Ammunition Market Size To Reach $28.3 Billion By 2033

Ammunition Market Growth & Trends

The global ammunition market size is estimated to reach USD 28.3 billion by 2033, registering to grow at a CAGR of -10.4% from 2025 to 2033, according to a new report by Grand View Research, Inc. Increasing investments in defense equipment by militaries on account of the rise in geopolitical tension across the globe are anticipated to drive the demand for ammunition in the estimated time. Increasing procurement of artillery and mortar platforms by the Indian Army over the next ten years through several development platforms is expected to increase the amount of ammunition over the forecast period. In addition, a rise in hostilities is expected to increase the demand for ammunition in Middle Eastern countries in the projected time frame.

Technological innovations for the replacement of brass-based bullet cases using polymer-based bullet cases are expected to offer growth prospects to the market. The application of polymer materials in bullets reduces ammo weight by over 40%, wherein the impact of the same is unaffected, thereby making ammunition lighter and more accurate when compared to conventional bullets. Rising geopolitical issues, war-like situations, and increasing terrorist activities across the globe are leading to a rise in the stockpiling of ammunition by prominent militaries and armed forces. This strategy is likely to offer cost savings as ammunition is purchased in high volume at cheap prices. This is anticipated to support the market growth in the estimated time.

Hunting in the European Union has led to an accumulation legacy of lead discharged from spent ammunition. This lead exhibits harmful toxic effects on wildlife, the environment, and humans who consume hunted game meat. Thus, non-toxic lead substitutes for both shotgun and rifle ammunition have been developed and required in some jurisdictions of the European Union. In the European Union, more than 25 companies manufacture or distribute lead-free shotgun ammunition, and a further 14 companies distribute lead-free rifle ammunition. However, the wide transition in terms of using lead-free ammo has been resisted by ammunition-making and hunting communities in the region.

 Request a free sample copy or view report summary: Ammunition Market Report

Ammunition Market Report Highlights

• Large caliber ammunition dominated the market with a revenue share of 51.3% in 2024. Large caliber can be classified into spin-stabilized, fin-stabilized, and rocket-assisted. Rocket assisted is a combination of spin-stabilized and fin-stabilized. A majority of guns use the spin-stabilized large-caliber cartridge as it promotes flight stability using spinning. In contrast, fin-stabilized projectiles obtain stability through fins located at the end of the projection period.

• The centerfire small ammunition products segment led the market in 2024. Centerfire is usually used for rifles, shotguns, and handguns. In centerfire ammunition, primer is placed in center of casing base. This type of ammunition is reloadable and, hence, is the most commonly used cartridge type.

• The defense segment dominated the market and accounted for the largest revenue share of 66.8% in 2024, driven by heightened geopolitical tensions and increased defense spending worldwide.

• The  Europe market held a dominant revenue share of 47.0% in 2024. In Europe, directives are provided by the government for the possession of firearms, the supply of firearms in a single market, and a protocol against manufacturing and trafficking of firearms. In addition, European defense system has faced challenges in dealing with refugees from Middle East and Syria. Europe has also faced the threat of terrorism. Owing to these factors, market for ammunition in Europe is expected to strengthen over the forecast period.

• The market is highly competitive and consists of several global and regional players. Prominent players are utilizing their design and engineering expertise to develop products with improved utility, safety, and effectiveness. These companies are acquiring research & development firms to integrate advanced technologies into existing products, thereby enhancing the force capability of defense customers such as the U.S. Army and NATO.

Ammunition Market Segmentation

Grand View Research has segmented the global ammunition market based on caliber, application, product, and region:

Ammunition Caliber Outlook (Revenue, USD Million, 2021 - 2033)

• Small Caliber

  • 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 Caliber

  • 23 mm

  • 30 mm

  • Others

• Large Caliber

  • Tank Ammunition

  • Artillery Ammunition

• Rockets, Missiles and Other

  • VSHORAD

  • 122 mm

  • Others

Ammunition Application Outlook (Revenue, USD Million, 2021 - 2033)

• Civil & Commercial

  • Sports

  • Hunting

  • Self Defense

• Defense

  • Military

  • Law Enforcement

Ammunition Product Outlook (Revenue, USD Million, 2021 - 2033)

• Rimfire

• Centerfire

Ammunition Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Russia

  • Spain

  • Turkey

  • Czech Republic

  • Poland

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Singapore

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • UAE

  • Saudi Arabia

List of Key Players in the Ammunition Market

• Ammo Inc.

• Arsenal JSCo.

• BAE Systems PLC

• CBC Global Ammunition

• Denel SOC Ltd.

• Hanwha Corporation

• Hornady Manufacturing, Inc.

• Leonardo S.p.A.

• Nammo AS.