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 MECHA

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) Industry Forecast Till 2032

In 2023, the ammunition market was estimated to be worth USD 23,469.05 million. The Ammunition market industry is anticipated to experience 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 during the forecast period (2024-2032). The Ammunition Market is experiencing consistent growth as a result of an increasing number of armed conflicts and border disputes worldwide. Additionally, the market in the region is anticipated to be stimulated by the modernization of military and law enforcement agencies during the forecast year.

The U.S. Army is increasing the importance of military modernization, particularly in artillery production, to meet the rapidly increasing demands that have arisen in response to active global conflicts. The service is presently in the process of increasing its production rate to 70-80,000 shells per month by early 2025, with the ultimate goal of achieving 100,000 155 mm shells per month by 2025. Although this increase in output is intended to support Ukraine's defense against Russia, it is also intended to replenish the stockpiles of the United States and its allies. The organization is making investments in manufacturing technologies. It concentrates on robotics that have the potential to generate the improved quality and efficiency that are the reason for the investment. It is estimated to be worth $500 and is purported to be altering the production processes at Texas artillery plants by reorienting the workforce toward more technical positions rather than employment cuts. The capacity of the Scranton Army Ammunition Plant has been increased from 24,000 to 36,000 rounds per month, with the potential for further expansion through the establishment of additional lines for the production of these rounds. Since 2022, the United States has supplied Ukraine with more than three million 155 mm ammunition.

Market Segment Insights
The Ammunition Market has been segmented into small, medium, and large based on caliber.
The Ammunition Market has been segmented into Bullets, Aerial Bombs, Grenades, Artillery Shells, and Mortars based on product.
The Ammunition Market has been segmented into Fuzes & Primers, Propellants, Bases, Projectiles and Warheads, and Others, organized by component.
The ammunition market has been divided into two categories: non-guided and guided, as determined by the guidance mechanism.
The Ammunition Market has been structured into two segments: Defense and Civil & Commercial, based on application.

Regional Perspectives
The study offers market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America by region. North America maintained its dominance in the Ammunition market in 2023, with a revenue share of 37.2%. This is anticipated to continue throughout the forecast period. The market is being driven by the rapid expansion of military expenditure, which is fueled by the procurement of advanced sea, land, and air vehicles, as well as the advancement of technological innovation systems. The procurement of ammunition by local enforcement agencies, armed forces, and border security forces to mitigate the threats resulting from territorial conflicts, terrorism, and geopolitical tensions is the primary factor contributing to this. In order to safeguard their borders, the countries of North America are purchasing ammunition systems, which in turn creates a demand in the market.

Major Players
Gates Corporation, Mitsuboshi Belting Ltd., Contitech Dutchland GMBH, Optibelt GMBH, The Timken Company, Hanna Rubber Company, Bando Chemical Industries, Ltd., JK Fenner, Pix Transmissions Ltd., G. Balakrishan & Bros. Ltd., The Goodyear Tire & Rubber Company, Dayco Corporation, Polaris Inc., Foshan Aolida Transmission Belt Co. Ltd., and Evolution Powersports are among the key companies in the ammunition market. Show more