Ammunition Market: Key Drivers, Research Insights, and Report 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Ammunition Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The ammunition market size has grown strongly in recent years. It will grow from $27.19 billion in 2023 to $29.03 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to military modernization, global defense budgets, increased terrorism threats, weapon system upgrades, regional security concerns, law enforcement needs.

The ammunition market size is expected to see strong growth in the next few years. It will grow to $38.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to modern warfare requirements, counterterrorism operations, cybersecurity concerns, global arms trade, civil unrest and public safety. Major trends in the forecast period include non-lethal ammunition, propellant and casing technologies, sustainable practices in ammunition manufacturing, miniaturization of ammunition, enhanced training ammunition.

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Market Segmentation:
The ammunition market covered in this report is segmented -
1) By Product: Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars
2) By Caliber: Small, Medium, Large, Other Calibers
3) By Guidance Mechanism: Non-guided, Guided
4) By Application: Defense, Less-lethal

Major Driver - Growing Personal Safety Concerns And Expanding Shooting Ranges Drives Ammunition Market Growth
The growing personal safety concerns and increasing shooting ranges are propelling the growth of the ammunition market. 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. For instance, according to a survey commissioned in June 2021 by a nonpartisan American think tank the Pew Research Center, 44% of Republicans and Republican-leaning independents personally own a gun, compared with 20% of Democrats and Democratic leaders. 39% of the men own a gun, compared with 22% of women. In addition, 41% of adults in rural areas own a firearm, compared to about 29% of those in the suburbs and 2 in 10 in cities. The leading reason for owning a gun and firearm was personal safety or protection. Therefore, the increasing prevalence of personal safety concerns and increasing shooting ranges are expected to boost demand for ammunition during the forecast period.

Competitive Landscape:
Major companies operating in the ammunition market report are General Dynamics Corporation, Northrop Grumman Corporation, CBC Global Ammunition, Lapua Ammunition, Olin Corporation, Alliant Techsystems Inc., Vista Outdoor Inc., Ruag Ammotec, Nammo AS, Remington Arms Company, Fiocchi Munizioni S.p.A., Magpul Industries (Magpul Ammunition), Browning Ammunition, Hornady Manufacturing Company, Norma Precision AB, Nosler Inc., Black Hills Ammunition, Barnes Bullets LLC, PMC Ammunition, Dynamic Research Technologies, Underwood Ammunition, Atomic Ammunition, Buffalo Bore Ammunition, DoubleTap Ammunition, ELEY (ELEY Ammunition), Aguila Ammunition, GECO Ammunition, PolyCase Ammunition, SBR Ammunition, SIG Sauer (SIG Sauer Ammunition), Dynamic Munitions

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Top Trend - Advanced Luminescent Solutions Revolutionizing Ammunition Market Presence
Major companies operating in the ammunition market are focusing on developing advanced luminescent technology solutions to address increasing demands for enhanced visibility and accuracy in low-light environments. Advanced luminescent technology solutions encompass cutting-edge innovations utilizing light emission for various applications, from displays to medical imaging. For instance, in July 2022, AMMO Inc, a US-based provider of high-performance ammunition and components, introduced the Green Streak, a patented one-way luminous round that uses a special one-way luminescent technology to symbolize the next advancement in visible ammunition. This non-incendiary system, in contrast to earlier models, does not depend on fireworks to provide light throughout the projectile's trajectory. Rather, it uses a unique non-toxic compound that effectively flash-charges the projectile's rear by capturing the light created when gunpowder is ignited.

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

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