Asia Pacific Ammunition Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Asia-Pacific Ammunition Market Report is Segmented by Type (Small Caliber, Medium Caliber, and Large Caliber), End User (Civilian and Law Enforcement, and Military), and Country (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Asia Pacific Ammunition Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Asia-Pacific Ammunition Market Size

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Asia-Pacific Ammunition Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 2.69 Billion
Market Size (2030) USD 3.41 Billion
CAGR (2025 - 2030) 4.83 %
Market Concentration Medium

Major Players

Asia-Pacific Ammunition Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Asia-Pacific Ammunition Market Analysis

The Asia-Pacific Ammunition Market size is estimated at USD 2.69 billion in 2025, and is expected to reach USD 3.41 billion by 2030, at a CAGR of 4.83% during the forecast period (2025-2030).

The Asia-Pacific ammunition market is experiencing significant transformation driven by escalating geopolitical tensions and territorial disputes across the region. Cross-border conflicts between various nations, including China-India border disputes and tensions in the South China Sea, have led to an increased focus on military preparedness. According to the Stockholm International Peace Research Institute (SIPRI), China maintained its position as the second-largest defense spender globally in 2022, with a defense budget of USD 292 billion, highlighting the region's commitment to military strengthening. The growing emphasis on national security has resulted in countries modernizing their armed forces and upgrading their weaponry systems to maintain strategic advantages.


Technological advancements in ammunition manufacturing have become a crucial factor shaping market dynamics. Countries across the region are investing in developing smart ammunition for defense with enhanced precision, range, and effectiveness. In February 2024, IIT Madras partnered with Munitions India to develop India's first indigenous 155mm guided smart ammunition, capable of operating with both 39 and 45-caliber artillery guns and featuring sophisticated capabilities such as height of burst control and three-mode fuse operation. This trend towards advanced ammunition systems reflects the broader shift towards more sophisticated military capabilities in the region.


The market is witnessing a significant transformation in domestic manufacturing capabilities and export potential. India's defense exports have shown remarkable growth, reaching USD 2.63 billion in FY 2023-24, representing a 32.5% increase over the previous fiscal year. Countries are increasingly focusing on establishing robust domestic ammunition manufacturing infrastructure, as evidenced by Australia's October 2023 announcement of a USD 139 million investment to enhance domestic munitions manufacturing, particularly focusing on 155mm artillery shells and rocket motors.


The civilian and law enforcement segment represents a distinct market dynamic, with increasing demand for small-caliber ammunition for applications such as hunting, sports shooting, and personal protection. Japan's strict regulatory framework allows only police and military personnel to purchase handguns or rifles, while hunters and target shooters can possess shotguns and handguns under strictly controlled conditions. In February 2024, South Korea commenced mass production of new 155mm projectiles for self-propelled artillery units, with an initial order of 2,000 projectiles to be delivered by the end of 2024, demonstrating the ongoing modernization of ammunition capabilities across both military and law enforcement sectors. The focus on ballistic technology further underscores the region's commitment to enhancing defense capabilities.

Segment Analysis: By Type

Small Caliber Segment in Asia-Pacific Ammunition Market

The small caliber ammunition segment dominates the Asia-Pacific ammunition market, holding approximately 52% of the market share in 2024. This significant market position is primarily driven by the increasing use of handguns and shotguns across both civilian and defense applications. The segment's dominance is reinforced by the growing demand from military modernization programs in countries like India, China, and South Korea, which are investing substantially in enhancing their ground forces' capabilities with state-of-the-art small arms. The procurement for military and law enforcement training personnel serves as a constant source of demand, while border disputes, threats from militants and terrorists, as well as civil security needs, continue to drive the underlying demand across all nations. Additionally, the segment's growth is supported by increasing investments in defense for military modernization programs aimed at procuring better equipment to replace existing arsenals. The use of cartridge technology in small caliber ammunition is also a contributing factor to its market dominance.

