According to the research report titled ‘Global Ammunition Market 2022-2028’ available with MarketStudyReport, global ammunition market is likely to generate returns worth USD 24,158 million by 2028, progressing at a CAGR of 3.3% during the forecast period.

Changing nature of warfare, rising cases of drug trafficking & terrorist activities, growing militarization of police forces, and the advancements in technologies are prime factors driving the growth of the global ammunition market.

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The data-driven research report focuses on the major development trends of this business vertical, its various segmentation, the regional terrain, and the competitive arena. The research is a significant asset for existing businesses, prospective entrants, and future investors have given that it provides a complete market assessment throughout the major geographies.

The worldwide ammunition marketplace is segmented based on caliber type, product type, end-user scope, and geographical landscape.

Based on caliber type, the market is divided into the medium caliber, small caliber, large caliber, rockets, and missiles. The small caliber segment accounted for the largest market share in 2021 and is anticipated to have a healthy growth rate during the forecast period owing to changing nature of warfare and rapid militarization of police forces.

Moving forward with the product spectrum, global ammunition industry is split into centerfire and rimfire segments. In terms of the end-user segment, the market is bifurcated into civil, commercial, and defense.

Based on the geographical landscape, this business sphere is segmented into North America, Asia Pacific, Europe, and the rest of the world.

The key players formulating the competitive landscape of global ammunition marketplace are BAE Systems plc, Chemring Group PLC, CBC AMMO LLC, Denel SOC Ltd., General Dynamics Corporation, Fabrique Nationale Herstal, Nammo AS, Hanwha Corporation, Nexter (KNDS Group), Nosler Inc., Northrop Grumman Corporation, Olin Corporation, Remington Arms Company LLC, Poongsan Corporation, RUAG International Holding AG, Rheinmetall AG, Singapore Technologies Engineering Ltd., Sierra Bullets Inc., and Starline Brass Inc., among others.