Ammunition Market

Ammunition Market by Application (Defense, Civil & Commercial), Caliber (Small, Medium, Large), Product (Bullets, Aerial Bombs, Granades, Artillery Shells, Mortars), Component, Guidance Mechanism, Lethality and Region Global Forecast to 2028

Report Code: AS 2541 Apr, 2024, by marketsandmarkets.com

[404 Pages Report] The Global Ammunition Market size is projected to grow from USD 28.0 Billion in 2023 to USD 33.1 Billion in 2028, at a CAGR of 3.4% from 2023 to 2028.

Terrorism, regional conflicts, and geopolitical disputes have become global issues, posing potential risks to countries and their populations. Thus, governments of different countries are procuring and maintaining an inventory of advanced warfare equipment and ammunition to maintain peace. Ammunition forms an integral component of combat equipment and arms that are owned by various military and law enforcement agencies across the globe.

The Ammunition Industry is dynamic in nature, and parameters such as defense budgets, the number of armed personnel, inventory of firearms/artillery/tanks, stockpiling or war reserves, and geopolitical  tensions, among others, play a key role in defining market attractiveness. Factors such as the changing nature of warfare, the militarization of police forces, the increasing incidence of drug trafficking and terrorist activities, and the modernization of armed forces are fueling the growth of the ammunition market. Apart from its use in defense forces, ammunition also sees increasing importance in civil and commercial applications such as sporting, hunting, and self-defense.

Ammunition Market

Ammunition Market

Ammunition Market Forecast to 2028

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Ammunition Market Dynamics

Driver: Geopolitical Tensions and Territorial Conflicts Across Globe

There has been a rise in the number of armed conflicts between countries in recent years, owing to growing political instabilities, economic inequalities, and geopolitical tensions. Territorial conflicts are also responsible for ceasefire violations, wars, and cross-border terrorism. Some of the major countries involved in such tensions are India, China, Russia, Israel, Algeria, Morocco, South Africa, and Egypt. The latest 2023 Israel-Hamas Conflict and regular skirmishes between India and Pakistan along the line of control (LOC) are some of the reasons for the increased demand for military ordnance and small-caliber ammunition in the South Asian region.

Conflicts between Russia and Ukraine, the civil war in Syria, ceasefire violations between India and Pakistan, and the tense relationship between China and other southeastern countries (such as Taiwan, the Philippines, Indonesia, Vietnam, Japan, South Korea, North Korea, Singapore, Brunei, Nepal, Bhutan, Laos, Mongolia, Myanmar, and Tibet) are some of the major conflicts that have escalated the need for the procurement of ammunition globally in recent years. In October 2023, Hamas crossed Israel’s borders, targeting civilian and military assets, resulting in a full-scale invasion of Gaza by Israel Defense Forces (IDF). It has led to an increased demand for ammunition on both sides, such bullets, mortars projectiles, and artillery shells among others.

Restraint: Civilian Disarmament Initiatives

Civilian disarmament poses a significant restraint for the growth of the ammunition market as it directly impacts the consumer base and demand for firearms-related products. Policies and initiatives aimed at reducing civilian gun ownership, whether through restrictive legislation or voluntary buyback programs, can lead to a decline in the overall market size. With fewer individuals legally possessing firearms, the demand for ammunition decreases, affecting manufacturers, distributors, and retailers in the ammunition industry. Moreover, as governments implement measures to control access to firearms in the interest of public safety, regulatory hurdles and compliance issues emerge, creating additional challenges for ammunition manufacturers. For instance, in 2022, 79% of all homicides in the US were linked to gun violence, prompting the US Senate to pass the Gun Control bill with higher restrictions in owning a firearm. Additionally, the ammunition industry’s reliance on civilian sales for revenue generation means that any substantial decrease in the legal ownership of firearms translates directly to a decline in ammunition sales, posing a considerable challenge to sustained market growth.

Opportunity: Stockpiling of Ammunition

Despite the risk of unplanned explosions and theft associated with the stockpiling of ammunition, there is a rise in stockpiling by both the military as well as civilian sectors. Countries across the world are procuring and stocking large quantities of ammunition to maintain sufficient war reserves. This stock of surplus ammunition has increased in several countries as a result of a reduction in the size of their armed forces. These countries have accumulated large stocks of ammunition and are continuously procuring more ammunition to ensure war preparedness.

The US Department of Defense stocks war-fighting materials in NATO countries as well as with non-NATO allies. Apart from military applications, federal law enforcement agencies in the US, such as the Department of Homeland Security, the Federal Bureau of Investigation, and the US Secret Service, also stockpile ammunition.
Ammunition is largely unregulated in the US, and there are no federal restrictions on how much one can buy at once. According to the National Shooting Sports Foundation (NSSF), at least 12 billion rounds of ammunition are manufactured annually in the US. After its purchase, there is no way to track its usage. As a result, the Vice President of Gun Violence Prevention at the Center for American Progress has expressed concern about the danger that can come with the bulk purchasing and stockpiling of ammunition. In the civilian market, panic-buying and fluctuations in the availability of ammunition, as well as volatile pricing, are the major reasons for the stockpiling of ammunition. Stockpiling of ammunition is expected to act as one of the major opportunities for the growth of the global ammunition market.

Challenge: International Measures to Control Use of Ammunition

The Arms Trade Treaty (ATT) is a multilateral treaty ratified by 91 countries across the globe that came into effect on December 24, 2014. It is one of the measures taken by the United Nations Security Council to regulate the international trade of small arms, ammunition, and other weapons. The treaty prohibits the sale of ammunition across international borders.

The Arms Trade Treaty requires all state parties to adopt basic regulations and approval processes for the flow of weapons across international borders and establish common international standards that must be met before arms exports are authorized. It also requires annual reporting of imports and exports to a treaty secretariat. These regulations impact the contracting and procurement processes related to ammunition in various countries across the globe and further impact the export of ammunition across borders. In 2019, the US announced the withdrawal of its support for the Arms Trade Treaty regulating the multibillion-dollar global arms trade, which could affect the market significantly.

Additionally, unsecured or poorly managed ammunition stockpiles contribute to insecurity, with diverted ammunition becoming a catalyst for armed conflict, organized crime, and terrorism. The improper handling of ammunition has led to unplanned explosions at munition sites in over 100 countries, causing humanitarian and socio-economic disasters.

In 2020 and 2021, a Group of Governmental Experts (GGE) adopted a comprehensive approach to address safety and security measures for ammunition throughout its lifecycle. The GGE proposed practical recommendations for a comprehensive framework on conventional ammunition management to prevent both unplanned explosions and diversion.

Ecosystem Map: Ammunition Market

Ammunition Market by Ecosystem

Increasing Investment in the Modernization of the Military is Fueling the Rise of the Defense Applications

Based on application, there are two segments of the ammunition market: defense and civil & commercial. In 2023, the defense application held the biggest market share. The global rise in terrorism and armed conflicts is propelling the growth of the military sector in the market. The demand for large-caliber ammunition, artillery, and mortars in the Asia-Pacific area has significantly increased as a result of growing international hostilities and cross-border conflicts.

Based on Caliber, the Ammunition Market's Small Caliber Segment is Anticipated to Grow at the Fastest Rate From 2023 to 2028

Based on caliber, there are four categories in the ammunition market: small, medium, large, and others. Over the course of the forecast period, the small caliber segment is anticipated to grow at the highest CAGR. Due to the lower lethality of small caliber ammunition, there has been a growth in this market sector among homeland security and military personnel. Additionally, open online markets for small weapons and ammunition as well as increased small caliber ammunition purchase by the homeland security and defense sectors to stop the rising number of armed conflicts are driving this segment's rise.

The Ammunition Market's Bullets Segment is Anticipated to Grow at the Fastest Rate Because of the Armed Forces' Growing Emphasis on Modernizing Its Air and Land Force Inventories

Based on products, the market for the ammunitions is segmented into mortars, artillery shells, grenades, aerial bombs, and bullets. Upgrading the land and air force inventories worldwide has become more important in recent years for a variety of reasons, including air force uses and geopolitical threats. Due to which bullet segmented is forecasted to be fastest growing segment. For example, US fighter aircraft programs are still in progress. In contrast, the Indian air force is searching for multirole aircraft to bolster their armed forces; as a result, the need for associated ammunition will rise in the upcoming years due to the acquisition of new aircraft. Aerial bombs are produced for use by General Dynamics Corporation (US) and Hanwha Corporation (South Korea).

The Projectiles & Warheads Segment Will Lead the Ammunition Market in 2023

Based on components, the projectiles & warheads segment will lead the ammunition market due to their critical role in modern military and defense strategies. As armed conflicts evolve and become increasingly sophisticated, the demand for advanced munitions capable of delivering precise and lethal firepower is on the rise. Projectiles and warheads offer versatility and effectiveness across a range of missions, including air defense, anti-armor operations, and precision strikes.

