Ammunition Market Size 2023: Growth, Share, Trends And Report Statistics By 2028

Industry Overview of Ammunition Market

Ammunition comprises a stockpile of materials, typically in the form of projectiles or explosives, specifically designed to be used in conjunction with firearms or other weaponry. Its primary purpose is to cause damage, deliver force, or achieve objectives when fired from a weapon. It takes the form of bullets, shells, cartridges, or various other types of munitions that are loaded into firearms or weapon systems. It possesses specific composition and specifications, which vary depending on the type of weapon it is intended for, such as pistols, rifles, shotguns, machine guns, artillery shells, and other heavy armaments. It provides individuals with a means to safeguard themselves and others in potentially dangerous situations.

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.

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Ammunition Market

What Are the Growth Prospects and Trends in The Ammunition Industry?

At present, the increasing demand for firearms and weapons in military operations, law enforcement activities, self-defense, and recreational shooting represents one of the vital factors impelling the growth of the market. Besides this, the rising focus on maintaining border security to prevent terrorist activities and human trafficking is contributing to the growth of the market. In addition, the growing technological advancements in improving bullet designs, propellants, and casings to enhance accuracy, lethality, and reliability is offering a favorable market outlook. Apart from this, the increasing interest in shooting sports and recreational shooting is supporting the growth of the market. Additionally, the rising concerns over personal safety and security among civilians are bolstering the growth of the market.

What is included in market segmentation?

The report provides 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 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.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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