Analyst Viewpoint
Growing concern about geopolitical tensions and threats from terrorists is fueling the demand for ammunition and weapons equipment, which in turn is driving the global ammunition market growth. Moreover, significant rise in spending on defense and military R&D, especially by developed economies, and surge in defense budgets of emerging economies to cater to the rising demand for efficient and reliable ammunition are boosting the demand for various types of ammunition.
Analysis of the global ammunition market trends and forecast reveals the increasing emphasis on military modernization across the globe. This is estimated to create lucrative business growth opportunities for ammunition components manufacturers and suppliers worldwide. Moreover, rise in number of competitive shooting events worldwide is projected to fuel the demand for small caliber during the forecast period.
Ammunition can be defined as equipment, such as missiles, anti-personnel mines, land mines, bombs, warheads, and naval mines, which is employed in warfare or military combat. However, ammunition intended for civilian and commercial use includes firearm rounds for hunting, defense, and sporting events. Small caliber ammunition is used in assault rifles, shotgun pistols, and revolvers.
Medium caliber ammunition includes high-performance 40 mm, 30 mm, 25 mm, and 20 mm cartridges, which are used for a wide range of applications including sea, land, and air with the capacity of penetrating light armor, personnel target, and material. Rise in demand for rifles and guns from internal security forces, worldwide, is estimated to positively impact the ammunition market dynamics during the forecast period.
Increase in emphasis on range, lethality, and precision of ammunition coupled with the integration of advanced technology for guided precision ammunition is a key factor that is projected to influence the global ammunition market scenario during the forecast period.
Frequent mass shootings in the U.S. are likely to compel the government to call for stricter gun-control measures. The Federal Bureau of Investigation’s (FBI’s) National Instant Criminal background Check System (NICS) reported that February 2020, alone, witnessed more than 30% monthly rise in background checks for long guns and handguns in the U.S. Uncertainties revolving around the possession of firearms at an individual level are likely to negatively impact the ammunition market forecast in the next few years.
Increase in security concerns due to rise in geopolitical conflicts and escalation of terrorism threats is fueling defense spending in the U.S. and Europe. The conflict in Ukraine coupled with the Israel-Palestine crises has further driven the demand for the latest defense technologies. This, in turn, is propelling the global ammunition market progress.
Rise in demand for advanced weapons as well as related ammunition from Asia Pacific, Europe, and North America is also due to growing focus on modernization and replacement of aging equipment to strengthen the armed forces. Increase in number of countries participating in NATO missions is likely to boost the demand for ammunition during the forecast period.
NATO standardization is vital, as interchangeable ammunition is possible only through standardization. This is evident from various supply and safety mismatch challenges arising among nations who donated 155 mm artillery systems to help Ukraine. Thus, standardization would facilitate reliability regarding supply of ammunition.
According to research conducted by Responsive Management, in 2020, 56 million people in the U.S. went target shooting with a firearm, a 34% increase since 2009. The National Sporting Goods Association reports that more people participate in target shooting than soccer, tackle football, and baseball. The major reasons include practicing for self-protection or home defense, participating in friendly or professional competitions, honing skills and improving accuracy, and preparing for hunting season.
Since the start of 2020, more than 8 million people in the U.S. became first-time gun owners, while millions more have a strong interest in purchasing their first gun. First-timers need information on firearm safety, rules and regulations, operating firearms and where to go for training. Moreover, trap shooting is one of the fastest growing high school sports in the U.S. 34 states are currently part of the USA High School Clay Target League, which began in 2001. These factors are estimated to drive the demand for ammunition in the next few years.
North America held the largest ammunition market share in 2022. The U.S. alone spent around US$ 766 Bn on national defense, or 3% of its GDP, in 2022. The largest share of around 38% of this spending was on operation and maintenance of the forces. Around 14%, or US$ 107 Bn, was spend on R&D of weapons.
