Ammunition Industry is anticipated to grow further up to USD 22.96 Billion 2022
Ammunition Industry Data Book Covers Small Caliber Ammunition, Medium Caliber Ammunition and Large Caliber Ammunition Markets. The economic value generated by the ammunition industry was estimated at approximately USD 22.96 billion in 2022. Ammunition Market Report Highlights The global ammunition market size was valued at USD 2.96 billion in 2022, and it is expected to reach USD 29.68 billion by 2030. It is expected to expand at a CAGR of 3.1% CAGR (2023-2030). By caliber, small caliber emerged as the largest segment in 2021 majorly due to a wide range of applications including assault rifles, handguns, and pistons Based on product, the centerfire segment accounted for the largest revenue share in 2021 and is projected to witness the fastest growth over the forecast period as it is defined as a universal standard in most of the defense forces across the globe On the basis of end use, the defense segment emerged as the largest segment in 2021 majorly due to risi...