Ammunition Market Overview
The ammunition market is poised to reach USD 11.85 billion by 2030, witnessing a CAGR of 4.01% during the period 2021-2030. The growth in global defense spending and initiation of infantry support programs to develop sophisticated and deadlier weaponry and ammunition is anticipated to bolster the adoption of newer generation ammunition with better penetrating power, thereby driving the growth of the ammunition market. Also, several new weapon and ammunition development programs are underway to develop lighter but deadlier ammunition with an enhanced range. The growth in technological advancements is fostering such developments. The demand for advanced weapons and related ammunition is primarily from countries in Europe and Asia-Pacific, either replacing their aging equipment or expanding their inventory to strengthen their armed forces.
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Ammunition Market – Geographical Overview
The North America region held the largest market share during the forecast period
The United States has one of the largest armed forces in the world, with 2.26 million total military personnel, of which 1.4 million serve as active military personnel and 0.86 million serve in the reserve force. The country has the largest military spending in the world. In addition to active combat, US personnel are typically deployed as part of several peacekeeping missions, military attachés, or are part of embassies, consulate securities, and several other classified missions. Such deployments have significantly contributed toward the growth of procurement of arms and ammunition by the US armed forces. The US military expenditure increased by almost 4.39% in 2020 to reach USD 778.23 billion. The United States remained the largest defense spending country in 2020 and represented 39% of global spending.
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Key Highlights of the Ammunition Market
- The ammunition market is fragmented with the presence of several global and local ammunition manufacturing companies. However, the market is majorly dominated by large international players like BAE Systems, Rheinmetall, General Dynamics, and RUAG while the rest of the market share is controlled majorly by the players in local defense industries of several countries.
- The need to maintain a sufficient inventory of ammunition with the militaries worldwide and the increasing demand for training ammunition is also anticipated to have a positive impact on the military small caliber ammunition segment. In addition, several militaries have been involved in peacekeeping missions and counter-insurgency operations in foreign countries and require a continuous supply of ammunition for continuing their operations. This has been driving the growth of the segment currently.
Recent Developments in the Ammunition Market
- In May 2021, India’s Ordnance Factory Board (OFB) announced that it has dispatched 11 million rounds of 5.56x45mm (M193) caliber bullets to the United States. This was the first major export order bagged by OFB for small arms’ ammunition from the United States.
- In February 2021, Rheinmetall Denel Munition has formalized a ten-year agreement with Northrop Grumman to develop ammunition technology for future artillery operations. The agreement focuses on precision-guided enhanced range artillery ammunition solutions by fitting 155mm artillery rounds with an integrated M1156 precision guidance kit (PGK).
Related Reports and Links
- Weapons and Ammunition Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
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List of Key Players in the Ammunition Market
- BAE Systems PLC
- Rheinmetall AG
- Elbit Systems Ltd
- Nexter Group
- General Dynamics Corporation
- Nammo AS
- RUAG Group
- Singapore Technologies Engineering Ltd
- Denel SOC Ltd
- Northrop Grumman Corporation
- MESKO SA
- CBC Global Ammunition
*List Not Exhaustive
Mordor Intelligence has segmented the global ammunition market on the basis of type, application, and geography:
- Type (Market Size & Forecast based on Revenue (USD billion), 2018-2030)
- Small Caliber Ammunition
- Medium Caliber Ammunition
- Large Caliber Ammunition
- Mortar Ammunition
- Artillery Ammunition
- Application (Market Size & Forecast based on Revenue (USD billion), 2018-2030)
- Non-lethal
- Lethal
- Geography (Market Size & Forecast based on Revenue (USD billion), 2018-2030)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- Russia
- France
- Rest of Europe
- Latin America
- Brazil
- Rest of Latin America
- Middle-East and Africa
- Saudi Arabia
- United Arab Emirates
- Turkey
- Rest of Middle-East and Africa
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