July 16, 2024


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Ammunition Market Share, Demand, Growth & Forecast 2024-2032

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Ammunition Market

IMARC Group’s report titled “Ammunition Market Report by Product Type (Bullets, Aerial Bombs, Grenades, Mortars, Artillery Shells, and Others), Caliber (Small, Medium, Large), Guidance (Guided, Non-Guided), Lethality (Less-Lethal, Lethal), Application (Defense, Civil and Commercial), and Region 2024-2032“. offers a comprehensive analysis of the industry, which comprises insights on the global ammunition market share. The global market size reached US$ 24.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/ammunition-market/requestsample

Factors Affecting the Growth of the Ammunition Industry:

  • Advancements in Ammunition Technology:

Technological advancements in ammunition manufacturing are impelling the growth of the market. Innovations like guided munitions, programmable ammunition, and the integration of artificial intelligence (AI) and sensor technology are propelling the market growth. These advancements enhance the effectiveness of military operations, reduce collateral damage, and provide greater tactical flexibility. The push for non-lethal ammunition and environment-friendly options is also influencing market dynamics. This technological improvement is not only a response to modern warfare requirements but also a result of higher research and development (R&D) investments by both government and private sectors.

  • Emergence of Asymmetric and Hybrid Warfare:

The changing nature of warfare, with a shift towards asymmetric and hybrid tactics, is strengthening the market growth. Asymmetric warfare, which includes insurgency, guerrilla tactics, and terrorism, requires specific types of ammunition for counter-insurgency operations. Hybrid warfare, blending conventional and unconventional methods, also demands a versatile ammunition arsenal. These warfare styles necessitate investments in specialized ammunition types, such as small-caliber rounds for urban combat scenarios and non-standard ammunition for unconventional forces. The need for ammunition capable of penetrating improvised protective materials and urban structures is also rising. This shift in combat tactics is catalyzing the demand for more varied and technologically advanced ammunition, prompting manufacturers to innovate and diversify their product lines.

  • Law Enforcement and Homeland Security Requirements:

The growing focus on internal security threats, such as terrorism, organized crime, and civil unrest, is driving the demand for ammunition in law enforcement. Governing agencies in various countries are investing in strengthening their police and internal security forces with better equipment, including the latest firearms and compatible ammunition. There is an emphasis on specialized ammunition types, such as less-lethal rounds and rubber bullets, for crowd control and non-lethal engagement scenarios. Additionally, the shift towards militarization of police forces in some regions is leading to the adoption of more advanced weaponry, necessitating a corresponding increase in specialized ammunition types. This demand is characterized by specific requirements for reliability, accuracy, and effectiveness tailored to the urban and varied operational environments in which law enforcement agencies operate.

Leading Companies Operating in the Global Ammunition Industry:

  • 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)

Ammunition Market Report Segmentation:

By Product:

  • Bullets
  • Aerial Bombs
  • Grenades
  • Mortars
  • Artillery Shells
  • Others

Bullets exhibit a clear dominance due to their widespread use and versatility.

By Caliber:

  • Small
  • Medium
  • Large

Small represents the largest segment owing to the demand for compact ammunition across various applications.

By Guidance:

  • Guided
  • Non-Guided

Non-guided holds the biggest market share, as they are commonly used for standard military and civilian purposes.

By Lethality:

  • Less-Lethal
  • Lethal

Lethal accounts for the majority of the market share accredited to the primary function of ammunition for defense and security.

By Application:

  • Defense
    • Military
    • Homeland Security
  • Civil and Commercial
    • Sporting
    • Hunting
    • Self-Defense
    • Others

Defense represents the largest segment, driven by the rising need for ammunition in military and law enforcement sectors.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America dominates the market attributed to its growing defense expenditure and increasing civilian gun ownership.

Global Ammunition Market Trends:

The growing emergence of 3D printing technology in ammunition production is offering a favorable market outlook. This innovative approach allows for the rapid prototyping and manufacturing of various components of ammunition, such as bullet casings and projectiles. The advantage of 3D printing lies in its ability to produce complex designs with high precision and at lower costs, especially for small-scale production runs. This technology is particularly appealing for the development of specialized or custom ammunition types, as it offers greater flexibility in design and material choice.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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