Authored By: Sarah
27 Oct 2023

Ammunition Market Growth Analysis | Adani Group, AMMO Inc., BAE Systems Plc are among Market Pioneers

Competitive Benchmarking and Forecasts for Market Players 2023-2027

The Ammunition Market is all set to become a billion-dollar industry followed by an estimated forecast to exhibit growth at a CAGR of 4.29% between 2022 and 2027 and USD 5.17 Bn revenue growth. 

Senior Analyst at Technavio Quoted ~ "Need for large-caliber ammunition is growing as military budgets are being increased, military personnel is being bolstered, and conflicts in the Middle East and Asia are affecting countries like South Korea, Russia, Japan, and others "

The prevalence of geopolitical conflicts, political tensions, and cross-border issues, the increase in ammunition procurement by armed forces or border security forces, and the increase in drug trafficking are some of the major determinants of market growth globally.

Moreover, technological advancements and increased R&D spending have also fueled the ammunition industry's revenue growth

Core Companies and their Key Offerings: When it comes to the key market players, the rising demand is pushing the market expansion of the Ammunition Market

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Snapshot of Ammunition Market Analysis

Some of the offerings by core companies comprise

  • BAE Systems Plc offers  Small Arms Ammunition in 5.56mm and 7.62mm NATO calibers including ball, tracer, and blank natures.
  • CBC Global Ammunition offers small-caliber ammunition under various brands called MEN, CBC defense, and MAGTEC.

Prominent names BAE Systems Plc, BERETTA HOLDING SA, CBC Global Ammunition, Denel SOC Ltd., Elbit Systems Ltd., Fabbrica dArmi Pietro Beretta S.p.A., General Dynamics Corp., Global Ordnance LLC, Hanwha Corp., Herstal SA, Industrias Tecnos S.A. de C.V., Lockheed Martin Corp., Mesko SA, Nammo AS, Nexter KNDS Group, Northrop Grumman Systems Corp., etc are some of the major market participants.

Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers followed by detailed profiling of the market players along with competitive benchmarking. Download our best-selling sample to learn more about the Ammunition Marke.

Ammunition Market Highlights

  • The Ammunition market is segmented by Product (Small caliber, Medium caliber, and Large caliber), Application (Defense, Civil, and commercial), and Geography (North America, APAC, Europe, Middle East and Africa, and South America).
  • North America led the market with 41% of the market growth set to originate from this region during the forecast period.
  • The Prevalence of geopolitical conflicts, political tensions, and cross-border issues is one of the primary factors driving the growth of the ammunition market. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. 
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