Ammunition Industry

The global ammunition market size was estimated at USD 68.57 billion in 2023 and is projected to decline at a CAGR of -11.3% from 2024 to 2030. A rise in the number of terrorist activities and hostilities across the globe is likely to increase the procurement of defense equipment by prominent militaries across the globe, thereby directly benefiting the industry over the forecast period.

Rising trends for sports and shooting that utilize rifles and pistols are expected to increase penetration of small-caliber ammunition over the forecast period. Technological advancements have introduced lightweight bullets made from polymer-based cases, thus supporting the overall industry.

High investments by the U.S. government for enhancements in military and armed forces are expected to support industry growth in the country. Procurement of small caliber ammunition by civilians and the Department of Homeland Security (DHS) is expected to bolster the overall industry growth. Enhancement of sales channels, such as online sales in the country, is likely to supplement overall growth.

A rise in the adoption of advanced materials to produce lightweight ammunition is expected to lead to fuel-efficient transportation, which, in turn, reduces overall transportation costs. The above-mentioned trend is anticipated to enable the transportation of more rounds within the same weight limits, thereby positively impacting the market growth. Furthermore, the use of advanced materials and new technologies for production is anticipated to fluctuate the ammunition price forecast over the period.

Commercially, these ammunition products are not widely available, considering restrictions on weapons in major economies. However, defense organizations in major territories have agreed on the procurement of these products to enhance security capabilities. Enhancements in the military by major economies such as China, India, France, and Russia are expected to support industry growth in the estimated time.

Gather more insights about the market drivers, restrains and growth of the Global Ammunition market

Ammunition Market Segments Highlights:

• Large caliber ammunition dominated the market with a revenue share of 51.13% in 2023. Large caliber can be classified into spin-stabilized, fin-stabilized, and rocket-assisted. Rocket assisted is a combination of spin-stabilized and fin-stabilized. A majority of guns use the spin-stabilized large-caliber cartridge as it promotes flight stability using spinning. In contrast, fin-stabilized projectiles obtain stability through fins located at the end of the projection period.
• The centerfire small ammunition products segment led the market in 2023 with a revenue share of 71.12%. Centerfire is usually used for rifles, shotguns, and handguns. In centerfire ammunition, primer is placed in center of casing base. This type of ammunition is reloadable and, hence, is the most commonly used cartridge type.
• The defense end use segment led the market, accounting for about 88.08% of the global market revenue in 2023. In addition, this segment is expected to maintain its dominance over the forecast period. Increasing cross-border conflicts have fueled the growth of the bullet market globally. Rising geopolitical tension and terrorist activities are expected to increase the penetration of products.
• The .223 Remington (5.56x45mm) dominated commercial shooting application in 2023 and accounted for a revenue share of 27.7%. The .223 Remington (5.56x45mm) cartridge is used commercially due to its association with military-grade firearms, such as the M16 rifle. This contributes to the widespread adoption of this cartridge and a surge in its market demand. The availability of multiple rifles chambered for.223 Remington cartridge, including ones optimized for accuracy and reliability when using high-velocity 5.56 NATO spec ammunition, has further led to growth of market.
• The .45 cartridge segment accounted for highest revenue share in 2023. The popularity of .45 ACP handguns among law enforcement agencies, military forces, and civilian gun enthusiasts is driving market growth. The rise in civilian gun ownership and increasing trend of concealed carry are fueling the demand for .45 ACP cartridges. The demand for larger caliber handguns and their corresponding ammunition has grown as individuals seek personal protection and home defense solutions. This trend has contributed to the expanding market for .45 ACP cartridges, as consumers prioritize stopping power and accuracy.

Ammunition Market Report Segmentation

Grand View Research has segmented the global ammunition market based on caliber, end use, cartridge, ammunition for commercial shooting product, ammunition for law enforcement and military shooting product, and region:

Ammunition Caliber Outlook (Revenue, USD Billion, 2018 - 2030)

• Small Caliber
  • 56 mm
  • 62 mm
  • 9 mm
• Medium Caliber
  • 23 mm
  • 30 mm
  • Others
• Large Caliber
  • VSHORAD
  • 122 mm
  • Others
• Rockets, Missiles & Other
  • Tank Ammunition
  • Artillery Ammunition

Ammunition Small Ammunition Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Rimfire
• Centerfire

Ammunition End Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Civil & Commercial
  • Sports
  • Hunting
  • Self Defense
• Defense
  • Military
  • Law Enforcement

Ammunition Market for Commercial Shooting: Product Outlook (Revenue, USD Billion, 2018 - 2030)

• 9×19mm
• 62×39mm
• 223 Rem (5.56 x 45mm)
• 308 Winchester (7.62)
• 300 Blackout (7.62×35mm)

Ammunition Cartridge Outlook (Revenue, USD Billion, 2018 - 2030)

• .45 ACP
• 39 Special
• 357 Magnum
• 6,8 Remington SPC

Ammunition Market for Law Enforcement and Military Shooting: Product Outlook (Revenue, USD Billion, 2018 - 2030)

• 9x19mm NATO
• 56×45mm
• 62×39mm
• 62×51mm

Ammunition Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Russia
  • Turkey
  • Czech Republic
  • Poland
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Singapore
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE

Key Ammunition Company Insights

Some of the key players operating in the market include Northrop Grumman and General Dynamics Corporation.

• Northrop Grumman multinational aerospace and defense technology company, engaged in designing and manufacturing of various products for aeronautics, space, cyberspace, and defense industries. The company has approximately 100000 employees and about 550 facilities which are spread across 25 countries globally.
• General Dynamics Corporation was incorporated in 1952 and is headquartered in Virginia, U.S. The company consists of 10 business units, which are organized into four operating segments, namely Aerospace, Marine Systems, Combat Systems, and Technologies. With approximately 50 airport sites throughout North America, Europe, the Middle East, and Asia, it offers MRO, FBO, and aircraft management services. It also offers customized solutions for narrow-body and wide-body aircraft.  

Jageman Stamping Co. and Hornady Manufacturing Company, Inc. are some of the emerging market participants. 

• Jageman Stamping Co. is a leading producer of progressive, deep-drawn, and fine blanked stampings based in the U.S. The company develops unique manufacturing solutions for various industries, including automotive, electrical, consumer products, industrial, and home hardware.
• Hornady Manufacturing Company, Inc. U.S. based manufacturer of bullets, ammunition, and muzzleloading equipment. The company provides its products in the domestic and international markets.

Key Ammunition Company Insights

• Northrop Grumman Corporation
• FN Herstal
• Olin Corporation
• General Dynamics Corporation
• BAE Systems, Inc.
• Rheinmetall Defense
• Nexter KNDS Group
• Hanwha Corporation
• ST Engineering
• Remington Arms Company LLC
• Vista Outdoor Operations LLC

Recent Developments

• In February 2023,Remington Arms Company LLC launched their new product line. The company announced updates in their existing product line of handgun, shotshell, rimfire and rifle.
• In January 2023, the brands of Vista Outdoor Inc., CCI and Speer Ammunition launched two new products under their ammunition line. The new products include CCI’s Clean-22 Hyper Velocity and Speer’s Gold Dot Carbine ammunition, and they will be displayed at 2023 SHOT Show taking place in Nevada.

Order a free sample PDF of the Ammunition Market Intelligence Study, published by Grand View Research.