IMARC Group, a leading market research company, has recently releases report titled “Ammunition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ammunition market report, trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Ammunition Market
Ammunition refers to bullets, shells, powder, and primers that are made of brass, steel, and aluminum. It is designed to be fired, scattered, and detonated, and used to create projectiles for firearms, artillery, and other weapons. It facilitates easy transportation to allow higher mobility in tactical situations, and can be standardized for use across various platforms, thereby enhancing logistical efficiency. It offers quick loading and firing and has a longer shelf life, which reduces the need for frequent replacement. It helps civilians in protecting themselves and their properties in potentially dangerous situations. It is widely used in numerous military applications, which include powering infantry rifles, artillery, tanks, aircraft, and naval vessels. It is also utilized in recreational sports like target and clay pigeon shooting. Besides this, it is used by police and security forces to maintain public safety and enforce the law effectively. In line with this, it is employed in various scientific and ballistics tests to study impact, penetration, and other factors.
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.
What Are the Growth Prospects and Trends in The Ammunition Industry?
At present, the rise in crime rates in certain areas represents one of the key factors catalyzing the demand for firearms and corresponding ammunition. Additionally, the rising participation of individuals in shooting sports and recreational activities involving firearms is catalyzing the demand for ammunition. Additionally, the increasing geopolitical tensions, cross-border conflicts, and ongoing military modernization efforts are driving the need for advanced ammunition across the globe. Moreover, the governing authorities of various countries are continuously investing in cutting-edge weaponry to support their defense sector. Furthermore, innovations in ammunition technology, such as improved ballistics, precision-guided munitions, and advanced materials, are enhancing ammunition performance. Besides this, the leading market players are focusing on diversifying sourcing, adopting new distribution strategies, and ensuring consistent availability. They are also investing in research and development (R&D) activities to introduce ammunition solutions with enhanced penetration capabilities, reduced recoil, and improved aerodynamics. Apart from this, the relaxation of trade restrictions is making it easier for countries to import or export ammunition, which is contributing to the growth of the market. In addition, various suppliers are offering price incentives for buying ammunition in bulk, which is attracting individual gun owners and large organizations. Furthermore, strategic collaborations between firearm and ammunition brands for co-branded and specialized products are creating a positive outlook for the market. In addition, the expansion of specialized retail outlets focusing solely on ammunition and firearms is strengthening 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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