The Asia Pacific Region to Account for the Highest Share During 2023 to 2028

Asia Pacific to account for the highest share during the forecast period, which is largely driven by the increasing instances of terrorism and cross-border conflicts in the region. Defense forces of different countries in Asia Pacific are procuring new ammunition under military modernization programs. Several countries, such as India and China, are carrying out dedicated ammunition upgradation programs, which have resulted in an increased demand for ammunition. The North American ammunition market is projected to grow at a CAGR of 2.6% during the forecast period. The growth of the market in this region can be attributed to the increased procurement of ammunition by the US due to the rising deployment of the defense forces of the country in overseas operations. The US is the largest developer, operator, and exporter of ammunition, globally, thereby making the North American region one of the largest consumers of ammunition across the globe.

Ammunition Market by Region

Ammunition Market by Region

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Ammunition Industry Companies: Top
Key Market Players

The major players in the Ammunition Companies are established players such as General Dynamics Corporation (US), Northrop Grumman Corporation (US), BAE Systems (UK), Thales (France), and Nammo AS (Norway). These players have adopted various growth strategies such as contracts, partnerships, collaborations, and agreements to further expand their presence in the ammunition market.

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Scope of the Report

Report Metric

Details

Estimated Market Size

USD 28.0 Billion in 2023

Projected Market Size

USD 33.1 Billion in 2028

Growth Rate

3.4%

Market Size Available for Years

2020–2028

Base Year Considered

2022

Forecast Period

2023-2028

Forecast Units

Value (USD Million)

Segments Covered

By Application, By Caliber, By Product, By Component, By Guidance Mechanism, By Lethality

Geographies Covered

North America, Europe, Asia Pacific, Middle East, Africa, and Latin America

Companies Covered

Northrop Grumman Corporation (US), General Dynamics Corporation (US), CBC Global Ammunition (Brazil), Olin Corporation (US), Ruag Ammotec (Switzerland), BAE Systems (UK), Thales Group (France), Rheinmetal AG (Germany), Nexter KNDS group (France), Elbit Systems (Israel), Nammo AS (Norway), and ST Engineering (Singapore) among others. (28 Companies)

Ammunition Market Highlights

The Study Categorizes the Ammunition Market Based on Application, Caliber, Product, Component, Guidance Mechanism, Lethality, and Region

Segment

Subsegment

By Application

  • Defense
    • Military
    • Homeland Security
  • Civil & Commercial
    • Sporting
    • Hunting
    • Self-Defense
    • Others

By Caliber

  • Small-Caliber Ammunition
    • 9X19 MM Parabellum
    • 5.56 MM
    • 7.62 MM
    • 12.7 MM
    • 14.5 MM
    • .338 Lapua Magnum
    • .338 Norma Magnum
    • Others
  • Medium-Caliber Ammunition
    • 20 MM
    • 25 MM
    • 30 MM
    • 40 MM
  • Large-Caliber Ammunition
    • 60 MM
    • 81 MM
    • 120 MM
    • 155 MM
    • Others
  • Others

By Product

  • Bullets
  • Aerial Bombs
  • Grenades
  • Artillery Shells
  • Mortars

By Component

  • Fuzes & Primers
    • Fuze
    • Primer
  • Propellants
  • Bases
  • Projectiles and Warheads
  • Others

By Guidance Mechanism

  • Guided
  • Non-guided

By Lethality

  • Lethal
  • Less-Lethal

By Region

  • North America
  • Asia Pacific
  • Europe
  • Middle East
  • Latin America
  • Africa

