The global Small Caliber Ammunition Market was valued at USD 5.75 billion in 2024 and is projected to grow from USD 5.99 billion in 2025 to USD 7.09 billion by 2029, at a CAGR of 4.3% during the forecast period. The global small caliber ammunition round consumption is expected to grow from 7,003 million units to 8,661 million units by 2029. The growth is primarily driven by increasing defense expenditures, rising geopolitical tensions, and advancements in small caliber ammunition technology. Innovations such as self-steering bullets and advanced propellants are poised to redefine market dynamics, while the proliferation of illicit ammunition manufacturers and stringent regulatory restrictions pose significant challenges.