Firearms And Ammunition Market Scope
Firearms is a gun that is designed to be used by an individual. Whereas ammunition is the material fired from firearms. It is expandable and a part of another weapon. Both of them are dependent on each other. Over the 5 years, the manufacturing of guns and ammunition has increased. Due to the increasing asymmetric warfare, the demand for arms and ammunition is growing. According to American gun facts, the gun ownership rate per 100 residents is 88.8 in the USA, 54.8 in Yemen, and 45.7 in Switzerland. The global firearms and ammunition market was estimated to be around USD 31,078 million in 2019, according to the AMA study.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Smith & Wesson (United States), Remington Arms Company, LLC. (United States), Beretta (Italy), Winchester Repeating Arms (United States), Northrop Grumman Corporation (United States), General Dynamics (United States), Sturm, Ruger & Co (United States), Glock Ges.m.b.H. (Austria), Companhia Brasileira de Cartuchos (Brazil), SIG Sauer (Germany), Colt Defense LLC (United States), Heckler & Koch (Germany), Springfield Armory, Inc. (United States), Barret Firearms (United States), Browning Arms Company, Savage Arms (United States), Weatherby, Inc. (United States), Carl Walther GmbH (Germany), RUAG Group (Switzerland), Olin Corporation (United States), Herstal SA (Belgium) and BAE Systems |
CAGR | 2.72% |
"According to AMA, the Global Firearms And Ammunition market is expected to see growth rate of 2.72% and may see market size of USD36527.0 Million by 2028."The competitive landscape of firearms and ammunition is characterized by a diverse range of players vying for market share. These companies offer a variety of firearms and ammunition products to cater to different customer needs and preferences. Innovation, quality, and performance are key factors driving competition in this sector. Players in the firearms and ammunition market focus on developing advanced firearm technologies, enhancing safety features, and improving the efficiency and effectiveness of ammunition. Pricing, distribution networks, and partnerships with retailers and law enforcement agencies also play significant roles in gaining a competitive edge. Overall, the firearms and ammunition market is highly competitive, with companies continuously striving to meet the demands of firearm enthusiasts, sport shooters, and professional users while complying with legal regulations and promoting responsible firearm use. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Firearms And Ammunition market throughout the predicted period.
Smith & Wesson (United States), Remington Arms Company, LLC. (United States), Beretta (Italy), Winchester Repeating Arms (United States), Northrop Grumman Corporation (United States), General Dynamics (United States), Sturm, Ruger & Co (United States), Glock Ges.m.b.H. (Austria), Companhia Brasileira de Cartuchos (Brazil), SIG Sauer (Germany), Colt Defense LLC (United States), Heckler & Koch (Germany), Springfield Armory, Inc. (United States), Barret Firearms (United States), Browning Arms Company, Savage Arms (United States), Weatherby, Inc. (United States), Carl Walther GmbH (Germany), RUAG Group (Switzerland), Olin Corporation (United States), Herstal SA (Belgium) and BAE Systems are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Fiocchi Munizioni (Italy), Hornady Manufacturing Company Inc. (United States), Nammo A.S. (Norway), Nexter Group (France), Prvi Partizan A.D. (Serbia) and Rheinmetall AG (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Firearms And Ammunition market by Type , by Application (Civil & Commercial, Defense and Others) and Region with country level break-up. On the basis of Type, Firearms are dominating the market in the year 2022 where as Ammunition stood as second largest market share.
On the basis of application, Civil & Commercial segment is dominating the market in the year 2022 where as Defense segment stood as second largest market.
On the basis of geography, the market of Firearms And Ammunition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In May 2021, AMMO, Inc., a leading American manufacturer of ammunition, munition components, and technology solutions, announced the completion of the acquisition of GunBroker.com. GunBroker.com is the world's largest online auction marketplace specializing in firearms, hunting, shooting, and related products. The successful transaction involved a merger of reorganized entities with an approximate value of USD 240 million, resulting in GunBroker.com and its affiliated entities becoming a wholly owned subsidiary of AMMO.
In June 2023, Digital Arms and Barrett Firearms introduced the Barrett M82A1 Non-Fungible Token (NFT) collection. This groundbreaking collaboration brings the iconic Barrett M82A1, celebrated for its exceptional performance and dependability, into the realm of digital assets. Collectors now have the extraordinary chance to possess a piece of digital history through this innovative partnership.
Influencing Trend:
Development of Lead Free Bullets by Key Players and Technological Developments are Being Done for Light Weight and High Range Bullets
Market Growth Drivers:
Development of Interests in Hunting and Shooting and Rising Concern for Personal Defense
Challenges:
Defense Budget of Various Developed And Developing Countries Negatively Affects the Market
Restraints:
Expensive Transportation of Heavy Arms and Ammunition, Government and Trade Policies, and Increasing Number of Illicit Firearms will Hamper the Market and Fluctuation in Raw Material Prices
Opportunities:
Increase in Defense Expenditure by Various Countries and Rising Terrorist Activities around the Globe Is Creating an Opportunities for Arms and Ammunition
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations