Ammunition Market Size to Hit US$ 34.6 Billion by 2032 | Grow CAGR by 3.62%
Ammunition Market Size to Hit US$ 34.6 Billion by 2032 | Grow CAGR by 3.62%
SHERIDAN, WYOMING, UNITED STATES, June 26, 2024 /EINPresswire.com/ -- IMARC Group's report titled "๐๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐ (๐๐ฎ๐ฅ๐ฅ๐๐ญ๐ฌ, ๐๐๐ซ๐ข๐๐ฅ ๐๐จ๐ฆ๐๐ฌ, ๐๐ซ๐๐ง๐๐๐๐ฌ, ๐๐จ๐ซ๐ญ๐๐ซ๐ฌ, ๐๐ซ๐ญ๐ข๐ฅ๐ฅ๐๐ซ๐ฒ ๐๐ก๐๐ฅ๐ฅ๐ฌ, ๐๐ง๐ ๐๐ญ๐ก๐๐ซ๐ฌ), ๐๐๐ฅ๐ข๐๐๐ซ (๐๐ฆ๐๐ฅ๐ฅ, ๐๐๐๐ข๐ฎ๐ฆ, ๐๐๐ซ๐ ๐), ๐๐ฎ๐ข๐๐๐ง๐๐ (๐๐ฎ๐ข๐๐๐, ๐๐จ๐ง-๐๐ฎ๐ข๐๐๐), ๐๐๐ญ๐ก๐๐ฅ๐ข๐ญ๐ฒ (๐๐๐ฌ๐ฌ-๐๐๐ญ๐ก๐๐ฅ, ๐๐๐ญ๐ก๐๐ฅ), ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง (๐๐๐๐๐ง๐ฌ๐, ๐๐ข๐ฏ๐ข๐ฅ ๐๐ง๐ ๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ข๐๐ฅ), ๐๐ง๐ ๐๐๐ ๐ข๐จ๐ง ๐๐๐๐-๐๐๐๐". The global ammunition market size reached US$ 24.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
๐๐ซ๐๐ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/ammunition-market/requestsample
๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐๐๐๐๐ญ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐ญ๐ก๐ ๐๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
โ ๐๐ง๐๐ซ๐๐๐ฌ๐ข๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐๐๐ง๐ฌ๐ ๐๐ฑ๐ฉ๐๐ง๐๐ข๐ญ๐ฎ๐ซ๐:
The rising global defense expenditure is impelling the growth of the market. Many countries are increasing their defense budgets in response to geopolitical tensions, regional conflicts, and the need to modernize their armed forces. This trend is particularly evident where nations are either expanding their military capabilities or replacing outdated equipment. This increase in defense spending is catalyzing the demand for ammunition across various segments, including small arms, artillery, and naval weaponry. The modernization programs often involve not only the procurement of new weapons systems but also substantial stocks of compatible ammunition. Additionally, the ongoing need for training and preparedness ensures a steady consumption of ammunition.
โ ๐๐ข๐ฌ๐ข๐ง๐ ๐๐ข๐ฏ๐ข๐ฅ๐ข๐๐ง ๐๐ฐ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐๐ง๐ ๐๐ฌ๐ ๐จ๐ ๐ ๐ข๐ซ๐๐๐ซ๐ฆ๐ฌ:
The growing civilian ownership and use of firearms is propelling the market growth. In several countries, there is a noticeable increase in the number of individuals purchasing firearms for personal protection, recreational shooting, and hunting. The rise in firearm sales, often leads by concerns over personal safety and changing regulatory landscapes, directly drives the demand for ammunition. Recreational activities, such as shooting sports and hunting also contribute significantly to ammunition needs. Furthermore, as more individuals engage in these activities, the need for specialized and high-performance ammunition is growing. Manufacturers are responding by producing a wide range of ammunition types to cater to varied civilian needs, from self-defense rounds to precision hunting cartridges.
โ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐ง๐ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง๐ฌ:
Ongoing advancements and innovations in ammunition design and manufacturing are pivotal factors supporting the market growth. The development of more effective, reliable, and specialized ammunition is opening new avenues. Modern ammunition incorporates advanced materials, improved ballistics, and enhanced lethality, meeting the evolving needs of both military and civilian users. Moreover, advancements in propellant chemistry are leading to the creation of ammunition that offers greater range and accuracy. Apart from this, the development of smart munitions, which can be guided to their targets with high precision, represents a significant leap in technology. Manufacturers are also investing in research and development (R&D) to create next-generation ammunition that can outperform traditional types.
