Ammunition Market Analysis

Ammunition Market Analysis

The global ammunition market sales from mortar products will record more than 5% gains through 2030 owing to a rising number of cross-border conflicts in regions such as Europe and the MEA. The product offers various benefits for military personnel including portability, easy maneuverability, and the ability to be used from trenches.

Considerable spending to reinforce naval and ground defense forces across the world will influence the manufacturing of artillery products. In 2022, the UK government announced that it has increased its naval budget to nearly USD 45.9 billion, which is a notable change compared to the previous budget. Reportedly, the funding will be directed toward enhancing the navy’s lethality, fleet availability, and developing a more high-tech force. The move represents a substantial potential for artillery and large-caliber ammunition demand to fortify sea and air defense systems.

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Based on ammunition sales statistics, the civil application is predicted to surpass USD 19 billion by 2030 with increased spending on public security and the growing use of guns for recreational activities. Smaller firearms witness considerable sales in countries such as the U.S., Canada, and Brazil, among others. In North America, gun ranges and shooting sports are quite common. Government agencies allow people to hunt and shoot on designated lands, keeping public safety in mind. High expenditure on local law enforcement agencies will further strengthen small caliber ammunition demand.

In terms of regional performance, the Asia Pacific ammunition market size is expected to witness growth rate of more than 5.5% up to 2030. Prominent industry drivers include growing defense budgets in countries such as China, India, and Japan. Nations are also aiming to improve their military capabilities through transformative programs to address civil & cross-border tensions. For instance, India, Japan & Australia are part of the Quad Group with the U.S. being the fourth member. These countries are collaborating to develop their technical expertise and improve their strategic advantages.