Recent Developments

  • In January 2024, Nammo AS received USD 95 million from the Norwegian government to boost its production. Nammo will use the funding largely on its 155mm artillery ammunition.
  • In December 2023, Rheinmetall has been commissioned to supply several tens of thousands of shells of various types for the Ukrainian armed forces. Delivery is scheduled for 2025. The contract is valued at USD 1.3 billion.
  • In November 2023, the UK Ministry of Defence (MOD) has placed a new USD 21 million order with BAE Systems to supply additional small arms munitions over the next two years.
  • In November 2023, Rheinmetall has received an order from the German government to supply Ukraine with around 100,000 rounds of 120mm mortar ammunition. The order, worth a figure in the lower-three-digit million-euro range, forms part of a recent USD 433 million military aid package for the Ukrainian armed forces. Delivery is due to begin shortly and extend over the next two years.
  • In October 2023, the US Navy has awarded Northrop Grumman Corporation a development contract for the company’s newly designed 57mm guided high explosive ammunition. Designated for use with the Mk110 Naval Gun Mount, the company will test and mature the munition for qualification.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 61)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 AMMUNITION: MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 INCLUSIONS AND EXCLUSIONS 
           TABLE 1 INCLUSIONS AND EXCLUSIONS IN AMMUNITION MARKET
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 MARKET STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 67)
    2.1 RESEARCH DATA 
           FIGURE 1 RESEARCH FLOW
           FIGURE 2 RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
                               FIGURE 3 KEY DATA FROM SECONDARY SOURCES
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION 
    2.3 RESEARCH APPROACH & METHODOLOGY 
           2.3.1 BOTTOM-UP APPROACH
                    2.3.1.1 Ammunition market for military
                    2.3.1.2 Ammunition market for homeland security
                    2.3.1.3 Ammunition market for civil & commercial
                    2.3.1.4 Ammunition market size, by segment
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN & DATA TRIANGULATION 
           FIGURE 6 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS 
    2.6 RECESSION IMPACT ANALYSIS 
    2.7 RESEARCH LIMITATIONS 
    2.8 RUSSIA-UKRAINE WAR IMPACT ANALYSIS 
           2.8.1 IMPACT OF RUSSIA’S INVASION OF UKRAINE ON DEFENSE INDUSTRY’S MACRO FACTORS
                    FIGURE 7 IMPACT OF RUSSIA’S INVASION OF UKRAINE ON DEFENSE INDUSTRY’S MACRO FACTORS
                    2.8.1.1 Impact of Russia-Ukraine war on micro factors of defense market
                    2.8.1.2 Impact of Russia-Ukraine war on micro factors of ammunition market
                               FIGURE 8 IMPACT OF RUSSIA-UKRAINE WAR ON MICRO FACTORS OF AMMUNITION MARKET
    2.9 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 80)
    FIGURE 9 DEFENSE SEGMENT TO LEAD DURING FORECAST PERIOD
    FIGURE 10 SMALL-CALIBER SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 11 BULLETS SEGMENT TO LEAD DURING FORECAST PERIOD
    FIGURE 12 PROJECTILES & WARHEADS SEGMENT TO LEAD DURING FORECAST PERIOD
    FIGURE 13 MARKET IN ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 84)
    4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS
           FIGURE 14 INCREASE IN NUMBER OF ARMED CONFLICTS AND DEMAND FOR ARMED FORCES MODERNIZATION PROGRAMS TO FUEL MARKET GROWTH
    4.2 BY APPLICATION 
           FIGURE 15 DEFENSE SEGMENT RECORDED HIGHEST MARKET SHARE IN 2023
    4.3 BY CALIBER 
           FIGURE 16 MEDIUM-CALIBER TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    4.4 BY PRODUCT 
           FIGURE 17 BULLETS SEGMENT TO ACCOUNT FOR HIGHEST MARKET SHARE DURING FORECAST PERIOD
    4.5 BY COMPONENT 
           FIGURE 18 PROJECTILE & WARHEAD COMPONENT SEGMENT TO HOLD HIGHEST MARKET SHARE DURING FORECAST PERIOD
    4.6 BY GUIDANCE 
           FIGURE 19 NON-GUIDED SEGMENT TO WITNESS HIGHER MARKET SHARE DURING FORECAST PERIOD
    4.7 BY LETHALITY 
           FIGURE 20 LETHAL SEGMENT TO HOLD HIGHER MARKET SHARE DURING FORECAST PERIOD
    4.8 BY COUNTRY 
           FIGURE 21 RUSSIA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 88)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Geopolitical tensions and territorial conflicts across globe
                               TABLE 2 GLOBAL TERRORISM INDEX, BY COUNTRY, 2022
                    5.2.1.2 Growth in military expenditure and arms transfer across countries
                               FIGURE 23 MILITARY EXPENDITURE OF TOP COUNTRIES, 2022
                               FIGURE 24 SHARE OF TOP 10 MAJOR ARMS EXPORTERS, 2018–2022
                    5.2.1.3 Change in nature of warfare
                    5.2.1.4 Modernization programs undertaken by military forces
                    5.2.1.5 Militarization of police forces
                    5.2.1.6 Rise in drug trafficking globally
           5.2.2 RESTRAINTS
                    5.2.2.1 Varying regulations affecting procurement of ammunition
                    5.2.2.2 Civilian disarmament initiatives
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Advancements in small-caliber ammunition
                               TABLE 3 RECENT DEVELOPMENTS IN ADVANCED AMMUNITION
                    5.2.3.2 Stockpiling of ammunition
                    5.2.3.3 Reduction in weight of ammunition
           5.2.4 CHALLENGES
                    5.2.4.1 Proliferation of illicit ammunition manufacturers
                    5.2.4.2 International measures to control use of ammunition
    5.3 MARKET ECOSYSTEM 
           5.3.1 PROMINENT COMPANIES
           5.3.2 PRIVATE AND SMALL ENTERPRISES
           5.3.3 END USERS
                    FIGURE 25 ECOSYSTEM MAP
                    TABLE 4 AMMUNITION: MARKET ECOSYSTEM
    5.4 TECHNOLOGY ANALYSIS 
           5.4.1 KEY TECHNOLOGIES
                    5.4.1.1 Self-steering Bullet
                    5.4.1.2 Caseless Telescoped Ammunition (CTA)
                    5.4.1.3 Polymer-cased Ammunition
                               TABLE 5 CONVENTIONAL BRASS-CASED AMMUNITION VS. EMERGENT CARTRIDGE CASE TECHNOLOGIES
                    5.4.1.4 Lightweight Ammunition
                               TABLE 6 WEIGHT DISTRIBUTION: 7.62 X 51 MM CARTRIDGE
                    5.4.1.5 Advanced Propellants
           5.4.2 COMPLIMENTARY TECHNOLOGIES
                    5.4.2.1 Precision-Guided Munition (PGM)
                    5.4.2.2 Multipurpose Munition
                               5.4.2.2.1 Loitering munitions
    5.5 OPERATIONAL DATA 
           5.5.1 SOLDIER HEADCOUNT BY MAJOR COUNTRIES, 2018–2020
                    TABLE 7 SOLDIER HEADCOUNT, BY COUNTRY, 2018–2020
           5.5.2 KEY CALIBERS USED BY MAJOR COUNTRIES, 2023
                    TABLE 8 KEY CALIBER, BY COUNTRY, 2023
           5.5.3 KEY FIREARMS USED BY MAJOR COUNTRIES, 2023
                    TABLE 9 KEY FIREARM, BY COUNTRY, 2023
    5.6 CASE STUDY ANALYSIS 
           5.6.1 EXTENDED RANGE ARTILLERY SHELLS
           5.6.2 DEVELOPMENT OF HIGH-POWER ANTI-TANK SHELLS
    5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS 
           5.7.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR AMMUNITION MANUFACTURERS
           FIGURE 26 REVENUE SHIFT IN AMMUNITION MARKET
    5.8 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 27 INFLUENCE OF STAKEHOLDERS ON BUYING AMMUNITION FOR TWO APPLICATIONS
                    TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING AMMUNITION FOR TWO APPLICATIONS (%)
           5.8.2 BUYING CRITERIA
                    FIGURE 28 KEY BUYING CRITERIA OF AMMUNITION FOR TOP TWO APPLICATIONS
                    TABLE 11 KEY BUYING CRITERIA OF AMMUNITION FOR TOP TWO APPLICATIONS
    5.9 VALUE CHAIN ANALYSIS 
           FIGURE 29 VALUE CHAIN ANALYSIS
           5.9.1 AMMUNITION PRODUCTION PROCESS
                    FIGURE 30 SMALL-CALIBER AMMUNITION PRODUCTION PROCESS
                    5.9.1.1 Packaging and marking of small-caliber ammunition
                    5.9.1.2 Trends in packaging and marking ammunition
                               5.9.1.2.1 Laser engraving
                               5.9.1.2.2 RFID tags
                               5.9.1.2.3 Electronic chip strips
    5.10 PRICING ANALYSIS 
           FIGURE 31 AVERAGE SELLING PRICE OF SMALL, MEDIUM, AND LARGE-CALIBER AMMUNITION, BY APPLICATION
           5.10.1 AVERAGE SELLING PRICE OF SMALL-CALIBER AMMUNITION
                    TABLE 12 AVERAGE SELLING PRICE OF SMALL-CALIBER AMMUNITION, 2022 (USD)
           5.10.2 AVERAGE SELLING PRICE OF MEDIUM-CALIBER AMMUNITION
                    TABLE 13 AVERAGE SELLING PRICE OF MEDIUM-CALIBER AMMUNITION, 2022 (USD)
    5.11 BILL OF MATERIALS (BOM) FOR 155 MM HIGH EXPLOSIVE SHELLS 
           FIGURE 32 BILL OF MATERIALS FOR 155 MM HIGH EXPLOSIVE SHELLS IN 2023
    5.12 TOTAL COST OF OWNERSHIP OF 155 MM HIGH EXPLOSIVE SHELLS 
           FIGURE 33 TOTAL COST OF OWNERSHIP OF HIGH EXPLOSIVE 155 MM SHELLS
           TABLE 14 TOTAL COST OF OWNERSHIP OF 155 MM HIGH EXPLOSIVE SHELLS
    5.13 BUSINESS MODEL OF 5 KEY PLAYERS 
           FIGURE 34 BUSINESS MODEL OF 5 KEY PLAYERS
    5.14 TRADE DATA ANALYSIS 
           5.14.1 IMPORT SCENARIO
                    FIGURE 35 IMPORT DATA FOR TOP 10 COUNTRIES FOR HS CODE 93
           5.14.2 EXPORT SCENARIO
                    FIGURE 36 EXPORT DATA OF TOP 10 COUNTRIES FOR HS CODE 93
    5.15 TARIFF AND REGULATORY LANDSCAPE 
           5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 17 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 18 MIDDLE EAST: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 19 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.16 KEY CONFERENCES & EVENTS, 2024–2025 
           TABLE 20 DETAILED LIST OF CONFERENCES & EVENTS
 
6 INDUSTRY TRENDS (Page No. - 120)
    6.1 INTRODUCTION 
    6.2 TECHNOLOGY TRENDS 
           6.2.1 ADDITIVE MANUFACTURING
           6.2.2 OPTICALLY INITIATED AMMUNITION
           6.2.3 RADICALLY INVASIVE PROJECTILE (RIP) AMMUNITION
    6.3 ADVANCEMENTS IN AMMUNITION TECHNOLOGY 
           6.3.1 CARTRIDGE-BASED AMMUNITION
                    6.3.1.1 Laser-initiated ammunition
                    6.3.1.2 One-way luminescence (OWL) projectiles
                    6.3.1.3 Pre-fragmented ammunition
                    6.3.1.4 General-purpose caliber
                    6.3.1.5 Green ammunition
                    6.3.1.6 Cased telescoped (CT) ammunition
                    6.3.1.7 Polymer cartridge cases
                    6.3.1.8 Caseless ammunition
                    6.3.1.9 Self-guided smart bullets
                    6.3.1.10 Biodegradable plant-growing bullets
           6.3.2 SMART WEAPON AMMUNITION
                    6.3.2.1 Precision inertial navigation systems (PINS)
                    6.3.2.2 Micro inertial navigation technology
                    6.3.2.3 Extreme accuracy tasked ordnance
                    6.3.2.4 Inertial measurement units
    6.4 INNOVATION & PATENT REGISTRATIONS 
           FIGURE 37 NUMBER OF PATENTS GRANTED FOR AMMUNITION MARKET, 2014–2022
           TABLE 21 IMPORTANT INNOVATIONS & PATENT REGISTRATIONS, 2010–2022
    6.5 TECHNOLOGY ROADMAP 
           FIGURE 38 INTRODUCTION TO TECHNOLOGY ROADMAP
           FIGURE 39 EVOLUTION OF KEY TECHNOLOGY
           FIGURE 40 EMERGING TREND RELATED TO AMMUNITION MARKET
 
7 MARKET, BY APPLICATION (Page No. - 129)
    7.1 INTRODUCTION 
           FIGURE 41 DEFENSE SEGMENT IS PROJECTED TO LEAD AMMUNITION MARKET FROM 2023 TO 2028.
           TABLE 22 MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
           TABLE 23 MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
    7.2 DEFENSE 
           TABLE 24 MARKET, BY DEFENSE, 2020–2022 (USD MILLION)
           TABLE 25 MARKET, BY DEFENSE, 2023–2028 (USD MILLION)
           7.2.1 MILITARY
                    7.2.1.1 Rising intensity of global conflicts to drive market
           7.2.2 HOMELAND SECURITY
                    7.2.2.1 Rise of unconventional threats to drive market
    7.3 CIVIL & COMMERCIAL 
           TABLE 26 MARKET, BY CIVIL & COMMERCIAL APPLICATION, 2020–2022 (USD MILLION)
           TABLE 27 MARKET BY CIVIL & COMMERCIAL APPLICATION, 2023–2028 (USD MILLION)
           7.3.1 SPORTING
                    7.3.1.1 Increasing demand for firearms and airguns to drive market
           7.3.2 HUNTING
                    7.3.2.1 Increasing demand for precision in hunting activities to drive market
           7.3.3 SELF-DEFENSE
                    7.3.3.1 Growing concern for personal safety to drive market
           7.3.4 OTHER CIVIL & COMMERCIAL APPLICATIONS
 
