The global ammunition market has been experiencing steady growth, valued at USD 25.46 billion in 2019 and projected to reach USD 37.39 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.00% from 2020 to 2032. This growth is primarily driven by the increasing demand from the military, law enforcement, and civilian sectors, along with advancements in ammunition technology. The North American region has traditionally dominated the market, accounting for a significant share in 2019, and it continues to play a pivotal role in expanding the ammunition industry.

Key Players in the Ammunition Market

Several prominent companies operate in the global ammunition market, contributing to its growth and shaping the competitive landscape:

• BAE Systems (The U.K)
• CBC Global Ammunition (Brazil)
• Denel SOC Ltd (South Africa)
• General Dynamics Corporation (The U.S.)
• Nammo AS (Norway)
• Nexter group KNDS (France)
• Northrop Grumman Corporation (The U.S.)
• Olin Corporation (The U.S.)
• Poongsan Corporation (South Korea)
• RAUG Group (Switzerland)
• Thales Group (France)

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/ammunition-market-103481

Key Drivers of Ammunition Market Growth

Several factors are contributing to the market's growth trajectory: