Ammunition Market to Reach USD 31.7 Billion By 2031, Top Impacting Factors

The global ammunition industry generated $22 billion in 2021 and is projected to reach $31.7 billion by 2031, witnessing a CAGR of 3.9% from 2022 to 2031.

WILMINGTON, DE, UNITED STATES, November 4, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Ammunition Market by Product Type (Centrefire, RimFire), by Caliber Size (Small, Medium, Large, Others), by Application (Defense, Civil and commercial): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global ammunition industry generated $22 billion in 2021 and is projected to reach $31.7 billion by 2031, witnessing a CAGR of 3.9% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/request-sample/10025

Drivers, restraints, and opportunities:

The global ammunition market is being driven by a variety of factors including an increase in demand for firearms and ammunition for purposes such as self-defense, hunting, sports shooting, military and law enforcement operations. Additionally, there is a surge in government spending on defense operations, an uptick in demand within the military and defense sector due to geopolitical tensions, and advancements in technology and changes in military strategies. The growth of the ammunition market is hindered by various factors such as the limited availability of raw materials, as well as government regulations that impose strict licensing requirements and restrict the types of ammunition that can be sold. Furthermore, advancements in smart ammunition technology offer potential opportunities by enabling remote tracking and control of ammunition, thereby reducing the risks of unintended discharge or unauthorized use. These developments are expected to create new avenues for growth in the ammunition industry in the future.

Based on application, the defense segment held the highest market share in 2021, accounting for more than two-thirds of the global ammunition market revenue and is estimated to maintain its leadership status throughout the forecast period. The growth of the segment is driven by rising threat of terrorist activities, modernization programs in the defense forces across the globe for strengthening the armed forces to deal with border issues with nations and counter terrorism operations. On the other hand, the civil and commercial segment is projected to manifest the highest CAGR of 4.4% from 2022 to 2031. This is due to the utilization of ammunition in the commercial sector like sports (shooting) and in private corporations for protection purposes.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/ammunition-market/purchase-options

The centrefire segment to maintain its dominance throughout the forecast period

On the basis of product type, the centrefire segment accounted for the largest share in 2021, contributing to nearly two-thirds of the global ammunition market revenue, and is projected to rule the roost in terms of revenue during the forecast period. The centrefire ammunition is majorly used in the shotguns, handguns, and rifles. The centrefire bullets are reloadable and reusable, also it comes in larger, more powerful cartridges as compared to rimfire bullets. Moreover, the rimfire segment is expected to portray the largest CAGR of 4.2% from 2022 to 2031. The growth is attributed to its low manufacturing cost as compared to the centrefire ammunition. Also, the rimfire ammunition is lighter and produces low noise as compared to centrefire ammunition.

The small segment to rule the roost throughout the forecast timeframe

Based on caliber size, the small segment contributed to the major share in 2021, holding nearly two-fifths of the global ammunition market revenue and is likely to dominate the market during the forecast period. Also, the same segment would portray the fastest CAGR of 4.4% during the forecast period. The growth is attributed to the diverse application of small caliber ammunition in shotgun pistols, rifles, assault rifles, and resolvers by military and homeland personnel globally, due to less lethality of this ammunition for countering armed conflicts.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global ammunition market revenue and is likely to dominate the market during the forecast period. The North American region is the hub of most developed and established framework of security in the commercial and public sectors. The major countries in the North America region like the USA and Canada are having high expenditure for the internal security of their countries. However, the Asia- Pacific region is expected to witness the fastest CAGR of 5.1% from 2022 to 2031. The rising military expenditure by the major countries in the region for upgradation of their armed forces is projected to increase the demand of ammunition market in the Asia-Pacific region.

Leading Market Players:
General Dynamics Corporation
BAE Systems
RUAG
Vista Outdoor Inc.
Northrop Grumman
Olin Corporation
Nammo AS
Nexter
Rheinmetall and Hornady Manufacturing Company Inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐰𝐢𝐭𝐡 𝐀𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 & 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/10025

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

Based on product type, the centrefire sub-segment emerged as the global leader in 2021 and rimfire sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
Based on caliber size, the small sub-segment emerged as the global leader in 2021, and this sub-segment is predicted to show the fastest growth in the upcoming years.
Based on application, the defense sub-segment emerged as the global leader in 2021 and the civil & commercial sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ammunition market analysis from 2021 to 2031 to identify the prevailing ammunition market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the ammunition market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global ammunition market trends, key players, market segments, application areas, and market growth strategies.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐓𝐨𝐛𝐚𝐜𝐜𝐨 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/tobacco-market-A11180
𝐁𝐞𝐚𝐜𝐡 𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/beach-hotels-market
𝐁𝐞𝐚𝐫𝐝 𝐓𝐫𝐢𝐦𝐦𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/beard-trimmer-market-A16870

David Correa
Allied Market Research
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