Ammunition Market size surpassed USD 29.3 billion in 2021 and is projected to expand at around 4.7% CAGR from 2022 to 2030

Ammunition Market Size
Ammunition Market size exceeded USD 29.3 billion in 2021 and is estimated to grow at approximately 4.7% CAGR during the forecast period 2022-2030.

Persistent increase in terror attacks globally and higher defense modernization programs expenditure will fuel the demand for different kinds of ammunition. Based on the latest Global Terrorism Index (GTI), in 2021, the number of attacks had increased by 17% from the previous year. The increase in attacks reflects the necessity for law enforcement and military organizations to keep a strong arsenal for national defense.

To obtain major market trends

In geographies like Europe and North America with robust defense capacities, modern equipment and infrastructure adoption is on the rise. For example, the 2022 Russia-Ukraine war pushed Germany to initiate a USD 112 million security fund to modernize its military capacity. Equally invested across the world, manufacturing of high-tech weaponry and fighter jets will increase the share of the medium & large caliber ammunition industry.

Government measures to address gun violence and general indignation over domestic assaults would serve as deterrents for the growth of the industry. Some nations in Latin America are attempting to apply stricter gun ownership laws consisting of those countries where civilians are permitted to own guns. Rising crime rates in emerging economies may also affect weapon legislation, hindering the need for ammunition.

Government initiatives to limit gun violence and public anger against domestic attacks can serve as hindrances to the industry growth. Some nations in Latin America are planning to implement strict laws on gun ownership such as countries where civilian gun possession is permissible. Rising crime rates in developing nations may also affect weapon laws, inhibiting ammunition demand.

Ammunition Market Report Attributes
Report Attribute Details
Base Year 2021
Ammunition Market Size in 2021 USD 29,898.7 Million
Forecast Period 2022 to 2030
Forecast Period 2022 to 2030 CAGR 4.7%
2030 Value Projection USD 43,054.4 Million
Historical Data for 2018 to 2021
No. of Pages 130
Tables, Charts & Figures 107
Segments covered Caliber, Application
Growth Drivers
Increased terrorism activities and cross border wars
Increased popularity of sport-shooting and hunting
Military modernization initiatives
Pitfalls & Challenges
Strict governments regulations
What are the growth opportunities in this market?

Ammunition Market Analysis
The worldwide sales of mortar products ammunition market will register over 5% growth during 2030 due to an increasing number of cross-border disputes in the MEA and Europe. The product has numerous advantages for soldiers such as portability, simple maneuverability, and the fact that it can be fired from trenches.

Substantial expenditure to strengthen naval and land defense troops worldwide will impact the production of artillery items. In 2022, the UK government stated that it has raised its naval budget to almost USD 45.9 billion, a significant shift from the previous budget. According to reports, the money will be used to make the navy more lethal, increase fleet availability, and create a more technologically advanced force. The transition is a big potential for artillery and large-caliber ammunition requirements to strengthen sea and air defense systems.

Find out more about the prominent segments driving this market

According to ammunition sales figures, the civil use is forecasted to exceed USD 19 billion by 2030 with heightened expenditures on public security and enhanced use of guns for sporting purposes. Lighter weapons observe high sales in nations like the U.S., Canada, and Brazil, etc. Gun clubs and shooting games are very prevalent in North America. Government institutions provide individuals an opportunity to shoot and hunt on a specific ground keeping public security intact. Significant investment in regional police forces will again boost the demand for small caliber ammunition.

Discover more about the predominant segments influencing this market

In regional performance terms, Asia Pacific ammunition market size is anticipated to have growth rate of over 5.5% until 2030. Key industry drivers are increasing defense expenditures in nations like China, India, and Japan. Countries are also trying to enhance military strengths by implementing transformational programs for resolving civil & cross-border tensions. For example, India, Japan & Australia belong to the Quad Group and the U.S. as the fourth member. They are working together to establish their technical skills and enhance their strategic benefits.
Ammunition Market Share

Some of the major manufacturers of ammunition include

• BAE Systems
• CCI
• Global Ordnance
• Elbit Systems Ltd.
• NAMMO AS
• Magtech
• Denel
• Northrop Grumman Corporation
• Nexter Group
• Ruag Ammotech

Companies are continuously seeking opportunities for growth and expanding their market reach through R&D efforts, partnerships, key product developments, and merger & acquisition prospects. For instance, in February 2022, RUAG Ammotec introduced lead-free training ammunition for police forces to cut down on pollutants, indicating a potential transformation in small caliber ammunition.