Ammunition Market Trends

Ammunition Market size was valued at USD 58.25 Billion in 2023 and is poised to grow from USD 61.51 Billion in 2024 to USD 95.11 Billion by 2032, growing at a CAGR of 5.60% during the forecast period (2025-2032).

Ammunition providers should focus on targeting countries with high military and defense expenditure to maximize their sales. Ensuring regulatory compliance with different standards and regulations will be highly crucial for any ammunition company looking to make a mark in this market. Use of eco-friendly materials and integration of smart technologies will also provide highly rewarding opportunities for ammunition companies in the long run. 'Northrop Grumman Corporation (US)', 'General Dynamics Corporation (US)', 'Olin Corporation (US)', 'BAE Systems (UK)', 'Rheinmetall AG (Germany)', 'FN Herstal (Belgium)', 'Poongsan Corporation (South Korea)', 'Nammo AS (Norway)', 'Vista Outdoor Inc. (US)', 'ST Engineering (Singapore)', 'CBC Group (Brazil)', 'Nexter Group (France)', 'Denel SOC Ltd (South Africa)', 'Ruag Ammotec (Switzerland)', 'Tulammo (Russia)', 'CCI Ammunition (US)', 'Eley Limited (UK)', 'Hornady Manufacturing Company (US)', 'Lapua (Finland)', 'Remington Arms Company (US)'

Countries and governments around the world are increasing their spending on military and defense applications to deal with rising political tensions and increasing risk of terrorism. This increased spending on military and defense is projected to uplift the sales of ammunition over the coming years.  

Development of Smart Ammunition: Ammunition embedded with advanced technology, such as laser-guided and programmable features is projected to be highly popular as the world turns towards modern warfare. Ammunition companies need to invest in the development of ammunition to maximize their business scope in the long run and improve revenue generation as well.  

North America is estimated to secure the top spot when it comes to the ammunition market. High military and defense spending coupled with the presence of key ammunition manufacturers helps this region remain the undisputed leader in the global ammunition market. The high military spending and favorable firearm regulations make the United States most lucrative market for ammunition providers in this region. Rising demand for advanced weapons and high investments in the development of new ammunition technologies are also helping this region generate more business for all market players. Canda is also expected to contribute to high demand for ammunition in the North America region through 2031.