Global Ammunition Market to Hit USD 36.1 Billion by 2033 | IMARC Group

November 05, 2024 | Aerospace and Defense

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Global Ammunition Market Statistics, Outlook and Regional Analysis 2025-2033

The global ammunition market size was valued at USD 25.8 Billion in 2024, and it is expected to reach USD 36.1 Billion by 2033, exhibiting a growth rate (CAGR) of 3.44% from 2025 to 2033.

Ammunition Market

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The ammunition market is expanding as nations ramp up local production capabilities to boost defense readiness and achieve strategic autonomy. In addition, countries are actively supporting projects that strengthen ammunition supply chains and advance technological developments within their defense sectors. In January 2024, the Indian Navy launched LSAM 19, an ammunition, torpedo, and missile barge under the 11 x ACTCM Barge Project, constructed by Suryadipta Projects. This initiative supports the country’s Make in India program, underscoring its commitment to localize defense production while enhancing logistics for ammunition transport. Moreover, Europe is also strengthening its ammunition manufacturing capabilities to address growing security needs. Germany’s Rheinmetall, for example, initiated construction on a new ammunition production facility in February 2024, aimed at bolstering Europe’s ammunition supply chain amid the Ukraine conflict. This project illustrates Europe’s dedication to bolstering regional defense capacities.

Besides this, in September 2024, Tembo Global Industries partnered with a European firm to establish an arms and ammunition hub in India. This collaboration, featuring a buy-back clause, secures a steady market for Tembo’s ammunition output while benefiting from European technical expertise. Meanwhile, these strategic partnerships and facility expansions underline the trend of localized, robust manufacturing aimed at securing stable ammunition supplies. Furthermore, the market growth is further supported by government policies and partnerships designed to boost research and innovation in ammunition technology. Also, geopolitical tensions continue to encourage countries to prioritize self-sufficiency, while cross-border collaborations bring in advanced expertise and expand production capabilities. Consequently, these developments signal a clear shift towards independent, resilient defense supply chains and enhanced regional cooperation, positioning the ammunition market for strong growth in the coming years as the global demand for defense products remains high.

Global Ammunition Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.

According to the report, North America accounted for the largest ammunition market share, driven by increasing defense initiatives and substantial investments in local production. Meanwhile, key players in the region are actively expanding manufacturing and forming partnerships to meet both domestic and international needs, reinforcing supply chain resilience and security. For instance, in September 2024, Saab announced a new munitions facility in Grayling, Michigan, focusing on the assembly of shoulder-fired munitions and precision fire systems. This facility, scheduled for groundbreaking in Q4 2024, will significantly enhance U.S. ammunition production capacity and support national defense objectives. Such developments underscore North America's strategic focus on bolstering ammunition output amid rising global security demands.

North America Ammunition Market Trends:

The regional market benefits from advancements in technology and manufacturing processes, supporting the long-term growth of the ammunition sector, and positioning North America as a leader in defense production capabilities.

Asia Pacific Ammunition Market Trends:

In Asia-Pacific, the market is witnessing growth driven by increasing defense budgets and military modernization efforts, particularly in India and China. The region is also seeing rising demand for small arms ammunition due to civilian use for personal safety. For instance, India’s “Make in India” initiative encourages domestic ammunition production to reduce imports and strengthen self-reliance in defense.

Europe Ammunition Market Trends:

Europe ammunition market is influenced by rising defense expenditures due to regional tensions and NATO commitments. Increased investment in advanced munitions, such as guided ammunition, is notable, as seen in Germany’s push for high-precision artillery. Besides this, the growth in shooting sports across countries like France and Italy contributes to rising civilian ammunition sales.

Latin America Ammunition Market Trends:

In Latin America, the market is primarily fueled by heightened security needs due to crime rates and an expanding law enforcement sector. Brazil’s demand for ammunition for police forces and private security is substantial. Additionally, there is a focus on small arms ammunition to support the growth of civilian gun ownership in countries with relaxed firearm laws, such as Paraguay.

Middle East and Africa Ammunition Market Trends:

In Middle East and Africa, the market growth is shaped by ongoing regional conflicts and defense modernization, with countries like Saudi Arabia investing heavily in advanced munitions. Demand for artillery ammunition and precision-guided weapons is increasing. Furthermore, rising partnerships with global defense firms support local production initiatives, as seen in the UAE’s collaboration with international manufacturers.

Top Companies Leading in the Ammunition Industry

Some of the leading ammunition market companies include 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, and Sierra Bullets (Clarus Corporation), among many others. In April 2024, AMMO, Inc. acquired a tooling manufacturer to support ammunition production at its Manitowoc, Wisconsin, facility. This acquisition is projected to save over US$ 1 Million annually, streamline operations, and improve production efficiency, reinforcing AMMO’s leadership in high-performance ammunition.

Global Ammunition Market Segmentation Coverage

On the basis of the product type, the market has been bifurcated into bullets, aerial bombs, grenades, mortars, artillery shells, and others, wherein bullets represent the most preferred segment. The demand for bullets is driven by their essential role in a wide range of firearms, from rifles to shotguns, thereby making them a critical component of the global ammunition supply.
Based on the caliber, the market is categorized into small, medium, and large, amongst which small dominates the market. This is primarily driven by extensive use across multiple sectors, including law enforcement, military, and civilian applications like sport shooting and hunting.
On the basis of the guidance, the market has been divided into guided and non-guided. Among these, non-guided dominates the market. This includes traditional shells, bullets, and bombs. Companies like General Dynamics have recently launched new non-guided ammunition products to meet evolving military needs.
Based on the lethality, the market is bifurcated into less-lethal and lethal, wherein lethal dominates the market. This is driven by the need for effective and reliable munitions in both military and law enforcement applications.
On the basis of the application, the market is segmented into defense (military and homeland security) and civil and commercial (sporting, hunting, self-defense, and others). Currently, defense account for the majority of the total market share. It continues to be a critical area of innovation, as nations seek to equip their armed forces with reliable munitions capable of addressing modern security threats.

Report Features	Details
Market Size in 2024	USD 25.8 Billion
Market Forecast in 2033	USD 36.1 Billion
Market Growth Rate 2025-2033	3.44%
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Ammunition Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Caliber Guidance Lethality Application Region
Product Types Covered	Bullets, Aerial Bombs, Grenades, Mortars, Artillery Shells, Others
Calibers Covered	Small, Medium, Large
Guidances Covered	Guided, Non-Guided
Lethalities Covered	Less-Lethal, Lethal
Applications Covered	Defense: Military, Homeland Security Civil and Commercial: Sporting, Hunting, Self-Defense, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Ammunition Market to Hit USD 36.1 Billion by 2033 | IMARC Group

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