The ammunition market in North America is expected to grow from US$ 14,420.06 million in 2022 to US$ 23,144.92 million by 2028. It is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
The rise in military expenditure is one of the major factors that is promoting the procurement of ammunition and guns worldwide. For instance, according to the SIPRI data, the US spent ~US$ 734 billion, US$ 778 billion, and US$ 800 billion in its military expenditure in 2019, 2020, and 2021, respectively. The sudden increase in demand for ammunition since 2020 is also driving the ammunition market growth. The firearm & ammunition industry witnessed huge increase from 2020 to 2021, according to several defense sources that have increased the procurement of ammunition. Moreover, commercial applications such as hunting and other shooting sports have witnessed a rise in demand for ammunition and firearms, which is catalyzing the ammunition industry.
The North America ammunition market, by product type, is segmented into bullets, aerial bombs, grenades, artillery shells, mortars, and others. In 2021, the aerial bombs segment dominated market.
The ammunition market by application is segmented into defense and commercial. In 2021, the defense segment dominated the North America ammunition market.
The North America ammunition market, by guidance, is segmented into guided and non-guided. In 2021, the guided segment held a larger market share in 2021.
The North America ammunition market by lethality is segmented into non-lethal and lethal. In 2021, the lethal segment held a larger market share in 2021.
The North America ammunition market, by caliber, is segmented into small caliber ammunitions, medium caliber ammunitions, and large caliber ammunitions. In 2021, the large caliber ammunitions segment held the largest market share in 2021.
The rise in military expenditure is one of the major factors that is promoting the procurement of ammunition and guns worldwide. For instance, according to the SIPRI data, the US spent ~US$ 734 billion, US$ 778 billion, and US$ 800 billion in its military expenditure in 2019, 2020, and 2021, respectively. The sudden increase in demand for ammunition since 2020 is also driving the ammunition market growth. The firearm & ammunition industry witnessed huge increase from 2020 to 2021, according to several defense sources that have increased the procurement of ammunition. Moreover, commercial applications such as hunting and other shooting sports have witnessed a rise in demand for ammunition and firearms, which is catalyzing the ammunition industry.
Market Overview
- Based on country, the North America ammunition market is segmented into the US, Canada, and Mexico. The growing threat from terrorism and lenient gun laws are expected to promote the usage of bullets in the region. Over the years, according to the data published by Stockholm International Peace Research Institute (SIPRI), the US recorded an increase in military expenses, from US$ 801.68 billion in 2020 to US$ 827.12 billion in 2021. The increase in military expenditure by North American countries influences the growth of the North American ammunition market.
North America Ammunition Market Segmentation
The North America ammunition market is segmented into product, application, guidance, lethality, caliber, and country.The North America ammunition market, by product type, is segmented into bullets, aerial bombs, grenades, artillery shells, mortars, and others. In 2021, the aerial bombs segment dominated market.
The ammunition market by application is segmented into defense and commercial. In 2021, the defense segment dominated the North America ammunition market.
The North America ammunition market, by guidance, is segmented into guided and non-guided. In 2021, the guided segment held a larger market share in 2021.
The North America ammunition market by lethality is segmented into non-lethal and lethal. In 2021, the lethal segment held a larger market share in 2021.
The North America ammunition market, by caliber, is segmented into small caliber ammunitions, medium caliber ammunitions, and large caliber ammunitions. In 2021, the large caliber ammunitions segment held the largest market share in 2021.
- Based on country, the market is segmented into the US, Canada, and Mexico. The Us dominated the market in 2021. AMTEC Corporation, BAE Systems, Elbit Systems Ltd, NAMMO AS, Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, RUAG Group, Thales Group, and Vista Outdoor Operations LLC are the leading companies operating in the ammunition market in the region.
Table of Contents
1. Introduction
3. Research Methodology
4. North America Ammunition Market Landscape
5. North America Ammunition Market - Key Market Dynamics
6. Ammunition Market - North America Analysis
7. North America Ammunition Market Analysis - by Product
8. North America Ammunition Market Analysis - by Application
9. North America Ammunition Market Analysis - by Guidance
10. North America Ammunition Market Analysis - by Lethality
11. North America Ammunition Market Analysis - by Caliber
12. North America Ammunition Market - Country Analysis
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
- Amtec Corporation
- Bae Systems
- Elbit Systems Ltd
- Nammo As
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Rheinmetall Ag
- Ruag Group
- Thales Group
- Vista Outdoor Operations Llc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 181 |
| Published | November 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( $ | $ 14420.06 Million |
| Forecasted Market Value ( $ | $ 23144.92 Million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