8 AMMUNITION MARKET, BY CALIBER (Page No. - 135)
    8.1 INTRODUCTION 
           FIGURE 42 MEDIUM-CALIBER AMMUNITION SEGMENT IS PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 28 MARKET, BY CALIBER, 2020–2022 (USD MILLION)
           TABLE 29 MARKET, BY CALIBER, 2023–2028 (USD MILLION)
    8.2 SMALL-CALIBER AMMUNITION 
           8.2.1 MODERNIZATION OF ARMED FORCES TO DRIVE MARKET
                    TABLE 30 MARKET, BY SMALL CALIBER, 2020–2022 (USD MILLION)
                    TABLE 31 MARKET, BY SMALL CALIBER, 2023–2028 (USD MILLION)
           8.2.2 9X19 MM PARABELLUM
                    8.2.2.1 Low cost and easy availability to drive market
           8.2.3 5.56 MM
                    8.2.3.1 Increasing use of military and civilian firearms to drive market
           8.2.4 7.62 MM
                    8.2.4.1 Rise in procurement from defense forces to drive market
           8.2.5 338 LAPUA MAGNUM
                    8.2.5.1 Increasing adoption by special forces to drive market
           8.2.6 338 NORMA MAGNUM
                    8.2.6.1 Increasing adoption by US and Israel armed forces to drive market
           8.2.7 12.7 MM
                    8.2.7.1 High stopping power, versatility, and widespread adoption to drive market
           8.2.8 14.5 MM
                    8.2.8.1 Increasing demand in remote weapon stations of naval vessels, aircraft, and armored vehicles to drive market
           8.2.9 OTHER SMALL-CALIBER AMMUNITION
    8.3 MEDIUM-CALIBER AMMUNITION 
           8.3.1 RISING DEMAND FROM MILITARY AND LAW ENFORCEMENT TO DRIVE MARKET
                    TABLE 32 MARKET, BY MEDIUM CALIBER, 2020–2022 (USD MILLION)
                    TABLE 33 MARKET BY MEDIUM CALIBER, 2023–2028 (USD MILLION)
           8.3.2 20 MM
                    8.3.2.1 Increasing use in counter-rocket, artillery, and mortar (C-RAM) weapon systems to drive market
           8.3.3 25 MM
                    8.3.3.1 Increasing use in infantry fighting vehicles to drive market
           8.3.4 30 MM
                    8.3.4.1 High usage in attack helicopters to drive demand
           8.3.5 40 MM
                    8.3.5.1 Technological advancements and superior properties to drive market
    8.4 LARGE-CALIBER AMMUNITION 
           8.4.1 SURGE IN DEMAND DUE TO INCREASED GEO-POLITICAL INSTABILITY TO DRIVE MARKET
                    TABLE 34 MARKET, BY LARGE CALIBER, 2020–2022 (USD MILLION)
                    TABLE 35 MARKET BY LARGE CALIBER, 2023–2028 (USD MILLION)
           8.4.2 60 MM
                    8.4.2.1 Increasing use of mortars to drive market
           8.4.3 81 MM
                    8.4.3.1 Need for long-range bombardment to drive market
           8.4.4 120 MM
                    8.4.4.1 Need for robust armored capabilities to drive market
           8.4.5 155 MM
                    8.4.5.1 Use in long-range artillery applications to drive market
           8.4.6 OTHER LARGE-CALIBER AMMUNITION
    8.5 OTHERS 
 
9 AMMUNITION MARKET, BY PRODUCT (Page No. - 145)
    9.1 INTRODUCTION 
           FIGURE 43 ARTILLERY SHELLS TO ACCOUNT FOR HIGHEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 36 MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
           TABLE 37 MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
    9.2 BULLETS 
           9.2.1 HIGH DEMAND FROM INFANTRY SOLDIERS, HOMELAND SECURITY PERSONNEL, AND CIVILIANS TO DRIVE MARKET
    9.3 AERIAL BOMBS 
           9.3.1 UNPARALLELED IMPACT AND VERSATILITY TO DRIVE MARKET
    9.4 GRENADES 
           9.4.1 PORTABILITY AND MINIMAL TRAINING REQUIREMENTS TO DRIVE MARKET
    9.5 ARTILLERY SHELLS 
           9.5.1 MILITARY MODERNIZATION PROGRAMS TO DRIVE MARKET
    9.6 MORTARS 
           9.6.1 ABILITY TO DELIVER HIGH-ANGLE FIRE TO DRIVE MARKET
 
10 AMMUNITION MARKET, BY COMPONENT (Page No. - 149)
     10.1 INTRODUCTION 
             FIGURE 44 PROJECTILES & WARHEADS SEGMENT PROJECTED TO LEAD AMMUNITION MARKET FROM 2023 TO 2028
             TABLE 38 MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
             TABLE 39 MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
     10.2 FUZES & PRIMERS 
             10.2.1 PRIMERS
                        10.2.1.1 Increasing global demand for firearms, self-defense, sporting, and military purposes to drive market
                        10.2.1.2 Rimfire primers
                                     10.2.1.2.1 High demand for low-cost ammunition to drive market
                        10.2.1.3 Centerfire primers
                                     10.2.1.3.1 Widely used in various firearm applications to drive market
             10.2.2 FUZES
                        10.2.2.1 Wide applicability of fuzes in ammunition products to drive market
                        10.2.2.2 Time fuzes
                                     10.2.2.2.1 High adoption in large-caliber ammunition to drive market
                        10.2.2.3 Impact fuzes
                                     10.2.2.3.1 Growing adoption in conventional ammunition to drive market
                        10.2.2.4 Proximity fuzes
                                     10.2.2.4.1 Increasing use in anti-aircraft applications to drive market
                        10.2.2.5 Combination fuzes
                                     10.2.2.5.1 Increasing adoption in new range guided ammunition to drive market
     10.3 PROPELLANTS 
             10.3.1 HIGH DEMAND FOR ARTILLERY SHELLS TO DRIVE MARKET
     10.4 BASES 
             10.4.1 HIGH DEMAND FOR COPPER BASE IN CONVENTIONAL AMMUNITION TO DRIVE MARKET
     10.5 PROJECTILES AND WARHEADS 
             10.5.1 INCREASING DEVELOPMENT OF NEW VARIETIES OF WARHEADS TO DRIVE MARKET
     10.6 OTHERS 
 
11 AMMUNITION MARKET, BY GUIDANCE MECHANISM (Page No. - 155)
     11.1 INTRODUCTION 
             FIGURE 45 NON-GUIDED SEGMENT PROJECTED TO GROW AT HIGHER CAGR FROM 2023 TO 2028
             TABLE 40 MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
             TABLE 41 MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
     11.2 GUIDED 
             11.2.1 LOW COLLATERAL DAMAGE TO DRIVE MARKET
     11.3 NON-GUIDED 
             11.3.1 LOW COST AND VERSATILITY TO DRIVE MARKET
 
12 AMMUNITION MARKET, BY LETHALITY (Page No. - 158)
     12.1 INTRODUCTION 
             FIGURE 46 LETHAL SEGMENT PROJECTED TO LEAD MARKET FROM 2023 TO 2028
             TABLE 42 MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
             TABLE 43 MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
     12.2 LESS LETHAL 
             12.2.1 RISING ADOPTION AMONG LAW ENFORCEMENT FOR CIVIL DISTURBANCES TO DRIVE MARKET
     12.3 LETHAL 
             12.3.1 INCREASING DEFENSE EXPENDITURES & SOCIAL UNREST TO DRIVE MARKET
 
