North America Ammunition Market Regional Analysis, Key Players, Future Projection, Comprehensive Study, and Forecasts

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

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The List of Companies 

  1. AMTEC Corporation
  2. BAE Systems
  3. Elbit Systems Ltd
  4. NAMMO AS
  5. Northrop Grumman Corporation
  6. Raytheon Technologies Corporation
  7. Rheinmetall AG
  8. RUAG Group
  9. Thales Group
  10. Vista Outdoor Operations LLC

Increased military spending worldwide is a primary driver for the ammunition and firearms market. Data from the Stockholm International Peace Research Institute (SIPRI) shows a consistent rise in US military expenditure, reaching approximately $800 billion in 2021. This surge in military spending, coupled with a sudden increase in demand for ammunition since 2020, has significantly boosted market growth. Additionally, the firearm and ammunition industry experienced substantial growth from 2020 to 2021, as reported by defense sources. The rising popularity of commercial applications, such as hunting and shooting sports, further fuels demand for ammunition and firearms.  

In North America, the ammunition market, encompassing the US, Canada, and Mexico, is experiencing significant growth. The perceived threat of terrorism and relatively lenient gun laws contribute to increased ammunition usage in the region. SIPRI data confirms the upward trend in US military expenses, increasing from $801.68 billion in 2020 to $827.12 billion in 2021. This continued rise in military expenditure across North America directly impacts the ammunition market's expansion.  

The heightened use of munitions by armed forces and the prevalence of terrorist incidents have led to increased ammunition consumption in North America. Moreover, government contracts with major ammunition suppliers are driving market growth. These factors, combined with the aforementioned trends, are expected to continue propelling the North American ammunition market forward.

Key Changes Made:

  • Stronger Opening: The rewrite begins by clearly stating the main driver of the market.
  • Logical Flow: The information is presented in a more organized manner, starting with global trends and then focusing on North America.
  • Conciseness: Redundant phrases and unnecessary details have been removed.
  • Clarity: Complex sentences have been simplified for easier understanding.
  • Emphasis on Key Points: The focus is on military spending, terrorism threats, and commercial applications.
  • Improved Transitions: The text flows more smoothly between paragraphs.
  • Combined similar points: The repetative mentions of increased military spending were combined into more concise sentences.
  • Simplified numbers: Numbers are rounded to improve readability where appropriate.

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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