Report : North America Ammunition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars, and Others), Application (Defense and Commercial), Guidance (Guided and Non-Guided), Lethality (Non-Lethal and Lethal), and Caliber [Small Caliber Ammunition (5.56mm, 7.62mm, 9mm, 12.7mm, 14.5mm, .45ACP, 338LM, 22LR, .223 Rem, and .308 Winchester), Medium Caliber Ammunition (20mm, 30mm, 40mm, and Others), and Large Caliber Ammunition (60mm, 105mm, 120mm, 150mm, and Others)]

At 8.2% CAGR, the North America Ammunition Market is speculated to be worth US$ 23,144.92 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America ammunition market was valued at US$ 14,420.06 million in 2022 and is expected to reach US$ 23,144.92 million by 2028, registering an annual growth rate of 8.2% from 2022 to 2028. Surge in military spending promoting procurement of ammunitions and upcoming of light weight ammunitions are the critical factors attributed to the market expansion.

The manufacturers across the ammunition industry have been witnessing a significant rise in the demand for ammunition due to the introduction and high procurement of next-generation firearms being adopted by several customers. The ammunition market players are majorly focusing on the development of new and innovative ammunitions to replace different traditional brass cartridges. For instance, Nammo, an international aerospace and defense company, is looking for new lightweight materials that could replace brass cartridges that are beneficial for individual soldiers in terms of weight handling and transportation of ammunition boxes. As a result, the company has invested in MAC LLC, which manufactures ammunition for small arms, to continue the research & development of such products. Further, the use of composite materials by missile manufacturers has been witnessed in the past few years, making the missile a lightweight option that can travel up to more range than conventional materials due to its lightweight capabilities. 

The ammunition industry is continuously exploring ways to evolve the most common small caliber ammunitions, such as 5.56mm and 7.62mm bullets. As a result, several vendors are focusing on finding ways to use new and advanced materials that provide more strength to the product with lighter weight capabilities. This has a strong impact on reducing the overall operational costs, improving product performance, and gradually addressing environmental concerns. This is expected to cater to rising environmental regulations associated with lead contamination, as every bullet that is fired from a gun also releases some amount of lead into its surroundings. The use of such new materials will provide a potential pathway toward lead-free technology. Such developments are catalyzing the demand for new and innovative ammunition solutions for the end users.

On the contrary, shortage of ammunitions after FY 2022 hurdles the growth of North America ammunition market.

The North America ammunition market, by product type, is segmented into bullets, aerial bombs, grenades, artillery shells, mortars, and others. In 2022, the aerial bombs segment dominated market with a share of 25.2%, amassing US$ 3,641.04 million. It is projected to garner US$ 6,619.08 million by 2028 to expand at 10.5% CAGR during 2022–2028.

  • Based on application, the ammunition market sphere is bifurcated into defense and commercial. The former held 83.5% market share in 2022, amassing US$ 12,039.52 million. It is projected to garner US$ 19,571.43 million by 2028 to expand at 8.4% CAGR during 2022–2028.
  • Based on guidance, the ammunition market sphere is bifurcated into guided and non-guided. The guided segment held 57.9% market share in 2022, amassing US$ 8,351.12 million. It is projected to garner US$ 14,092.70 million by 2028 to expand at 9.1% CAGR during 2022–2028
  • Based on lethality, the ammunition market sphere is bifurcated into non-lethal and lethal. The former held 83.9% market share in 2022, amassing US$ 12,091.72 million. It is projected to garner US$ 19,678.78 million by 2028 to expand at 8.5% CAGR during 2022–2028.

By caliber, the North America ammunition market is fragmented into small caliber ammunitions, medium caliber ammunitions, and large caliber ammunitions. With 44.5% share of the domain, the large caliber segment dominated the market in 2022. It accrued US$ 6,420.04 million in 2022 and is estimated to generate US$ 10,718.00 million by 2028 to grow at a CAGR of 8.9% over the forecast period.

Our regional analysis states that US captured 72.4% market share in 2022. It was assessed at US$ 10,434.15 million in 2022 and is likely to hit US$ 17,104.10 million by 2028, exhibiting a CAGR of 8.6% during the forecast period.

Key players dominating the North America ammunition market are 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 among others.

Below are mentioned a few key market developments by majir players:In 2022, Rheinmetall announced contracts from unnamed NATO customers to supply 35mm ammunition. The deliveries will take place in 2023 and 2024 and the contract is worth a total of $21.3 million.

  • In 2022, General Dynamics Ordnance and Tactical Systems awarded a US$ 50.8 million contract for 120mm. The new Production multi-purpose tank training rounds and 120mm new production kinetic energy rounds.

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