Summary

The ammunition market was valued at USD 31.17 billion in 2025 and is projected to grow from USD 34.81 billion in 2026 to USD 66.06 billion by 2031, at a CAGR of 13.7% during the forecast period. The market is growing due to higher defense budgets and increased purchases by military and law enforcement or homeland security agencies. Ongoing conflicts and security concerns are leading to regular stockpile replacement and steady training demand. The governments of various countries across the world are increasing local production to secure supply and reduce reliance on imports. In addition, modernization efforts are also raising demand for better and more accurate ammunition across small, medium, and large calibers, supporting stable market growth.

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“By end user, the military segment is projected to be the dominant during the forecast period.”
The military segment is expected to dominate the ammunition market during the forecast period because armed forces use the largest volume of ammunition. Ongoing conflicts, regular training, and stockpile replacement require high purchases across all calibers. Increased defense budgets and upgrading weapon systems raise demand for ammunition in the military segment. Long-term supply contracts and a strong focus on readiness are supporting the military segment’s dominance in the ammunition market by end user.
"By guidance, the guided segment is projected to register the higher CAGR than the non-guided segment during the forecast period."
The guided segment is projected to record the higher CAGR, as military forces increase demand for more accurate ammunition. Precision rounds help improve targeting and reduce unwanted damage. Many countries are upgrading artillery, tank, and rocket systems to use guided ammunition. Improvements in guidance and navigation technology are also making these systems more reliable. Although volumes are lower than non-guided rounds, higher unit prices and rising adoption support faster growth.
“Asia Pacific is projected to have a significant market share during the forecast period.”
Asia Pacific is expected to be one of the leading ammunition markets due to higher defense spending and ongoing military upgrades in major countries. Border tensions and regional security concerns are increasing purchases of small, medium, and large caliber ammunition. Several countries in the region are expanding artillery units, armored forces, and naval capabilities, which increases the need for different ammunition types. Large standing forces and frequent military exercises are also supporting steady demand across the region during the forecast period.
The breakdown of profiles for primary participants in the ammunition market is provided below:

? By Company Type: Tier 1 ? 40%, Tier 2 ? 30%, and Tier 3 ? 30%
? By Designation: Directors ? 20%, Managers ? 10%, and Others ? 70%
? By Region: North America ? 40%, Europe ? 20%, Asia Pacific ? 20%, Middle East ? 10% , Latin America ? 5%, and Africa ? 5%

Research Coverage:
This study covers the ammunition market across various segments and subsegments. It aims to estimate the size and growth potential of this market across different parts and regions. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their products and business offerings, recent developments, and key market strategies they adopted.
Reasons to buy this report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall ammunition market. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the market pulse and will provide information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the following pointers:
? Market drivers (rising defense spending increasing procurement and stockpile replenishment across major economies, ongoing geopolitical tensions and active conflicts sustaining operational ammunition demand), restraints (Stringent export controls and regulatory restrictions limiting international trade, budget allocation limits in certain countries constraining procurement volumes), opportunities (establishment of new domestic production facilities to reduce import dependence, growth in long-term supply agreements for stockpile replacement and lifecycle support), and challenges (fluctuation in raw material and energy costs affecting manufacturing margins, production capacity issues leading to delivery delays during demand surges)

? Market Penetration: Comprehensive information on ammunition offered by the top players in the market

? Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and product launches in the ammunition market

? Market Development: Comprehensive information about lucrative markets across varied regions

? Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ammunition market

? Competitive Assessment: In-depth assessment of market share, growth strategies, products, and manufacturing capabilities of leading players in the ammunition market

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Table of Contents

1 INTRODUCTION 47
1.1 STUDY OBJECTIVES 47
1.2 MARKET DEFINITION 47
1.3 STUDY SCOPE 48
1.3.1 MARKET SEGMENTATION & REGIONAL SNAPSHOT 48
1.4 INCLUSIONS & EXCLUSIONS 49
1.5 YEARS CONSIDERED 49
1.6 CURRENCY CONSIDERED 50
1.7 STAKEHOLDERS 50
1.8 SUMMARY OF CHANGES 50
2 EXECUTIVE SUMMARY 52
2.1 KEY INSIGHTS AND MARKET HIGHLIGHTS 52
2.2 KEY MARKET PARTICIPANTS: MAPPING OF STRATEGIC DEVELOPMENTS 54
2.3 DISRUPTIVE TRENDS IN AMMUNITION MARKET 54
2.4 HIGH GROWTH SEGMENTS 55
2.5 REGIONAL SNAPSHOT: MARKET SIZE, GROWTH RATE, AND FORECAST 56
3 PREMIUM INSIGHTS 57
3.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AMMUNITION MARKET 57
3.2 AMMUNITION MARKET, BY CALIBER 57
3.3 AMMUNITION MARKET, BY END USER 58
3.4 AMMUNITION MARKET, BY COMPONENT 58
3.5 AMMUNITION MARKET, BY GUIDANCE 59
4 MARKET OVERVIEW 60
4.1 INTRODUCTION 60
4.2 MARKET DYNAMICS 60
4.2.1 DRIVERS 61
4.2.1.1 Increase in procurement and stockpile replenishment across major economies due to rising defense spending 61
4.2.1.2 Sustained demand for operational ammunition owing to ongoing geopolitical tensions and active conflicts 61
4.2.1.3 Increasing training activities and force readiness requirements driving steady ammunition consumption 61
4.2.2 RESTRAINTS 62
4.2.2.1 Stringent export controls and regulatory restrictions limiting international trade 62
4.2.2.2 Budget allocation limits in emerging economies constraining procurement volumes 62
4.2.3 OPPORTUNITIES 63
4.2.3.1 Industrial localization & capacity expansion 63
4.2.3.2 Long-term procurement & lifecycle contracting models 63
4.2.4 CHALLENGES 63
4.2.4.1 Fluctuation in raw material and energy costs affecting manufacturing margins 63
4.2.4.2 Production capacity constraints 64
4.3 UNMET NEEDS AND WHITE SPACES IN AMMUNITION MARKET 64
4.4 INTER-CONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES 65
4.5 STRATEGIC MOVES BY TIER 1/2/3 PLAYERS 65
5 INDUSTRY TRENDS 66
5.1 INTRODUCTION 66
5.2 MACROECONOMIC INDICATORS 66
5.2.1 INTRODUCTION 66
5.2.2 GDP TRENDS AND FORECAST 66
5.2.3 TRENDS IN GLOBAL AMMUNITION INDUSTRY 68
5.2.4 TRENDS IN GLOBAL DEFENSE INDUSTRY 68
5.3 VALUE CHAIN ANALYSIS 69
5.4 ECOSYSTEM ANALYSIS 70
5.5 TRADE ANALYSIS 73
5.5.1 IMPORT SCENARIO (HS CODE 9306) 73
5.5.2 EXPORT SCENARIO (HS CODE 9306) 74
5.6 KEY CONFERENCES AND EVENTS, 2026-2027 75
5.7 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESSES 76
5.8 INVESTMENT AND FUNDING SCENARIO 76
5.9 PRICING ANALYSIS 77
5.9.1 AVERAGE PRICE TREND OF AMMUNITION, BY REGION, 2019?2025 (USD PER YEAR) (USD PER ROUND) 78
5.10 OPERATIONAL DATA 79
5.11 TOTAL COST OF OWNERSHIP 81
5.11.1 TOTAL COST OF OWNERSHIP OF AMMUNITION 81
5.11.1.1 Acquisition costs 81
5.11.1.2 Storage & inventory costs 81
5.11.1.3 Transport and handling costs 81
5.11.1.4 Training consumption costs 82
5.11.1.5 Weapon system wear costs 82
5.11.1.6 Disposal / Demilitarization costs 82
5.12 USE CASE ANALYSIS 83
5.12.1 USE CASE: IMPLEMENTING NON-LETHAL 5.56 MM PLASTIC BLANK AMMUNITION FOR SAFE RIFLE TRAINING 83
5.12.2 USE CASE: EXPANDING 120 MM TANK AMMUNITION FOR MAIN BATTLE TANK READINESS 84
5.13 IMPACT OF 2025 US TARIFFS 84
5.13.1 INTRODUCTION 84
5.13.2 KEY TARIFF RATES 85
5.13.3 PRICE IMPACT ANALYSIS 86
5.13.4 IMPACT ON COUNTRY/REGION 86
5.13.4.1 US 86
5.13.4.2 Europe 87
5.13.4.3 Asia Pacific 88
5.13.5 IMPACT ON END-USE INDUSTRIES 89
5.14 BILL OF MATERIALS 89
5.14.1 SMALL CALIBER 89
5.14.1.1 Rifle / MG (5.56, 7.62, 6.8 NGSW) 89
5.14.1.2 Sniper / Heavy MG (12.7mm, .338) 90
5.14.2 MEDIUM CALIBER 91
5.14.2.1 Autocannon (20?35mm HEI-T) 91
5.14.2.2 40 mm Grenades (LV/HV) 91
5.14.3 LARGE CALIBER 92
5.14.3.1 155mm Artillery HE (Unguided) 92
5.14.3.2 155mm Guided (GPS Kit Added) 92
5.14.3.3 Tank 120mm APFSDS 93
5.14.3.4 Mortar 81/120mm HE 93
5.14.3.5 Rocket Artillery 122mm (Unguided) 93
5.15 VOLUME DATA 94
5.16 BUSINESS MODELS 97
5.16.1 DIRECT SALES AND GOVERNMENT CONTRACT MODEL 97
5.16.2 LICENSED PRODUCTION / TECHNOLOGY TRANSFER MODEL 97
5.16.3 FRAMEWORK SUPPLY AGREEMENT MODEL 98
6 TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE APPLICATIONS 99
6.1 KEY EMERGING TECHNOLOGIES 99
6.1.1 ADOPTION OF POLYMER CASE IN SMALL-CALIBER AMMUNITION 99
6.1.2 PROGRAMMABLE FUZES 99
6.1.3 ADVANCED PROPELLANT TECHNOLOGY IN ARTILLERY SHELLS 99
6.2 COMPLEMENTARY TECHNOLOGIES 100
6.2.1 LASER-INITIATED AMMUNITION 100
6.2.2 PREFABRICATED AMMUNITION 100
6.3 ADJACENT TECHNOLOGIES 100
6.3.1 PRECISION INERTIAL NAVIGATION SYSTEMS (PINS) 100
6.3.2 MICRO INTERNAL NAVIGATION TECHNOLOGY 101
6.4 TECHNOLOGY ROADMAP 101
6.5 EMERGING TECHNOLOGY TRENDS 102
6.6 PATENT ANALYSIS 103
6.7 FUTURE APPLICATIONS 106
6.8 IMPACT OF AI/ GENERATIVE AI ON AMMUNITION MARKET 106
6.9 TOP USE CASES AND MARKET POTENTIAL 107
6.10 BEST PRACTICES IN AMMUNITION MARKET 108
6.11 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 108
6.12 CLIENTS’ READINESS TO ADOPT GENERATIVE AI IN AMMUNITION MARKET 109
6.13 SUCCESS STORIES AND REAL-WORLD APPLICATIONS 109
6.14 AEROJET NAMMO- MULTI-ROLE 25MM MEDIUM-CALIBER AMMUNITION PROVIDER FOR AIR AND GROUND PLATFORMS 109
6.15 NORTHROP GRUMMAN- PROGRAMMABLE AND MULTI-ROLE MEDIUM- AND LARGE-CALIBER AMMUNITION SUPPLIER FOR MODERNIZED FORCE STRUCTURES 110
6.16 RHEINMETALL? 35MM PROGRAMMABLE AIR DEFENCE AMMUNITION AND INTEGRATED CLOSE-RANGE PROTECTION SYSTEM PROVIDER 110
7 SUSTAINABILITY AND REGULATORY LANDSCAPE 111
7.1 REGIONAL REGULATIONS AND COMPLIANCE 111
7.1.1 TARIFF DATA 111
7.1.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 111
7.1.3 REGULATORY FRAMEWORK 115
7.1.3.1 North America 115
7.1.3.2 Europe 116
7.1.3.3 Asia Pacific 116
7.1.3.4 Middle East 116
7.1.3.5 Latin America 117
7.1.3.6 Africa 117
7.2 INDUSTRY STANDARDS 117
7.3 SUSTAINABILITY INITIATIVES 118
7.3.1 GREEN BULLET (US ARMY’S M855A1 ENHANCED PERFORMANCE ROUND) 118
7.3.2 BIODEGRADABLE SHOTSHELL WAD DECOMPOSES ON EXPOSURE TO BACTERIA NATURALLY PRESENT IN ENVIRONMENT 118
7.3.3 LEAD-FREE PROJECTILES IN NATO MARKETS 119
7.3.4 NON-TOXIC PRIMERS 119
7.4 IMPACT OF REGULATORY POLICIES ON SUSTAINABILITY INITIATIVES 119
8 CUSTOMER LANDSCAPE & BUYER BEHAVIOR 120
8.1 DECISION-MAKING PROCESS 120
8.2 BUYERS, STAKEHOLDERS, AND BUYING EVALUATION CRITERIA 121
8.2.1 KEY STAKEHOLDERS IN BUYING PROCESS 121
8.2.2 BUYING CRITERIA 122
8.3 ADOPTION BARRIERS & INTERNAL CHALLENGES 123
8.4 UNMET NEEDS FROM VARIOUS END-USE INDUSTRIES 123
9 AMMUNITION MARKET, BY CALIBER 125
9.1 INTRODUCTION 126
9.2 SMALL CALIBER AMMUNITION 127
9.2.1 USE CASE ANALYSIS 128
9.2.1.1 5.45×39 mm ammunition sustainment for standard Russian infantry platforms 128
9.2.1.2 5.56 mm Ammunition by Bae Systems for infantry rifles 128
9.2.1.3 7.62 mm machine gun ammunition supply by Rheinmetall Denel Munition for land combat systems 128
9.2.2 RIFLE AND MACHINE GUN ROUNDS 129
9.2.2.1 Transition to multiple rifle and machine gun calibers to support evolving infantry requirements 129
9.2.2.2 5.45 mm 130
9.2.2.3 5.56 mm 130
9.2.2.4 7.62 mm 130
9.2.2.5 Others (0.300 blackout, 6.8 MM NGSW) 130
9.2.3 USE CASE ANALYSIS 130
9.2.3.1 9×19 mm NATO ammunition by FN Herstal for pistols and submachine guns 130
9.2.3.2 5.7×28 mm NATO ammunition by FN Herstal for pistols and personal defense weapons 131
9.2.4 HANDGUN ROUNDS 131
9.2.4.1 Sustained demand for handgun ammunition across military and law enforcement forces 131
9.2.4.2 9×19 mm Parabellum 132
9.2.4.3 5.7×28 mm 132
9.2.4.4 Others (9 X 18 mm Makarov, 0.45 ACP, 0.40 S&W) 132
9.2.5 USE CASE ANALYSIS 132
9.2.5.1 8.6 mm (.338 Lapua Magnum) cartridges for Sako TRG-42 sniper rifle 132
9.2.6 338 NORMA MAGNUM AMMUNITION SUPPLY FOR LONG-RANGE SNIPER RIFLES 133
9.2.7 SNIPER ROUNDS 133
9.2.7.1 Expansion of .338 caliber sniper ammunition for extended-range military engagements 133
9.2.7.2 338 Lapua Magnum 134
9.2.7.3 338 Norma Magnum 134
9.2.8 USE CASE ANALYSIS 134
9.2.8.1 12.7 mm guided sniper ammunition development by ISL for 12.7×99 mm long-range rifles 134
9.2.8.2 14.5 mm heavy machine gun integration by Excalibur Army for MR-2 Viktor air defense system 135
9.2.9 HEAVY MACHINE GUN ROUNDS 135
9.2.9.1 Sustained institutional demand for heavy machine gun ammunition in 12.7 mm and 14.5 mm calibers 135
9.2.9.2 12.7 mm (0.50 BMG) 136
9.2.9.3 14.5 mm 136
9.2.10 USE CASE ANALYSIS 136
9.2.10.1 12-gauge shotgun slug ammunition supply by Kinetic Group Sales for Navy shotgun platforms 136
9.2.10.2 20-gauge ammunition for law enforcement combat shotguns 136
9.2.11 SHOTGUN ROUNDS 137
9.2.11.1 Continued institutional procurement of 12-gauge and 20-gauge shotgun ammunition for close-range operations 137
9.2.11.2 12 gauge (Tactical) 137
9.2.11.3 20 gauge (TACTICAL) 138
9.3 MEDIUM CALIBER 138
9.3.1 USE CASE ANALYSIS 139
9.3.1.1 20 mm m940 MPT-SD ammunition production by Northrop Grumman for 20×102 mm gun systems 139
9.3.1.2 25 mm cannon ammunition supply by Nammo as for F-35 GAU-22 139
9.3.1.3 30 mm ammunition supply by Rheinmetall AG for Puma infantry fighting vehicle cannon system 139
9.3.1.4 35 mm gun ammunition supply by ZVS Holding for medium-caliber land weapon systems 139
9.4 AUTOCANNON ROUNDS 140
9.4.1 MODERNIZATION AND AIR DEFENSE REQUIREMENTS TO SUPPORT DEMAND FOR 20 MM TO 35 MM AUTOCANNON AMMUNITION 140
9.4.1.1 20 MM 141
9.4.1.2 25 MM 141
9.4.1.3 30 MM 141
9.4.1.4 35 MM 141
9.4.2 USE CASE ANALYSIS 141
9.4.2.1 40 mm low-velocity ammunition supply by Rheinmetall AG for infantry grenade launcher systems 141
9.4.2.2 40 mm telescoped ammunition supply by KNDS France for JAGUAR armored vehicle and RAPIDFire turret systems 142
9.5 LAUNCHED GRENADES 142
9.5.1 40 MM LOW-VELOCITY (LV) 143
9.5.2 40 MM HIGH-VELOCITY (HV) 143
9.6 LARGE CALIBER 143
9.6.1 USE CASE ANALYSIS 144
9.6.1.1 105 mm artillery ammunition by BAE Systems for L118 light gun system 144
9.6.1.2 130 mm tank ammunition by Rheinmetall AG for next-generation main battle tank guns 144
9.6.1.3 155 mm next-generation adaptable ammunition development by BAE systems for NATO howitzer systems 145
9.6.1.4 203 mm mortar ammunition by Serbia’s Military Technical Institute for TSMB mortar system 145
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9.7 ARTILLERY AMMUNITION 145
9.7.1 OPERATIONAL CONSUMPTION AND STOCK REPLENISHMENT SUPPORTING DEMAND FOR 105 MM TO 203 MM ARTILLERY AMMUNITION 145
9.7.1.1 105 mm 146
9.7.1.2 130 mm 146
9.7.1.3 155 mm 146
9.7.1.4 203 mm 147
9.7.2 USE CASE ANALYSIS 147
9.7.2.1 105 mm TK HE M1010 ammunition by KNDS for M68, L7, and CN105F1 tank guns 147