According to the Stockholm International Peace Research Institute (SIPRI), defense spending by the U.S. accounted for nearly 40% of military expenditures by countries around the world in 2022. U.S. defense spending increased by US$ 71 Bn from 2021 to 2022, in part due to a military aid sent to support Ukraine in its ongoing conflict. Furthermore, the U.S., currently, spends more on defense than the next 10 countries combined (up from outspending the next 9 countries combined in 2021). This is projected to drive the ammunition market size in North America in the next few years.
The terror attacks in Israel and the resulting crises has grabbed global attention even as the conflict in Ukraine continues with no signs of closure. However, further escalation of the Israel and Gaza crisis could lead to a rise in defense spending across Europe and could benefit aerospace and defense industries in the region.
The global ammunition industry is highly consolidated with a few manufacturers accounting for majority share. These players are expanding their presence across various geographies and entering new markets in developing regions. A few of the prominent companies operating in the global market are Companhia Brasileira de Cartuchos, Nammo A.S., Nexter Group, Orbital ATK, Inc., Prvi Partizan A.D., Rheinmetall AG, and RUAG Group.
Key players in the global ammunition market report have been profiled based on various parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 (Base Year) | US$ 19.4 Bn |
| Market Forecast Value in 2031 | US$ 28.9 Bn |
| Growth Rate (CAGR) | 4.8% |
| Forecast Period | 2023-2031 |
| Quantitative Units | US$ Bn for Value and Million Units for Volume |
| Market Analysis | Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Regions Covered |
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| Market Segmentation |
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| Companies Profiled |
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| Scope for Customization | Available upon Request |
| Pricing | Available upon Request |
The global market was valued at US$ 19.4 Bn in 2022
It is projected to grow at a CAGR of 4.8% from 2023 to 2031
Rise in security concerns and surge in number of participants in competitive shooting events
In terms of application, the military segment held largest share in 2022
North America is estimated to dominate the global business in the next few years
Companhia Brasileira de Cartuchos, Nammo A.S., Nexter Group, Orbital ATK, Inc., Prvi Partizan A.D., Rheinmetall AG, and RUAG Group
1. Preface
1.1. Market and Segments Definition
1.2. Market Taxonomy
1.3. Research Methodology
1.4. Assumption and Acronyms
2. Executive Summary
2.1. Global Ammunition Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Framework
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview – Industry Automation Overview
4.2. Ecosystem Analysis
4.3. Pricing Analysis
4.4. Technology Roadmap Analysis
4.5. Industry SWOT Analysis
4.6. Porter Five Forces Analysis
5. Global Ammunition Market Analysis, by Type
5.1. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
5.1.1. Full Metal Jacket (FMJ) Ammunition
5.1.2. Tracer Ammunition
5.1.3. Incendiary Ammunition
5.1.4. Armor Piercing Ammunition
5.1.5. Other Ammunition
5.2. Market Attractiveness Analysis, by Type
6. Global Ammunition Market Analysis, by Ammunition
6.1. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
6.1.1. Small Ammunition
6.1.2. Medium Ammunition
6.1.3. Mortar Ammunition
6.1.4. Artillery Ammunition
6.1.5. Shotgun Shells
6.2. Market Attractiveness Analysis, by Ammunition
7. Global Ammunition Market Analysis, by Application
7.1. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
7.1.1. Military
7.1.2. Commercial
7.1.3. Law Enforcement
7.2. Market Attractiveness Analysis, by Application
8. Global Ammunition Market Analysis and Forecast, by Region
8.1. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Region, 2023–2031
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
8.2. Market Attractiveness Analysis, by Region
9. North America Ammunition Market Analysis and Forecast
9.1. Market Snapshot
9.2. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
9.2.1. Full Metal Jacket (FMJ) Ammunition
9.2.2. Tracer Ammunition
9.2.3. Incendiary Ammunition
9.2.4. Armor Piercing Ammunition
9.2.5. Other Ammunition
9.3. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
9.3.1. Small Ammunition
9.3.2. Medium Ammunition
9.3.3. Mortar Ammunition
9.3.4. Artillery Ammunition
9.3.5. Shotgun Shells
9.4. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
9.4.1. Military
9.4.2. Commercial
9.4.3. Law Enforcement
9.5. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Country and Sub-region, 2023–2031
