North America Ammunition Market Regional
Outlook and Key Players- 2028

The North
America Ammunition Market 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. 

Increased Military Spending Drives Global Ammunition
Demand

A significant factor fueling the global ammunition market is
the escalating military expenditure worldwide. Data from the Stockholm
International Peace Research Institute (SIPRI) illustrates this trend, with
U.S. military spending rising from approximately $734 billion in 2019 to $800
billion in 2021. This surge, particularly since 2020, has directly increased
demand for ammunition. Furthermore, the firearm and ammunition industry
experienced substantial growth between 2020 and 2021, as reported by various defense
sources, leading to increased procurement. Additionally, the rising popularity
of commercial activities such as hunting and shooting sports has further
stimulated demand for ammunition and firearms.

North America Ammunition Market Overview

The North America ammunition market, encompassing the U.S.,
Canada, and Mexico, is characterized by several key factors. The region's
growing concerns regarding terrorism and relatively lenient gun regulations
contribute to increased ammunition usage. SIPRI data highlights the consistent
upward trend in U.S. military spending, increasing from $801.68 billion in 2020
to $827.12 billion in 2021. This sustained rise in military budgets across
North America directly influences the growth of the regional ammunition market.

Moreover, the elevated utilization of munitions by armed
forces and a high incidence of terrorist activities have propelled ammunition
demand in North America. Government and private sector contracts between major
ammunition manufacturers and North American entities are further driving market
expansion.

North America Ammunition Market Segments Covered

North America Ammunition Market By Product

• Bullets


• Aerial
  Bombs


• Grenades


• Artillery
  Shells


• Mortars

North America Ammunition Market By Application

• Defense
  and Commercial

By Guidance

• Guided
  and Non-Guided

By Lethality

• Non-Lethal
  and Lethal

By Caliber

• Small
  Caliber Ammunition


• Medium
  Caliber Ammunition


• Large
  Caliber Ammunition

North America Ammunition Market Regions and Countries
Covered

North America

• US


• Canada


• Mexico

North America Ammunition Market leaders and key company
profiles

• AMTEC
  Corporation


• BAE
  Systems


• Elbit
  Systems Ltd


• NAMMO
  AS


• Northrop
  Grumman Corporation


• Raytheon
  Technologies Corporation


• Rheinmetall
  AG


• RUAG
  Group


• Thales
  Group


• Vista
  Outdoor Operations LLC

Strategic Insights for the North America Ammunition
Market

A data-driven analysis of the North America ammunition
market provides crucial strategic insights into industry trends, key players,
and regional variations. These insights enable businesses to gain a competitive
edge by identifying untapped market segments and developing unique value
propositions. By leveraging data analytics, stakeholders can anticipate market
shifts, whether they are investors, manufacturers, or other industry
participants. A forward-looking perspective is essential for navigating this
dynamic region and achieving long-term success. Ultimately, these strategic
insights empower informed decision-making, driving profitability and achieving
business objectives.

Regional Insights: Tailoring Strategies for North America
Ammunition Market

Understanding the specific geographic scope of the North
America ammunition market is critical for businesses operating within the
region. Local distinctions, such as varying consumer preferences (e.g.,
specific ammunition types or calibers), diverse economic conditions, and
differing regulatory environments, necessitate tailored strategies. Businesses
can expand their market reach by identifying underserved areas or adapting
product offerings to meet local demands. A focused market approach enables
efficient resource allocation, targeted marketing campaigns, and improved
positioning against local competitors, ultimately driving growth in targeted
markets.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market
Insights