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.
Surge in Military Spending Drives Global Ammunition Procurement
The increase in military expenditure is a key factor fueling the global demand for ammunition and firearms. For example, SIPRI data shows that U.S. military spending rose from approximately 734 billionin 2019 to 800 billion in 2021. The sharp uptick in ammunition demand since 2020 has significantly boosted market growth. Defense reports indicate a substantial rise in ammunition procurement between 2020 and 2021. Additionally, the growing popularity of commercial activities such as hunting and shooting sports has further accelerated industry expansion.
Market Overview
The North America ammunition market is segmented into the U.S., Canada, and Mexico. Factors such as rising terrorism threats and relaxed firearm regulations are expected to drive bullet usage in the region. According to SIPRI, U.S. military spending increased from 801.68 billion in 2020 to to 827.12 billion in 2021, influencing ammunition market growth.
Heightened munitions consumption by armed forces, coupled with increasing terrorist activities, has led to greater ammunition demand in North America. Governments and private firms in the region have also entered multiple contracts with leading ammunition suppliers, further propelling 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
North America Ammunition Market: Strategic Insights
Strategic insights for the North America ammunition market provide a data-driven analysis of industry trends, competitive dynamics, and regional variations. These insights enable businesses to identify growth opportunities, differentiate themselves from competitors, and develop tailored strategies. By leveraging analytics, stakeholders—including investors, manufacturers, and policymakers—can anticipate market shifts and position themselves for long-term success. A forward-looking approach is critical to navigating this evolving industry and making informed, profitable decisions.
North America Ammunition Market: Regional Insights
The North America ammunition market encompasses the U.S., Canada, and Mexico, each with distinct regulatory, economic, and consumer trends. Understanding regional differences—such as demand variations, local regulations, and economic conditions—is essential for optimizing market strategies. Companies can enhance their market presence by targeting underserved areas or adapting products to meet specific regional needs. A focused regional strategy enables efficient resource allocation, precise marketing, and stronger competitive positioning, ultimately driving sustained growth.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