9.7.2.2 120 mm DM73 APFSDS ammunition by Rheinmetall for L55a1 smoothbore tank gun 147
9.7.2.3 125 mm tank ammunition by DRDO for future main battle tank (FMBT) smoothbore gun system 147
9.8 TANK AMMUNITION 148
9.8.1 FLEET COMPOSITION AND READINESS REQUIREMENTS SUPPORTING DEMAND FOR 105 MM TO 125 MM TANK AMMUNITION 148
9.8.1.1 105 mm 149
9.8.1.2 120 mm 149
9.8.1.3 125 mm 149
9.8.2 USE CASE ANALYSIS 149
9.8.2.1 60 mm mortar ammunition by Rheinmetall Denel Munition for 60 mm mortar systems 149
9.8.2.2 81 mm high-explosive mortar ammunition by Nammo for 81 mm smoothbore mortar systems 149
9.8.2.3 120 mm Iron Sting-guided mortar ammunition by Elbit Systems for 120 mm mortar systems 150
9.8.3 MORTAR AMMUNITION 150
9.8.3.1 Routine replenishment and battalion-level fire support sustaining demand for 60 mm to 120 mm mortar ammunition 150
9.8.3.2 60 mm 151
9.8.3.3 81 mm 151
9.8.3.4 120 mm 151
9.8.4 USE CASE ANALYSIS 151
9.8.4.1 57 mm naval ammunition for patrol vessels, corvettes, and frigates 151
9.8.4.2 76 mm naval ammunition by Leonardo for Oto Melara 76 mm naval gun system 152
9.8.4.3 127 mm Vulcano naval ammunition by Leonardo for 127/54 and 127/64 naval gun systems 152
9.8.5 NAVAL AMMUNITION 152
9.8.5.1 Fleet modernization and readiness requirements to support demand for 57 mm to 127 mm naval ammunition 152
9.8.5.2 57 mm 153
9.8.5.3 76 mm 153
9.8.5.4 127 mm 153
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9.8.6 USE CASE ANALYSIS 154
9.8.6.1 70 mm rocket ammunition by Adani Defence for NATO-standard rocket launcher systems 154
9.8.6.2 122 mm HE rocket ammunition by MSM Group for BM-21 Grad and RM-71 multiple launch rocket systems 154
9.9 ROCKET ARTILLERY 154
9.9.1 LIFECYCLE SUSTAINMENT OF LAUNCHER SYSTEMS TO SUPPORT DEMAND FOR 70 MM AND 122 MM ROCKET ARTILLERY AMMUNITION 154
9.9.1.1 70 mm 155
9.9.1.2 122 mm 155
10 AMMUNITION MARKET, BY COMPONENT 156
10.1 INTRODUCTION 157
10.2 FUZES 158
10.2.1 IMPACT & POINT DETONATING (PD) 159
10.2.1.1 Sustained procurement of impact and point detonating fuzes within established indirect fire programs to drive demand 159
10.2.2 PROXIMITY (VT) & HEIGHT-OF-BURST 160
10.2.2.1 Sustained integration of proximity and variable time fuzes across mortar and artillery programs to drive demand 160
10.2.3 ELECTRONIC AND PROGRAMMABLE AIRBURST 160
10.2.3.1 Digital detonation control and airburst integration to drive demand 160
10.2.4 MULTI-OPTION FUZES (MOFA) 160
10.2.4.1 Adoption of programmable multi-mode fuzes to support inventory rationalization and indirect fire modernization 160
10.3 PRIMERS 161
10.3.1 CENTERFIRE PRIMERS 162
10.3.1.1 Cartridge manufacturing expansion and throughput growth to drive demand 162
10.3.2 PERCUSSION PRIMERS 162
10.3.2.1 Small-caliber ammunition output and plant modernization to drive demand 162
10.3.3 ELECTRIC PRIMERS 162
10.3.3.1 Electrically controlled ignition system expansion to drive demand 162
10.3.4 IGNITER PADS/FLASH TUBES 163
10.3.4.1 Modular charge production expansion to drive demand 163
10.4 PROPELLANTS 163
10.4.1 DOUBLE-BASE SMOKELESS POWDER 164
10.4.1.1 Small and medium-caliber cartridge production growth to drive demand 164
10.4.2 TRIPLE-BASE SMOKELESS POWDER 165
10.4.2.1 Large-caliber artillery expansion and modular charge requirements to drive demand 165
10.4.3 COMPOSITE PROPELLANTS 165
10.4.3.1 Expansion of specialized ammunition throughput to drive demand 165
10.5 PROJECTILES AND WARHEADS 165
10.5.1 FULL METAL JACKET / BALL 166
10.5.1.1 Small arms production and training allocations to drive demand 166
10.5.2 ARMOR PIERCING (AP) 167
10.5.2.1 Stockpile replenishment and small-to-medium caliber output growth supporting demand for armor piercing projectiles 167
10.5.3 HIGH EXPLOSIVE (HE) 167
10.5.3.1 Artillery and indirect fire ammunition production to drive demand 167
10.5.4 KINETIC ENERGY PENETRATOR 167
10.5.4.1 Armored fleet modernization and ammunition output growth to drive demand 167
10.5.5 PREFORMED FRAGMENTATION (PFF) 168
10.5.5.1 Indirect fire ammunition manufacturing expansion to drive demand 168
10.6 CARTRIDGE CASES 168
10.6.1 BRASS 169
10.6.1.1 Metal component capacity expansion to drive demand 169
10.6.2 STEEL 169
10.6.2.1 Expansion of small and medium-caliber ammunition production to drive demand 169
10.6.3 ALUMINUM 170
10.6.3.1 Scaling of ammunition output supporting demand for aluminum cartridge cases 170
10.6.4 COMBUSTIBLE 170
10.6.4.1 Expansion of large-caliber ammunition production to drive demand 170
10.7 OTHERS 171
10.7.1 GPS GUIDANCE KITS 171
10.7.2 ROTATING BANDS 172
10.7.3 TAIL FIN ASSEMBLIES 172
11 AMMUNITION MARKET, BY END USER 173
11.1 INTRODUCTION 174
11.2 MILITARY 175
11.2.1 AIR FORCE 176
11.2.1.1 Operational replenishment and fleet modernization to drive demand 176
11.2.2 ARMY 176
11.2.2.1 War reserve replenishment and high-intensity operations to drive demand 176
11.2.3 NAVY 177
11.2.3.1 Fleet expansion, operational deployment, and inventory rotation to drive demand 177
11.3 LAW ENFORCEMENT/HOMELAND SECURITY 177
11.3.1 BORDER & COAST PROTECTION UNIT 178
11.3.1.1 Enforcement operations and qualification standards to drive demand 178
11.3.2 SPECIAL OPERATIONS UNIT 179
11.3.2.1 Counter-terrorism readiness and intensive qualification cycles to drive demand 179
11.3.3 NATIONAL POLICE FORCE 179
11.3.3.1 Certification standards and public security mandates to drive demand 179
12 AMMUNITION MARKET, BY GUIDANCE 180
12.1 INTRODUCTION 181
12.2 GUIDED 182
12.3 NON-GUIDED 182
13 AMMUNITION MARKET, BY REGION 183
13.1 INTRODUCTION 184
13.2 NORTH AMERICA 185
13.2.1 US 193
13.2.1.1 High procurement of precision-guided munitions and sustained training consumption to drive market 193
13.2.2 CANADA 200
13.2.2.1 Funded stock replenishment, domestic production stability, and continental defense commitments to drive market 200
13.2.3 MEXICO 207
13.2.3.1 Domestic security operations and state-controlled production to drive market 207
13.3 ASIA PACIFIC 213
13.3.1 CHINA 222
13.3.1.1 Military modernization and industrial restructuring to drive market 222
13.3.2 JAPAN 229
13.3.2.1 Defense policy shifts and alliance commitments to drive market 229
13.3.3 INDIA 236
13.3.3.1 Stockpile rebuilding, industrial restructuring, and export expansion to drive market 236
13.3.4 SOUTH KOREA 242
13.3.4.1 High readiness requirements, integrated industrial base, and export orders to drive market 242
13.3.5 AUSTRALIA 248
13.3.5.1 Sovereign manufacturing investment, and Indo-Pacific security commitments to drive market 248
13.3.6 INDONESIA 254
13.3.6.1 Force expansion, internal security operations, and enhancing domestic production capacity to drive market 254
13.3.7 REST OF ASIA PACIFIC 260
13.4 EUROPE 266
13.4.1 GERMANY 275
13.4.1.1 Defense funding expansion, industrial capacity growth, and platform modernization to drive market 275
13.4.2 FRANCE 281
13.4.2.1 Procurement actions under 2024?2030 Military Programming Law to drive market 281
13.4.3 UK 287
13.4.3.1 Stock rebuilding, industrial expansion, and platform modernization to drive market 287
13.4.4 ITALY 293
13.4.4.1 Stock replenishment, domestic production, and NATO commitments to drive market 293
13.4.5 SPAIN 299
13.4.5.1 Increased defense budget and participation in EU procurement initiatives to drive market 299
13.4.6 POLAND 306
13.4.6.1 Force expansion, artillery modernization, and industrial output to drive market 306
13.4.7 NORWAY 313
13.4.7.1 National defense planning, industrial capacity expansion, and Arctic operational requirements to drive market 313
13.4.8 REST OF EUROPE 319
13.5 MIDDLE EAST 325
13.5.1 GCC 333
13.5.1.1 UAE 334
13.5.1.1.1 Planned procurement, domestic industrial integration, and operational deployments to drive market 334