Market Analysis of Asia-Pacific Ammunition Market: Chart for By Type

Medium Caliber Segment in Asia-Pacific Ammunition Market

The medium caliber ammunition segment is experiencing steady growth in the Asia-Pacific region, driven primarily by armed forces' procurement and upgrade activities to counter emerging threats. Several contracts for military aircraft, helicopters, infantry fighting vehicles (IFVs), and armored personnel carriers (APCs) mounted with medium caliber turret guns are currently underway, creating parallel demand for medium caliber ammunition. There is also a notable rise in demand from regional navies as countries look to strengthen their naval combat capabilities by procuring new naval combat ships and adding medium caliber guns. For instance, in February 2024, the Australian government announced doubling its warship fleet and boosting its defense spending by an additional USD 7.25 billion, while in November 2023, the Indian Ministry of Defence signed a contract with Bharat Heavy Electricals Limited (BHEL) to procure 16 Upgraded Super Rapid Gun Mounts along with associated equipment for the Indian Navy. The integration of advanced projectiles in medium caliber ammunition systems is enhancing their effectiveness in military applications.

Large Caliber Segment in Asia-Pacific Ammunition Market

The large caliber ammunition segment maintains a significant presence in the Asia-Pacific ammunition market, primarily driven by the procurement of howitzers, artillery systems, and other heavy weaponry. This segment encompasses ammunition ranging from 40mm to 155mm caliber sizes, including all types of lethal and non-lethal ammunition, artillery, and rockets. The segment's growth is supported by increasing geopolitical tensions and territorial disputes in the region, prompting governments to enhance their artillery capabilities. Countries across the Asia-Pacific region have been actively collaborating with major ammunition manufacturers to support their indigenous defense capabilities, leading to several development programs and procurement initiatives for large caliber ammunition systems. The demand for reloading components in this segment is also on the rise as countries seek to maintain a steady supply of large caliber ammunition.

Segment Analysis: By End User

Military Segment in Asia-Pacific Ammunition Market

The military segment dominates the Asia-Pacific ammunition market, commanding approximately 95% of the total market share in 2024. This dominance is primarily attributed to increasing defense expenditure and expanding military forces from countries such as China and India, which are among the world's largest defense spenders. The procurement of artillery and mortar systems to safeguard borders against illegal trespassing and various forms of trafficking generates substantial demand for ammunition. Countries across the region are actively investing in research and development to enhance their military capabilities, with a particular focus on developing advanced ammunition technologies. The growing emphasis on strengthening military forces and the procurement of sophisticated weapons systems, coupled with rising geopolitical tensions and border disputes, continues to drive significant demand in this segment. The integration of defense ammunition technologies is crucial in maintaining the operational readiness of military forces.

Civilian and Law Enforcement Segment in Asia-Pacific Ammunition Market

The civilian and law enforcement segment is projected to experience the fastest growth rate of approximately 6% during the forecast period 2024-2029. This growth is driven by increasing demand for small-caliber ammunition due to the rising adoption of firearms by law enforcement agencies and licensed civilian users. The segment's expansion is further supported by the growing number of shooting ranges and increasing participation in sporting activities. Law enforcement agencies across the region are modernizing their equipment and focusing on enhanced training programs, which necessitates a steady supply of ammunition. Additionally, the implementation of new security measures and the need for specialized ammunition for various law enforcement operations contributes to the segment's growth trajectory. The use of advanced cartridge technologies in civilian applications is also contributing to the segment's expansion.