9.5.1. U.S.
9.5.2. Canada
9.5.3. Rest of North America
9.6. Market Attractiveness Analysis
9.6.1. By Type
9.6.2. By Ammunition
9.6.3. By Application
9.6.4. By Country/Sub-region
10. Europe Ammunition Market Analysis and Forecast
10.1. Market Snapshot
10.2. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
10.2.1. Full Metal Jacket (FMJ) Ammunition
10.2.2. Tracer Ammunition
10.2.3. Incendiary Ammunition
10.2.4. Armor Piercing Ammunition
10.2.5. Other Ammunition
10.3. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
10.3.1. Small Ammunition
10.3.2. Medium Ammunition
10.3.3. Mortar Ammunition
10.3.4. Artillery Ammunition
10.3.5. Shotgun Shells
10.4. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
10.4.1. Military
10.4.2. Commercial
10.4.3. Law Enforcement
10.5. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Country and Sub-region, 2023–2031
10.5.1. U.K.
10.5.2. Germany
10.5.3. France
10.5.4. Rest of Europe
10.6. Market Attractiveness Analysis
10.6.1. By Type
10.6.2. By Ammunition
10.6.3. By Application
10.6.4. By Country/Sub-region
11. Asia Pacific Ammunition Market Analysis and Forecast
11.1. Market Snapshot
11.2. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
11.2.1. Full Metal Jacket (FMJ) Ammunition
11.2.2. Tracer Ammunition
11.2.3. Incendiary Ammunition
11.2.4. Armor Piercing Ammunition
11.2.5. Other Ammunition
11.3. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
11.3.1. Small Ammunition
11.3.2. Medium Ammunition
11.3.3. Mortar Ammunition
11.3.4. Artillery Ammunition
11.3.5. Shotgun Shells
11.4. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
11.4.1. Military
11.4.2. Commercial
11.4.3. Law Enforcement
11.5. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Country and Sub-region, 2023–2031
11.5.1. China
11.5.2. Japan
11.5.3. India
11.5.4. South Korea
11.5.5. ASEAN
11.5.6. Rest of Asia Pacific
11.6. Market Attractiveness Analysis
11.6.1. By Type
11.6.2. By Ammunition
11.6.3. By Application
11.6.4. By Country/Sub-region
12. Middle East & Africa Ammunition Market Analysis and Forecast
12.1. Market Snapshot
12.2. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
12.2.1. Full Metal Jacket (FMJ) Ammunition
12.2.2. Tracer Ammunition
12.2.3. Incendiary Ammunition
12.2.4. Armor Piercing Ammunition
12.2.5. Other Ammunition
12.3. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
12.3.1. Small Ammunition
12.3.2. Medium Ammunition
12.3.3. Mortar Ammunition
12.3.4. Artillery Ammunition
12.3.5. Shotgun Shells
12.4. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
12.4.1. Military
12.4.2. Commercial
12.4.3. Law Enforcement
12.5. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Country and Sub-region, 2023–2031
12.5.1. GCC
12.5.2. South Africa
12.5.3. Rest of Middle East & Africa
12.6. Market Attractiveness Analysis
12.6.1. By Type
12.6.2. By Ammunition
12.6.3. By Application
12.6.4. By Country/Sub-region
13. South America Ammunition Market Analysis and Forecast
13.1. Market Snapshot
13.2. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Type, 2023–2031
13.2.1. Full Metal Jacket (FMJ) Ammunition
13.2.2. Tracer Ammunition
13.2.3. Incendiary Ammunition
13.2.4. Armor Piercing Ammunition
13.2.5. Other Ammunition
13.3. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Ammunition, 2023–2031
13.3.1. Small Ammunition
13.3.2. Medium Ammunition
13.3.3. Mortar Ammunition
13.3.4. Artillery Ammunition
13.3.5. Shotgun Shells
13.4. Ammunition Market Size (US$ Bn) Analysis & Forecast, by Application, 2023–2031
13.4.1. Military
13.4.2. Commercial
13.4.3. Law Enforcement
13.5. Ammunition Market Size (US$ Bn) and Volume (Billion Units) Analysis & Forecast, by Country and Sub-region, 2023–2031
