Major Growth Driver Identified in 2025 Ammunition Market: Increased Defense Expenditure Fuels Growth In The Ammunition Market h

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What Is the Expected CAGR for the Ammunition Market Through 2025?
The size of the ammunition market has seen substantial growth in the last few years. The market is predicted to rise from $28.43 billion in 2024 to $30.29 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.5%. The significant growth observed in the historic period can be traced back to factors such as modernization of military apparatus, increase in global defense budgets, rising threats of terrorism, system upgrades in weapons, regional security issues, and the growing needs of law enforcement.

What's the Projected Size of the Global Ammunition Market by 2029?
The size of the ammunition market is anticipated to experience significant expansion in the coming years, reaching a valuation of $40.31 billion in 2029, representing a compound annual growth rate (CAGR) of 7.4%. This growth during the projection period can be ascribed to the requirements of modern warfare, counterterrorism activities, issues related to cybersecurity, worldwide arms commerce, civil disturbances, and public safety considerations. Major trends predicted during this period entail the use of non-lethal ammunition, advancements in propellant and casing technologies, implementation of sustainable procedures in ammunition production, ammunition miniaturisation, and improved training ammunition.

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Top Growth Drivers in the Ammunition Industry: What's Accelerating the Market?
The upward trajectory of the ammunition market is anticipated to be fueled by an increase in defense spending. This refers to the government's budget set aside for the bolstering and upkeep of its national defense and military strength. Factors contributing to the surge in defense expenditure include escalating geopolitical conflicts, the push for military updates, expanding counter-terrorism endeavors, and the advent of fresh security challenges such as cybersecurity and space defense. The provision for ammunition in the defense expenditures covers the purchase, innovation, and upkeep of arms to facilitate military training, operations, and preparedness for combat. For instance, the UK Parliament, a governing authority based in the UK, allocated £54.2 billion (approximately $66.4 billion) towards defense in the 2023/24 fiscal year, according to information released in May 2024. This allocation is projected to experience a 4.5% increase in real terms, reaching £57.1 billion (around $69.4 billion) in 2024/25. As a consequence, the rise in defense expenditure is propelling the growth of the ammunition market.

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What Trends Will Shape the Ammunition Market Through 2029 and Beyond?
Development initiatives focused on sophisticated ammunition is a prevailing trend in the ammunition market currently. Major market players and stakeholders are shifting their concentration towards research and development to promote the evolution of ammunition. Rising episodes of international armed conflicts have urged numerous nations to augment their military prowess via the acquisition of state-of-the-art ammunition and equipment. Consequently, defense spending on the procurement of ammunition and research and development activities have seen a substantial rise globally over recent years. An example is when The Adani Group, a multifaceted conglomerate based in India operating in multiple sectors, launched India's inaugural private sector ammunition and missile manufacturing unit in Kanpur, Uttar Pradesh in February 2024. Intended to boost security and economic expansion, the complex endeavors to manufacture superior small, medium, and large caliber ammunition, catering to approximately 25% of India's annual demand.

What Are the Main Segments in the Ammunition Market?
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

Subsegments:
1) By Bullets: Centerfire Bullets, Rimfire Bullets, Hollow Point Bullets, Full Metal Jacket Bullets, Tracer Bullets
2) By Aerial Bombs: Guided Bombs, Unguided Bombs, Cluster Bombs, Incendiary Bombs
3) By Grenades: Fragmentation Grenades, Smoke Grenades, Stun Grenades, Tear Gas Grenades
4) By Artillery Shells: High-Explosive Shells, Guided Artillery Shells, Smoke Shells, Illuminating Shells
5) By Mortars: Mortar Bombs, Illumination Mortar Shells, Smoke Mortar Shells, High-Explosive Mortar Shells

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Which Top Companies are Driving Growth in the Ammunition Market?
Major companies operating 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, 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

Which Regions Will Dominate the Ammunition Market Through 2029?
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. The regions covered in the ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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