13 REGIONAL ANALYSIS (Page No. - 161)
     13.1 INTRODUCTION 
             FIGURE 47 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF AMMUNITION MARKET IN 2022
             TABLE 44 MARKET, BY REGION, 2020–2022 (USD MILLION)
             TABLE 45 MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 46 MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
             TABLE 47 MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             TABLE 48 MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
             TABLE 49 MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 50 MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
             TABLE 51 MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 52 MARKET, BY CALIBER, 2020–2022 (USD MILLION)
             TABLE 53 MARKET, BY CALIBER, 2023–2028 (USD MILLION)
             TABLE 54 SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
             TABLE 55 SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 56 MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
             TABLE 57 MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 58 LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
             TABLE 59 LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
             TABLE 60 MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
             TABLE 61 MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
             TABLE 62 MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
             TABLE 63 MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
             TABLE 64 MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
             TABLE 65 MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
             TABLE 66 MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
             TABLE 67 MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
     13.2 REGIONAL RECESSION IMPACT ANALYSIS 
             TABLE 68 REGIONAL RECESSION IMPACT ANALYSIS
     13.3 DEFENSE PROGRAM MAPPING 
             TABLE 69 GLOBAL: AMMUNITION DEFENSE PROGRAM MAPPING
     13.4 NORTH AMERICA 
             13.4.1 PESTLE ANALYSIS
             13.4.2 RECESSION IMPACT ANALYSIS
                        FIGURE 48 NORTH AMERICA: SNAPSHOT
                        TABLE 70 NORTH AMERICA: BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 71 NORTH AMERICA: BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 72 NORTH AMERICA: BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 73 NORTH AMERICA: BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 74 NORTH AMERICA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 75 NORTH AMERICA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 76 NORTH AMERICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 77 NORTH AMERICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 78 NORTH AMERICA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 79 NORTH AMERICA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 80 NORTH AMERICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 81 NORTH AMERICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 82 NORTH AMERICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 83 NORTH AMERICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 84 NORTH AMERICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 85 NORTH AMERICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 86 NORTH AMERICA: MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 87 NORTH AMERICA: MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 88 NORTH AMERICA: MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 89 NORTH AMERICA: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 90 NORTH AMERICA: MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 91 NORTH AMERICA: MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 92 NORTH AMERICA: MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 93 NORTH AMERICA: MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.4.3 US
                        13.4.3.1 Rise in demand for ammunition for civilian applications to drive market.
                                     TABLE 94 US: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 95 US: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 96 US: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 97 US: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 98 US: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 99 US: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 100 US: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 101 US: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 102 US: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 103 US: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 104 US: MILITARY SMALL-CALIBER AMMUNITION, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 105 US: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.4.4 CANADA
                        13.4.4.1 Critical shortage in artillery shells to drive market
                                     TABLE 106 CANADA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 107 CANADA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 108 CANADA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 109 CANADA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 110 CANADA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 111 CANADA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 112 CANADA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 113 CANADA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 114 CANADA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 115 CANADA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
     13.5 EUROPE 
             13.5.1 PESTLE ANALYSIS
             13.5.2 RECESSION IMPACT ANALYSIS
                        FIGURE 49 EUROPE: MARKET SNAPSHOT
                        TABLE 116 EUROPE: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 117 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 118 EUROPE: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 119 EUROPE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 120 EUROPE: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 121 EUROPE: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 122 EUROPE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 123 EUROPE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 124 EUROPE: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 125 EUROPE: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 126 EUROPE: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 127 EUROPE: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 128 EUROPE: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 129 EUROPE: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 130 EUROPE: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 131 EUROPE: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 132 EUROPE: MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 133 EUROPE: MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 134 EUROPE: MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 135 EUROPE: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 136 EUROPE: MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 137 EUROPE: MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 138 EUROPE: MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 139 EUROPE: MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.5.3 UK
                        13.5.3.1 NGMS program to drive market
                                     TABLE 140 UK: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 141 UK: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 142 UK: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 143 UK: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 144 UK: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 145 UK: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 146 UK: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 147 UK: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 148 UK: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 149 UK: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 150 UK: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 151 UK: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.5.4 FRANCE
                        13.5.4.1 Increase in military and ammunition budget to drive market
                                     TABLE 152 FRANCE: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 153 FRANCE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 154 FRANCE: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 155 FRANCE: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 156 FRANCE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 157 FRANCE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 158 FRANCE: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 159 FRANCE: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 160 FRANCE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 161 FRANCE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 162 FRANCE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 163 FRANCE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.5.5 RUSSIA
                        13.5.5.1 Ongoing conflict with Ukraine to drive market
                                     TABLE 164 RUSSIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 165 RUSSIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 166 RUSSIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 167 RUSSIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 168 RUSSIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 169 RUSSIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 170 RUSSIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 171 RUSSIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 172 RUSSIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 173 RUSSIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.5.6 GERMANY
                        13.5.6.1 Presence of key market players to propel demand for ammunition
                                     TABLE 174 GERMANY: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 175 GERMANY: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 176 GERMANY: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 177 GERMANY: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 178 GERMANY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 179 GERMANY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 180 GERMANY: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 181 GERMANY: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 182 GERMANY: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 183 GERMANY: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 184 GERMANY: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 185 GERMANY: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.5.7 ITALY
                        13.5.7.1 Rising counter-terror operations to drive market
                                     TABLE 186 ITALY: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 187 ITALY: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 188 ITALY: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 189 ITALY: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 190 ITALY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 191 ITALY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 192 ITALY: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 193 ITALY: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 194 ITALY: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 195 ITALY: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.5.8 SPAIN
                        13.5.8.1 Rising demand for mortar and artillery ammunition to drive market
                                     TABLE 196 SPAIN: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 197 SPAIN: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 198 SPAIN: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 199 SPAIN: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 200 SPAIN: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 201 SPAIN: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 202 SPAIN: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 203 SPAIN: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 204 SPAIN: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 205 SPAIN: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.5.9 POLAND
                        13.5.9.1 National Ammunition Reserve program to drive market
                                     TABLE 206 POLAND: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 207 POLAND: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 208 POLAND: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 209 POLAND: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 210 POLAND: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 211 POLAND: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 212 POLAND: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 213 POLAND: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 214 POLAND: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 215 POLAND: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.5.10 REST OF EUROPE
                        TABLE 216 REST OF EUROPE: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 217 REST OF EUROPE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 218 REST OF EUROPE: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 219 REST OF EUROPE: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 220 REST OF EUROPE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 221 REST OF EUROPE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 222 REST OF EUROPE: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 223 REST OF EUROPE: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 224 REST OF EUROPE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                        TABLE 225 REST OF EUROPE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
     13.6 ASIA PACIFIC 
             13.6.1 PESTLE ANALYSIS
             13.6.2 RECESSION IMPACT ANALYSIS
                        FIGURE 50 ASIA PACIFIC: MARKET SNAPSHOT
                        TABLE 226 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 227 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 228 ASIA PACIFIC: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 229 ASIA PACIFIC: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 230 ASIA PACIFIC: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 231 ASIA PACIFIC: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 232 ASIA PACIFIC: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 233 ASIA PACIFIC: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 234 ASIA PACIFIC: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 235 ASIA PACIFIC: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 236 ASIA PACIFIC: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 237 ASIA PACIFIC: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 238 ASIA PACIFIC: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 239 ASIA PACIFIC: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 240 ASIA PACIFIC: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 241 ASIA PACIFIC: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 242 ASIA PACIFIC: MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 243 ASIA PACIFIC: MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 244 ASIA PACIFIC: MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 245 ASIA PACIFIC: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 246 ASIA PACIFIC: MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 247 ASIA PACIFIC: MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 248 ASIA PACIFIC: MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 249 ASIA PACIFIC: MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.6.3 CHINA
                        13.6.3.1 Geopolitical tensions with neighboring countries to increase procurement of ammunition
                                     TABLE 250 CHINA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 251 CHINA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 252 CHINA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 253 CHINA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 254 CHINA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 255 CHINA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 256 CHINA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 257 CHINA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 258 CHINA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 259 CHINA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.6.4 INDIA
                        13.6.4.1 Growing focus on indigenous manufacturing of ammunition to drive market
                                     TABLE 260 INDIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 261 INDIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 262 INDIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 263 INDIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 264 INDIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 265 INDIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 266 INDIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 267 INDIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 268 INDIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 269 INDIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 270 INDIA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 271 INDIA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.6.5 JAPAN
                        13.6.5.1 Increase in budget for ammunition to drive growth
                                     TABLE 272 JAPAN: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 273 JAPAN: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 274 JAPAN: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 275 JAPAN: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 276 JAPAN: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 277 JAPAN: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 278 JAPAN: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 279 JAPAN: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 280 JAPAN: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 281 JAPAN: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 282 JAPAN: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 283 JAPAN: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.6.6 SOUTH KOREA
                        13.6.6.1 Rising defense exports to drive market
                                     TABLE 284 SOUTH KOREA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 285 SOUTH KOREA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 286 SOUTH KOREA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 287 SOUTH KOREA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 288 SOUTH KOREA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 289 SOUTH KOREA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 290 SOUTH KOREA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 291 SOUTH KOREA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 292 SOUTH KOREA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 293 SOUTH KOREA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 294 SOUTH KOREA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 295 SOUTH KOREA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.6.7 AUSTRALIA
                        13.6.7.1 Government contracts and increase in budget for ammunition to drive market
                                     TABLE 296 AUSTRALIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 297 AUSTRALIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 298 AUSTRALIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 299 AUSTRALIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 300 AUSTRALIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 301 AUSTRALIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 302 AUSTRALIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 303 AUSTRALIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 304 AUSTRALIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 305 AUSTRALIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.6.8 SINGAPORE
                        13.6.8.1 Focus on strengthening military capabilities to fuel market
                                     TABLE 306 SINGAPORE: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 307 SINGAPORE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 308 SINGAPORE: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 309 SINGAPORE: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 310 SINGAPORE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 311 SINGAPORE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 312 SINGAPORE: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 313 SINGAPORE: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 314 SINGAPORE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 315 SINGAPORE: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.6.9 INDONESIA
                        13.6.9.1 Modernizing armed forces to act as major driver of market
                                     TABLE 316 INDONESIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 317 INDONESIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 318 INDONESIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 319 INDONESIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 320 INDONESIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 321 INDONESIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 322 INDONESIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 323 INDONESIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 324 INDONESIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 325 INDONESIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.6.10 VIETNAM
                        13.6.10.1 Growth in military capabilities to support ammunition market
                                     TABLE 326 VIETNAM: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 327 VIETNAM: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 328 VIETNAM: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 329 VIETNAM: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 330 VIETNAM: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 331 VIETNAM: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 332 VIETNAM: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 333 VIETNAM: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 334 VIETNAM: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 335 VIETNAM: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.6.11 REST OF ASIA PACIFIC
                        TABLE 336 REST OF ASIA PACIFIC: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 337 REST OF ASIA PACIFIC: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 338 REST OF ASIA PACIFIC: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 339 REST OF ASIA PACIFIC: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 340 REST OF ASIA PACIFIC: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 341 REST OF ASIA PACIFIC: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 342 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 343 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 344 REST OF ASIA PACIFIC: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                        TABLE 345 REST OF ASIA PACIFIC: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
     13.7 AFRICA 
             13.7.1 PESTLE ANALYSIS
             13.7.2 RECESSION IMPACT ANALYSIS
                        TABLE 346 AFRICA: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 347 AFRICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 348 AFRICA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 349 AFRICA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 350 AFRICA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 351 AFRICA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 352 AFRICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 353 AFRICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 354 AFRICA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 355 AFRICA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 356 AFRICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 357 AFRICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 358 AFRICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 359 AFRICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 360 AFRICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 361 AFRICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 362 AFRICA: MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 363 AFRICA: MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 364 AFRICA: MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 365 AFRICA: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 366 AFRICA: MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 367 AFRICA: MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 368 AFRICA: MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 369 AFRICA: MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.7.3 SOUTH AFRICA
                        13.7.3.1 Rise in defense exports to drive market
                                     TABLE 370 SOUTH AFRICA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 371 SOUTH AFRICA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 372 SOUTH AFRICA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 373 SOUTH AFRICA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 374 SOUTH AFRICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 375 SOUTH AFRICA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 376 SOUTH AFRICA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 377 SOUTH AFRICA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 378 SOUTH AFRICA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 379 SOUTH AFRICA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.7.4 EGYPT
                        13.7.4.1 Replacement of aging military equipment to drive market
                                     TABLE 380 EGYPT: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 381 EGYPT: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 382 EGYPT: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 383 EGYPT: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 384 EGYPT: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 385 EGYPT: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 386 EGYPT: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 387 EGYPT: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 388 EGYPT: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 389 EGYPT: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.7.5 ALGERIA
                        13.7.5.1 Focus on indigenous development of ammunitions to drive market
                                     TABLE 390 ALGERIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 391 ALGERIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 392 ALGERIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 393 ALGERIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 394 ALGERIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 395 ALGERIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 396 ALGERIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 397 ALGERIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 398 ALGERIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 399 ALGERIA: SMALL-CALIBER AMMUNITION MARKET FOR MILITARY, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
     13.8 MIDDLE EAST 
             13.8.1 PESTLE ANALYSIS
             13.8.2 RECESSION IMPACT ANALYSIS
                        FIGURE 51 MIDDLE EAST: MARKET SNAPSHOT
                        TABLE 400 MIDDLE EAST: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 401 MIDDLE EAST: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 402 MIDDLE EAST: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 403 MIDDLE EAST: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 404 MIDDLE EAST: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 405 MIDDLE EAST: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 406 MIDDLE EAST: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 407 MIDDLE EAST: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 408 MIDDLE EAST: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 409 MIDDLE EAST: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 410 MIDDLE EAST: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 411 MIDDLE EAST: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 412 MIDDLE EAST: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 413 MIDDLE EAST: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 414 MIDDLE EAST: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 415 MIDDLE EAST: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 416 MIDDLE EAST: MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 417 MIDDLE EAST: MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 418 MIDDLE EAST: MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 419 MIDDLE EAST: MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 420 MIDDLE EAST: MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 421 MIDDLE EAST: MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 422 MIDDLE EAST: MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 423 MIDDLE EAST: MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.8.3 SAUDI ARABIA
                        13.8.3.1 Increased defense spending to drive market
                                     TABLE 424 SAUDI ARABIA: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 425 SAUDI ARABIA: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 426 SAUDI ARABIA: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 427 SAUDI ARABIA: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 428 SAUDI ARABIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 429 SAUDI ARABIA: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 430 SAUDI ARABIA: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 431 SAUDI ARABIA: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 432 SAUDI ARABIA: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 433 SAUDI ARABIA: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 434 SAUDI ARABIA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2020–2022 (MILLION UNIT)
                                     TABLE 435 SAUDIA ARABIA: MILITARY SMALL-CALIBER AMMUNITION MARKET, BY ROUNDS CONSUMPTION, 2023–2028 (MILLION UNIT)
             13.8.4 TURKEY
                        13.8.4.1 Focus on strengthening its armed forces to fuel market
                                     TABLE 436 TURKEY: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 437 TURKEY:: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 438 TURKEY: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 439 TURKEY: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 440 TURKEY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 441 TURKEY: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 442 TURKEY: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 443 TURKEY: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 444 TURKEY: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 445 TURKEY: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.8.5 ISRAEL
                        13.8.5.1 Rising conflict with Hamas and military partnership with US to drive market
                                     TABLE 446 ISRAEL: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 447 ISRAEL: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 448 ISRAEL: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 449 ISRAEL: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 450 ISRAEL: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 451 ISRAEL: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 452 ISRAEL: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 453 ISRAEL: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 454 ISRAEL: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 455 ISRAEL: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.8.6 UAE
                        13.8.6.1 Rise in government contracts for ammunition to drive market
                                     TABLE 456 UAE: MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 457 UAE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 458 UAE: MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 459 UAE: MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 460 UAE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 461 UAE: MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 462 UAE: MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 463 UAE: MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 464 UAE: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 465 UAE: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.8.7 REST OF MIDDLE EAST
                        TABLE 466 REST OF MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 467 REST OF MIDDLE EAST: AMMUNITION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 468 REST OF MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 469 REST OF MIDDLE EAST: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 470 REST OF MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 471 REST OF MIDDLE EAST: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 472 REST OF MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 473 REST OF MIDDLE EAST: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 474 REST OF MIDDLE EAST: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                        TABLE 475 REST OF MIDDLE EAST: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
     13.9 LATIN AMERICA 
             13.9.1 PESTLE ANALYSIS
             13.9.2 RECESSION IMPACT ANALYSIS
                        FIGURE 52 LATIN AMERICA: AMMUNITION MARKET SNAPSHOT
                        TABLE 476 LATIN AMERICA: AMMUNITION MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                        TABLE 477 LATIN AMERICA: AMMUNITION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                        TABLE 478 LATIN AMERICA: AMMUNITION MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                        TABLE 479 LATIN AMERICA: AMMUNITION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 480 LATIN AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 481 LATIN AMERICA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 482 LATIN AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 483 LATIN AMERICA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 484 LATIN AMERICA: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                        TABLE 485 LATIN AMERICA: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                        TABLE 486 LATIN AMERICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 487 LATIN AMERICA: SMALL-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 488 LATIN AMERICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 489 LATIN AMERICA: MEDIUM-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 490 LATIN AMERICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2020–2022 (USD MILLION)
                        TABLE 491 LATIN AMERICA: LARGE-CALIBER AMMUNITION MARKET, BY TYPE, 2023–2028 (USD MILLION)
                        TABLE 492 LATIN AMERICA: AMMUNITION MARKET, BY PRODUCT, 2020–2022 (USD MILLION)
                        TABLE 493 LATIN AMERICA: AMMUNITION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
                        TABLE 494 LATIN AMERICA: AMMUNITION MARKET, BY COMPONENT, 2020–2022 (USD MILLION)
                        TABLE 495 LATIN AMERICA: AMMUNITION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
                        TABLE 496 LATIN AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2020–2022 (USD MILLION)
                        TABLE 497 LATIN AMERICA: AMMUNITION MARKET, BY GUIDANCE MECHANISM, 2023–2028 (USD MILLION)
                        TABLE 498 LATIN AMERICA: AMMUNITION MARKET, BY LETHALITY, 2020–2022 (USD MILLION)
                        TABLE 499 LATIN AMERICA: AMMUNITION MARKET, BY LETHALITY, 2023–2028 (USD MILLION)
             13.9.3 BRAZIL
                        13.9.3.1 Rise in drug abuse and cartel violence to drive market
                                     TABLE 500 BRAZIL: AMMUNITION MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 501 BRAZIL: AMMUNITION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 502 BRAZIL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 503 BRAZIL: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 504 BRAZIL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 505 BRAZIL: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 506 BRAZIL: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 507 BRAZIL: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 508 BRAZIL: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 509 BRAZIL: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.9.4 ARGENTINA
                        13.9.4.1 Focus on strengthening capabilities of armed forces to fuel market
                                     TABLE 510 ARGENTINA: AMMUNITION MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 511 ARGENTINA: AMMUNITION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 512 ARGENTINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 513 ARGENTINA: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 514 ARGENTINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 515 ARGENTINA: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 516 ARGENTINA: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 517 ARGENTINA: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 518 ARGENTINA: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 519 ARGENTINA: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
             13.9.5 MEXICO
                        13.9.5.1 Presence of drug cartels and increase in drug trafficking to drive demand for small-caliber ammunition
                                     TABLE 520 MEXICO: AMMUNITION MARKET, BY APPLICATION, 2020–2022 (USD MILLION)
                                     TABLE 521 MEXICO: AMMUNITION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                                     TABLE 522 MEXICO: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 523 MEXICO: AMMUNITION MARKET FOR DEFENSE, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 524 MEXICO: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2020–2022 (USD MILLION)
                                     TABLE 525 MEXICO: AMMUNITION MARKET FOR CIVIL & COMMERCIAL, BY TYPE, 2023–2028 (USD MILLION)
                                     TABLE 526 MEXICO: AMMUNITION MARKET, BY CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 527 MEXICO: AMMUNITION MARKET, BY CALIBER, 2023–2028 (USD MILLION)
                                     TABLE 528 MEXICO: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2020–2022 (USD MILLION)
                                     TABLE 529 MEXICO: SMALL-CALIBER AMMUNITION MARKET, BY NATO GRADE CALIBER, 2023–2028 (USD MILLION)
 
