Ammunition Market Size to Hit US$ 34.6 Billion by 2032 | Grow CAGR by 3.62%

SHERIDAN, WYOMING, UNITED STATES, June 26, 2024 /EINPresswire.com/ -- IMARC Group's report titled "𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 (𝐁𝐮𝐥𝐥𝐞𝐭𝐬, 𝐀𝐞𝐫𝐢𝐚𝐥 𝐁𝐨𝐦𝐛𝐬, 𝐆𝐫𝐞𝐧𝐚𝐝𝐞𝐬, 𝐌𝐨𝐫𝐭𝐚𝐫𝐬, 𝐀𝐫𝐭𝐢𝐥𝐥𝐞𝐫𝐲 𝐒𝐡𝐞𝐥𝐥𝐬, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬), 𝐂𝐚𝐥𝐢𝐛𝐞𝐫 (𝐒𝐦𝐚𝐥𝐥, 𝐌𝐞𝐝𝐢𝐮𝐦, 𝐋𝐚𝐫𝐠𝐞), 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 (𝐆𝐮𝐢𝐝𝐞𝐝, 𝐍𝐨𝐧-𝐆𝐮𝐢𝐝𝐞𝐝), 𝐋𝐞𝐭𝐡𝐚𝐥𝐢𝐭𝐲 (𝐋𝐞𝐬𝐬-𝐋𝐞𝐭𝐡𝐚𝐥, 𝐋𝐞𝐭𝐡𝐚𝐥), 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐃𝐞𝐟𝐞𝐧𝐬𝐞, 𝐂𝐢𝐯𝐢𝐥 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥), 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐". The global ammunition market size reached US$ 24.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.

𝐆𝐫𝐚𝐛 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/ammunition-market/requestsample

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

● 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞:

The rising global defense expenditure is impelling the growth of the market. Many countries are increasing their defense budgets in response to geopolitical tensions, regional conflicts, and the need to modernize their armed forces. This trend is particularly evident where nations are either expanding their military capabilities or replacing outdated equipment. This increase in defense spending is catalyzing the demand for ammunition across various segments, including small arms, artillery, and naval weaponry. The modernization programs often involve not only the procurement of new weapons systems but also substantial stocks of compatible ammunition. Additionally, the ongoing need for training and preparedness ensures a steady consumption of ammunition.

● 𝐑𝐢𝐬𝐢𝐧𝐠 𝐂𝐢𝐯𝐢𝐥𝐢𝐚𝐧 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐔𝐬𝐞 𝐨𝐟 𝐅𝐢𝐫𝐞𝐚𝐫𝐦𝐬:

The growing civilian ownership and use of firearms is propelling the market growth. In several countries, there is a noticeable increase in the number of individuals purchasing firearms for personal protection, recreational shooting, and hunting. The rise in firearm sales, often leads by concerns over personal safety and changing regulatory landscapes, directly drives the demand for ammunition. Recreational activities, such as shooting sports and hunting also contribute significantly to ammunition needs. Furthermore, as more individuals engage in these activities, the need for specialized and high-performance ammunition is growing. Manufacturers are responding by producing a wide range of ammunition types to cater to varied civilian needs, from self-defense rounds to precision hunting cartridges.

● 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬:

Ongoing advancements and innovations in ammunition design and manufacturing are pivotal factors supporting the market growth. The development of more effective, reliable, and specialized ammunition is opening new avenues. Modern ammunition incorporates advanced materials, improved ballistics, and enhanced lethality, meeting the evolving needs of both military and civilian users. Moreover, advancements in propellant chemistry are leading to the creation of ammunition that offers greater range and accuracy. Apart from this, the development of smart munitions, which can be guided to their targets with high precision, represents a significant leap in technology. Manufacturers are also investing in research and development (R&D) to create next-generation ammunition that can outperform traditional types.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

● 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)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=7558&flag=C

𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:

● Bullets
● Aerial Bombs
● Grenades
● Mortars
● Artillery Shells
● Others

Bullets exhibit a clear dominance due to their widespread use in specific combat scenarios and improvements in aerodynamic advancements.

𝐁𝐲 𝐂𝐚𝐥𝐢𝐛𝐞𝐫:

● Small
● Medium
● Large

Small represents the largest segment as it is lightweight, portable, and suitable for a wide range of applications like personal defense.

𝐁𝐲 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞:

● Guided
● Non-Guided

Non-guided holds the biggest market share, owing to its usage for standard military and civilian purposes.

𝐁𝐲 𝐋𝐞𝐭𝐡𝐚𝐥𝐢𝐭𝐲:

● Less-Lethal
● Lethal

Lethal accounts for the majority of the market share. It ensures the intended target is incapacitated with a greater degree of certainty.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

● Defense
● Military
● Homeland Security
● Civil and Commercial
● Sporting
● Hunting
● Self-Defense
● Others

Defense represents the largest segment, driven by the rising investments in military and defense sectors to improve operations and maintain border security.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

North America dominates the market attributed to the growing adoption of advanced ammunition systems in the military and defense sector.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐦𝐦𝐮𝐧𝐢𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The increasing demand for ammunition from law enforcement and security agencies is bolstering the market growth. As urbanization and population density rise, so do the challenges associated with maintaining public safety and order. Governments around the world are investing more in their police forces and private security firms to address these challenges. Law enforcement agencies require a constant supply of ammunition for various purposes, including training, routine patrol duties, and special operations. The need for diverse types of ammunition, from non-lethal options for crowd control to high-caliber rounds for tactical operations, ensures a steady and varied demand. Moreover, the threat of terrorism, organized crime, and civil unrest is leading to an increased emphasis on tactical readiness and the acquisition of advanced ammunition to equip security personnel adequately. This focus on security preparedness drives continuous procurement and replenishment of ammunition stocks.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐁𝐲 𝐈𝐌𝐀𝐑𝐂 𝐆𝐫𝐨𝐮𝐩:

𝐏𝐨𝐮𝐥𝐭𝐫𝐲 𝐅𝐞𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/poultry-feed-market

𝐅𝐢𝐫𝐞 𝐒𝐚𝐟𝐞𝐭𝐲 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/fire-safety-equipment-market

𝐎𝐧𝐥𝐢𝐧𝐞 𝐋𝐨𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/online-lottery-market

𝐈𝐧𝐭𝐞𝐫𝐢𝐨𝐫 𝐃𝐞𝐬𝐢𝐠𝐧 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/interior-design-software-market

𝐃𝐂-𝐃𝐂 𝐂𝐨𝐧𝐯𝐞𝐫𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/dc-dc-converter-market

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
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