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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·         AC Powered

Market, By Application

·         Residential Building

·         Commercial Building

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·         Others

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