PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616793
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616793
Ammunition Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Ammunition Market was valued at USD 30.6 billion in 2023 and is projected to grow at a CAGR of 5.6% from 2024 to 2032. Heightened terrorism activities and cross-border conflicts have intensified the demand for ammunition. Governments and military forces are increasingly sourcing ammunition for counter-terrorism operations and bolstering border security measures. For instance, the Global Terrorism Index (GTI) reported a 17% surge in attacks in 2021 compared to the prior year. Globally rising military budgets and defense expenditures are propelling the demand for ammunition.
Countries, responding to escalating geopolitical tensions and pursuing comprehensive military modernization, are ramping up defense spending. The overall ammunition industry is classified based on product type, application, and region. The Ammunition Market is segmented by Product Type into Medium Caliber, Artillery, Small Caliber, Large Caliber, and Mortar. In 2023, the Small Caliber segment led the market with a revenue of USD 13 billion and is projected to grow at a CAGR of 5.3% from 2024 to 2032. Demand for small caliber ammunition is driven by applications in shotgun pistols, assault rifles, rifles, and revolvers.
Furthermore, as security forces respond to rising armed conflicts, their increasing need for small caliber ammunition is poised to further propel its market growth. Based on Application, the market is divided into Defense and Civil segments. In 2023, the Defense segment commanded a 56% market share and is forecasted to grow at a CAGR of 5.2% from 2024 to 2032. Geopolitical tensions and military conflicts are fueling a robust demand for ammunition, reinforcing defense operations and national security. Additionally, global military modernization efforts are driving consistent procurement of advanced ammunition, ensuring upgraded arsenals and maintained readiness.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $30.6 Billion |
| Forecast Value | $48.8 Billion |
| CAGR | 5.6% |
In 2023, North America led the Ammunition Market with a revenue of USD 12.7 billion and is projected to grow at a CAGR of 5.1% from 2024 to 2032. The region's heightened consumption of ammunition is attributed to the rising threat of terrorism and more permissive gun laws. Both defense and civilian sectors are keen on bolstering security and preparedness. Furthermore, the uptick in sports and hunting activities is set to play a pivotal role in the market's expansion.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2018 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.1.7 Retailers
- 3.2 Impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Rising terrorism activities and cross border conflicts
- 3.2.1.2 Growing popularity of sport-shooting and hunting
- 3.2.1.3 Military modernization programs
- 3.2.1.4 Rising military budgets and defense expenditures
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Stringent governments rules
- 3.2.1 Growth drivers
- 3.3 Technology & innovation landscape
- 3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
- 3.5 Growth potential analysis
- 3.6 Regulatory landscape
- 3.7 Pricing analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 - 2032, (USD Billion) (Million Units)
- 5.1 Key trends
- 5.2 Small caliber
- 5.3 Medium caliber
- 5.4 Large caliber
- 5.5 Artillery
- 5.6 Mortar
Chapter 6 Market Estimates & Forecast, By Application, 2021 - 2032, (USD Billion) (Thousand Units)
- 6.1 Key trends
- 6.2 Defense
- 6.3 Civil
Chapter 7 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Billion) (Million Units)
- 7.1 Key trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Rest of Europe
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Malaysia
- 7.4.7 Indonesia
- 7.4.8 Rest of Asia Pacific
- 7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Rest of Latin America
- 7.6 MEA
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 South Africa
- 7.6.4 Rest of MEA
Chapter 8 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis
- 8.1 BAE Systems
- 8.2 CCI
- 8.3 Denel
- 8.4 Elbit Systems Ltd.
- 8.5 Global Ordnance
- 8.6 Magtech
- 8.7 NAMMO AS
- 8.8 Nexter Munition
- 8.9 Northrop Grumman Corporation
- 8.10 Olin Corporation
- 8.11 Orbital ATK Inc
- 8.12 Poongsan Corporation
- 8.13 Remington Arms Company
- 8.14 RUAG Ammotec
