According to the latest report by IMARC Group, The global ammunition market size reached US$ 24.8 Billion in 2023.

SHERIDAN, WYOMING, UNITED STATES, January 31, 2024 /EINPresswire.com/ -- IMARC Group's report titled "𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 (𝐁𝐮𝐥𝐥𝐞𝐭𝐬, 𝐀𝐞𝐫𝐢𝐚𝐥 𝐁𝐨𝐦𝐛𝐬, 𝐆𝐫𝐞𝐧𝐚𝐝𝐞𝐬, 𝐌𝐨𝐫𝐭𝐚𝐫𝐬, 𝐀𝐫𝐭𝐢𝐥𝐥𝐞𝐫𝐲 𝐒𝐡𝐞𝐥𝐥𝐬, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬), 𝐂𝐚𝐥𝐢𝐛𝐞𝐫 (𝐒𝐦𝐚𝐥𝐥, 𝐌𝐞𝐝𝐢𝐮𝐦, 𝐋𝐚𝐫𝐠𝐞), 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 (𝐆𝐮𝐢𝐝𝐞𝐝, 𝐍𝐨𝐧-𝐆𝐮𝐢𝐝𝐞𝐝), 𝐋𝐞𝐭𝐡𝐚𝐥𝐢𝐭𝐲 (𝐋𝐞𝐬𝐬-𝐋𝐞𝐭𝐡𝐚𝐥, 𝐋𝐞𝐭𝐡𝐚𝐥), 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐃𝐞𝐟𝐞𝐧𝐬𝐞, 𝐂𝐢𝐯𝐢𝐥 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥), 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐". The global ammunition market size reached US$ 24.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/ammunition-market/requestsample

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐌𝐢𝐥𝐢𝐭𝐚𝐫𝐲 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐒𝐩𝐞𝐧𝐝𝐢𝐧𝐠:

When governments allocate higher budgets to their military and defense sectors, there is a direct correlation with an increasing demand for ammunition as armed forces require a steady and reliable supply of ammunition for training, exercises, and operational purposes. Military modernization initiatives often involve upgrading weapons systems, which may require compatible or advanced types of ammunition. These upgrades drive the development and production of new ammunition varieties.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬:

Technological advancements are leading to the development of ammunition with enhanced ballistics, including greater accuracy and longer effective ranges. This makes ammunition more attractive to military and civilian users. Advancements in materials science are resulting in the creation of lighter, stronger, and more durable components for ammunition. This not only improves the performance of ammunition but also reduces its weight, making it more portable for users. In addition, innovative propellants and ignition systems are contributing to better ammunition performance.

𝐒𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐑𝐞𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐡𝐨𝐨𝐭𝐢𝐧𝐠:

Sporting and recreational shooters represent a substantial consumer base for ammunition. Enthusiasts engage in various shooting sports, such as target shooting, skeet shooting, and competitive shooting, require a consistent supply of ammunition. Different shooting disciplines and firearms require specific types of ammunition, including caliber, load, and projectile design. Manufacturers respond to this demand by producing a wide range of ammunition varieties to cater to the diverse needs of shooters. The popularity of competitive shooting events at local, national, and international levels is catalyzing the demand for high-quality ammunition.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

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)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=7558&flag=C

𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:

Bullets
Aerial Bombs
Grenades
Mortars
Artillery Shells
Others

Bullets represented the largest segment due to their versatile use in various firearms and applications.

𝐁𝐲 𝐂𝐚𝐥𝐢𝐛𝐞𝐫:

Small
Medium
Large

Small accounted for the largest market share on account of its utilization in handguns, rifles, and sporting firearms.

𝐁𝐲 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞:

Guided
Non-Guided

Non-guided exhibits a clear dominance in the market as it includes traditional ammunition without sophisticated guidance systems.

𝐁𝐲 𝐋𝐞𝐭𝐡𝐚𝐥𝐢𝐭𝐲:

Less-Lethal
Lethal

Lethal holds the biggest market share due to the employment of ammunition in defense and law enforcement applications.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

Defense
Military
Homeland Security
Civil and Commercial
Sporting
Hunting
Self-Defense
Others

Defense dominates the market on account of the substantial ammunition requirements of military and defense agencies for training, operations, and preparedness.

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

North America enjoys the leading position in the ammunition market due to high levels of firearms ownership and military spending.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Increasing defense spending by various nations due to security concerns and geopolitical tensions is catalyzing the demand for ammunition around the world. Ongoing advancements in ammunition technology, such as smart ammunition and improved ballistics, are bolstering the growth of the market.

The growing environmental awareness among the masses is encouraging manufacturers to develop eco-friendly ammunition options and reduce lead contamination in production processes.

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

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.

IMARCs 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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here