The global military ammunition market is valued at $24.2 billion in 2021 and will grow at a CAGR of 2.36% to reach a value of $30.5 billion by 2031. The cumulative market for global military ammunition is anticipated to value $266.5 billion over the forecast period. The expenditure on this sector across the globe is mainly driven by the increased focus of major DoDs on peacekeeping missions, counter terrorism, regional conflicts, and anti-insurgency operations.
Most of the countries have been spending significantly on the procurement of smart munitions and precision guided weapons, which in turn has driven the demand for associated ammunition over the past few years. This trend is expected to continue over 2021-31.
Several countries, such as the US, China, Russia, the UK, Saudi Arabia, India, and Brazil, are allocating significant amounts to strengthen the capabilities of their ground forces through the procurement of small arms, howitzers, and mortars.
The global military ammunition market is expected to be led by the Asia-Pacific region, with a revenue share of 34.3%, followed by North American and European regions.
The large caliber ammunition segment is expected to hold a significant share of the global military ammunition market over 2021-31. It is projected to account for 26.8% of the market, making it the largest segment. The use of advanced weapons such as tanks, artillery systems, and mortar systems to counter various threats is leading to the increased development and utility of advanced ammunition to increase lethality, range, and accuracy.
The global military ammunition market is expected to grow at a CAGR of 2.36% over the forecast period.
The global military ammunition market is classified across seven major categories; Large Caliber Ammunition, Grenades, Rocket Ammunition, Air Dropped Bombs, Medium Caliber Ammunition, Small Caliber Ammunition, and Mines.
The global military ammunition market is expected to be led by Asia-Pacific region with a revenue share of 34.3%. Various countries are engaged in conflicts with their neighbours owing to territorial disputes and instances of terrorism. The situation is overt in the Asia-Pacific region, where rapid economic prosperity and military development have led to an arms race among China, India, Japan, South Korea, and North Korea.
Modernization initiatives, coupled with conflicts and instability among the nations, to drive demand.
Large caliber ammunition is expected to be the largest segment of the overall military ammunition market over the forecast period.
Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing military ammunition programs being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
Competitive landscape and strategic insights: Analysis of competitive landscape of the global military ammunition market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
Determine prospective investment areas based on a detailed trend analysis of the global military ammunition over the next ten years
Gain in-depth understanding about the underlying factors driving demand for different military ammunition segments in the top spending countries across the world and identify the opportunities offered by each of them
Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
Identify the major channels that are driving the global military ammunition market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military ammunition market
Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top military ammunition equipment providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Ordnance Factory Board (OFB)
Raytheon Technologies Corporation
Alliant Techsystems Operations
Black Hills Ammunition
Federal Premium Ammunition
Northrup Grumman Innovation Systems
American Ordnance LLC
Rheinmetall Denel Munition (Pty) Ltd
Rafael Advanced Defense Systems
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