Ammunition Market Scope And Analysis

  • Report Code : TIPRE00004778
  • Category : Aerospace and Defense
  • Status : Published
  • No. of Pages : 280
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Ammunition Market Scope, Growth, Size and Share by 2028

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Ammunition Market Report Ammunition Market Size and Share Ammunition Market Scope and Analysis

Ammunition Market Report Scope

Report Attribute Details
Market size in 2022 US$ 43.04 Billion
Market Size by 2028 US$ 69.75 Billion
Global CAGR (2022 - 2028) 8.4%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Product
  • Bullets
  • Aerial Bombs
  • Grenades
  • Artillery Shells
  • Mortars
By Application
  • Defense and Commercial
By Guidance
  • Guided and Non-Guided
By Lethality
  • Non-Lethal and Lethal
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Northrop Grumman Corporation
  • BAE Systems
  • Elbit Systems Ltd
  • Raytheon Technologies Corporation
  • Vista Outdoor Operations LLC
  • AMTEC Corporation
  • NAMMO AS
  • Rheinmetall AG
  • RUAG Group

    • Guidance Insights – Ammunitions Market

    Based on guidance, the Ammunition Market is bifurcated into guided and non-guided. The guided segment is expected to dominate the Ammunition Market in 2022, and it is also projected to retain its dominance during the forecast period as well. The growth of the guided ammunitions segment is attributed to huge demand for precision guided missiles and large adoption of guided mortar systems. Advancements in positioning system technologies, such as semi-active lasers, radar homing, inertial navigation systems (INS), and global positioning systems (GPS), are favoring the guided Ammunition Market growth. In addition, the compatibility of the positioning system with the missile's nuclear warhead is likely to boost its inclusion in ammunition. For instance, in May 2022, EMCORE Corporation received its first order to provide multiple SDI170 MEMS inertial measurement units (IMUs) for precision-guided ammunition by a major international weapons system manufacturer. In November 2021, HALCON, a part of the EDGE Group that is a leading manufacturer and supplier of precision-guided weapons, received a contract worth US$ 880 million from the UAE Armed Forces for its Thunder and Desert Sting range of precision-guided munitions.

    The Ammunition Market is highly fragmented due to the presence of large number of Ammunition Market players across the world. Thales Group, Raytheon Technologies, Elbit Systems Ltd., Northrop Grumman Corporation, and BAE Systems are among the prominent Ammunition Market players operating worldwide. The top five players account for ~25% of the total market, wherein the other 3 quarters of the market has been acquired by more than 300 vendors.

    The Ammunition Market players are witnessing a rise in demand for across several commercial as well as defense applications. Therefore, many companies focus on expanding their product offerings to private and public end users. For this, they are partnering with different companies to develop sustainable solutions for the public and private sectors.

    • In May 2022, Nammo signed a contract with the Swedish Defence Materiel Administration (FMV) to be the sole supplier of 12.7mm ammunitions to Swedish armed forces until 2029.
    • In March 2022, the defense ministry of Saudi Arabia inked 23 contracts for US$ 3.4 billion with local and international enterprises. During the same period, the Saudi Arabian Military Industries (SAMI) also signed 5 contracts for US$ 1.6 billion to purchase military vehicles, ammunition, and communication devices.