13.5.1.2 Saudi Arabia 340
13.5.1.2.1 Structured procurement, localization policies, and operational requirements to drive market 340
13.5.2 ISRAEL 346
13.5.2.1 Operational requirements and integrated domestic production to drive market 346
13.5.3 TURKEY 352
13.5.3.1 Robust domestic manufacturing capacity to drive market 352
13.5.4 REST OF MIDDLE EAST 358
13.6 LATIN AMERICA 364
13.6.1 BRAZIL 372
13.6.1.1 Military modernization, internal security operations, and export activity to drive market 372
13.6.2 ARGENTINA 378
13.6.2.1 Sustained defense readiness and internal security requirements to drive market 378
13.6.3 REST OF LATIN AMERICA 384
13.7 AFRICA 390
13.7.1 SOUTH AFRICA 398
13.7.1.1 Export recovery and regional security commitments to drive market 398
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13.7.2 ALGERIA 405
13.7.2.1 Sustained defense spending and border security operations to drive market 405
13.7.3 REST OF AFRICA 411
14 COMPETITIVE LANDSCAPE 418
14.1 INTRODUCTION 418
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022?2025 418
14.3 REVENUE ANALYSIS, 2021?2025 422
14.4 MARKET SHARE ANALYSIS, 2025 422
14.5 BRAND/PRODUCT COMPARISON 425
14.6 COMPANY VALUATION AND FINANCIAL METRICS 426
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2025 427
14.7.1 STARS 427
14.7.2 EMERGING LEADERS 427
14.7.3 PERVASIVE PLAYERS 427
14.7.4 PARTICIPANTS 427
14.7.5 COMPANY FOOTPRINT 429
14.7.5.1 Company footprint 429
14.7.5.2 Region footprint 430
14.7.5.3 Caliber footprint 431
14.7.5.4 End user footprint 432
14.7.5.5 Guidance footprint 433
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 434
14.8.1 PROGRESSIVE COMPANIES 434
14.8.2 RESPONSIVE COMPANIES 434
14.8.3 DYNAMIC COMPANIES 434
14.8.4 STARTING BLOCKS 434
14.8.5 COMPETITIVE BENCHMARKING 436
14.8.5.1 List of startups/SMEs 436
14.8.5.2 Competitive benchmarking of startups/SMEs 436
14.9 COMPETITIVE SCENARIO 437
14.9.1 PRODUCT LAUNCHES/DEVELOPMENTS 437
14.9.2 DEALS 438
14.9.3 OTHER DEVELOPMENTS 445
15 COMPANY PROFILES 457
15.1 KEY PLAYERS 457
15.1.1 BAE SYSTEMS 457
15.1.1.1 Business overview 457
15.1.1.2 Products offered 458
15.1.1.3 Recent developments 459
15.1.1.3.1 Product launches 459
15.1.1.3.2 Deals 460
15.1.1.3.3 Other developments 460
15.1.1.4 MnM view 461
15.1.1.4.1 Right to win 461
15.1.1.4.2 Strategic choices 461
15.1.1.4.3 Weaknesses and competitive threats 461
15.1.2 NAMMO AS 462
15.1.2.1 Business overview 462
15.1.2.2 Products offered 463
15.1.2.3 Recent developments 465
15.1.2.3.1 Deals 465
15.1.2.3.2 Other developments 465
15.1.2.4 MnM view 467
15.1.2.4.1 Right to win 467
15.1.2.4.2 Strategic choices 467
15.1.2.4.3 Weaknesses and competitive threats 467
15.1.3 NORTHROP GRUMMAN 468
15.1.3.1 Business overview 468
15.1.3.2 Products offered 469
15.1.3.2.1 Deals 471
15.1.3.2.2 Other developments 472
15.1.3.3 MnM view 472
15.1.3.3.1 Right to win 472
15.1.3.3.2 Strategic choices 473
15.1.3.3.3 Weaknesses and competitive threats 473
15.1.4 RHEINMETALL AG 474
15.1.4.1 Business overview 474
15.1.4.2 Products offered 475
15.1.4.3 Recent developments 477
15.1.4.3.1 Deals 477
15.1.4.3.2 Other developments 479
15.1.4.4 MnM view 481
15.1.4.4.1 Right to win 481
15.1.4.4.2 Strategic choices 481
15.1.4.4.3 Weaknesses and competitive threats 481
15.1.5 GENERAL DYNAMICS CORPORATION 482
15.1.5.1 Business overview 482
15.1.5.2 Products offered 483
15.1.5.2.1 Other developments 485
15.1.5.3 MnM view 487
15.1.5.3.1 Right to win 487
15.1.5.3.2 Strategic choices 487
15.1.5.3.3 Weaknesses and competitive threats 487
15.1.6 ELBIT SYSTEMS LTD 488
15.1.6.1 Business overview 488
15.1.6.2 Products offered 489
15.1.6.2.1 Other developments 492
15.1.7 POONGSAN CORPORATION 494
15.1.7.1 Business overview 494
15.1.7.2 Products offered 495
15.1.7.3 Recent developments 496
15.1.7.3.1 Product launches 496
15.1.7.3.2 Other developments 497
15.1.8 THALES 498
15.1.8.1 Business overview 498
15.1.8.2 Products offered 499
15.1.8.3 Recent developments 500
15.1.8.3.1 Deals 500
15.1.8.3.2 Other developments 501
15.1.9 FN HERSTAL 502
15.1.9.1 Business overview 502
15.1.9.2 Products offered 502
15.1.9.3 Recent developments 503
15.1.9.3.1 Product launches 503
15.1.9.3.2 Other developments 504
15.1.10 HORNADY 505
15.1.10.1 Business overview 505
15.1.10.2 Products offered 505
15.1.10.2.1 Other developments 506
15.1.11 CBC GLOBAL AMMUNITION 507
15.1.11.1 Business overview 507
15.1.11.2 Products offered 507
15.1.11.3 Recent developments 510
15.1.11.3.1 Deals 510
15.1.12 HANWHA AEROSPACE 511
15.1.12.1 Business overview 511
15.1.12.2 Products offered 512
15.1.12.2.1 Other developments 513
15.1.13 OLIN CORPORATION 514
15.1.13.1 Business overview 514
15.1.13.2 Products offered 515
15.1.13.3 Recent developments 515
15.1.13.3.1 Product launches 515
15.1.13.3.2 Deals 516
15.1.13.3.3 Other developments 516
15.1.14 SAAB AB 518
15.1.14.1 Business overview 518
15.1.14.2 Products offered 519
15.1.14.3 Recent developments 519
15.1.14.3.1 Other developments 519
15.1.15 DENEL SOC LTD 521
15.1.15.1 Business overview 521
15.1.15.2 Products offered 522
15.1.15.3 Recent developments 523
15.1.15.3.1 Deals 523
15.1.15.3.2 Other developments 523
15.1.16 ST ENGINEERING 524
15.1.16.1 Business overview 524
15.1.16.2 Products offered 525
15.1.16.3 Recent developments 526
15.1.16.3.1 Other developments 526
15.1.17 BERETTA HOLDINGS S.A. 527
15.1.17.1 Business overview 527
15.1.17.2 Products offered 527
15.1.17.3 Recent developments 530
15.1.17.3.1 Deals 530
15.1.18 CSG 531
15.1.18.1 Business overview 531
15.1.18.2 Products offered 532
15.1.18.3 Recent developments 535
15.1.18.3.1 Other developments 535
15.1.19 LEONARDO S.P.A. 536
15.1.19.1 Business overview 536
15.1.19.2 Products offered 537
15.1.19.3 Recent developments 539
15.1.19.3.1 Deals 539
15.1.19.3.2 Other developments 539
15.1.20 KNDS 540
15.1.20.1 Business overview 540
15.1.20.2 Products offered 540
15.1.20.3 Recent developments 541
15.1.20.3.1 Deals 541
15.1.20.3.2 Other developments 542
?
15.2 OTHER PLAYERS 543
15.2.1 NORINCO 543
15.2.2 SIERRA BULLETS. 544
15.2.3 SIG SAUER 545
15.2.4 EDGE GROUP PLC 546
15.2.5 ADANI DEFENSE AND AEROSPACE 547
15.2.6 DIEHL STIFTUNG & CO. KG 548
15.2.7 PRVI PARTIZAN A.D. 549
15.2.8 POLSKA GRUPA ZBROJENIOWA (PGZ) 551
15.2.9 AGUILA AMMUNITION 552
15.2.10 BLUE HORIZONS STRATEGIC ENGINEERING PVT. LTD. 553
15.2.11 SSS DEFENCE 554
15.2.12 TRUE VELOCITY, LLC 555
15.2.13 BLACK HILLS AMMUNITION 556
16 RESEARCH METHODOLOGY 559
16.1 RESEARCH DATA 559
16.1.1 SECONDARY DATA 560
16.1.1.1 Key data from secondary sources 561
16.1.2 PRIMARY DATA 561
16.1.2.1 Primary interview participants 561
16.1.2.2 Key data from primary sources 562
16.1.2.3 Breakdown of primary interviews 562
16.1.2.4 Insights from industry experts 563
16.2 FACTOR ANALYSIS 563
16.2.1 PHASE 1: VARIABLE DEFINITION AND MARKET SEGMENTATION 563
16.2.1.1 The Dependent Variable (Y) 563
16.2.1.2 The Independent Variables (X) 563
16.2.1.2.1 Small-caliber ammunition procurement forecast: Macro & micro indicators 564
16.2.1.2.2 Medium-caliber ammunition procurement forecast: Macro & micro indicators 564
16.2.1.2.3 Large-caliber ammunition procurement forecast: Macro & micro indicators 565
16.2.2 PHASE 2: DATA PRE-PROCESSING AND STANDARDIZATION 565
16.2.2.1 Z-Score Standardization 565
16.2.2.2 Logarithmic Transformation 566
16.2.3 PHASE 3: THE LINEAR REGRESSION MODEL 566
16.2.4 PHASE 4: INTERPRETATION OF STATISTICAL OUTPUTS 566
16.2.5 PHASE 5: CONVERSION TO FORECAST WEIGHTS 566
16.3 PHASE 6: APPLICATION TO 2026?2031 MARKET SIZING 567
16.3.1 PHASE 7: SEGMENT-WISE ADOPTION MATRIX 567
16.3.1.1 End user adoption matrix 568
16.3.1.2 Guidance technology penetration matrix 568
