The Global Ammunition Market size is projected to grow from USD 21.1 billion in 2020 to USD 25.2 billion by 2025, at a CAGR of 3.8% from 2020 to 2025.
Some of major manufactures in the Ammunition Market includes, Northrop Grumman, FN Herstal, Nammo AS, Australian Munitions, CBC Ammo Group, Israel Military Industries Systems (IMI), BAE Systems PLC, General Dynamics, Denel Soc Ltd., Liberty Ammunition, Olin Corporation.
In July 2020, Northrop Grumman Corporation secured a contract from the US Army to deliver the next-generation airburst cartridge for the 30mm XM813 Bushmaster Chain Gun. The Bushmaster Chain Gun will be installed on the Stryker Infantry Carrier Vehicle (ICV). Also, the company has secured a contract worth USD 93 million from the US Army for the manufacture of multipurpose munitions technology for destroying targets such as lightly armored infantry fighting vehicles. The munitions are expected to be compatible with the M4A1 rifle.
The Indian Army is reportedly planning to acquire additional Excalibur precision-guided ammunition for M-777 Ultra-Light Howitzer guns from the US. Northrop Grumman an interceptor missile is launched in May 2020, by U.S army soldiers at white Sands Missile range during Flight Test 5(FT-5), the most sophisticated and difficult developments test yet for the army’s integrated Air and Missile Defense (IAMD) Battle Command System (IBCS), developed by Northrop Grumman. IBCS was used to continuously track two incoming surrogate cruise missile threats and launch two interceptor missiles to successfully destroy them.
Industry experts have stated that the COVID-19 pandemic has not affected the demand for ammunition in the defense sector for the US. US Department of Defense (DOD) has asked the manufactures to continue with product activities related to ammunition. However, some change has been observed in demand for ammunition in civil & commercial applications, especially in sporting and hunting activities. The demand for ammunition for self-defense applications has increased to a greater extent. According to the New York Times published in April 2020, “About 2 Million Guns Were Sold in the US as Virus Fears Spread,” which showcases the increased ammunition demands for self-defense applications. New launch rifer in 2020, In a radical departure from traditional cartridge design, Sig Sauer 277 has put together a new and extremely hot cartridge. It’s an intriguing story, but the short of it is that the Fury was developed for military use. The parent cartridge was a .308 and the case itself is made of three-pieces rather than the common one-piece of brass we’re all used to. The forward section of the cartridge is made of brass, whiles the rear, and case head, are made of stainless steel. A third piece mechanically links the two together.
Market Segmentation is carried out by product, by application And Region wise. By Product (Bullets, Aerial Bombs, Grenades, Artillery Shells, Mortars). By application Defense (Military and Homeland Security), Civil & Commercial (Sporting, Hunting, Self-defense).By region (North America, Europe, Asia-Pacific and LAMEA). North American countries are awarding a number of contracts to major players of the ammunition market for the delivery of ammunition, thus driving the growth of the ammunition market in the region.
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