PUBLISHER: Grand View Research | PRODUCT CODE: 1869995
PUBLISHER: Grand View Research | PRODUCT CODE: 1869995
The global ammunition market size was estimated at USD 75.9 billion in 2024 and is projected to reach USD 28.3 billion by 2033, growing at a CAGR of -10.4% from 2025 to 2033, by rising geopolitical tensions and ongoing international conflicts, which compel nations to bolster their defense capabilities. Increased military modernization programs across various regions are pushing demand for advanced and precise ammunition types, fueling sustained market growth.
Moreover, the escalation of terrorist activities worldwide prompts defense forces to procure more effective ammunition, reinforcing the market's upward trajectory. The growing popularity of recreational shooting sports and increased civilian firearm ownership in several regions have also contributed to market expansion. Small-caliber ammunition used in rifles and pistols for sport shooting is gaining traction as more civilians participate in shooting activities. In addition, the commercial segment related to hunting and shooting sports supplements has a defense-driven demand, broadening the market base.
Another significant driver is the steady increase in global defense budgets, particularly in major markets such as North America, where military expenditure remains robust. Governments worldwide are investing heavily in traditional ammunition and researching and developing innovative ballistic technologies, including lightweight polymer-based cases and smart munition systems. These technological advancements improve ammunition performance and versatility, attracting higher procurement volumes.
Global Ammunition Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2023. For this study, Grand View Research has segmented the global ammunition market report based on caliber, application, product, and region: