North America Ammunition Market

The ammunition market in North America is expected to grow from US$ 14,420.06 million in 2022 to US$ 23,144.92 million by 2028. It is estimated to grow at a CAGR of 8.2% from 2022 to 2028. 

Surge in Military Spending Promotes Procurement of Ammunitions 

The rise in military expenditure is one of the major factors that is promoting the procurement of ammunition and guns worldwide. For instance, according to the SIPRI data, the US spent ~US$ 734 billion, US$ 778 billion, and US$ 800 billion in its military expenditure in 2019, 2020, and 2021, respectively. The sudden increase in demand for ammunition since 2020 is also driving the ammunition market growth. The firearm & ammunition industry witnessed huge increase from 2020 to 2021, according to several defense sources that have increased the procurement of ammunition. Moreover, commercial applications such as hunting and other shooting sports have witnessed a rise in demand for ammunition and firearms, which is catalyzing the ammunition industry. 

Market Overview 

Based on country, the North America ammunition market is segmented into the US, Canada, and Mexico. The growing threat from terrorism and lenient gun laws are expected to promote the usage of bullets in the region. Over the years, according to the data published by Stockholm International Peace Research Institute (SIPRI), the US recorded an increase in military expenses, from US$ 801.68 billion in 2020 to US$ 827.12 billion in 2021. The increase in military expenditure by North American countries influences the growth of the North American ammunition market. 

Increased use of munitions by armed forces and a high number of terrorist incidents led to more use of ammo in North America, which are expected to boost the ammunition market growth in the region. North American government and companies has entered into numerous contracts with major ammunition market players for the supply of ammunition, thereby driving the growth of the ammunition market in the region. 

North America Ammunition Market Revenue and Forecast to 2028 (US$ Million) 

North America Ammunition Strategic Insights

Strategic insights for the North America Ammunition provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Ammunition Report Scope

North America Ammunition Regional Insights

The geographic scope of the North America Ammunition refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Ammunition Market Segmentation 

The North America ammunition market is segmented into product, application, guidance, lethality, caliber, and country. 

The North America ammunition market, by product type, is segmented into bullets, aerial bombs, grenades, artillery shells, mortars, and others. In 2021, the aerial bombs segment dominated market. 

The ammunition market by application is segmented into defense and commercial. In 2021, the defense segment dominated the North America ammunition market. 

The North America ammunition market, by guidance, is segmented into guided and non-guided. In 2021, the guided segment held a larger market share in 2021. 

The North America ammunition market by lethality is segmented into non-lethal and lethal. In 2021, the lethal segment held a larger market share in 2021. 

The North America ammunition market, by caliber, is segmented into small caliber ammunitions, medium caliber ammunitions, and large caliber ammunitions. In 2021, the large caliber ammunitions segment held the largest market share in 2021. 

Based on country, the market is segmented into the US, Canada, and Mexico. The Us dominated the market in 2021. AMTEC Corporation, BAE Systems, Elbit Systems Ltd, NAMMO AS, Northrop Grumman Corporation, Raytheon Technologies Corporation, Rheinmetall AG, RUAG Group, Thales Group, and Vista Outdoor Operations LLC are the leading companies operating in the ammunition market in the region.