The global ammunition market has witnessed substantial growth, with its size valued at USD 25.46 billion in 2019. It is projected to grow at a steady compound annual growth rate (CAGR) of 3.00%, reaching USD 37.39 billion by 2032. North America emerged as the market leader, accounting for a commanding 54.05% share in 2019, driven by strong defense budgets and rising demand for advanced weaponry.

Key Players in the Ammunition Market

The ammunition market is competitive, with major players focusing on innovation, partnerships, and production capacity expansion. Prominent companies in the industry include:

• 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)
• Vista Outdoor, Inc. (The U.S.)

These players emphasize technological advancements in smart ammunition, lightweight projectiles, and environmentally friendly options to meet evolving market demands.

Information Source:

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