Global Ammunition Market: Projected Growth and Key Trends in light of Increasing Defense Expenditure

Expected to Grow to $30.29 Billion in 2025 at a CAGR of 6.5%

What Is The Projected Market Size Of The Global Ammunition Market And Its Growth Rate?
The ammunition market is experiencing significant growth.
• The market size will grow from $28.43 billion in 2024 to $30.29 billion in 2025, at a CAGR of 6.5%.
• Growth drivers during this period include military modernization, global defense budgets, increased terrorism threats, weapon system upgrades, regional security concerns, and law enforcement needs.
• The ammunition market size will further grow and is projected to reach $40.31 billion in 2029, at a CAGR of 7.4%.
• In the forecast period, market growth can be attributed to modern warfare requirements, counterterrorism operations, cybersecurity concerns, global arms trade, civil unrest and public safety.

What Is Driving The Growth In The Ammunition Market?
Increased defense expenditure is fueling the ammunition market. Governments are dedicating a larger portion of their budgets to maintain and enhance national defense and military capabilities. Defense expenditure for ammunition supports the purchase, development, and maintenance of munitions for military training, operations, and combat readiness. For example, in the 2023/24 financial year, the UK allocated £54.2 billion (approximately $66.4 billion) to defense spending, expected to rise to £57.1 billion (around $69.4 billion) in 2024/25.

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Who Are the Key Players Driving Ammunition Market Growth?
Major players in the ammunition market include:
• General Dynamics Corporation
• Northrop Grumman Corporation
• CBC Global Ammunition
• Lapua Ammunition
• Olin Corporation
• Alliant Techsystems Inc.
• Vista Outdoor Inc.
• Ruag Ammotec
• Nammo AS

What Are The Key Trends In The Ammunition Market?
Key trends in the ammunition market include:
• Non-lethal ammunition
• Propellant and casing technologies
• Sustainable practices in ammunition manufacturing
• Miniaturization of ammunition
• Enhanced training ammunition

What Are The Segments Of The Global Ammunition Market?
The global ammunition market segments are:
• Product: Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars
• Caliber: Small, Medium, Large, Other Calibers
• Guidance Mechanism: Non-guided, Guided
• Application: Defense, Less-lethal

Which Region Leads The Ammunition Market?
North America was the largest region in the ammunition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

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What Is Covered In The Ammunition Market Global Market Report?
- Market Size Analysis: Analyze the Ammunition Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ammunition Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ammunition Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ammunition Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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