Asia-Pacific Ammunition Market Geography Segment Analysis

Ammunition Market in Asia-Pacific

The Asia-Pacific ammunition market has emerged as a significant player in the global defense landscape, commanding approximately 26% of the global market share in 2024. The region's market is primarily driven by increasing defense expenditures across major economies and a growing focus on enhancing military capabilities. Rising political disputes among neighboring countries and cross-border conflicts between China, India, and Pakistan have led to substantial investments in defense capabilities. The market is witnessing a notable shift towards the localization of arms and ammunition manufacturing, with countries implementing initiatives to boost domestic production capabilities. Small-caliber cartridges dominate the market due to their widespread use in both military and civilian applications. The region's focus on modernizing armed forces and upgrading weaponry has created sustained demand for advanced projectile types, while increasing terrorist activities have further necessitated the strengthening of defense capabilities.

Ammunition Market in China

China's ammunition market has demonstrated steady growth, recording approximately 2% CAGR from 2019 to 2024, driven by its position as the second-largest defense spender globally. The country's market is characterized by its robust domestic manufacturing capabilities through state-owned enterprises like NORINCO and AVIC. China's ammunition sector benefits from significant government support and investment in military modernization programs. The market's growth is primarily fueled by ongoing territorial disputes, particularly in the South China Sea and along its borders with neighboring countries. The country has developed a comprehensive ecosystem of ammunition manufacturing, encompassing everything from small arms to advanced artillery projectiles. China's focus on technological advancement in ammunition manufacturing, including the development of smart ammunition and precision-guided systems, has strengthened its market position. The domestic market is largely self-sufficient, with state-owned manufacturers meeting most of the military's ammunition requirements.

Ammunition Market in India

India's ammunition market is projected to grow at approximately 6% CAGR from 2024 to 2029, establishing itself as a dominant force in the Asia-Pacific region. The country's ammunition sector is undergoing significant transformation through initiatives like 'Make in India' and 'Atmanirbhar Bharat', which promote indigenous manufacturing capabilities. The market is characterized by a mix of state-owned enterprises and private sector participation, creating a diverse manufacturing ecosystem. India's ammunition industry is experiencing rapid modernization with investments in advanced manufacturing technologies and R&D facilities. The country's focus on self-reliance in defense manufacturing has led to the development of various ammunition types, from small arms to artillery shells. The market benefits from strong government support through policies promoting domestic production and export opportunities. India's strategic position and security challenges continue to drive demand for various types of ammunition, supporting sustained market growth.

Ammunition Market in Japan

Japan's ammunition market is experiencing significant transformation driven by the country's shifting defense policies and regional security concerns. The market is characterized by sophisticated manufacturing capabilities and a strong focus on quality control in ammunition production. Japan's ammunition sector benefits from advanced technological infrastructure and robust research and development activities. The country's market is primarily focused on meeting domestic defense requirements, with recent policy changes allowing for limited exports under specific conditions. The ammunition industry in Japan is closely integrated with the country's overall defense industrial base, ensuring synchronized development of weapons systems and compatible cartridges. The market is supported by established manufacturers with expertise in precision engineering and quality control. Japan's strategic focus on maintaining technological superiority in defense capabilities continues to drive innovations in ammunition development.

Ammunition Market in South Korea

South Korea's ammunition market demonstrates strong domestic manufacturing capabilities supported by advanced technological infrastructure. The market is characterized by a robust defense industrial base that includes major manufacturers like Poongsan Corporation and Hanwha Corporation. The country's ammunition sector benefits from significant government support and investment in research and development. South Korea's market is driven by its strategic need to maintain military readiness, particularly given regional security dynamics. The ammunition industry has developed expertise in various ammunition types, from small arms to artillery projectiles, supporting both domestic requirements and export opportunities. The market benefits from strong integration between military requirements and industrial capabilities, ensuring focused development of ammunition types. South Korea's commitment to military modernization continues to drive innovations in ammunition manufacturing.

