Small caliber ammunition industry was valued at $10.8 billion in 2021 and is estimated to generate $14.2 billion by 2031, witnessing a CAGR of 2.8% from 2022 to 2031.
Growing terrorist threats, increased gun use for safety reasons, and expansion in military modernization programs drive the small caliber ammunition market. However, regulatory restrictions in small caliber ammunition market are likely to hinder the market growth during the forecast period. On the other hand, the development of small caliber ammunition and the rising demand for lightweight ammunition will present new growth opportunities for the global market in the coming years.
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Small caliber ammunition refers to cartridges designed for firearms with a bore diameter of less than 0.50 inches (12.7 mm). This includes popular cartridges such as the .22 Long Rifle, 9mm, and .223 Remington. Small caliber ammunition is commonly used for target shooting, hunting, and self-defense. According to data from the Small Arms Survey, a research project based at the Graduate Institute of International and Development Studies in Geneva, Switzerland, there are approximately 12.3 billion small caliber cartridges are in circulation worldwide. This accounts for roughly 75% of all ammunition in circulation globally. The U.S. is the largest producer of small caliber ammunition, with an estimated production of 8.4 billion cartridges annually. Other major producers include Russia, Brazil, and China.
In terms of usage, small caliber ammunition is most used for target shooting and hunting. According to the National Shooting Sports Foundation, target shooting accounts for approximately 50% of all small caliber ammunition use in the United States, while hunting accounts for roughly 30%. The remaining 20% is used for self-defense, law enforcement, and military purposes.
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Based on region, the market in North America was the largest in 2021, accounting for nearly half of the global small caliber ammunition market and is likely to maintain its dominance during the forecast timeframe. This is owing to the high spending on military and armed forces in the region. However, the market in Europe is likely to show the fastest CAGR of 4.4% during the forecast period. This is owing to the rise in spending on new armed weapons in the region.
Leading Market Players
Vista Outdoor Inc.
CBC Global Ammunition
FN Herstal
Northrop Grumman Corporation
BAE Systems Plc
Poongsan Corporation
General Dynamics Corporation
Nammo AS
Olin Corporation
DSG Technology AS
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Furthermore, the U.S. is a major exporter of small caliber ammunition to other countries. In 2020, the U.S. exported approximately 2.2 billion cartridges of small caliber ammunition, making it the largest small caliber ammunition exporter in the world. Similarly, in February 2021, NATO made a standardized agreement of FN-designed 5.7x28mm caliber and recognized the cartridge under its standardized small caliber ammunition portfolio. Moreover, in Janary 2023, Remington Ammunition, a Vista Outdoor brand, announced the introduction of a revolutionary new cartridge, 360 Buckhammer. A Straight Up Better straight wall cartridge, 360 Buckhammer is optimized for lever-action rifles, deadly and accurate out to 200-yards or more.
The report analyzes these key players of the global small caliber ammunition industry. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