14 COMPETITIVE LANDSCAPE (Page No. - 316)
     14.1 INTRODUCTION 
     14.2 KEY PLAYERS STRATEGIES 
             TABLE 530 OVERVIEW OF STRATEGIES ADOPTED BY KEY AMMUNITION MARKET PLAYERS
     14.3 RANKING ANALYSIS 
             FIGURE 53 MARKET RANKING OF KEY PLAYERS, 2022
     14.4 MARKET SHARE ANALYSIS, 2022 
             FIGURE 54 MARKET SHARE OF KEY PLAYERS, 2022
             TABLE 531 AMMUNITION MARKET: DEGREE OF COMPETITION
     14.5 REVENUE ANALYSIS, 2020–2022 
             FIGURE 55 REVENUE ANALYSIS OF KEY PLAYERS, 2020–2022 (USD MILLION)
     14.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             14.6.1 STARS
             14.6.2 EMERGING LEADERS
             14.6.3 PERVASIVE PLAYERS
             14.6.4 PARTICIPANTS
                        FIGURE 56 COMPANY EVALUATION MATRIX, 2022
             14.6.5 COMPANY FOOTPRINT
                        FIGURE 57 COMPANY FOOTPRINT
                        TABLE 532 AMMUNITION MARKET: APPLICATION FOOTPRINT
                        TABLE 533 AMMUNITION MARKET: REGION FOOTPRINT
                        TABLE 534 AMMUNITION MARKET: CALIBER FOOTPRINT
     14.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             14.7.1 PROGRESSIVE COMPANIES
             14.7.2 RESPONSIVE COMPANIES
             14.7.3 DYNAMIC COMPANIES
             14.7.4 STARTING BLOCKS
                        FIGURE 58 STARTUPS/SMES EVALUATION MATRIX, 2022
             14.7.5 COMPETITIVE BENCHMARKING
                        TABLE 535 AMMUNITION MARKET: KEY STARTUPS/SMES
                        TABLE 536 AMMUNITION MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]
     14.8 COMPANY VALUATION AND FINANCIAL METRICS 
             FIGURE 59 AMMUNITION MARKET: COMPANY VALUATION, 2022
             FIGURE 60 AMMUNITION MARKET: COMPANIES FINANCIAL METRICS, 2022
             FIGURE 61 AMMUNITION MARKET: PRODUCT COMPARISON OF KEY PLAYERS
     14.9 COMPETITIVE SCENARIO 
             14.9.1 DEALS
                        TABLE 537 AMMUNITION MARKET: DEALS, JANUARY 2020– JANUARY 2024
             14.9.2 OTHER DEVELOPMENTS
                        TABLE 538 AMMUNITION MARKET: OTHER DEVELOPMENTS, JANUARY 2020– JANUARY 2024
 
