Ammunition is an object inserted inside a weapon such as bullets, artillery shells, aerial bombs, or mortars to shoot any target.

NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ -- Global Ammunition Market Size By Product Type (Bullets, Artillery Shells, Aerial Bombs, Mortars), By Calibre (Small, Medium, Large), By Application (Defense, Civil & Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

The global ammunition market is expected to grow from USD 23.1 billion in 2021 to USD 33.4 billion by 2030, at a CAGR of 4.2% during the forecast period 2022-2030. The increasing worldwide socio-political conflicts drive the market's growth and the growing cross-border disputes between two or many countries. Several developing economies are increasing their investment in the defense sector to help provide them with the best and world-class ammunition to be used in an emergency or war-like situation. However, the outbreak of Covid-19 affected the market's growth as ammunition and weapons manufacturing units were put temporarily on hold to stop the spread of coronavirus.

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The bullets segment dominated the market with a market share of around 6.4 billion in 2021.

The product type segment comprises bullets, artillery shells, aerial bombs, and mortars. The bullets segment dominated the market with a market share of around 6.4 billion in 2021. The investment in the defense sector, especially the land and air forces to provide them with the best ammunition, is driving the segment's growth.

The large caliber segment is expected to grow at the fastest CAGR of 5.3% over the forecast period.

The caliber type segment is divided into small, medium, and large. The large caliber segment is expected to grow at the fastest CAGR of 5.3% over the forecast period. The rising incidences of terrorism are driving the growth of the high caliber ammunition.

by Product Type:

Bullets
Artillery Shells
Aerial Bombs
Mortars
by Calibre:

Small
Medium
Large
by Application:

Defense
Civil & Commercial
The defense segment dominated the market accounting for around 14.5 billion in global revenue.

The application type segment is divided into defense and, civil & commercial. The defense segment dominated the market accounting for around 14.5 billion in global revenue. The increasing conflicts at the worldwide level are driving the growth of the ammunition market in the defense sector.

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Regional Segmentation Analysis:

The market is analyzed based on five regions, namely North America, Europe, Asia Pacific, South America, and Middle East, and Africa. North America is expected to be the largest market during the forecast period. The ammunition market in North America has expanded rapidly due to the rising investment by the government in the defense sector to boost their inventory. Several research and development activities in the region to enhance their ammunitions drive the growth of the ammunition market in the North American region during the forecast period.

Competitive Analysis:

The major players in the global ammunition market are Northrop Grumman Corporation, CBC Global Ammunition, RuagAmmotec, General Dynamics Corporation, Olin Corporation, BAE Systems, Thales Group, Rheinmetall AG, Nexter KNDS group, and Elbit Systems, among others.

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