PUBLISHER: Market Research Future | PRODUCT CODE: 1677729
PUBLISHER: Market Research Future | PRODUCT CODE: 1677729
Global Weapons and Ammunition Market Research Report: By Type (Firearms, Ammunition, Explosives, Military Weapons, Non-Lethal Weapons), By Application (Defense, Commercial, Law Enforcement, Sports Shooting, Hunting), By Weapon System (Small Arms, Artillery, Missiles, Armored Vehicles, Naval Weapons), By End User (Government, Private Security Firms, Sports Enthusiasts, Civilian Users) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) Forecast to 2032
According to MRFR, the global weapons and ammunition market has expanded dramatically during the last several years. It is estimated to reach USD 103.51 billion by 2032, growing at a CAGR of 6.6% over the forecast period (2024-2032).
Defense spending, military technical advancements, and geopolitical tensions are all driving significant trends in the worldwide weapons and ammunition business. Many countries are boosting their military capabilities in response to rising international conflicts and security concerns.
The rising need for ammunition and improved weaponry is a primary driving force behind the sector. Furthermore, countries are being compelled to expand their spending in armaments, such as cyber warfare technologies and precision-guided missiles, as defense infrastructure is constantly upgraded and military assets become more advanced.
Among the numerous potentials in this business is the possibility of increased collaboration between the public and private sectors. As defense budgets grow, there is an increasing opportunity for inventive enterprises to provide new solutions, notably in unmanned systems and artificial intelligence applications in military operations.
Market Segment insights
The Global Weapons and Ammunition Market has been classified by type into many key categories that collectively demonstrate its dynamism and potential for expansion.
In 2024, the Firearms category was worth 105.0 USD billion, making it a key participant in the sector. This segment is predicted to rise to $126.0 billion by 2035, demonstrating its importance in the market due to rising demand from both civilian and law enforcement sectors.
The market is divided into several categories, including defense, commercial, law enforcement, sports shooting, and hunting. The defense sector remains a critical driver as countries continue to strengthen their military capabilities in response to geopolitical conflicts and security concerns.
The Weapon System segment of the Global Weapons and Ammunition Market is constantly evolving, reflecting advances in military technology and shifting defense strategy.
Small arms, artillery, missiles, armored vehicles, and naval weapons are critical components that not only contribute to military capabilities but also drive market trends. Small arms remain important for ground forces because of their versatility and ease of use, although artillery provides superior firepower on the battlefield.
The Global Weapons and Ammunition Market is divided into many end user categories, each of which plays an important role in market dynamics. The government sector is notable due to its emphasis on national security and defense activities, which fuel demand for modern weaponry and ammunition.
Regional insights
Regional segmentation has a significant impact on the Global Weapons and Ammunition Market, revealing varying valuations across different geographies.
Europe came in second with a valuation of 105.0 USD billion, indicating significant investments in defense projects in the face of escalating security concerns. The APAC area, estimated at $70.0 billion in 2024, was significant due to rising defense budgets, geopolitical concerns, and economic growth.
South America and MEA were relatively smaller markets, worth 36.0 USD billion and 18.0 USD billion, respectively, with room for growth as regional risks and modernization efforts were prioritized.
Leonardo, Oshkosh Corporation, Lockheed Martin, Rheinmetall, SAAB, Kongsberg Gruppen, General Dynamics, L3Harris Technologies, Textron, Huntington Ingalls Industries, Northrop Grumman, Elbit Systems, Raytheon Technologies, BAE Systems, and Thales Group are among the weapons and ammunition market's key players.