16.3.1.3 Component bill of materials (BOM) cost breakdown 568
16.4 DEMAND-SIDE INDICATORS 569
16.4.1 SUPPLY-SIDE INDICATORS 570
16.4.2 MARKET SIZE ESTIMATION 570
16.4.3 BOTTOM-UP APPROACH 571
16.4.3.1 Market size estimation methodology 571
16.5 TOP-DOWN APPROACH 572
16.6 DATA TRIANGULATION 573
16.7 RESEARCH ASSUMPTIONS 575
16.8 RESEARCH LIMITATIONS 575
16.9 RISK ASSESSMENT 576
17 APPENDIX 578
17.1 DISCUSSION GUIDE 578
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 581
17.3 CUSTOMIZATION OPTIONS 583
17.4 RELATED REPORTS 583
17.5 AUTHOR DETAILS 584

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List of Tables/Graphs

TABLE 1 USD EXCHANGE RATES, 2021?2025 50
TABLE 2 STRATEGIC MOVES BY TIER 1, 2, AND 3 PLAYERS 65
TABLE 3 GDP PERCENTAGE CHANGE, BY COUNTRY, 2021?2030 66
TABLE 4 ROLE OF COMPANIES IN ECOSYSTEM 72
TABLE 5 IMPORT DATA FOR HS CODE 9306-COMPLIANT PRODUCTS, BY COUNTRY, 2021?2025 (USD THOUSAND) 74
TABLE 6 EXPORT DATA FOR HS CODE 9306-COMPLIANT PRODUCTS, BY COUNTRY, 2021?2025 (USD THOUSAND) 75
TABLE 7 KEY CONFERENCES AND EVENTS, 2026-2027 75
TABLE 8 AVERAGE SELLING PRICE OF AMMUNITION, BY KEY PLAYERS, 2019-2025 (USD PER ROUND) 77
TABLE 9 AVERAGE SELLING PRICE TREND, BY REGION, 2019-2025 (USD) 78
TABLE 10 AMMUNITION MARKET, BY SMALL CALIBER, 2021?2025 (UNITS) 79
TABLE 11 AMMUNITION MARKET, BY SMALL CALIBER, 2025?2031 (UNITS) 80
TABLE 12 AMMUNITION MARKET, BY MEDIUM CALIBER, 2021?2025 (UNITS) 80
TABLE 13 AMMUNITION MARKET, BY MEDIUM CALIBER, 2025?2031 (UNITS) 80
TABLE 14 AMMUNITION MARKET, BY LARGE CALIBER, 2021?2025 (UNITS) 80
TABLE 15 AMMUNITION MARKET, BY LARGE CALIBER, 2025?2031 (UNITS) 81
TABLE 16 TOTAL COST OF OWNERSHIP OF AMMUNITION 82
TABLE 17 US ADJUSTED RECIPROCAL TARIFF RATES 85
TABLE 18 KEY PRODUCT-RELATED TARIFF EFFECTIVE FOR AMMUNITION MARKET 85
TABLE 19 EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKET DUE TO TARIFF IMPACT 86
TABLE 20 SMALL-CALIBER RIFLE/MACHINE GUN BULLETS: BILL OF MATERIALS SHARE 90
TABLE 21 SMALL-CALIBER SNIPER-HEAVY MACHINE GUN ROUNDS:
BILL OF MATERIALS SHARE 90
TABLE 22 MEDIUM-CALIBER AUTOCANNON ROUNDS: BILL OF MATERIALS SHARE 91
TABLE 23 MEDIUM-CALIBER 40 MM GRENADES: BILL OF MATERIALS SHARE 91
TABLE 24 LARGE-CALIBER UNGUIDED 155MM ARTILLERY: BILL OF MATERIALS SHARE 92
TABLE 25 LARGE-CALIBER 155MM GUIDED ARTILLERY: BILL OF MATERIALS SHARE 92
TABLE 26 LARGE-CALIBER 120 MM TANK AMMUNITION: BILL OF MATERIALS SHARE 93
TABLE 27 LARGE-CALIBER MORTAR AMMUNITION: BILL OF MATERIALS SHARE 93
TABLE 28 LARGE-CALIBER ROCKET ARTILLERY 122MM UNGUIDED:
BILL OF MATERIALS SHARE 94
TABLE 29 AMMUNITION MARKET, BY CALIBER, 2021?2025 (UNITS) 94
TABLE 30 AMMUNITION MARKET, BY CALIBER, 2026?2031 (UNITS) 94
TABLE 31 AMMUNITION MARKET, BY END USER, 2021?2025 (UNITS) 94
TABLE 32 AMMUNITION MARKET, BY END-USER, 2026?2031 (UNITS) 95
TABLE 33 AMMUNITION MARKET, BY MILITARY, 2021?2025 (UNITS) 95
TABLE 34 AMMUNITION MARKET, BY MILITARY, 2026?2031 (UNITS) 95
TABLE 35 AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY,
2021?2025 (UNITS) 95
TABLE 36 AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY,
2026?2031 (UNITS) 96
TABLE 37 AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (UNITS) 96
TABLE 38 AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (UNITS) 96
TABLE 39 AMMUNITION MARKET, BY REGION, 2021?2025 (UNITS) 96
TABLE 40 AMMUNITION MARKET, BY REGION, 2026?2031 (UNITS) 97
TABLE 41 LIST OF MAJOR PATENTS FOR AMMUNITION (2023-2025) 104
TABLE 42 TOP USE CASES AND MARKET POTENTIAL 107
TABLE 43 BEST PRACTICES: COMPANIES IMPLEMENTING USE CASES 108
TABLE 44 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 108
TABLE 45 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 111
TABLE 46 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 112
TABLE 47 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 113
TABLE 48 MIDDLE EAST: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 114
TABLE 49 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 115
TABLE 50 GLOBAL INDUSTRY STANDARDS IN AMMUNITION MARKET 118
TABLE 51 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR AMMUNITION, BY END USER (%) 122
TABLE 52 KEY BUYING CRITERIA FOR AMMUNITION MARKET, BY END USER 123
TABLE 53 AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 126
TABLE 54 AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 127
TABLE 55 SMALL-CALIBER AMMUNITION MARKET, 2021?2025 (USD MILLION) 127
TABLE 56 SMALL-CALIBER AMMUNITION MARKET, 2026?2031 (USD MILLION) 128
TABLE 57 SMALL-CALIBER AMMUNITION MARKET, BY RIFLE AND MACHINE GUN ROUNDS, 2021?2025 (USD MILLION) 129
TABLE 58 SMALL-CALIBER AMMUNITION MARKET, BY RIFLE AND MACHINE GUN ROUNDS, 2026?2031 (USD MILLION) 129
TABLE 59 SMALL-CALIBER AMMUNITION MARKET, BY HANDGUN ROUNDS,
2021?2025 (USD MILLION) 131
TABLE 60 SMALL-CALIBER AMMUNITION MARKET, BY HANDGUN ROUNDS,
2026?2031 (USD MILLION) 132
TABLE 61 SMALL-CALIBER AMMUNITION MARKET, BY SNIPER ROUNDS,
2021?2025 (USD MILLION) 133
TABLE 62 SMALL-CALIBER AMMUNITION MARKET, BY SNIPER ROUNDS,
2026?2031 (USD MILLION) 134
TABLE 63 SMALL-CALIBER AMMUNITION MARKET, BY HEAVY MACHINE GUN ROUNDS,
2021?2025 (USD MILLION) 135
TABLE 64 SMALL-CALIBER AMMUNITION MARKET, BY HEAVY MACHINE GUN ROUNDS,
2026?2031 (USD MILLION) 135
TABLE 65 SMALL-CALIBER AMMUNITION MARKET, BY SHOTGUN ROUNDS,
2021?2025 (USD MILLION) 137
TABLE 66 SMALL-CALIBER AMMUNITION MARKET, BY SHOTGUN ROUNDS,
2026?2031 (USD MILLION) 137
TABLE 67 MEDIUM-CALIBER AMMUNITION MARKET, 2021?2025 (USD MILLION) 138
TABLE 68 MEDIUM-CALIBER AMMUNITION MARKET, 2026?2031 (USD MILLION) 138
TABLE 69 MEDIUM-CALIBER AMMUNITION MARKET, BY AUTOCANNON ROUNDS,
2021?2025 (USD MILLION) 140
TABLE 70 MEDIUM-CALIBER AMMUNITION MARKET, BY AUTOCANNON ROUNDS,
2026?2031 (USD MILLION) 140
TABLE 71 MEDIUM-CALIBER AMMUNITION MARKET, BY LAUNCHED GRENADES,
2021?2025 (USD MILLION) 142
TABLE 72 MEDIUM-CALIBER AMMUNITION MARKET, BY LAUNCHED GRENADES,
2026?2031 (USD MILLION) 142
TABLE 73 LARGE-CALIBER AMMUNITION MARKET, 2021?2025 (USD MILLION) 144
TABLE 74 LARGE-CALIBER AMMUNITION MARKET, 2026?2031 (USD MILLION) 144
TABLE 75 LARGE-CALIBER AMMUNITION MARKET, BY ARTILLERY AMMUNITION,
2021?2025 (USD MILLION) 146
TABLE 76 LARGE-CALIBER AMMUNITION MARKET, BY ARTILLERY AMMUNITION,
2026?2031 (USD MILLION) 146
TABLE 77 LARGE-CALIBER AMMUNITION MARKET, BY TANK AMMUNITION,
2021?2025 (USD MILLION) 148
TABLE 78 LARGE-CALIBER AMMUNITION MARKET, BY TANK AMMUNITION,
2026?2031 (USD MILLION) 148
TABLE 79 LARGE-CALIBER AMMUNITION MARKET, BY MORTAR AMMUNITION,
2021?2025 (USD MILLION) 150
TABLE 80 LARGE-CALIBER AMMUNITION MARKET, BY MORTAR AMMUNITION,
2026?2031 (USD MILLION) 151
TABLE 81 LARGE-CALIBER AMMUNITION MARKET, BY NAVAL AMMUNITION,
2021?2025 (USD MILLION) 153
TABLE 82 LARGE-CALIBER AMMUNITION MARKET, BY NAVAL AMMUNITION,
2026?2031 (USD MILLION) 153
TABLE 83 LARGE-CALIBER AMMUNITION MARKET, BY ROCKET ARTILLERY,
2021?2025 (USD MILLION) 155
TABLE 84 LARGE-CALIBER AMMUNITION MARKET, BY ROCKET ARTILLERY,
2026?2031 (USD MILLION) 155
TABLE 85 AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 158
TABLE 86 AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 158
TABLE 87 AMMUNITION MARKET, BY FUZES, 2021?2025 (USD MILLION) 159
TABLE 88 AMMUNITION MARKET, BY FUZES, 2026?2031 (USD MILLION) 159
TABLE 89 AMMUNITION MARKET, BY PRIMERS, 2021?2025 (USD MILLION) 161
TABLE 90 AMMUNITION MARKET, BY PRIMERS, 2026?2031 (USD MILLION) 161
TABLE 91 AMMUNITION MARKET, BY PROPELLANTS, 2021?2025 (USD MILLION) 164
TABLE 92 AMMUNITION MARKET, BY PROPELLANTS, 2026?2031 (USD MILLION) 164
TABLE 93 AMMUNITION MARKET, BY PROJECTILES AND WARHEADS,
2021?2025 (USD MILLION) 166
TABLE 94 AMMUNITION MARKET, BY PROJECTILES AND WARHEADS,
2026?2031 (USD MILLION) 166
