The Global Ammunition Market was valued at USD 28.98 billion in 2024 and is projected to grow from USD 29.99 billion in 2025 to USD 33.12 billion by 2028, at a CAGR of 3.4% during the forecast period. This robust growth trajectory is propelled by escalating geopolitical tensions, increasing military expenditures, and modernization initiatives by defense forces globally. The market is also witnessing significant technological advancements in ammunition design and production, which are expected to further drive its expansion.