Global Ammunition Market 2023 Business Insights, Latest Trends, Growth Opportunities And Forecast To 2032 | Major Players Are Northrop Grumman Corporation, General Dynamics Corporation, CBC Global Ammunition, Olin Corporation, Ruag Ammotec

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Ammunition Global Market Report 2023 identifies growing personal safety concernsas the major driver for the Ammunition Market's growth in the forecast period. The increasing terrorist activities, mass shootings, increasing gangster activities, and increasing awareness for self-defense are the main reasons for the growing personal safety concerns while the rising awareness about the safe use of guns is the main reason for increasing shooting ranges. These growing personal safety concerns and increasing shooting ranges have led to the increased procurement of small caliber ammo for personnel safety.

The global ammunition market size grew from $25.6 billion in 2022 to $27.48 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ammunition market size is expected to grow to $34.94 billion in 2027 at a CAGR of 6.2%.

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Major competitors in the ammunition market are Northrop Grumman Corporation, General Dynamics Corporation, CBC Global Ammunition, Olin Corporation, Ruag Ammotec, BAE Systems, Thales Group, Rheinmetall AG, Nexter KNDS Group, Elbit Systems, Nammo AS, Ammo Inc., Indian Ordnance Factories, Saab AB, Hanwha Corporation, and Arsenal JSCo.

A key trend in the Ammunition Market includes R&D activity to develop advanced ammunition. The rising incidences of armed international conflicts have directed several countries to enhance their military strengths through the procurement of advanced ammunition and equipment. As a result of this, the defense expenditure for ammunition procurement and R&D activities has increased significantly across the globe over the past few years. For instance, in April 2021, Lonestar Future Weapons, a US-based advanced technology company focused on the manufacture of next-generation defense solutions formed a strategic alliance with a US-based manufacturer of composite-cased ammunition True Velocity to create synergy by utilizing the expertise of both companies in R&D, precision manufacturing, quality control, and production efficiency. The alliance will focus on the research and development of next-generation weapons and ammunition solutions.

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The Ammunition Market is segmented -
By Product: Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars
By Caliber: Small, Medium, Large, Other Calibers
By Guidance Mechanism: Non-guided, Guided
By Application: Defense, Less-lethal
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Ammunition Market.

The Business Research Company's "Global Ammunition Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Ammunition Market Include:
1. Executive Summary
2. Ammunition Market Characteristics
3. Ammunition Market Trends And Strategies
4. Ammunition Forwarding Market - Macro Economic Scenario
5. Ammunition Market Size And Growth
……
26. Africa Ammunition Market
27. Ammunition Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ammunition Market
29. Ammunition Market Future Outlook and Potential Analysis
30. Appendix

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