13.5.1. Brazil
13.5.2. Rest of South America
13.6. Market Attractiveness Analysis
13.6.1. By Type
13.6.2. By Ammunition
13.6.3. By Application
13.6.4. By Country/Sub-region
14. Competition Assessment
14.1. Global Ammunition Market Competition Matrix - a Dashboard View
14.1.1. Global Ammunition Market Company Share Analysis, by Value (2022)
14.1.2. Technological Differentiator
15. Company Profiles (Global Manufacturers/Suppliers)
15.1. Companhia Brasileira de Cartuchos
15.1.1. Overview
15.1.2. Product Portfolio
15.1.3. Sales Footprint
15.1.4. Key Subsidiaries or Distributors
15.1.5. Strategy and Recent Developments
15.1.6. Key Financials
15.2. BAE Systems
15.2.1. Overview
15.2.2. Product Portfolio
15.2.3. Sales Footprint
15.2.4. Key Subsidiaries or Distributors
15.2.5. Strategy and Recent Developments
15.2.6. Key Financials
15.3. Fiocchi Munizioni
15.3.1. Overview
15.3.2. Product Portfolio
15.3.3. Sales Footprint
15.3.4. Key Subsidiaries or Distributors
15.3.5. Strategy and Recent Developments
15.3.6. Key Financials
15.4. General Dynamics Corporation
15.4.1. Overview
15.4.2. Product Portfolio
15.4.3. Sales Footprint
15.4.4. Key Subsidiaries or Distributors
15.4.5. Strategy and Recent Developments
15.4.6. Key Financials
15.5. Hornady Manufacturing Company, Inc.
15.5.1. Overview
15.5.2. Product Portfolio
15.5.3. Sales Footprint
15.5.4. Key Subsidiaries or Distributors
15.5.5. Strategy and Recent Developments
15.5.6. Key Financials
15.6. Nammo A.S.
15.6.1. Overview
15.6.2. Product Portfolio
15.6.3. Sales Footprint
15.6.4. Key Subsidiaries or Distributors
15.6.5. Strategy and Recent Developments
15.6.6. Key Financials
15.7. Nexter Group
15.7.1. Overview
15.7.2. Product Portfolio
15.7.3. Sales Footprint
15.7.4. Key Subsidiaries or Distributors
15.7.5. Strategy and Recent Developments
15.7.6. Key Financials
15.8. Orbital ATK
15.8.1. Overview
15.8.2. Product Portfolio
15.8.3. Sales Footprint
15.8.4. Key Subsidiaries or Distributors
15.8.5. Strategy and Recent Developments
15.8.6. Key Financials
15.9. Prvi Partizan A.D.
15.9.1. Overview
15.9.2. Product Portfolio
15.9.3. Sales Footprint
15.9.4. Key Subsidiaries or Distributors
15.9.5. Strategy and Recent Developments
15.9.6. Key Financials
15.10. Rheinmetall AG
15.10.1. Overview
15.10.2. Product Portfolio
15.10.3. Sales Footprint
15.10.4. Key Subsidiaries or Distributors
15.10.5. Strategy and Recent Developments
15.10.6. Key Financials
15.11. RUAG Group
15.11.1. Overview
15.11.2. Product Portfolio
15.11.3. Sales Footprint
15.11.4. Key Subsidiaries or Distributors
15.11.5. Strategy and Recent Developments
15.11.6. Key Financials
16. Go to Market Strategy
16.1. Identification of Potential Market Spaces
16.2. Preferred Sales & Marketing Strategy
List of Tables
Table 1: Global Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 2: Global Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 3: Global Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 4: Global Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 5: Global Ammunition Market Value (US$ Bn) & Forecast, by Region, 2023–2031
Table 6: Global Ammunition Market Volume (Billion Units) & Forecast, by Region, 2023–2031
Table 7: North America Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 8: North America Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 9: North America Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 10: North America Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 11: North America Ammunition Market Value (US$ Bn) & Forecast, by Country and Sub-region, 2023–2031
Table 12: North America Ammunition Market Volume (Billion Units) & Forecast, by Country and Sub-region, 2023–2031
Table 13: Europe Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 14: Europe Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 15: Europe Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 16: Europe Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 17: Europe Ammunition Market Value (US$ Bn) & Forecast, by Country and Sub-region, 2023–2031
Table 18: Europe Ammunition Market Volume (Billion Units) & Forecast, by Country and Sub-region, 2023–2031
