The global ammunition market attained a value of USD 28.82 Billion in 2025. The industry is expected to grow at a CAGR of 3.60% during the forecast period of 2026-2035. By 2035, the market is expected to reach USD 41.05 Billion.
With rising geopolitical tensions and spikes in violence within countries and on national borders, there is a growing demand for the ammunition market. Multiple nations are proactively expanding their arms caches, with extended ammunition stocks to prepare in case of any sudden violent outbreak that requires the use of firearms. As per industry reports, The United States is preparing to offer Saudi Arabia an arms deal exceeding USD 100 billion, qualifying it as one of the largest military agreements of the current administration and a continuation of the deep defence ties between the two nations.
Key manufacturers have made large expenditures in R&D projects, which presents opportunities for market expansion. Neighboring countries continue to take proactive steps by investing in defense infrastructure and enhancing their capacities to defend their borders as states demonstrate their military might to protect their sovereignty. In an effort to boost its defense sector, the European Union Commission set aside USD 537.2 million as of March 2024 to increase ammunition production.
The growing security concerns and the increasing efforts by various governments to provide enhanced safety to their citizens are enlarging the ammunition market size. The market is being driven by the rising demand for ammunition in the defence sector owing to factors like the increasing international conflicts and increasing terrorism. Over the forecast period, the favourable government initiatives and the increasing focus of emerging nations to enhance their military capabilities are expected to favour the market growth. Furthermore, the modernisation of weapons such as rifles, handguns, machine guns, and others will require more ammunition than usual, which is likely to strengthen the market.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
3.6%
Value in USD Billion
2026-2035
*this image is indicative*
| Global Ammunition Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 28.82 |
| Market Size 2035 | USD Billion | 41.05 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 3.60% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 4.1% |
| CAGR 2026-2035 - Market by Country | India | 4.8% |
| CAGR 2026-2035 - Market by Country | China | 4.0% |
| CAGR 2026-2035 - Market by Calibre | Rockets and Missiles | 4.2% |
| CAGR 2026-2035 - Market by Application | Defence | 3.9% |
| Market Share by Country 2025 | France | 3.1% |
Countries worldwide are significantly increasing their defense budgets to modernize military capabilities. For instance, in 2022, Germany announced a €100 billion special fund for its Bundeswehr, leading to substantial investments in ammunition production and procurement. Similarly, the United States has awarded contracts to companies like Textron Systems and General Dynamics to manufacture advanced ammunition, including 6.8mm bullets, to enhance military readiness.
The development of smart munitions and precision-guided systems is revolutionizing the ammunition sector. These innovations enhance accuracy and reduce collateral damage, making them increasingly preferred in modern warfare. For example, Rheinmetall has invested in producing 155mm artillery shells and is establishing a new plant in Lithuania to meet the growing demand for such advanced ammunition.
Ongoing conflicts and geopolitical tensions are driving the demand for ammunition. The war in Ukraine has highlighted the need for increased ammunition supplies, prompting NATO countries to bolster their stockpiles. In response, nations like Germany have ramped up production and collaborated with international partners to ensure a steady supply of essential munitions.
The civilian sector's demand for ammunition is rising, fueled by increased interest in recreational shooting, hunting, and self-defense. In the United States, for example, the demand for small-caliber ammunition has surged, leading to higher production rates and expanded distribution networks to meet consumer needs.
Manufacturers are under increasing pressure to develop environmentally friendly ammunition due to regulatory concerns over lead-based projectiles. In response, companies are investing in research and development to create lead-free and biodegradable alternatives, aiming to comply with environmental standards and reduce ecological impact.
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The EMR’s report titled “Global Ammunition Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
The ammunition market segmentation based on calibre is:
Key Insight: Small calibre ammunition continues to be widely used due to its dominant role in civil, law enforcement, and military sectors. It’s essential for rifles and handguns, especially in defence training, border patrol, and sporting uses, keeping demand relatively stable across both developed and emerging regions.
On the basis of product type, the market can be segmented into:
Key Insight: Rimfire ammunition holds a notable position in the civilian segment of the global ammunition market, primarily due to its affordability, ease of use, and relatively low recoil. This type of ammunition is commonly chambered in smaller calibers, such as .22 Long Rifle, which makes it ideal for target practice, basic firearm training, plinking, and small-game hunting. These characteristics have made rimfire cartridges especially popular among novice shooters, hobbyists, and shooting sports enthusiasts.
