Military Ammunition Market Size and Trend Analysis including Segments (Large Caliber Ammunition, Grenades, Rocket Ammunition, Air Dropped Bombs and Others), Key Programs, Competitive Landscape and Forecast, 2021-2031

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The global military ammunition market is valued at over $24 billion in 2021 and is expected to grow with a CAGR of more than 2% during the forecast period of 2022-2031. The global military ammunition market is expected to be led by the Asia-Pacific region, followed by North America, and Europe. Large caliber ammunition has the highest share of segments, followed by grenades, and rocket ammunition. The key companies in the global military ammunition market include Lockheed Martin, Northrop Grumman, Boeing, and others.

The expenditure on this sector across the globe is mainly driven by the increased focus of major DoDs on peacekeeping missions, counter-terrorism, regional conflicts, and anti-insurgency operations. Most of countries have been spending significantly on the procurement of smart munitions and precision-guided weapons, which in turn has driven the demand for associated ammunition over the past few years. This trend is expected to continue over 2021-31.

Global military ammunition market overview

Global military ammunition market overview

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What are the market dynamics of the global military ammunition market?

The rise in instances of regional conflicts, territorial disputes, proxy wars, anti-regime protests, and military coups across various regions such as Asia, the Middle East, and Europe have driven governments around the world to enhance their military strengths through the procurement of advanced ammunition and equipment. Many developing countries, such as Russia, India, China, Turkey, and Saudi Arabia, have undertaken military modernization initiatives to equip their armed forces with state-of-the-art weaponry capable of quick counteroffensive action in case of an attack.

Militaries around the world plan their ammunition needs well in advance and develop procurement plans for ammunition which ensure a steady and constant supply of different types of ammunition. To this end, most of countries are anticipated to depend on multi-year contracts for the regular and long-term supply of their ammunition. Although there may be few contingency-based contracts for ammunition, a significant portion of ammunition procurement by major militaries is anticipated to comprise these multi-year, single-source contracts.

Most of militaries around the world are planning to significantly increase the number of precision munitions in their arsenal over the next decade. To achieve this, the countries are allocating a substantial amount of funds to the defense budgets. In addition, some of the countries are also upgrading and integrating their existing ammunitions with the latest guidance kits. For instance, in November 2021, AL TARIQ, part of the Edge group, has successfully integrated its guided bomb kit with the latest GNSS anti-jamming capability onto an Mk 83 bomb. Moreover, in November 2021 India has also ordered Highly Agile Modular Munition Extended Range (HAMMER) bomb guidance kits to integrate onto the upgraded Mk1A variant.

What is the segment classification in the global military ammunition market?

The market consists of seven categories: large-caliber ammunition, grenades, rocket ammunition, air-dropped bombs, medium caliber ammunition, small caliber ammunition, and mines. Over the forecast period, the market is expected to be dominated by the large-caliber ammunition segment, followed by grenades, and rocket ammunition.

The ongoing arms race among major defense spenders and the growing belligerent attitude of rogue nations, such as North Korea and Iran, are anticipated to drive demand for large caliber ammunition among the US and its allies over 2021-31.

Global military ammunition market, by segment

Global military ammunition market, by segment

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Which are the top regions and countries in the global military ammunition market?

Over 2021-31, the Asia-Pacific region is expected to garner the highest share, followed by North America, and Europe. Asia-Pacific’s share is mainly driven by the rising defense budgets in emerging countries such as China, India, Australia, and South Korea, among others. North America’s share majorly comprises of the investments made by the US, while that of Europe is by Russia, UK, Germany, and France, among others.

Global military ammunition market, by region

Global military ammunition market, by region

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Who are the major players in the global military ammunition market?

The key market players in the global military ammunition market include Lockheed Martin, Northrop Grumman, Boeing, Leidos, Day & Zimmermann, among others.

Global military ammunition market, by key players

Global military ammunition market, by key players

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Market report scope

Market size (Year – 2021) >$24 billion
Growth Rate CAGR of >2% from 2022 to 2031
Base year 2021
Forecast period 2022-2031
Segmentation Large caliber ammunition, grenades, rocket ammunition, air-dropped bombs, medium caliber ammunition, small caliber ammunition, and mines
Regional coverage North America, Latin America, Middle East, Africa, Europe, Asia-Pacific
Key players Lockheed Martin, Northrop Grumman, Boeing, Leidos, and Day & Zimmermann

Scope

This report provides a comprehensive analysis of the global military ammunition market and contains an in-depth analysis of the following:

  • Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
  • Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing military ammunition programs being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
  • Regional highlights: a study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
  • Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
  • Competitive landscape and strategic insights: Analysis of competitive landscape of the global military ammunition market. It provides an overview of key players, their strategic initiatives, and financial analysis.

Reasons to Buy

  • Determine prospective investment areas based on a detailed trend analysis of the global military ammunition over the next ten years
  • Gain in-depth understanding of the underlying factors driving demand for different military ammunition segments in the top spending countries across the world and identify the opportunities offered by each of them
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
  • Identify the major channels that are driving the global military ammunition market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military ammunition market
  • Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top military ammunition equipment providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available

Ordnance Factory Board (OFB)
Boeing
BAE Systems
Raytheon Technologies Corporation
Alliant Techsystems Operations
Orbital ATK
Black Hills Ammunition
Federal Premium Ammunition
Northrup Grumman Innovation Systems
American Ordnance LLC
AMTEC Corporation
Rheinmetall AG
Lockheed Martin
Nexter Munitions
ASELSAN A.Ş
Rheinmetall Denel Munition (Pty) Ltd
Thales SA
Rafael Advanced Defense Systems

Table of Contents

Table of Contents

Executive Summary

Global Military Ammunition Market – Overview

Market Dynamics

Global Military Ammunition Market – Segment Analysis

Global Military Ammunition Market – Regional Analysis

Global Military Ammunition Market – Trend Analysis

Key Programs Analysis

Competitive Landscape Analysis

Appendix

Frequently asked questions

Military Ammunition Market Size and Trend Analysis including Segments (Large Caliber Ammunition, Grenades, Rocket Ammunition, Air Dropped Bombs and Others), Key Programs, Competitive Landscape and Forecast, 2021-2031 thematic reports
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