Ammunition Market | Global Report, 2028
Ammunition Market Share, Size, Trends, Industry Analysis Report, 2021 - 2028

Ammunition Market Share, Size, Trends, Industry Analysis Report, By Product (Aerial Bombs, Artillery Shells, Bullets, Grenades); By Type; By Caliber; By Application; By Region; Segment Forecast, 2021 - 2028

  • Published Date:Sep-2021
  • Pages: 126
  • Format: PDF
  • Report ID: PM1201
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Outlook

The global ammunition market size was valued at USD 20.74 billion in 2020 and is expected to grow at a CAGR of 3.7% during the forecast period. The use of ammunition such as bullets, grenades, and artillery shells has increased over the years owing to growing safety concerns and rising terrorist activities.

Ammunition of different caliber such as small, medium, and large are available in the market. Rising demand for small-caliber ammunition from the military sector and pistols and revolvers has boosted the growth of small-caliber shells.

Ammunition Market Size
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The increasing military expenditure, especially in developing countries, growth in terrorism & drug trafficking, and greater need to provide safety to citizens contribute significantly to the growing adoption of ammo. Modernization of army warfare and militarization of police forces result in greater demand for ammunition.

Increasing application in sports and hunting activities coupled with greater awareness regarding self-defense has further accelerated the market growth. Rising demand from developing economies, technological advancements, and investment in research and development is expected to offer growth opportunities during the forecast period.

Ammunition Market

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Industry Dynamics

Growth Drivers
Increasing defense budgets to address security concerns has increased the demand for ammo from the defense sector. Due to the rise in numbers of terrorist organizations, countries across the globe have invested significant military spending, which is expected to grow over the coming years.

There has been an expansion in countries such as India and Saudi Arabia, with the U.S. securing the top position followed by China. The demand for ammo has increased from the law enforcement agencies, including police departments, investigating bureaus, correction departments, and others. These personnel use ammo to maintain law and address unrest in society.

The ammo market has remained stable during the COVID-19 outbreak. Even though operational challenges have impacted the market, supply chain disruption, deferred maintenance, and workforce impairment, the defense sector's demand and production have not been affected.

However, there has been an increase in the purchase of ammunition for self-defense during the pandemic. The market is expected to gain traction post-COVID-19 driven by factors such as supportive government regulations, increasing military spending, and the development of efficient ammunition.

Ammunition Market Report Scope

The market is primarily segmented on the basis of product, form, distribution channel, application, and region.

By Product

By Type

By Caliber

By Application

By Region

  • Aerial Bombs
  • Artillery Shells
  • Bullets
  • Grenades
  • Others
  • Rimfire
  • Centerfire
  • Small
    • 5.56 mm
    • 7.62 mm
      • 7.62 x 51 mm
      • 7.62 x 39 mm
      • Others
    • 9 mm
      • 9 x 18 mm
      • 9 x 19 mm
      • Others
  • Medium
    • 23 mm
    • 30 mm
    • Others
  • Large
    • 60mm
    • 81mm
    • 120m
    • 155mm
    • Others
  • Defense
  • Civil & Commercial
  • North America (U.S., Canada)
  • Europe (France, Germany, Italy, Spain, UK, Russia, Netherlands)
  • Asia Pacific (China, India, Japan, Indonesia, South Korea, Malaysia)
  • Latin America (Argentina, Brazil, Mexico)
  • Middle East & Africa (Israel, Saudi Arabia, South Africa, UAE)

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Insight by Product

The market is segmented into aerial bombs, artillery shells, bullets, grenades, and others based on product. The bullets segment accounted for a significant share in 2020. Bullets are used by law enforcement agencies and the defense sector. They are commonly used in light weapons for hunting and self-defense. However, the demand for the aerial bomb is expected to increase during the forecast period owing to the accuracy and modernization of air force weapons.

Insight by Caliber

Based on caliber, the market is segmented into small, medium, and large. The small caliber ammunition segment accounted for a significant share in 2020. Small caliber ammunition is less than 20 mm and is primarily used with small arms and some light weapons. The small caliber ammunition is used in rifles, shotgun pistols, and revolvers, among others. This ammunition is also utilized in hunting and sports activities. The demand for this ammunition has increased from the defense sector.

Insight by Application

On the basis of application, the market is segmented into defense, civil and commercial. The defense sector widely uses ammunition owing to growing terrorism and illegal trafficking across borders. Modernization of armed forces, increasing military expenditure, and increasing adoption of small arms and light weapons support the growth of this segment. Growth in military spending from emerging economies and technological advancements further boosts the growth of the segment.

Geographic Overview

North America accounted for a significant share of the global ammunition market in 2020 due to the defense sector's increasing demand. Rising terrorism, lenient gun laws, and growing safety concerns have increased the adoption of ammunition in the region. Moreover, concerns regarding self-defense, especially during the pandemic, have accelerated the growth of ammo.

Vendors in the industry are developing advanced ammo to meet the growing market demand. Well-established defense infrastructure coupled with growing demand from the sports and hunting sector has resulted in greater demand for the ammunition market in North America.

Competitive Insight

The leading players in the industry include Thales Group, Elbit Systems, Northrop Grumman Corporation, Olin Corporation, CBC Global Ammunition, Ruag Ammotec, Nexter KNDS Group, General Dynamics Corporation, BAE Systems, Rheinmetall AG, Remington Arms Company, and Ammo, Inc.

These players are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen their presence in the market. The companies are also introducing new innovative products in the market to cater to the growing consumer demands.

Report Scope

Report Attributes


Market size value in 2020

USD 20.74 billion

Revenue forecast in 2028

USD 26.91 billion


3.7% from 2021 - 2028

Base year


Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Segments covered

By Product, By Type, By Caliber, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Key Companies

Thales Group, Elbit Systems, Northrop Grumman Corporation, Olin Corporation, CBC Global Ammunition, Ruag Ammotec, Nexter KNDS Group, General Dynamics Corporation, BAE Systems, Rheinmetall AG, Remington Arms Company, and Ammo, Inc.