 2.3.1.2 Canada

          1. 2.3.1.2.1 Type

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

          1. 2.3.2.1.1 Type

        2. 2.3.2.2 France

          1. 2.3.2.2.1 Type

        3. 2.3.2.3 Germany

          1. 2.3.2.3.1 Type

        4. 2.3.2.4 Russia

          1. 2.3.2.4.1 Type

        5. 2.3.2.5 Rest of Europe

          1. 2.3.2.5.1 Type

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

          1. 2.3.3.1.1 Type

        2. 2.3.3.2 India

          1. 2.3.3.2.1 Type

        3. 2.3.3.3 Japan

          1. 2.3.3.3.1 Type

        4. 2.3.3.4 South Korea

          1. 2.3.3.4.1 Type

        5. 2.3.3.5 Rest of Asia-Pacific

          1. 2.3.3.5.1 Type

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

          1. 2.3.4.1.1 Type

        2. 2.3.4.2 Rest of Latin America

          1. 2.3.4.2.1 Type

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

          1. 2.3.5.1.1 Type

        2. 2.3.5.2 United Arab Emirates

          1. 2.3.5.2.1 Type

        3. 2.3.5.3 Turkey

          1. 2.3.5.3.1 Type

        4. 2.3.5.4 Rest of Middle-East and Africa

          1. 2.3.5.4.1 Type

Ammunition Market Size FAQs

The Ammunition Market size is expected to reach USD 9.48 billion in 2024 and grow at a CAGR of 4.09% to reach USD 11.59 billion by 2029.

In 2024, the Ammunition Market size is expected to reach USD 9.48 billion.

Ammunition Market Report Snapshots

Ammunition Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)