PUBLISHER: Market Research Future | PRODUCT CODE: 1503277
PUBLISHER: Market Research Future | PRODUCT CODE: 1503277
Global Ammunition Market Research Report Information by Application Outlook (Defense, Civil & Commercial), Based on Caliber (Small, Medium, Large, Other), Product Outlook (Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars), Component Outlook (Fuse & Primer, Propellants, Base, Projectile & Warhead, Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Industry Forecast till 2030
USD 25,126.4 million is the expected annual ammunition market in 2022. Over the next projected period, the industry for ammunition markets is predicted to expand compound annually at rate (CAGR) of 4.3%. Rising numbers of armed conflicts and border disputes worldwide are driving a consistent expansion in the ammunition business. Moreover, the upgrading of military and law enforcement agencies is predicted to boost the market of the area within the next year.
Revenue growth in the ammunition market is predicted to be driven by the frequency of political unrest, geopolitical concerns, domestic and international wars. As their military forces grow, troops are strengthened, and tensions in the Middle East and Asia rise, South Korea, Russia, Japan, and other nations are experiencing demand for high-caliber ammo as well. Rising R&D spending and technological advancements are hastening the revenue growth in the ammunition industry. Demand for small and medium-caliber firearms in the company is rising in response to local strife and political unrest in several nations. For instance, Ukraine said on June 1, 2022, during the Russia-Ukraine conflict, that its military budget would rise by around USD 8.3 million, an almost 20% rise over past years' investment on defensive weapon replacement. National rules mandate that militaries and the defense industry routinely employ weapons and tools. Others seek a license to use an instrument for business usage, which drives producers to create more complicated ammunition for the market and forces regular individuals to acquire weapons illegally. Purchasing these goods on the dark web presents a difficulty for national governments and law enforcement departments assigned to stop the illicit arms trade. Military fortification will follow from rising geopolitical tensions, political turmoil, and cross-border conflicts-especially in the Middle East and Asia.
Understanding of market segments
Applications, caliber, product, component, geography, and so on have helped to classify the ammunition market.
Application has split the market into two sections: defense and civil/commercial.
Small, medium, big, and others define four divisions in the ammunition market depending on caliber.
Five product categories characterize the market: bullets, aerial bombs, grenades, artillery rounds, and mortars.
Five elements define the market: fuse and primer; propellants; base; projectile and warhead; others.
Regional perceptions
North America, Europe, Asia-Pacific, and the rest of the globe make up four divisions within the market. From 2023 to 2032, the projected CAGR of the ammunition market is 4.3%. With a 37.2% share, North America dominated the Ammunition Market in 2022; followed by Asia-Pacific and Europe with shares of 30.2% and 18.0%, respectively; developing nations like India and China are predicted to rise greatly throughout the forecast period.
The ammunition market of North America has the biggest share. With contemporary sea, land, and air vehicles acquired as well as technical innovation systems developed to drive the market, military spending is fast rising.
For several reasons, the European ammunition market is growing rather dramatically. Approved by EU defense ministers, the latest budget increase for 2023 of the European Defence Agency (EDA) shows the region's will to improve state military operations. Along with an emphasis on modernization, this budget increase has led to spending in munitions manufacturing and domain expertise in air, ground, cyber, and maritime operations.
main Participants
Olin Corporation (United States), GENERAL DYNAMICS CORPORATION (United States), Bae SYSTEMs (United Kingdom), NORTHROP GRUMMAN (United States), Visa Outdoor Operations LLC (United States), Rheinmetall AG (Germany), Nammo AS (Norway), Nexter group KNDS (France), CBC Global Ammunition (Brazil), and Poongsan Corporation (Republic of Korea).