Ammunition Market By Product (Bullets, Mortars, Rockets), By End-use (Civil [Law Enforcement, Self-Defense, Sports & Hunting], Defense) and Segment Forecasts, 2013 - 2024Report

Ammunition Market By Product (Bullets, Mortars, Rockets), By End-use (Civil [Law Enforcement, Self-Defense, Sports & Hunting], Defense) and Segment Forecasts, 2013 - 2024

Published: December 2016  |  74 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-183-2

Industry Insights

The global ammunition market size was estimated at USD 11.74 billion in 2015 and is expected to witness significant growth over the next eight years on account of growing security concerns resulted by the rise in terrorist organizations and activities. In the recent years, arms race has been witnessed among nations including China, India and Pakistan which is further expected to propel the market demand.

Ammunition market is categorized into product segment that mainly include bullets, mortars, rockets. End-users in this market include civil and defense. Unfavorable geopolitical conditions coupled with increasing tension across borders is leading to the increased stacking of weapons and ammunitions.

U.S. ammunition market, by product, 2013 - 2024 (USD Million)

U.S. ammunition market

According to the recent stats published by Stockholm International Peace Research Institute (SIPRI) the U.S., China Saudi Arabia and Russia were the major countries having maximum expenditure on weapons and ammunition. The U.S. accounted for 36% of the global expenditure on weapons, followed by China with a share of 13%.

Ammunition market trends mainly include the increase in demand for hunting & sports activities. Bullet product segment accounted for the highest market share in 2015. The U.S. is one of the largest exporters of arms and ammunition in the world. The U.S. arms & ammunition industry is a commercialized sector and a key element in the U.S. economy. The U.S. ranks first when it comes to research & development, innovation, and manufacturing of arms and ammunition.

Product Insights

Bullets were estimated as the largest product segment in 2015 accounting for 53.9% of the global ammunition market. This segment mainly comprises of small caliber bullets that are used in civil end-uses. Civil end-use consumes various firearms including revolvers, pistols, shotguns, and rifles.

Rise in private end-users for personal security, in emerging economies has boosted the market demand. Others products such as rockets and mortars are preferred in the defense and military sector. Rise in terrorism is the key factor for increasing procurement of ammunition globally.

End-use Insights

Civil was the most prominent segment in 2015 and accounted for 74.5% of the global revenue share. This segment is expected to witness significant growth owing to high expected growth from hunting & sports activities over the forecast period. Civil segment includes law enforcement, self-defense and sports & hunting.

Outdoor recreational activity is a huge business in North America, especially in the U.S. A recent survey conducted by the U.S. Fish and Wildlife Services; Americans spend around USD 50 billion on sports and hunting. All these factors contribute to the overall growth of the ammunition market.

Regional Insights

Asia Pacific dominated the global ammunition market in 2015 and is projected to continue its domination by 2024, growing at a CAGR of 4.5% over the forecast period. Rising terrorist activities in the region, especially in countries such as India is leading towards strengthening the overall defense system of the country. In March 2016, India signed a contract worth USD 15.0 billion to buy rockets and other ammunition.

Global ammunition market revenue, by region, 2015 (%)

Global ammunition market

Europe was estimated as the second largest market in 2015. Manufacturing of small arms and ammunition is a major industry in Europe owing to which it has retained its position as the key ammunition exporter in the world. Major countries in Europe include France, Russia Germany and UK.

Competitive Insights

The global ammunition industry has continuously witnessed merger and acquisitions by the major players to ensure competitiveness and profitability and establish a strong foothold in the market.

The market is fragmented in nature with a large number of market players present in North America and Europe.

Key players in this market include General Dynamics Corporation, BAE Systems, Remington Arms Company, Inc., Ruag Ammotec, Poongsan Corporation, Federal Premium Ammunition and Maxam. In 2012, BAE systems partnered with General Dynamics Ordnance and tactical systems to manufacture 81mm Roll Controlled Guided Mortar (RCGM).

Report Scope

Attributes

Details

Base year for estimation

2015

Actual /Historic data

2013–2015

Forecast period

2016–2024

Market representation                                

Revenue in USD Million and CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA)

Country scope

U.S., Russia, UK, France, China, India, India, Brazil, Cuba, Saudi Arabia, and Israel

Report coverage          

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope

(equivalent to 5 analyst working days)

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Segments covered in the report

This report forecasts revenue growth at global, regional and country level and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global ammunition market on the basis of product, end-use, and region.

  • Product Outlook (Revenue, USD Million, 2013 - 2024)

    • Bullets

    • Mortars

    • Rockets

    • Others

  • End-use Outlook (Revenue, USD Million, 2013 - 2024)

    • Civil

      • Law Enforcement

      • Sports & Hunting

      • Self-Defense

    • Defense 

  • Regional Outlook (Revenue, USD Million, 2013 - 2024)

    • North America

      • U.S

    • Europe

      • Russia

      • UK

      • France

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Cuba

    • Middle East and Africa

      • Saudi Arabia

      • Israel

Key questions answered by the report
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