Market Overview
Ordnance
Market is projected to achieve a value of USD 183.6 Billion in 2023, with a
linear behavior in the market growth it is forecasted to achieve a value of USD
277.6 Billion by 2033 with a CAGR of 4.1% during the forecast period 2024-2033.
Ordnance
refers to military supplies, equipment, and munitions used by armed forces. It
encompasses a wide range of items, including firearms, ammunition, explosives,
artillery, and other military hardware and equipment. Ordnance is a critical
component of a nation's defense infrastructure and is used for various military
purposes, including combat, training, and defense.
Ordnance
plays a significant role in military operations, providing the means for
defense and offense in various combat scenarios. It is a critical aspect of
national security and is subject to strict control and management to prevent
misuse and accidents.
Market Scope
Report Attributes |
Description |
Market Size in 2023 |
USD 183.6 Billion |
Market Forecast in 2033 |
USD 277.6
Billion |
CAGR % 2024-2033 |
4.1% |
Base Year |
2023 |
Historic Data |
2016-2022 |
Forecast Period |
2024-2033 |
Report USP |
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
Segments Covered |
Product Type, Advancement, End-user and
Application |
Growth Drivers |
As military and
defense systems become more interconnected and reliant on technology, there
is an increased focus on securing defense infrastructure, including ordnance
facilities. R&D efforts in ordnance technology result in more effective and precise weaponry, driving demand for modern ordnance. Modern warfare often involves multiple domains, such as air, land, sea, space, and cyber. This requires a diverse range of ordnance for different operational scenarios. |
Regional Scope |
North America, Europe, APAC, South
America and Middle East and Africa |
Country Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies |
Lockheed Martin Corporation, Raytheon
Technologies Corporation, Northrop Grumman Corporation, General Dynamics
Corporation, The Boeing Company, BAE Systems, Thales Group, Leonardo S.p.A.,
Airbus Defence and Space, Norinco, Aviation Industry Corporation of China,
Hindustan Aeronautics Limited, Poongsan Corporation and Denel SOC Ltd among
others |
Market Dynamics
The
world is currently facing a number of geopolitical tensions and conflicts, such
as the ongoing war in Ukraine and the tensions between China and the United
States. These tensions and conflicts are leading to increased demand for
ordnance market from military and law enforcement agencies around the world.
Governments
around the world are increasing their defense spending in response to the
growing geopolitical tensions and conflicts. This increased defense spending is
leading to increased investment in ordnance development and procurement.
The
ordnance market is constantly developing new technologies to improve the
performance and effectiveness of ordnance products. These technological
advancements are making ordnance products more accurate, reliable, and lethal.
Precision-guided
ordnance (PGM) is a type of ordnance that uses guidance systems to accurately
strike its target. PGM is becoming increasingly popular due to its accuracy and
effectiveness.
Growing
demand for unmanned aerial vehicles (UAVs) and other weaponized platforms. UAVs
and other weaponized platforms are increasingly being used by military and law
enforcement agencies. These platforms can be armed with a variety of ordnance
products, including bombs, missiles, and rockets.
Market Product Type Analysis
Ammunition
is the largest segment of the ordnance market, accounting for over 45% of the
market share. This is due to the high demand for ammunition from military and
law enforcement agencies around the world. Ammunition is the most common type
of ordnance. It is used in firearms, such as pistols, rifles, and machine guns.
Ammunition comes in a variety of calibers and types, such as ball, hollow
point, and armor-piercing.
Explosives
is the second-largest segment of the market, accounting for over 25% of the
market share. Explosives are used in a variety of ordnance products, such as
bombs, missiles, and rockets. Explosives are also used in demolitions and other
non-military applications.
Missiles
and rockets are also significant segments of the ordnance market, accounting
for 15% and 10% of the market share, respectively. Missiles are guided
projectiles that can be launched from a variety of platforms, such as aircraft,
ships, and submarines. Missiles can be armed with a variety of warheads, such
as conventional, nuclear, and chemical.
Market Application Analysis
Combat
is the largest application segment of the ordnance market, accounting for over
60% of the market share. This is due to the high demand for ordnance from
military and law enforcement agencies around the world. Ordnance is used in
combat by military and law enforcement agencies to engage and neutralize
adversaries. Ordnance used in combat includes ammunition, explosives, missiles,
and rockets.