TABLE 95 AMMUNITION MARKET, BY CARTRIDGE CASES, 2021?2025 (USD MILLION) 169
TABLE 96 AMMUNITION MARKET, BY CARTRIDGE CASES, 2026?2031 (USD MILLION) 169
TABLE 97 AMMUNITION MARKET, BY OTHER COMPONENTS, 2021?2025 (USD MILLION) 171
TABLE 98 AMMUNITION MARKET, BY OTHER COMPONENTS, 2026?2031 (USD MILLION) 171
TABLE 99 AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 174
TABLE 100 AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 175
TABLE 101 AMMUNITION MARKET, BY MILITARY, 2021?2025 (USD MILLION) 175
TABLE 102 AMMUNITION MARKET, BY MILITARY, 2026?2031 (USD MILLION) 176
TABLE 103 AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY,
2021?2025 (USD MILLION) 178
TABLE 104 AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY,
2026?2031 (USD MILLION) 178
TABLE 105 AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 181
TABLE 106 AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 182
TABLE 107 AMMUNITION MARKET, BY REGION, 2021?2025 (USD MILLION) 185
TABLE 108 AMMUNITION MARKET, BY REGION, 2026?2031 (USD MILLION) 185
TABLE 109 NORTH AMERICA: AMMUNITION MARKET, BY COUNTRY,
2021?2025 (USD MILLION) 186
TABLE 110 NORTH AMERICA: AMMUNITION MARKET, BY COUNTRY,
2026?2031 (USD MILLION) 186
TABLE 111 NORTH AMERICA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 187
TABLE 112 NORTH AMERICA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 187
TABLE 113 NORTH AMERICA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 187
TABLE 114 NORTH AMERICA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 187
TABLE 115 NORTH AMERICA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 188
TABLE 116 NORTH AMERICA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 188
TABLE 117 NORTH AMERICA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 188
TABLE 118 NORTH AMERICA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 188
TABLE 119 NORTH AMERICA: AMMUNITION MARKET, BY PRODUCT,
2021?2025 (USD MILLION) 189
TABLE 120 NORTH AMERICA: AMMUNITION MARKET, BY PRODUCT,
2026?2031 (USD MILLION) 190
TABLE 121 NORTH AMERICA: AMMUNITION MARKET, BY END USER,
2021?2025 (USD MILLION) 191
TABLE 122 NORTH AMERICA: AMMUNITION MARKET, BY END USER,
2026?2031 (USD MILLION) 191
TABLE 123 NORTH AMERICA: AMMUNITION MARKET, BY MILITARY,
2021?2025 (USD MILLION) 191
TABLE 124 NORTH AMERICA: AMMUNITION MARKET, BY MILITARY,
2026?2031 (USD MILLION) 191
TABLE 125 NORTH AMERICA: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2021?2025 (USD MILLION) 192
TABLE 126 NORTH AMERICA: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2026?2031 (USD MILLION) 192
TABLE 127 NORTH AMERICA: AMMUNITION MARKET, BY GUIDANCE,
2021?2025 (USD MILLION) 192
TABLE 128 NORTH AMERICA: AMMUNITION MARKET, BY GUIDANCE,
2026?2031 (USD MILLION) 192
TABLE 129 NORTH AMERICA: AMMUNITION MARKET, BY COMPONENT,
2021?2025 (USD MILLION) 193
TABLE 130 NORTH AMERICA: AMMUNITION MARKET, BY COMPONENT,
2026?2031 (USD MILLION) 193
TABLE 131 US: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 194
TABLE 132 US: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 194
TABLE 133 US: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 194
TABLE 134 US: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 195
TABLE 135 US: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 195
TABLE 136 US: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 195
TABLE 137 US: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 196
TABLE 138 US: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 196
TABLE 139 US: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 197
TABLE 140 US: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 198
TABLE 141 US: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 199
TABLE 142 US: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 199
TABLE 143 US: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 199
TABLE 144 US: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 199
TABLE 145 US: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 200
TABLE 146 US: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 200
TABLE 147 CANADA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 201
TABLE 148 CANADA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 201
TABLE 149 CANADA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 201
TABLE 150 CANADA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 202
TABLE 151 CANADA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 202
TABLE 152 CANADA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 202
TABLE 153 CANADA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 203
TABLE 154 CANADA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 203
TABLE 155 CANADA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 204
TABLE 156 CANADA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 205
TABLE 157 CANADA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 206
TABLE 158 CANADA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 206
TABLE 159 CANADA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 206
TABLE 160 CANADA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 206
TABLE 161 CANADA: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 207
TABLE 162 CANADA: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 207
TABLE 163 MEXICO: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 208
TABLE 164 MEXICO: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 208
TABLE 165 MEXICO: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 208
TABLE 166 MEXICO: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 208
TABLE 167 MEXICO: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 209
TABLE 168 MEXICO: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 209
TABLE 169 MEXICO: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 209
TABLE 170 MEXICO: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 209
TABLE 171 MEXICO: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 210
TABLE 172 MEXICO: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 211
TABLE 173 MEXICO: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 212
TABLE 174 MEXICO: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 212
TABLE 175 MEXICO: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 212
TABLE 176 MEXICO: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 212
TABLE 177 MEXICO: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 213
TABLE 178 MEXICO: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 213
TABLE 179 ASIA PACIFIC: AMMUNITION MARKET, BY COUNTRY, 2021?2025 (USD MILLION) 214
TABLE 180 ASIA PACIFIC: AMMUNITION MARKET, BY COUNTRY, 2026?2031 (USD MILLION) 215
TABLE 181 ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 215
TABLE 182 ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 215
TABLE 183 ASIA PACIFIC: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 216
TABLE 184 ASIA PACIFIC: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 216
TABLE 185 ASIA PACIFIC: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 216
TABLE 186 ASIA PACIFIC: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 216
TABLE 187 ASIA PACIFIC: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 217
TABLE 188 ASIA PACIFIC: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 217
TABLE 189 ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 218
TABLE 190 ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 219
TABLE 191 ASIA PACIFIC: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 220
TABLE 192 ASIA PACIFIC: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 220
TABLE 193 ASIA PACIFIC: AMMUNITION MARKET, BY MILITARY, 2021?2025 (USD MILLION) 220
TABLE 194 ASIA PACIFIC: AMMUNITION MARKET, BY MILITARY, 2026?2031 (USD MILLION) 220
