Market Size of Europe Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Ammunition Market Analysis
- The European ammunition market is anticipated to register a CAGR of more than 3% during the forecast period.
- Due to the COVID-19 pandemic, industries were badly affected in Europe, and many countries in the region were on the verge of a recession that would exceed the economic depression that followed the 2008 financial crisis. Since the ramifications of such a situation for the defense sector could be catastrophic, the governments of the nations in the region mitigated the impact on the defense sector at an early phase.
- Thus, to defend political and defense interests, EU and NATO member states acted collaboratively and aggressively. A progressive and strategic increase in the European defense budget and the launch of infantry support projects are expected to create demand for sophisticated new-generation ammunition with advanced capabilities, thereby driving the market in focus during the forecast period.
- The Russia-Ukraine conflict has altered the European defense landscape. With NATO countries supplying large caches of weapons and other defense equipment to Ukraine, the demand has witnessed a new high due to the continuation of the war and the use of sophisticated weaponry on both sides.
- Reportedly, Russia fires approximately 20,000 rounds per day, while Ukraine fires between 4,000 and 7,000 rounds per day, signifying a great demand for ammunition. European nations are also procuring artillery and mortar systems to protect national borders against illegal trespassing and various types of trafficking, creating a considerable demand for associated ammunition.