Training
is the second-largest application segment of the market, accounting for over
30% of the market share. Ordnance is used in training by military and law
enforcement personnel to learn how to use and maintain ordnance products.
Ordnance used in training includes inert ordnance, training ammunition, and
simulation systems.
Demolition
and construction is the smallest application segment of the ordnance market,
accounting for over 10% of the market share. Ordnance is used in demolition and
construction to demolish structures and to create new structures. Ordnance used
in demolition and construction includes explosives, shaped charges, and
demolition charges.
Market End-User Analysis
The
armed forces are the largest end-user of ordnance market, accounting for over
80% of the market share. This is due to the high demand for ordnance from
military and law enforcement agencies around the world. The armed forces use
ordnance in combat and training. Ordnance used by the armed forces includes
ammunition, explosives, missiles, and rockets.
Law
enforcement agencies are the second-largest end-user of ordnance, accounting
for over 10% of the market share. Law enforcement agencies use ordnance in
special operations and to disable dangerous devices. Ordnance used by law
enforcement agencies includes flashbang grenades, tear gas, and beanbag rounds.
Civilian
consumers use ordnance for hunting, recreational shooting, and self-defense.
Ordnance used by civilian consumers includes ammunition, firearms, and
reloading supplies.
Market Regional Analysis
North
America is the largest market for ordnance, accounting for over 40% of the
global market share. This is due to the high defense spending by the United
States government and the presence of major ordnance manufacturers in the
region. The North American ordnance market is dominated by the United States.
The US government is the largest purchaser of ordnance in the world. Major
ordnance manufacturers in North America include Northrop Grumman, Raytheon
Technologies, and Boeing.
Europe
is the second-largest market for ordnance, accounting for over 30% of the
global market share. The European ordnance market is dominated by the United
Kingdom, France, and Germany. Major ordnance manufacturers in Europe include
BAE Systems, Thales Group, and MBDA.
Asia-Pacific
is the third-largest market for ordnance, accounting for over 20% of the global
market share. The Asia-Pacific market is dominated by China, India, and Japan.
Major ordnance manufacturers in Asia-Pacific include China Aerospace Science
and Technology Corporation (CASC), Hindustan Aeronautics Limited (HAL), and
Mitsubishi Heavy Industries.
The
Middle East & Africa and Latin America regions account for the remaining
10% of the global market share. The Middle East & Africa ordnance market is
dominated by Saudi Arabia, the United Arab Emirates, and Egypt. Major ordnance
manufacturers in the Middle East & Africa include Saudi Arabian Military
Industries (SAMI), Emirates Defense Industries (EDI), and Arab Organization for
Industrialization (AOI). The Latin American market is dominated by Brazil,
Mexico, and Argentina. Major ordnance manufacturers in Latin America include
Embraer, Avibras Indústria Aeroespacial, and Fábrica Argentina de Materiales
Aeronáuticos (FAMA).
Competitive Analysis
Northrop
Grumman is the leading player in the ordnance market, with a market share of
15%. Raytheon Technologies and Boeing are the second- and third-largest players
in the market, with market shares of 10% and 8%, respectively. Lockheed Martin,
BAE Systems, Thales Group, MBDA, Leonardo, Kongsberg Gruppen, Israel Aerospace
Industries, and Elbit Systems are the other major players in the ordnance
industry.
The
ordnance market is highly competitive, with a number of players competing for
market share. The key players in the market are focusing on innovation and
developing new products and services to meet the growing demand for ordnance
from military and law enforcement agencies around the world.
Research
Report Following Segments:
Market, By Type
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DC Powered
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AC Powered
Market, By Application
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Commercial Building
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Others
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Global Ordnance market was valued at USD 836.6 Million in 2023 and is estimated to reach value of 277.6 million by 2033.
China, Japan, India, Spain, Brazil, France and Italy are the fastest growing countries within the global market.
Lockheed Martin, BAE Systems, Thales Group, MBDA, Leonardo, Kongsberg Gruppen, Israel Aerospace Industries, and Elbit Systems are the top companies in the market.
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