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
โ Ammo Inc.
โ Arsenal 2000 AD
โ BAE Systems PLC
โ CBC Ammo LLC
โ Denel SOC Ltd
โ Hanwha Corporation
โ Herstal Group
โ Hornady Manufacturing Company
โ Nammo AS
โ Nexter group KNDS
โ Northrop Grumman Corporation
โ Nosler Inc.
โ Remington Outdoor Company Inc
โ Rheinmetall AG
โ Sierra Bullets (Clarus Corporation)
๐๐ฌ๐ค ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/request?type=report&id=7558&flag=C
๐๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ:
โ Bullets
โ Aerial Bombs
โ Grenades
โ Mortars
โ Artillery Shells
โ Others
Bullets exhibit a clear dominance due to their widespread use in specific combat scenarios and improvements in aerodynamic advancements.
๐๐ฒ ๐๐๐ฅ๐ข๐๐๐ซ:
โ Small
โ Medium
โ Large
Small represents the largest segment as it is lightweight, portable, and suitable for a wide range of applications like personal defense.
๐๐ฒ ๐๐ฎ๐ข๐๐๐ง๐๐:
โ Guided
โ Non-Guided
Non-guided holds the biggest market share, owing to its usage for standard military and civilian purposes.
๐๐ฒ ๐๐๐ญ๐ก๐๐ฅ๐ข๐ญ๐ฒ:
โ Less-Lethal
โ Lethal
Lethal accounts for the majority of the market share. It ensures the intended target is incapacitated with a greater degree of certainty.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง:
โ Defense
โ Military
โ Homeland Security
โ Civil and Commercial
โ Sporting
โ Hunting
โ Self-Defense
โ Others
Defense represents the largest segment, driven by the rising investments in military and defense sectors to improve operations and maintain border security.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
โ North America (United States, Canada)
โ Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
โ Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
โ Latin America (Brazil, Mexico, Others)
โ Middle East and Africa
North America dominates the market attributed to the growing adoption of advanced ammunition systems in the military and defense sector.
๐๐ฅ๐จ๐๐๐ฅ ๐๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ:
The increasing demand for ammunition from law enforcement and security agencies is bolstering the market growth. As urbanization and population density rise, so do the challenges associated with maintaining public safety and order. Governments around the world are investing more in their police forces and private security firms to address these challenges. Law enforcement agencies require a constant supply of ammunition for various purposes, including training, routine patrol duties, and special operations. The need for diverse types of ammunition, from non-lethal options for crowd control to high-caliber rounds for tactical operations, ensures a steady and varied demand. Moreover, the threat of terrorism, organized crime, and civil unrest is leading to an increased emphasis on tactical readiness and the acquisition of advanced ammunition to equip security personnel adequately. This focus on security preparedness drives continuous procurement and replenishment of ammunition stocks.
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐๐๐๐ ๐๐ซ๐จ๐ฎ๐ฉ:
๐๐จ๐ฎ๐ฅ๐ญ๐ซ๐ฒ ๐ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ: https://www.imarcgroup.com/poultry-feed-market
๐ ๐ข๐ซ๐ ๐๐๐๐๐ญ๐ฒ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.imarcgroup.com/fire-safety-equipment-market
๐๐ง๐ฅ๐ข๐ง๐ ๐๐จ๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ: https://www.imarcgroup.com/online-lottery-market
๐๐ง๐ญ๐๐ซ๐ข๐จ๐ซ ๐๐๐ฌ๐ข๐ ๐ง ๐๐จ๐๐ญ๐ฐ๐๐ซ๐ ๐๐๐ซ๐ค๐๐ญ: https://www.imarcgroup.com/interior-design-software-market
๐๐-๐๐ ๐๐จ๐ง๐ฏ๐๐ซ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ: https://www.imarcgroup.com/dc-dc-converter-market
๐๐จ๐ญ๐: ๐๐ ๐ฒ๐จ๐ฎ ๐ง๐๐๐ ๐ฌ๐ฉ๐๐๐ข๐๐ข๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐ญ๐ก๐๐ญ ๐ข๐ฌ ๐ง๐จ๐ญ ๐๐ฎ๐ซ๐ซ๐๐ง๐ญ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก๐ข๐ง ๐ญ๐ก๐ ๐ฌ๐๐จ๐ฉ๐ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ, ๐ฐ๐ ๐ฐ๐ข๐ฅ๐ฅ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ ๐ข๐ญ ๐ญ๐จ ๐ฒ๐จ๐ฎ ๐๐ฌ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง.
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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