IMARC Group, a leading market research company, has recently releases a report titled “Ammunition Market Trends, Growth, Size and Report 2023-2028.” The study provides a detailed analysis of the industry, including the global ammunition market report, size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Ammunition Market
Ammunition comprises a diverse array of projectiles, encompassing bullets, shells, powder, and primers, meticulously crafted from materials like brass, steel, and aluminum. These components are precision-engineered for firing, scattering, and detonation, serving as pivotal elements in firearms, artillery, and various weapons. Engineered for effortless maneuverability in tactical situations, ammunition can be standardized across multiple platforms, thereby enhancing logistical efficiency. Its notable features include rapid loading and firing capabilities, coupled with an extended shelf life, minimizing the need for frequent replacements.
How big is the Ammunition Market?
The global ammunition market size reached US$ 23.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.67 Billion by 2028, exhibiting a growth rate (CAGR) of 4.15% during 2023-2028.
What Are the Growth Prospects and Trends in The Ammunition Industry?
Currently, the surge in crime rates in specific regions serves as a significant catalyst for the increased demand for firearms and corresponding ammunition. Simultaneously, the growing engagement of individuals in shooting sports and recreational firearm activities is fueling the ammunition market. Global demand for advanced ammunition is further propelled by escalating geopolitical tensions, cross-border conflicts, and ongoing military modernization efforts. Governing authorities worldwide continue to invest significantly in cutting-edge weaponry to bolster their defense sectors.
Furthermore, innovations in ammunition technology, such as enhanced ballistics, precision-guided munitions, and advanced materials, are elevating ammunition performance. Key market players are diversifying their sourcing methods, adopting innovative distribution strategies, and ensuring consistent product availability. Substantial investments in research and development (R&D) are driving the introduction of ammunition solutions with superior penetration capabilities, reduced recoil, and improved aerodynamics.
What is included in market segmentation?
The report provides a detailed segmentation of the global ammunition market based on based on product type, caliber, guidance, lethality, application, and region.
Product Type Insights:
- Bullets
- Aerial Bombs
- Grenades
- Mortars
- Artillery Shells
- Others
Caliber Insights:
- Small
- Medium
- Large
Guidance Insights:
- Guided
- Non-Guided
Lethality Insights:
- Less-Lethal
- Lethal
Application Insights:
- Defense
- Military
- Homeland Security
- Civil and Commercial
- Sporting
- Hunting
- Self-Defense
- Others
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
The report provides a comprehensive analysis of the industry’s key players listed below:
The Major Players in the market are 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), etc.