Ammunition Market in Australia

Australia's ammunition market is characterized by a strategic focus on maintaining self-reliance in critical ammunition manufacturing capabilities. The market benefits from strong government support for domestic manufacturing capabilities and international partnerships with leading ammunition manufacturers. Australia's ammunition sector is undergoing modernization with investments in advanced manufacturing facilities and technologies. The market is driven by the country's defense requirements and its strategic position in the Indo-Pacific region. The ammunition industry maintains high standards of quality control and safety in manufacturing processes. The sector benefits from collaboration between defense forces and manufacturers in developing ammunition specifications. Australia's commitment to maintaining strong defense capabilities continues to drive development in ammunition manufacturing capabilities.

Asia-Pacific Ammunition Industry Overview

Top Companies in Asia-Pacific Ammunition Market

The Asia-Pacific ammunition market features a mix of global defense contractors and regional specialists focusing on continuous innovation and strategic expansion. Companies are increasingly investing in advanced manufacturing capabilities to develop precision-guided munitions and smart ammunition technologies, while simultaneously expanding their production capacities to meet growing regional defense requirements. Market leaders are strengthening their positions through strategic partnerships with local manufacturers, particularly in countries like India and South Korea, to enhance their regional presence and comply with indigenous manufacturing requirements. Operational agility is being achieved through the digitalization of manufacturing processes and supply chain optimization, with companies investing in automated production lines and quality control systems. The competitive landscape is further shaped by companies developing specialized ammunition variants for specific military applications while also diversifying into civilian and law enforcement segments.

Market Dominated by Defense Industry Giants

The competitive structure of the Asia-Pacific ammunition market is characterized by the strong presence of large defense conglomerates alongside specialized ammunition manufacturers. Global players like BAE Systems, Rheinmetall AG, and General Dynamics maintain significant market positions through their extensive product portfolios and established relationships with military organizations. Regional players such as Poongsan Corporation and Singapore Technologies Engineering have carved out strong positions in their respective markets through a deep understanding of local requirements and strong government relationships.


The market exhibits moderate consolidation with established players controlling major market share through their technological capabilities and long-term defense contracts. Merger and acquisition activities are primarily focused on acquiring specialized defense ammunition technologies and expanding regional manufacturing footprints. Companies are increasingly forming joint ventures and strategic partnerships to combine technological expertise with local manufacturing capabilities, particularly in emerging markets like India, where government policies strongly favor domestic production.

Innovation and Localization Drive Market Success

Success in the Asia-Pacific ammunition market increasingly depends on companies' ability to combine technological innovation with local manufacturing capabilities. Incumbent players are maintaining their market positions by investing in research and development of advanced ammunition technologies, establishing robust supply chains, and developing strong relationships with defense procurement agencies. Companies are also focusing on vertical integration strategies to control costs and ensure a reliable supply of critical components, while simultaneously expanding their product portfolios to serve diverse military and civilian requirements.


For new entrants and emerging players, success strategies center around identifying and serving niche market segments, developing specialized ammunition variants, and establishing a strong local manufacturing presence. The high concentration of military customers and stringent regulatory requirements create significant entry barriers, making strategic partnerships with established players crucial for market entry. Future market success will increasingly depend on companies' ability to adapt to evolving military requirements, comply with stricter environmental regulations, and maintain cost competitiveness while delivering high-performance defense ammunition solutions. Additionally, the development of training ammunition and advancements in ballistics are becoming pivotal in meeting the diverse needs of military forces across the region.

Asia-Pacific Ammunition Market Leaders

  1. Rheinmetall AG

  2. BAE Systems plc

  3. Poongson Corporation

  4. General Dynamics Corporation

  5. Singapore Technologies Engineering Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Cocentration-APAC Ammunition Market Concentration
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Asia-Pacific Ammunition Market News

  • February 2024: China showcased its newly developed ASN-301 loitering munition in Saudi Arabia. Designed to infiltrate adversary airspace, the ASN-301's main function is to loiter until it picks up a radar signal. Upon detection, the ASN-301 targets the signal and precisely strikes. Equipped with a warhead containing 7,000 fragments, the munition is activated by a proximity laser fuse, ensuring a lethal radius of 20 meters.
  • February 2023: The Indian Ministry of Defence (MoD) selected five domestic ammunition manufacturers to supply 2,000 155mm terminally guided munitions (TGMs) for the existing 155-mm artillery guns.