15 COMPANY PROFILES (Page No. - 334)
     15.1 INTRODUCTION 
     15.2 KEY PLAYERS 
(Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Right to win, Strategic choices made, and Weaknesses and Competitive threats)*  
             15.2.1 BAE SYSTEMS
                        TABLE 539 BAE SYSTEMS: COMPANY OVERVIEW
                        FIGURE 62 BAE SYSTEMS: COMPANY SNAPSHOT
                        TABLE 540 BAE SYSTEMS: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 541 BAE SYSTEMS: DEALS
                        TABLE 542 BAE SYSTEMS: OTHER DEVELOPMENTS
             15.2.2 NAMMO AS
                        TABLE 543 NAMMO AS: COMPANY OVERVIEW
                        FIGURE 63 NAMMO AS: COMPANY SNAPSHOT
                        TABLE 544 NAMMO AS: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 545 NAMMO AS: DEALS
                        TABLE 546 NAMMO AS.: OTHER DEVELOPMENTS
             15.2.3 NORTHROP GRUMMAN
                        TABLE 547 NORTHROP GRUMMAN: COMPANY OVERVIEW
                        FIGURE 64 NORTHROP GRUMMAN: COMPANY SNAPSHOT
                        TABLE 548 NORTHROP GRUMMAN: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 549 NORTHROP GRUMMAN: OTHER DEVELOPMENTS
             15.2.4 GENERAL DYNAMICS CORPORATION
                        TABLE 550 GENERAL DYNAMICS CORPORATION: COMPANY OVERVIEW
                        FIGURE 65 GENERAL DYNAMICS CORPORATION: COMPANY SNAPSHOT
                        TABLE 551 GENERAL DYNAMICS CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 552 GENERAL DYNAMICS CORPORATION: OTHER DEVELOPMENTS
             15.2.5 THALES
                        TABLE 553 THALES: COMPANY OVERVIEW
                        FIGURE 66 THALES: COMPANY SNAPSHOT
                        TABLE 554 THALES: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 555 THALES: OTHER DEVELOPMENTS
             15.2.6 ELBIT SYSTEMS LTD.
                        TABLE 556 ELBIT SYSTEMS LTD.: COMPANY OVERVIEW
                        FIGURE 67 ELBIT SYSTEMS LTD.: COMPANY SNAPSHOT
                        TABLE 557 ELBIT SYSTEMS LTD: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 558 ELBIT SYSTEMS LTD: OTHER DEVELOPMENTS
             15.2.7 OLIN CORPORATION
                        TABLE 559 OLIN CORPORATION: COMPANY OVERVIEW
                        FIGURE 68 OLIN CORPORATION: COMPANY SNAPSHOT
                        TABLE 560 OLIN CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 561 OLIN CORPORATION.: OTHER DEVELOPMENTS
             15.2.8 RHEINMETALL AG
                        TABLE 562 RHEINMETALL AG: COMPANY OVERVIEW
                        FIGURE 69 RHEINMETALL AG: COMPANY SNAPSHOT
                        TABLE 563 RHEINMETALL AG: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 564 RHEINMETALL AG.: OTHER DEVELOPMENTS
             15.2.9 AMMO, INC.
                        TABLE 565 AMMO, INC: COMPANY OVERVIEW
                        FIGURE 70 AMMO, INC.: COMPANY SNAPSHOT
                        TABLE 566 AMMO, INC.: PRODUCT/SOLUTIONS/SERVICES OFFERED
                        TABLE 567 AMMO INC.: OTHER DEVELOPMENTS
             15.2.10 CHEMRING GROUP PLC
                        TABLE 568 CHEMRING GROUP PLC: COMPANY OVERVIEW
                        FIGURE 71 CHEMRING GROUP PLC: COMPANY SNAPSHOT
                        TABLE 569 CHEMIRING GROUP PLC: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.11 DENEL SOC LTD
                        TABLE 570 DENEL SOC LTD: COMPANY OVERVIEW
                        TABLE 571 DENEL SOC LTD: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.12 POONGSAN CORPORATION
                        TABLE 572 POONGSAN CORPORATION: COMPANY OVERVIEW
                        FIGURE 72 POONGSAN CORPORATION: COMPANY SNAPSHOT
                        TABLE 573 POONGSAN CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.13 ADANI DEFENCE AND AEROSPACE
                        TABLE 574 ADANI DEFENCE AND AEROSPACE: COMPANY OVERVIEW
                        TABLE 575 ADANI DEFENCE AND AEROSPACE: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.14 ST ENGINEERING
                        TABLE 576 ST ENGINEERING: COMPANY OVERVIEW
                        FIGURE 73 ST ENGINEERING: COMPANY SNAPSHOT
                        TABLE 577 ST ENGINEERING: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.15 VISTA OUTDOOR OPERATIONS LLC
                        TABLE 578 VISTA OUTDOOR OPERATIONS LLC: COMPANY OVERVIEW
                        FIGURE 74 VISTA OUTDOOR OPERATIONS LLC: COMPANY SNAPSHOT
                        TABLE 579 VISTA OUTDOOR OPERATIONS LLC: PRODUCTS OFFERED
                        TABLE 580 VISTA OUTDOOR OPERATIONS LLC: DEALS
                        TABLE 581 VISTA OUTDOOR OPERATIONS LLC: OTHER DEVELOPMENTS
             15.2.16 FIOCCHI MUNIZIONI SPA
                        TABLE 582 FIOCCHI MUNIZIONI SPA: COMPANY OVERVIEW
                        TABLE 583 FIOCCHI MUNIZIONI SPA: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.17 HERSTAL GROUP
                        TABLE 584 HERSTAL GROUP: COMPANY OVERVIEW
                        TABLE 585 HERSTAL GROUP: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.18 HORNADY
                        TABLE 586 HORNADY: COMPANY OVERVIEW
                        TABLE 587 HORNADY: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.19 NEXTER GROUP
                        TABLE 588 NEXTER GROUP: COMPANY OVERVIEW
                        TABLE 589 NEXTER GROUP: PRODUCT/SOLUTIONS/SERVICES OFFERED
             15.2.20 CBC GLOBAL AMMUNITION
                        TABLE 590 CBC GLOBAL AMMUNITION: COMPANY OVERVIEW
                        TABLE 591 CBC GLOBAL AMMUNITION: PRODUCT/SOLUTIONS/SERVICES OFFERED
     15.3 OTHER PLAYERS 
             15.3.1 NORINCO
                        TABLE 592 NORINCO: COMPANY OVERVIEW
             15.3.2 REMINGTON AMMUNITION
                        TABLE 593 REMINGTON AMMUNITION: COMPANY OVERVIEW
             15.3.3 ROSOBORONEXPORT
                        TABLE 594 ROSOBORONEXPORT: COMPANY OVERVIEW
             15.3.4 SIERRA BULLETS
                        TABLE 595 SIERRA BULLETS: COMPANY OVERVIEW
             15.3.5 SIG SAUER
                        TABLE 596 SIG SAUER: COMPANY OVERVIEW
             15.3.6 YUGOIMPORT SDPR J.P.
                        TABLE 597 YUGOIMPORT SDPR J.P.: COMPANY OVERVIEW
*Details on Business overview, Products/Solutions/Services offered, Recent developments, MnM view, Right to win, Strategic choices made, and Weaknesses and Competitive threats might not be captured in case of unlisted companies.  
 
