On the back of increased participation in sports shooting, the global ammunition market is expected to grow 1.4x between 2019 and 2029. Ammunition manufacturers are investing in product development such as light weight bullets using polymer casings which is driving mass-adoption among government agencies and consumers alike. Rising global tensions pertaining to terrorism will garner increased traction from developing economies that wish to upgrade their defense capabilities to combat geopolitical insurgencies. However, illegal sales of ammunition will continue to pose restraints in global ammunition trade.
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Key Takeaways of Ammunition Market Study
- Centerfire ammunition will account for highest demand owing to its ability to withstand high pressures, facilitate re-use of casings, and enhanced safety features.
- Small Caliber ammunition will grow 1.5x during the forecast period as a result of high adoption from homeland security bodies and sport shooting consumers worldwide.
- Military and government bodies will drive a majority of growth in ammunition market as developing countries look to ensure national security and developed countries look to upgrade existing ammunition.
- North America holds largest market share since early adopters in this region maintain international dominance in defense systems.
- Rockets and missiles segment are expected to generate significant demand as North American economies such as the US take on upgradation of its nuclear capacity.
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Key Segments Covered
-
Caliber
- Small Caliber Ammunition
- 5.56 mm
- 7.62 mm
- 7.62 x 51 mm
- 7.62 x 39 mm
- Others
- 9 mm
- 9 x 18 mm
- 9 x 19 mm
- Others
- Medium Caliber Ammunition
- 23 mm
- 30 mm
- Others
- Large Caliber Ammunition
- VSHORAD
- 122 mm
- Others
- Rockets, Missiles and Others
- Tank Ammunition
- Artillery Ammunition
- Small Caliber Ammunition
-
Type
- Rimfire Ammunition
- Centerfire Ammunition
-
Application
- Civil & Commercial
- Sports Ammunition
- Hunting Ammunition
- Self Defense
- Defense Ammunition
- Military Ammunition
- Law Enforcement Ammunition
- Civil & Commercial
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Competitive Landscape
The ammunition market is fragmented due to the presence of various players supporting the armed forces. These players focus on adopting various strategies to expand product offerings and strengthen geographic presence. With advancements in technology, new players are expected to enter the market.
- In July 2021, a contract was signed by BAE Systems and the U.K Ministry of Defence (MOD) worth £250 Mn to progress the design and development of Tempest, the U.K’s Future Combat Air System (FCAS).
- In December 2020, Nammo and the Finnish Defense Forces (FDF) announced the signing of a new long-term strategic partnership agreement in continuation of the previous security of supply agreement between the two parties signed in 2014.
- The companies are investing in the development and manufacturing of advanced precision-guided ammunition that can effectively attack the target with limited collateral damage.
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