TABLE 195 ASIA PACIFIC: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2021?2025 (USD MILLION) 221
TABLE 196 ASIA PACIFIC: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2026?2031 (USD MILLION) 221
TABLE 197 ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 221
TABLE 198 ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 221
TABLE 199 ASIA PACIFIC: AMMUNITION MARKET, COMPONENT, 2021?2025 (USD MILLION) 222
TABLE 200 ASIA PACIFIC: AMMUNITION MARKET, BY COMPONENT,
2026?2031 (USD MILLION) 222
TABLE 201 CHINA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 223
TABLE 202 CHINA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 223
TABLE 203 CHINA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 223
TABLE 204 CHINA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 224
TABLE 205 CHINA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 224
TABLE 206 CHINA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 224
TABLE 207 CHINA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 225
TABLE 208 CHINA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 225
TABLE 209 CHINA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 226
TABLE 210 CHINA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 227
TABLE 211 CHINA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 228
TABLE 212 CHINA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 228
TABLE 213 CHINA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 228
TABLE 214 CHINA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 228
TABLE 215 CHINA: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 229
TABLE 216 CHINA: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 229
TABLE 217 JAPAN: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 230
TABLE 218 JAPAN: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 230
TABLE 219 JAPAN: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 230
TABLE 220 JAPAN: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 231
TABLE 221 JAPAN: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 231
TABLE 222 JAPAN: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 231
TABLE 223 JAPAN: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 232
TABLE 224 JAPAN: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 232
TABLE 225 JAPAN: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 233
TABLE 226 JAPAN: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 234
TABLE 227 JAPAN: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 234
TABLE 228 JAPAN: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 235
TABLE 229 JAPAN: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 235
TABLE 230 JAPAN: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 235
TABLE 231 JAPAN: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 235
TABLE 232 JAPAN: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 236TABLE 233 INDIA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 236
TABLE 234 INDIA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 237
TABLE 235 INDIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 237
TABLE 236 INDIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 237
TABLE 237 INDIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 237
TABLE 238 INDIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 238
TABLE 239 INDIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 238
TABLE 240 INDIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 238
TABLE 241 INDIA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 239
TABLE 242 INDIA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 240
TABLE 243 INDIA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 240
TABLE 244 INDIA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 241
TABLE 245 INDIA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 241
TABLE 246 INDIA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 241
TABLE 247 INDIA: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 241
TABLE 248 INDIA: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 242
TABLE 249 SOUTH KOREA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 243
TABLE 250 SOUTH KOREA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 243
TABLE 251 SOUTH KOREA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 243
TABLE 252 SOUTH KOREA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 243
TABLE 253 SOUTH KOREA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 244
TABLE 254 SOUTH KOREA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 244
TABLE 255 SOUTH KOREA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 244
TABLE 256 SOUTH KOREA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 244
TABLE 257 SOUTH KOREA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 245
TABLE 258 SOUTH KOREA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 245
TABLE 259 SOUTH KOREA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 245
TABLE 260 SOUTH KOREA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 246
TABLE 261 SOUTH KOREA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 247
TABLE 262 SOUTH KOREA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 247
TABLE 263 SOUTH KOREA: AMMUNITION MARKET, BY COMPONENT,
2021?2025 (USD MILLION) 247
TABLE 264 SOUTH KOREA: AMMUNITION MARKET, BY COMPONENT,
2026?2031 (USD MILLION) 247
TABLE 265 AUSTRALIA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 248
TABLE 266 AUSTRALIA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 248
TABLE 267 AUSTRALIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 249
TABLE 268 AUSTRALIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 249
TABLE 269 AUSTRALIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 249
TABLE 270 AUSTRALIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 249
TABLE 271 AUSTRALIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 250
TABLE 272 AUSTRALIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 250
TABLE 273 AUSTRALIA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 251
TABLE 274 AUSTRALIA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 252
TABLE 275 AUSTRALIA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 252
TABLE 276 AUSTRALIA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 253
TABLE 277 AUSTRALIA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 253
TABLE 278 AUSTRALIA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 253
TABLE 279 AUSTRALIA: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 253
TABLE 280 AUSTRALIA: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 254
TABLE 281 INDONESIA: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 254
TABLE 282 INDONESIA: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 255
TABLE 283 INDONESIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 255
TABLE 284 INDONESIA: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 255
TABLE 285 INDONESIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 255
TABLE 286 INDONESIA: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 256
TABLE 287 INDONESIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 256
TABLE 288 INDONESIA: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 256
TABLE 289 INDONESIA: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 257
TABLE 290 INDONESIA: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 258
TABLE 291 INDONESIA: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 258
TABLE 292 INDONESIA: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 259
TABLE 293 INDONESIA: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 259
TABLE 294 INDONESIA: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 259
TABLE 295 INDONESIA: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 259