The significant applications of the product include:
Key Insight: The defence sector accounted for the largest portion in the ammunition industry market share owing to an increase in ammunition procurement by the armed forces or border security forces. This can be attributed to the rising cross-border conflicts, tensions between sovereign nations, increasing terrorism, and rising safety concerns. Over the forecast period, a significant increase in government spending by sovereign nations to enhance their military capabilities is expected to further fuel the demand for ammunition, leading to a greater ammo market size.
Based on region, the market can be divided into:
Key Insight: North America accounted for a significant share in the ammunition industry. The growing US ammunition market size, owing to a substantial increase in military expenditure, rapid technological advancements in the defence sector, and rising safety concerns are expanding the ammunition market share US further. The United States is one of the leading countries in the world in terms of defence capabilities. Over the forecast period, the increasing efforts by the US government to combat terrorism and ensure the safety of its citizens is expected to add to the ammo market value in this region in the forecast period. The increasing ownership of personal weapons across countries such as the United States, are further expanding the commercial ammunition market.
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Strategic Importance of Medium and Large Calibre Ammunition in Modern Warfare
Medium calibre rounds, typically ranging from 20mm to 40mm, are essential for automatic cannons, infantry fighting vehicles, and aircraft guns. These munitions play a strategic role in short- to mid-range engagements, offering a balance between firepower, accuracy, and rate of fire. Their utility has grown in recent years due to the shift towards asymmetric warfare and urban combat scenarios, where mobility and precision are critical.
Large calibre ammunition, typically above 105mm, is central to heavy-duty platforms like main battle tanks, naval deck guns, and long-range artillery systems. These rounds are designed for high-impact, destructive strikes and remain a backbone for high-intensity, state-on-state warfare. With increasing geopolitical tensions, especially in Eastern Europe following the Russia-Ukraine conflict, NATO member states and neighboring countries are accelerating investments in artillery modernization and ammunition stockpiling.
Centrefire Ammunition Dominates Military Law Enforcement and Civilian Use
Centrefire ammunition holds a dominant position in the global ammunition market due to its superior performance, broader applicability, and technical advantages over rimfire alternatives. It is widely used in high-powered firearms across military, law enforcement, and civilian sectors, particularly in rifles, shotguns, and handguns. This type of ammunition features a primer located at the center of the cartridge base, which provides more reliable ignition and supports higher-pressure loads—critical in professional-grade environments where precision, consistency, and power are essential.
Rising Demand in the Civil and Commercial Ammunition Segment
The civil and commercial segment of the ammunition market—encompassing hunting, shooting sports, and private security—is witnessing steady growth across regions with strong civilian firearm ownership laws. In the United States, this segment is especially dominant, supported by a long-standing gun culture, widespread private ownership, and legal frameworks that permit civilian access to firearms and ammunition. In Europe, countries like Germany, France, and the Czech Republic are seeing a similar, albeit more regulated, rise in civilian ammunition use. Sport shooting is gaining popularity as a competitive and leisure activity, with local clubs and national associations promoting responsible gun use.
Emerging Ammunition Markets in Asia Pacific, Latin America and Middle East and Africa
The Asia Pacific ammunition market is gaining momentum due to a combination of geopolitical instability, rising defense budgets, and a focus on self-reliance in military production. Countries such as India and China are leading with major investments in modernizing their armed forces, expanding local manufacturing capacities, and boosting procurement of both small-caliber and heavy ammunition. In India, the “Make in India” initiative has encouraged private sector participation in defense production, while the Defence Acquisition Procedure (DAP) promotes indigenous sourcing of ammunition. State-run manufacturers like Ammunition Factory Khadki and Ordnance Factory Board (OFB), along with emerging private players, are supplying the Indian armed forces and export markets. Additionally, border tensions with China and Pakistan continue to keep demand high.
| CAGR 2026-2035 - Market by | Country |
| India | 4.8% |
| China | 4.0% |
| USA | 3.1% |
| Germany | 3.0% |
| France | 2.8% |
| Canada | XX% |
| UK | XX% |
| Italy | XX% |
| Japan | 2.5% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Latin America, though a smaller market, is witnessing rising demand from law enforcement and paramilitary forces, especially in Brazil and Mexico. The Middle East and Africa also present untapped opportunities due to ongoing conflicts, counterterrorism efforts, and increasing defense budgets, particularly in countries like Saudi Arabia, UAE, and South Africa. These emerging regions are expected to gain market share as security concerns and national defense agendas push governments to strengthen their arsenals.
