Ammunition Market Size Worth $29.68 Billion By 2030

The global ammunition market was valued at USD 22.35 billion and is projected to witness a growth of USD 29.68 billion by 2030 at a CAGR of 3.6%. The evolution and modernization of weapons for armed forces are significant driving factors for the ammunition market growth. Other factors that determine ammunition market growth include the militarization of the police forces, a change in warfare nature, an increase in drug trafficking, and a raise in terrorist activities.

Due to the increasing worldwide geopolitical tension, the increasing investments by militaries for better defense equipment are also projected to be a positive contribution to the demand for ammunition by the forecasted year. Additionally, the growing hostilities in the Middle Eastern countries are expected to expand the demand for ammunition in the predicted time frame. The markets within the Asia Pacific are predicted to register a CAGR of 4.6% during the forecast years owing to the upgrading of defense forces in several countries like China, India, Singapore, and Australia.

The COVID-19 pandemic rather had a positive impact on the ammunition market growth as various evolved weapons and equipment are getting adopted by the defense in North America and Europe to further strengthen their defense and military force. In 2022, Germany initiated a security fund of USD 112 million to strengthen the transformation of its military capabilities. This is highly pivotal for the positive market growth of Europe.

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Ammunition Market Report Highlights

• Over 25 companies in the European Union manufacture lead-free shotgun ammunition and 14 companies distribute lead-free rifle ammunition

• The centrefire segment, based on product, registered the largest share in 2021 in terms of revenue

• Also, in 2021, based on end-use, the defense segment was named the largest segment owing to the homeland security forces’ increasing ammunition procurement

• The recent announcement by the UK government on the increase of its naval budget to USD 45.9 billion holds substantial potential for ammunition demand for air and sea defense systems

Ammunition Market Report Segments

Ammunition Caliber Outlook (Revenue, USD Million, 2017 - 2030)
    • Small Caliber
        • 5.56 mm
        • 7.62 mm
            • 7.62 x 51 mm
            • 7.62 x 39 mm
            • Others
        • 9 mm
            • 9 x 18 mm
            • 9 x 19 mm
            • Others
    • Medium Caliber
        • 23 mm
        • 30 mm
        • Others
    • Large Caliber
        • VSHORAD
        • 122 mm
        • Others
    • Rockets, Missiles, and Other
        • Tank Ammunition
        • Artillery Ammunition

Ammunition Product Outlook (Revenue, USD Million, 2017 - 2030)
    • Rimfire
    • Centerfire

Ammunition End-use Outlook (Revenue, USD Million, 2017 - 2030)
    • Civil & Commercial
        • Sports
        • Hunting
        • Self Defense
    • Defense
        • Military
        • Law Enforcement

Ammunition Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Spain
        • Russia
        • Turkey
        • Czech Republic
        • Poland
    • Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia
        • Singapore
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • Saudi Arabia
        • UAE

List of Key Players in Ammunition Market
    • 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