Table 19: Asia Pacific Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 20: Asia Pacific Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 21: Asia Pacific Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 22: Asia Pacific Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 23: Asia Pacific Ammunition Market Value (US$ Bn) & Forecast, by Country and Sub-region, 2023–2031
Table 24: Asia Pacific Ammunition Market Volume (Billion Units) & Forecast, by Country and Sub-region, 2023–2031
Table 25: Middle East and Africa Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 26: Middle East and Africa Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 27: Middle East and Africa Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 28: Middle East and Africa Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 29: Middle East and Africa Ammunition Market Value (US$ Bn) & Forecast, by Country and Sub-region, 2023–2031
Table 30: Middle East and Africa Ammunition Market Volume (Billion Units) & Forecast, by Country and Sub-region, 2023–2031
Table 31: South America Ammunition Market Value (US$ Bn) & Forecast, by Type, 2023–2031
Table 32: South America Ammunition Market Volume (Billion Units) & Forecast, by Type, 2023–2031
Table 33: South America Ammunition Market Value (US$ Bn) & Forecast, by Ammunition, 2023–2031
Table 34: South America Ammunition Market Value (US$ Bn) & Forecast, by Application, 2023–2031
Table 35: South America Ammunition Market Value (US$ Bn) & Forecast, by Country and Sub-region, 2023–2031
Table 36: South America Ammunition Market Volume (Billion Units) & Forecast, by Country and Sub-region, 2023–2031
List of Figures
Figure 01: Supply Chain Analysis - Global Ammunition
Figure 02: Porter Five Forces Analysis - Global Ammunition
Figure 03: Technology Road Map - Global Ammunition
Figure 04: Global Ammunition Market, Value (US$ Bn), 2023–2031
Figure 05: Global Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 06: Global Ammunition Market Projections by Type, Value (US$ Bn), 2023–2031
Figure 07: Global Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 08: Global Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 09: Global Ammunition Market Projections by Ammunition, Value (US$ Bn), 2023–2031
Figure 10: Global Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 11: Global Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 12: Global Ammunition Market Projections by Application, Value (US$ Bn), 2023–2031
Figure 13: Global Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 14: Global Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 15: Global Ammunition Market Projections by Region, Value (US$ Bn), 2023–2031
Figure 16: Global Ammunition Market, Incremental Opportunity, by Region, 2023‒2031
Figure 17: Global Ammunition Market Share Analysis, by Region, 2023 and 2031
Figure 18: North America Ammunition Market Size & Forecast, Value (US$ Bn), 2023–2031
Figure 19: North America Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 20: North America Ammunition Market Projections by Type Value (US$ Bn), 2023–2031
Figure 21: North America Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 22: North America Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 23: North America Ammunition Market Projections by Ammunition (US$ Bn), 2023–2031
Figure 24: North America Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 25: North America Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 26: North America Ammunition Market Projections by Application Value (US$ Bn), 2023–2031
Figure 27: North America Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 28: North America Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 29: North America Ammunition Market Projections by Country and sub-region, Value (US$ Bn), 2023–2031
Figure 30: North America Ammunition Market, Incremental Opportunity, by Country and sub-region, 2023‒2031
Figure 31: North America Ammunition Market Share Analysis, by Country and sub-region 2023 and 2031
Figure 32: Europe Ammunition Market Size & Forecast, Value (US$ Bn), 2023–2031
Figure 33: Europe Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 34: Europe Ammunition Market Projections by Type Value (US$ Bn), 2023–2031
Figure 35: Europe Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 36: Europe Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 37: Europe Ammunition Market Projections by Ammunition, Value (US$ Bn), 2023–2031
