Global Ammunition Market Research Report Information BY CALIBRE, BY PRODUCT BY COMPONENT BY GUIDANCE MECHANISM BY LETHALITY BY APPLICATION And By Region Forecast Till 2032
Global Ammunition Market Research Report Information BY CALIBRE (Small, Medium, Large), BY PRODUCT (Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars) BY COMPONENT (Fuzes & Primers, Propellants, Bases, Projectiles and Warheads, Others) BY GUIDANCE MECHANISM (Non-Guided, Guided) BY LETHALITY (Lethal, Less-lethal) BY APPLICATION (Defense, Civil & Commercial And By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Forecast Till 2032
Overview of the Market
In 2023, the ammunition market was estimated to be worth USD 23,469.05 million. According to projections, the ammunition market industry would expand at a compound annual growth rate (CAGR) of 4.16% from USD 24,462.11 million in 2024 to USD 33,887.62 million by 2032. Because of the increasing number of armed conflicts and border disputes worldwide, the ammunition market is continuously expanding. Additionally, throughout the course of the forecast year, the modernization of law enforcement and military organizations is anticipated to propel the region's market.
To meet demands that have begun to increase quickly due to ongoing international wars, the U.S. Army is increasing the stakes on military modernization, particularly in the development of artillery. The service is now working up to 70-80,000 shells each month by early 2025, with the goal of reaching a rate of 100,000 155 mm shells per month by that time. This increase in output is intended to support Ukraine's defense against Russia, but it also serves to restock American and NATO stockpiles. The company is spending money on production technologies. It focuses on robotics that could generate the higher quality and efficiency that the investment is intended to achieve. It is valued at $500 and is reportedly altering the production methods at artillery plants in Texas, shifting the workforce toward more technical positions rather than employment cuts. The Scranton Army Ammunition Plant can now produce 36,000 rounds per month instead of just 24,000, and there is also the possibility of adding more production lines. Since 2022, the United States has sent more than 3 million 155-millimeter rounds to Ukraine.
Analysis of Market Segments
The ammunition market has been divided into small, medium, and large segments based on caliber.
The ammunition market has been divided into four product categories: artillery shells, mortars, grenades, aerial bombs, and bullets.
Fuzes & Primers, Propellants, Bases, Projectiles & Warheads, and Others are the categories into which the ammunition market has been divided based on component.
The ammunition market has been divided into two categories based on guidance mechanisms: guided and non-guided.
The ammunition market has been divided into two segments based on application: defense and civil and commercial.
Regional Perspectives
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America are the regions for which the study offers market information. North America accounted for 37.2% of the ammunition market's revenue in 2023, and it is anticipated to continue to dominate the market for the foreseeable future. Military spending is increasing quickly, and the market is being driven by the development of technical innovation systems as well as an increase in the purchase of sophisticated air, land, and sea vehicles. This is mostly attributable to the fact that local law enforcement, military, and border security personnel purchase ammunition in order to reduce the risks associated with terrorism, territorial disputes, and geopolitical tensions. Demand is created in the market because of North American nations acquiring munitions systems to defend their borders.
Key Players
The Goodyear Tire & Rubber Company, Dayco Corporation, Polaris Inc., Foshan Aolida Transmission Belt Co. Ltd., The Timken Company, Hanna Rubber Company, Bando Chemical Industries, Ltd., JK Fenner, Pix Transmissions Ltd., G. Balakrishan & Bros. Ltd., Gates Corporation, Mitsuboshi Belting Ltd., Contitech Dutchland GMBH, Optibelt GMBH, and Evolution Powersports are some of the major players in the ammunition market.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 OVERVIEW
3.2 DATA FLOW
3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
3.5.1 PRIMARY RESEARCH DATA FLOW:
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
3.8.1 MICROECONOMIC FACTOR ANALYSIS:
3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 REGIONAL SECURITY CONCERNS AND INTERNAL CONFLICTS
4.2.2 INCREASED MILITARY MODERNIZATION EFFORTS
4.2.3 GROWING LAW ENFORCEMENT NEEDS
4.2.4 RISING TERRORISM THREATS
4.2.5 RISING NUMBER OF ARMED CONFLICTS AND BORDER DISPUTES
4.3 RESTRAINT
4.3.1 STRINGENT EXPORT CONTROLS AND REGULATIONS
4.3.2 IMPOSING GUN CONTROL REGULATIONS
4.3.3 IMPOSING GUN CONTROL REGULATIONS
4.4 OPPORTUNITY
4.4.1 DEMAND FOR COUNTER-TERRORISM AND BORDER SECURITY SOLUTIONS
4.4.2 TECHNOLOGICAL COLLABORATION FOR INDIGENOUS AMMUNITION PRODUCTION
4.4.3 RISING FOCUS ON CYBERSECURITY IN DEFENSE
4.5 CHALLENGES
4.5.1 COMPLEX REGULATORY LANDSCAPE ACROSS COUNTRIES
4.5.2 LIMITED RESEARCH AND DEVELOPMENT CAPABILITIES