16 APPENDIX (Page No. - 398)
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This research study conducted on the ammunition market involved extensive use of secondary sources, directories, and databases such as D&B Hoovers, the Global Firepower, the Small Arms Survey, UN COMTRADE, and Factiva to identify and collect information relevant to the ammunition market. Details regarding the procurement and consumption patterns of military and law enforcement applications in terms of contracts, supply agreements, and joint ventures, among others, were also available only for a limited set of countries.

Thus, manufacturer websites and annual reports, published news articles, defense blogs, government publications of different countries, and documents published by RAND Corporation (US), among others, were also referred to and used as a part of secondary research during the course of the study.

Primary sources considered included industry experts from the concerned market as well as preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of the value chain of this industry. Ammunition is a sensitive topic, and therefore, several challenges were faced while conducting primary research.

Secondary Research

The share of companies in the ammunition market was determined using secondary data made available through paid and unpaid sources and by analyzing product portfolios of major companies operating in the market. These companies were rated based on the performance and quality of their products. These data points were further validated by primary sources.

Secondary sources that were referred to for this research study on the ammunition market included government sources such as the US Department of Defense (DoD); defense budgets; military modernization program documents; corporate filings such as annual reports, investor presentations, and financial statements; and trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the ammunition market, which was further validated by primary respondents.

Primary Research

Extensive primary research was conducted after obtaining information about the current scenario of the ammunition market through secondary research. Several primary interviews were conducted with market experts from both demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa. This primary data was collected through questionnaires, emails, and telephonic interviews.

Ammunition Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Ammunition Market
 Size, and Share

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the ammunition market. The following figure offers a representation of the overall market size estimation process employed for the purpose of this study on the ammunition market.

The research methodology used to estimate the market size included the following details:

  • Key players in the ammunition market were identified through secondary research, and their market share was determined through primary and secondary research. This included the study of annual and financial reports of top market players and extensive interviews of leaders such as Chief Executive Officers (CEOs), directors, and marketing executives of leading companies operating in the ammunition market.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data on the ammunition market. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.

Ammunition Market Size: Bottom-Up Approach

Ammunition Market
 Size, and Bottom-Up Approach

Ammunition Market Size: Top-Down Approach

Ammunition Market
 Size, and Top-Down Approach

Data Triangulation

After arriving at the overall size of the ammunition market from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented wherever applicable to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments.

The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using both top-down and bottom-up approaches. The following figure indicates the market breakdown structure and data triangulation procedure that was implemented in the market engineering process to make this report on the ammunition market.

Ammunition Market
 Size, and Data Triangulation

Market Definition

Ammunition is fired, scattered, or dropped from a weapon or a weapon system. It can be broadly classified into four categories: Small-Caliber ammunition, Medium-Caliber ammunition, Large-Caliber ammunition, and others. Ammunition is mainly procured by military and law enforcement agencies such as state police and federal police. Small-caliber ammunition is used by civilians in hunting, sports activities, and self-defense applications.

The small-caliber ammunition category includes rounds that are 5.56 mm, 7.62 mm, 12.7 mm, and 14.5 mm in size, while the Medium-Caliber ammunition includes rounds that are 20 mm, 25 mm, 30 mm, and 40 mm in size. The large-caliber ammunition category includes mortar shells, tank ammunition, and artillery shells of size 60 mm, 81 mm, 120 mm, 122 mm, and 155 mm. Illumination rounds, hand grenades, and rubber bullets are being considered under other categories. Illumination rounds and hand grenades are not launched as weapons in the air but are thrown or manually lit at targets.

Key Stakeholders

Various stakeholders of the market are listed below:

  • Armed Forces
  • Defense Regulatory Bodies
  • Law Enforcement Agencies
  • Home Ministries/Ministries of Interior
  • Ammunition Manufacturers
  • Component Manufacturers
  • Distributors and Suppliers
  • Research Organizations, Forums, Alliances, and Associations
  • Sporting and Hunting Associations

Report Objectives

  • To define, describe, segment, and forecast the size of the ammunition market in terms of value based on application, caliber, guidance mechanism, product, component, lethality, and region from 2023 to 2028
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the ammunition market
  • To forecast the size of various segments of the ammunition market with respect to six major regions: North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa
  • To identify the opportunities for stakeholders in the market by identifying key market and technology trends
  • To analyze competitive developments such as contracts, agreements, acquisitions & partnerships, product launches & developments, and research & development (R&D) activities in the ammunition market
  • To anticipate the status of the ammunition procurements by different countries, the number of their military personnel, their defense spending; technological advancements in ammunition; and joint developments undertaken by leading players to analyze the degree of competition in the market.
  • To provide a comprehensive competitive landscape of the ammunition market, along with an overview of the different strategies adopted by the key market players to strengthen their position in the market

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Market sizing and forecast for additional countries
  • By application, by caliber breakdown at country level
  • Additional five companies profiling
  • Volume analysis of medium and large-caliber ammunition

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company in the ammunition Market
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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