Ammunition Market Innovations in Technology and Product Development
The global ammunition market , valued at USD 68.57 billion in 2023, is projected to decline to USD 36.75 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of -11.3% from 2024 to 2030. Increased procurement of defense equipment by global militaries—driven by a rise in terrorist activities and hostilities—is expected to positively impact the industry over the forecast period. Simultaneously, the rising popularity of sports and shooting activities involving rifles and pistols is anticipated to boost the penetration of small-caliber ammunition. Technological advancements, such as the introduction of lightweight bullets made from polymer-based cases, also support overall industry development. In the U.S., high government investments in the enhancement of military and armed forces are expected to support market growth. Furthermore, the procurement of small caliber ammunition by civilians and the Department of Homeland Security (DHS), along with the enhancement of ...