Key players in the global ammunition market are expanding production capacities and investing in advanced technologies to meet rising demand. They are focusing on enhancing manufacturing efficiency, developing precision-guided munitions, and securing long-term contracts with defense agencies. These efforts aim to strengthen their market positions and address the evolving needs of modern warfare.
Additionally, companies are exploring opportunities in emerging markets and forming strategic partnerships to diversify their portfolios. By leveraging innovation and adapting to geopolitical shifts, these firms are positioning themselves to capitalize on growth prospects and maintain competitiveness in the global arena.
Ammo, Inc., now operating as Outdoor Holding Company, specializes in designing and manufacturing high-quality ammunition for the sporting industry. The company offers innovative products like STREAK Visual Ammunition and Stelth Subsonic rounds. It also owns GunBroker.com, an online marketplace for firearms and accessories, enhancing its reach in the civilian market.
BAE Systems is a leading defense contractor providing a wide range of munitions, including small arms and artillery shells. The company has advanced its ammunition supply chain through continuous flow processing methods, improving efficiency and safety. BAE Systems also manages key ammunition plants and has secured significant contracts to support defense operations.
General Dynamics Corporation is a global aerospace and defense company offering combat vehicles, munitions, and weapons systems. Operating through segments like Combat Systems and Marine Systems, the company provides innovative solutions to military services worldwide. Its comprehensive portfolio supports various defense needs, from ground combat to naval operations.
Northrop Grumman is an aerospace and defense technology company specializing in advanced weapons and ammunition. With over 36 years of innovation, it offers medium-caliber ammunition designed for accuracy and reliability. The company's expertise spans the full product lifecycle, from design to autonomous production, supporting U.S. military and allied forces.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the ammunition market are Hanwha Corporation, Thales Group, Elbit Systems Ltd., Raytheon Technologies Corporation, Lockheed Martin Corporation, Nammo AS, Saab AB, Vista Outdoor Inc., Singapore Technologies Engineering Ltd, CBC Global Ammunition, KMW+Nexter Defense Systems N.V., Leonardo S.p.A., The Boeing Company, Olin Corporation, Herstal Group, Fiocchi Munizioni S.p.A., Prvi Partizan A.D., Hornady Manufacturing Company, Ceska zbrojovka a.s., Nosler Inc, and ARSENAL JSCo, among others.
Unlock the latest insights with our Global Ammunition Market Report 2026-2035. Learn about key market trends, segment growth, and regional performance. Download a free sample to explore detailed data and expert forecasts. For tailored consultation or questions, connect with our analysts today. Stay ahead in the market with trusted intelligence on Global Ammunition Market Trends 2026.
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In 2025, the market reached an approximate value of USD 28.82 Billion.
The market is projected to grow at a CAGR of 3.60% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach a value of USD 41.05 Billion by 2035.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Small calibre, medium calibre, large calibre, and rocket and missiles, among others are the major calibre types of the product.
Rimfire and centrefire are the different product types in the industry.
Civil and commercial, and defence, among others are the significant applications of the product.
The key players in the market report include Ammo, Inc., BAE Systems, General Dynamics Corp., Northrop Grumman Corporation, Hanwha Corporation, Thales Group, Elbit Systems Ltd., Raytheon Technologies Corporation, Lockheed Martin Corporation, Nammo AS, Saab AB, Vista Outdoor Inc., Singapore Technologies Engineering Ltd, CBC Global Ammunition, KMW+Nexter Defense Systems N.V., Leonardo S.p.A., The Boeing Company, Olin Corporation, Herstal Group, Fiocchi Munizioni S.p.A., Prvi Partizan A.D., Hornady Manufacturing Company, Ceska zbrojovka a.s., Nosler Inc, and ARSENAL JSCo, among others.
The defence sector dominates the industry owing to an increase in ammunition procurement by the armed forces or border security forces.
Key strategies driving the market include investing in smart and eco-friendly munitions, securing long-term government contracts, expanding production capacity, strengthening raw material supply chains, and adopting automation. Manufacturers are also pursuing geographic expansion, research & development in next-gen calibres, and strategic alliances to meet rising defence and law enforcement demands globally.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Calibre |
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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