Smokeless Powder Market Report 2025

The smokeless powder market size has grown steadily in recent years. It will grow from $2.56 billion in 2024 to $2.67 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increasing use in hunting and sport shooting, rising popularity of recreational shooting, improved ballistic performance of smokeless powder, and growth in private security services.

The smokeless powder market size is expected to see steady growth in the next few years. It will grow to $3.11 billion in 2029 at a compound annual growth rate (CAGR) of 3.9%. Factors driving future growth include the rising demand for ammunition in the defense and military sectors, increases in global military budgets, growth in civilian firearm ownership, the worldwide expansion of law enforcement bodies, and the continued transition from traditional black powder to smokeless powder. Notable trends expected during the forecast period include a focus on developing eco-friendly and non-toxic powder variants, the creation of specialized powders for various calibers, incorporation of advanced technologies in manufacturing for enhanced quality control, customized ammunition offerings, and innovations aimed at reducing powder size and weight.

The increasing military expenditure is anticipated to fuel the growth of the smokeless powder market in the coming years. Military spending represents the total funds a nation dedicates to maintaining and advancing its defense capabilities. Growing geopolitical tensions drive countries to boost their military budgets to enhance defense readiness amid regional disputes and global power struggles. This increase in defense funding fuels demand for smokeless powder, essential for manufacturing advanced ammunition that offers better performance and less visibility on the battlefield. For instance, in April 2025, according to the Stockholm International Peace Research Institute, a Sweden-based international institute, global military spending reached 2.71 trillion dollars in 2024, showing a 9.4% increase in real terms compared to the previous year. Therefore, the increasing military expenditure will boost the growth of the smokeless powder market.

Leading companies in the smokeless powder market are concentrating on innovations in smokeless propellants to enhance energy performance. These advanced materials used in firearms generate minimal smoke upon ignition, providing a clear tactical advantage over traditional gunpowder. For example, in January 2023, Hodgdon Powder Company, a U.S.-based propellant manufacturer, introduced Winchester StaBALL HD, a high-performance smokeless propellant. This product maintains its stability in both hot and cold temperatures and includes eco-friendly compounds that reduce copper fouling in barrels. These features allow for longer shooting sessions without cleaning. Being a high-density, double-base powder, it enables velocity increases ranging from 30 to 200 feet per second compared to other powders in the same category. It is specially formulated for use in large-capacity magnum cartridges and targeted at users who reload their ammunition.

In March 2025, Makine ve Kimya Endustrisi (MKE), a defense company headquartered in Turkey, collaborated with ATS Group to establish a gunpowder production facility in North Macedonia. This partnership is set to deepen bilateral defense industry ties and expand regional production capabilities. The agreement also involves knowledge sharing and joint investment initiatives to support the local defense sector. ATS Group is based in France and specializes in manufacturing smokeless powder.

Major players in the smokeless powder market are General Dynamics Corporation, BAE Systems plc, Rheinmetall AG, Poongsan Corporation, MAXAM Corp Holding SL, Norma Precision AB, RUAG Ammotec GmbH, Eurenco S.A.S., Forcit Oy, Goex Powder, The Kinetic Group LLC, Nitrochemie AG, Hodgdon Powder Company Inc., Western Powders Inc., Nobel Sport S.A., Theales Australia Limited, Nammo Vihtavuori Oy, IMR Powder Company, Winchester Smokeless Powders, Lovex Powder.

North America was the largest region in the smokeless powder market in 2024. The regions covered in smokeless powder report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smokeless powder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

Smokeless powder is a type of propellant utilized in firearms and ammunition, known for producing significantly less smoke than conventional black powder during combustion. Primarily made of nitrocellulose and sometimes combined with nitroglycerin, it is engineered to deliver more efficient burning, greater energy release, and cleaner firearm operation. Due to its enhanced performance and reduced barrel fouling, smokeless powder has largely replaced black powder in both military and civilian uses.

There are three main classifications of smokeless powder: single base, double base, and triple base. Single base smokeless powder consists predominantly of nitrocellulose as the primary energetic component. Its formulation includes nitrocellulose, nitroglycerin, dinitrotoluene, and ethyl centralite. This type is distributed through multiple channels such as online platforms, offline stores, and direct sales. It finds application in military, civilian, law enforcement, sport shooting, and hunting sectors.

The smokeless powder market research report is one of a series of new reports that provides smokeless powder market statistics, including smokeless powder industry global market size, regional shares, competitors with a smokeless powder market share, detailed smokeless powder market segments, market trends and opportunities, and any further data you may need to thrive in the smokeless powder industry. This smokeless powder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smokeless powder market consists of sales of extruded powders, flake powders, propellant stabilizers, granular propellant variants, and low-flash powders. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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