APAC Ammunition Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Small Caliber
    • 5.1.2 Medium Caliber
    • 5.1.3 Large Caliber
  • 5.2 By End User
    • 5.2.1 Civilian and Law Enforcement
    • 5.2.2 Military
  • 5.3 By Country
    • 5.3.1 China
    • 5.3.2 India
    • 5.3.3 Japan
    • 5.3.4 South Korea
    • 5.3.5 Australia
    • 5.3.6 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Rheinmetall AG
    • 6.2.2 Poongson Corporation
    • 6.2.3 Hanwha Corporation
    • 6.2.4 BAE Systems PLC
    • 6.2.5 KNDS NV
    • 6.2.6 General Dynamics Corporation
    • 6.2.7 Winchester Ammunition (Olin Corporation)
    • 6.2.8 CBC Global Ammunition
    • 6.2.9 Remington Arms Company LLC (Vista Outdoor Inc.)
    • 6.2.10 Singapore Technologies Engineering Ltd
    • 6.2.11 Munitions India Limited
    • 6.2.12 Yantra India Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Asia-Pacific Ammunition Industry Segmentation

Ammunition is the projectile with the primers, fuses, and propelling charges fired from the gun. The ammunition is used for various civilian and military applications.

The Asia-Pacific ammunition market is segmented by type, end user, and country. By type, the market is segmented into small-caliber, medium-caliber, and large-caliber. By end user, the market is segmented into civilian and law enforcement and military. The military segment comprises the Army, Navy, and Air Force. The civilian segment encompasses homeland security, local law enforcement agencies, and licensed civilian users. By country, the market is segmented into China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific. The report offers the market size and forecasts for major countries across the region. For each segment, the market sizing and forecasts were made based on value (USD).

By Type Small Caliber
Medium Caliber
Large Caliber
By End User Civilian and Law Enforcement
Military
By Country China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
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APAC Ammunition Market Research FAQs

How big is the Asia-Pacific Ammunition Market?

The Asia-Pacific Ammunition Market size is expected to reach USD 2.69 billion in 2025 and grow at a CAGR of 4.83% to reach USD 3.41 billion by 2030.

What is the current Asia-Pacific Ammunition Market size?

In 2025, the Asia-Pacific Ammunition Market size is expected to reach USD 2.69 billion.

Who are the key players in Asia-Pacific Ammunition Market?

Rheinmetall AG, BAE Systems plc, Poongson Corporation, General Dynamics Corporation and Singapore Technologies Engineering Ltd. are the major companies operating in the Asia-Pacific Ammunition Market.

What years does this Asia-Pacific Ammunition Market cover, and what was the market size in 2024?

In 2024, the Asia-Pacific Ammunition Market size was estimated at USD 2.56 billion. The report covers the Asia-Pacific Ammunition Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Ammunition Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Asia-Pacific Ammunition Market Research

Mordor Intelligence offers comprehensive expertise in analyzing the Asia-Pacific ammunition industry. The report provides detailed insights into munitions manufacturing and supply chain dynamics. Our research thoroughly examines projectiles specifications, cartridge designs, and ballistics testing methodologies across the region. The analysis includes a thorough review of manufacturing processes, such as reloading components and quality control measures. This information is available in an easy-to-download report PDF format.

Our detailed market analysis benefits stakeholders across the ammunition value chain, from manufacturers to end-users. We focus particularly on defense ammunition applications and military requirements. The report explores emerging technologies in training ammunition development, regional procurement patterns, and regulatory frameworks affecting ammunition production and distribution. Stakeholders gain access to comprehensive data on production capabilities, technological advancements, and strategic insights for informed decision-making in the Asia-Pacific region.