Figure 38: Europe Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 39: Europe Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 40: Europe Ammunition Market Projections by Application, Value (US$ Bn), 2023–2031
Figure 41: Europe Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 42: Europe Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 43: Europe Ammunition Market Projections by Country and sub-region, Value (US$ Bn), 2023–2031
Figure 44: Europe Ammunition Market, Incremental Opportunity, by Country and sub-region, 2023‒2031
Figure 45: Europe Ammunition Market Share Analysis, by Country and sub-region 2023 and 2031
Figure 46: Asia Pacific Ammunition Market Size & Forecast, Value (US$ Bn), 2023–2031
Figure 47: Asia Pacific Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 48: Asia Pacific Ammunition Market Projections by Type Value (US$ Bn), 2023–2031
Figure 49: Asia Pacific Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 50: Asia Pacific Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 51: Asia Pacific Ammunition Market Projections by Ammunition, Value (US$ Bn), 2023–2031
Figure 52: Asia Pacific Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 53: Asia Pacific Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 54: Asia Pacific Ammunition Market Projections by Application, Value (US$ Bn), 2023–2031
Figure 55: Asia Pacific Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 56: Asia Pacific Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 57: Asia Pacific Ammunition Market Projections by Country and sub-region, Value (US$ Bn), 2023–2031
Figure 58: Asia Pacific Ammunition Market, Incremental Opportunity, by Country and sub-region, 2023‒2031
Figure 59: Asia Pacific Ammunition Market Share Analysis, by Country and sub-region 2023 and 2031
Figure 60: MEA Ammunition Market Size & Forecast, Value (US$ Bn), 2023–2031
Figure 61: MEA Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 62: MEA Ammunition Market Projections by Type Value (US$ Bn), 2023–2031
Figure 63: MEA Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 64: MEA Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 65: MEA Ammunition Market Projections by Ammunition, Value (US$ Bn), 2023–2031
Figure 66: MEA Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 67: MEA Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 68: MEA Ammunition Market Projections by Application Value (US$ Bn), 2023–2031
Figure 69: MEA Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 70: MEA Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 71: MEA Ammunition Market Projections by Country and sub-region, Value (US$ Bn), 2023–2031
Figure 72: MEA Ammunition Market, Incremental Opportunity, by Country and sub-region, 2023‒2031
Figure 73: MEA Ammunition Market Share Analysis, by Country and sub-region 2023 and 2031
Figure 74: South America Ammunition Market Size & Forecast, Value (US$ Bn), 2023–2031
Figure 75: South America Ammunition Market Size & Forecast, Y-O-Y, Value (US$ Bn), 2023–2031
Figure 76: South America Ammunition Market Projections by Type Value (US$ Bn), 2023–2031
Figure 77: South America Ammunition Market, Incremental Opportunity, by Type, 2023‒2031
Figure 78: South America Ammunition Market Share Analysis, by Type, 2023 and 2031
Figure 79: South America Ammunition Market Projections by Ammunition, Value (US$ Bn), 2023–2031
Figure 80: South America Ammunition Market, Incremental Opportunity, by Ammunition, 2023‒2031
Figure 81: South America Ammunition Market Share Analysis, by Ammunition, 2023 and 2031
Figure 82: South America Ammunition Market Projections by Application Value (US$ Bn), 2023–2031
Figure 83: South America Ammunition Market, Incremental Opportunity, by Application, 2023‒2031
Figure 84: South America Ammunition Market Share Analysis, by Application, 2023 and 2031
Figure 85: South America Ammunition Market Projections by Country and sub-region, Value (US$ Bn), 2023–2031
Figure 86: South America Ammunition Market, Incremental Opportunity, by Country and sub-region, 2023‒2031
Figure 87: South America Ammunition Market Share Analysis, by Country and sub-region 2023 and 2031
Figure 88: Global Ammunition Market Competition
Figure 89: Global Ammunition Market Company Share Analysis
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Ammunition Market
*86 figures and 60 tables includes