TABLE 296 INDONESIA: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 260
TABLE 297 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER,
2021?2025 (USD MILLION) 260
TABLE 298 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY CALIBER,
2026?2031 (USD MILLION) 261
TABLE 299 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 261
TABLE 300 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 261
TABLE 301 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 261
TABLE 302 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 262
TABLE 303 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION, 2021?2025 (USD MILLION) 262
TABLE 304 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION, 2026?2031 (USD MILLION) 262
TABLE 305 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT,
2021?2025 (USD MILLION) 263
TABLE 306 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY PRODUCT,
2026?2031 (USD MILLION) 264
TABLE 307 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY END USER,
2021?2025 (USD MILLION) 265
TABLE 308 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY END USER,
2026?2031 (USD MILLION) 265
TABLE 309 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE,
2021?2025 (USD MILLION) 265
TABLE 310 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY GUIDANCE,
2026?2031 (USD MILLION) 265
TABLE 311 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY COMPONENT,
2021?2025 (USD MILLION) 266
TABLE 312 REST OF ASIA PACIFIC: AMMUNITION MARKET, BY COMPONENT,
2026?2031 (USD MILLION) 266
TABLE 313 EUROPE: AMMUNITION MARKET, BY COUNTRY, 2021?2025 (USD MILLION) 267
TABLE 314 EUROPE: AMMUNITION MARKET, BY COUNTRY, 2026?2031 (USD MILLION) 268
TABLE 315 EUROPE: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 268
TABLE 316 EUROPE: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 268
TABLE 317 EUROPE: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 269
TABLE 318 EUROPE: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 269
TABLE 319 EUROPE: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 269
TABLE 320 EUROPE: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 269
TABLE 321 EUROPE: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 270
TABLE 322 EUROPE: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 270
TABLE 323 EUROPE: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 271
TABLE 324 EUROPE: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 272
TABLE 325 EUROPE: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 273
TABLE 326 EUROPE: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 273
TABLE 327 EUROPE: AMMUNITION MARKET, BY MILITARY, 2021?2025 (USD MILLION) 273
TABLE 328 EUROPE: AMMUNITION MARKET, BY MILITARY, 2026?2031 (USD MILLION) 273
TABLE 329 EUROPE: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2021?2025 (USD MILLION) 274
TABLE 330 EUROPE: AMMUNITION MARKET, BY LAW ENFORCEMENT/HOMELAND SECURITY, 2026?2031 (USD MILLION) 274
TABLE 331 EUROPE: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 274
TABLE 332 EUROPE: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 274
TABLE 333 EUROPE: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 275
TABLE 334 EUROPE: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 275
TABLE 335 GERMANY: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 276
TABLE 336 GERMANY: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 276
TABLE 337 GERMANY: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 276
TABLE 338 GERMANY: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 276
TABLE 339 GERMANY: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 277
TABLE 340 GERMANY: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 277
TABLE 341 GERMANY: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 277
TABLE 342 GERMANY: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 277
TABLE 343 GERMANY: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 278
TABLE 344 GERMANY: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 279
TABLE 345 GERMANY: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 279
TABLE 346 GERMANY: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 280
TABLE 347 GERMANY: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 280
TABLE 348 GERMANY: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 280
TABLE 349 GERMANY: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 280
TABLE 350 GERMANY: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 281
TABLE 351 FRANCE: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 281
TABLE 352 FRANCE: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 282
TABLE 353 FRANCE: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 282
TABLE 354 FRANCE: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 282
TABLE 355 FRANCE: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 282
TABLE 356 FRANCE: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 283
TABLE 357 FRANCE: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 283
TABLE 358 FRANCE: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 283
TABLE 359 FRANCE: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 284
TABLE 360 FRANCE: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 285
TABLE 361 FRANCE: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 286
TABLE 362 FRANCE: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 286
TABLE 363 FRANCE: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 286
TABLE 364 FRANCE: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 286
TABLE 365 FRANCE: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 287
TABLE 366 FRANCE: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 287
TABLE 367 UK: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 288
TABLE 368 UK: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 288
TABLE 369 UK: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 288
TABLE 370 UK: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 289
TABLE 371 UK: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 289
TABLE 372 UK: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 289
TABLE 373 UK: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 289
TABLE 374 UK: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 290
TABLE 375 UK: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 290
TABLE 376 UK: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLION) 291
TABLE 377 UK: AMMUNITION MARKET, BY END USER, 2021?2025 (USD MILLION) 292
TABLE 378 UK: AMMUNITION MARKET, BY END USER, 2026?2031 (USD MILLION) 292
TABLE 379 UK: AMMUNITION MARKET, BY GUIDANCE, 2021?2025 (USD MILLION) 292
TABLE 380 UK: AMMUNITION MARKET, BY GUIDANCE, 2026?2031 (USD MILLION) 292
TABLE 381 UK: AMMUNITION MARKET, BY COMPONENT, 2021?2025 (USD MILLION) 293
TABLE 382 UK: AMMUNITION MARKET, BY COMPONENT, 2026?2031 (USD MILLION) 293
TABLE 383 ITALY: AMMUNITION MARKET, BY CALIBER, 2021?2025 (USD MILLION) 294
TABLE 384 ITALY: AMMUNITION MARKET, BY CALIBER, 2026?2031 (USD MILLION) 294
TABLE 385 ITALY: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 294
TABLE 386 ITALY: AMMUNITION MARKET, BY SMALL-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 294
TABLE 387 ITALY: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 295
TABLE 388 ITALY: AMMUNITION MARKET, BY MEDIUM-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 295
TABLE 389 ITALY: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2021?2025 (USD MILLION) 295
TABLE 390 ITALY: AMMUNITION MARKET, BY LARGE-CALIBER AMMUNITION,
2026?2031 (USD MILLION) 295
TABLE 391 ITALY: AMMUNITION MARKET, BY PRODUCT, 2021?2025 (USD MILLION) 296
TABLE 392 ITALY: AMMUNITION MARKET, BY PRODUCT, 2026?2031 (USD MILLIO