Ammunition Market Size is Projected to Reach US$ 30.67 Billion by 2028

Industry Overview of Ammunition Market
IMARC Group, a leading market research company, has recently releases report titled "Ammunition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global double suction pump market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is an Ammunition?
Ammunition represents the projectiles and propelling chargers that are specifically designed for attacking and defending a position from a gun. It usually comprises several components, such as a primer, cartridge case, powder, wad, projectile, etc. Ammunition is commonly available as high-explosive round, armored-piecing round, high-explosive squash head (HESH) round, armored-piecing discarding sabot (APDS), armor-piercing discarding sabot fin-stabilized (APDSFS), etc. It is manufactured by using various materials, including aluminum, polymer plastics, lead, chromium, steel, brass, copper, etc. Ammunition is stored in an airtight metal container and aids in preventing conflicts and supporting security transitions. In line with this, it assists in providing force against a particular target. Consequently, ammunition is extensively utilized in hunting, self-defense, law enforcement, sports, and military purposes across the globe.

How big is the Ammunition Market?
The global ammunition market size reached US$ 23.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.67 Billion by 2028, exhibiting a growth rate (CAGR) of 4.15% during 2023-2028.

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What Are the Growth Prospects and Trends in The Ammunition Industry?
The growing incidences of political conflicts and cross-border issues are primarily driving the ammunition market. Additionally, the increasing occurrence of terrorist activities and mass shootings is further catalyzing the market growth. Besides this, the escalating demand for small and medium-scale projectiles in recreational shooting sports is acting as another significant growth-inducing factor. Moreover, the widespread adoption of lightweight bullets by soldiers for carrying more ammunition while fighting against an enemy is positively influencing the global market. Apart from this, the rising investments in defense equipment by government bodies across countries to improve firepower assets and maintain safety and security are also stimulating the market growth. Furthermore, the development of lightweight bullets that are produced from polymer-based cases is anticipated to fuel the ammunition market over the forecasted period.

What is included in market segmentation?
The report provides detailed segmentation of the global ammunition market based on based on product type, caliber, guidance, lethality, application and region.
Product Type Insights:
• Bullets
• Aerial Bombs
• Grenades
• Mortars
• Artillery Shells
• Others

Caliber Insights:
• Small
• Medium
• Large

Guidance Insights:
• Guided
• Non-Guided

Lethality Insights:
• Less-Lethal
• Lethal

Application Insights:
• Defense
o Military
o Homeland Security
• Civil and Commercial
o Sporting
o Hunting
o Self-Defense
o Others

Regional Insights:
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

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The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are 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), etc.

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