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Ammunition Market to Grow by USD 3.9 Billion from 2024-2028, Driven by Geopolitical Conflicts and Tensions; AI Impact on Market Trends – Technavio

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NEW YORK, Sept. 27, 2024 /PRNewswire/ — The Global Ammunition Market size is estimated to grow by USD 3.9 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.21%  during the forecast period. Prevalence of geopolitical conflicts, political tensions, and cross-border issues is driving market growth, with a trend towards growing asymmetric warfare worldwide. However, proliferation of illicit ammunition manufacturers  poses a challenge – Key market players include Adani Group, AMMO Inc., BAE Systems Plc, BERETTA HOLDING SA, CBC Ammunition, Denel SOC Ltd., Elbit Systems Ltd., Fabbrica dArmi Pietro Beretta S.p.A., General Dynamics Corp., Ordnance LLC, Hanwha Corp., Herstal SA, Industrias Tecnos S.A. De C.V., KNDS N.V., Lockheed Martin Corp., Mesko SA, Nammo AS, Northrop Grumman Corp., Olin Corp., Polska Grupa Zbrojeniowa SA, Poongsan Corp., Rheinmetall AG, Singapore Technologies Engineering Ltd., Thales Group, and Vista Outdoor Inc..

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Ammunition Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3.21%

Market growth 2024-2028

USD 3.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.07

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key countries

US, China, Russia, India, and UK

Key companies profiled

Adani Group, AMMO Inc., BAE Systems Plc, BERETTA HOLDING SA, CBC Global Ammunition, Denel SOC Ltd., Elbit Systems Ltd., Fabbrica dArmi Pietro Beretta S.p.A., General Dynamics Corp., Global Ordnance LLC, Hanwha Corp., Herstal SA, Industrias Tecnos S.A. De C.V., KNDS N.V., Lockheed Martin Corp., Mesko SA, Nammo AS, Northrop Grumman Corp., Olin Corp., Polska Grupa Zbrojeniowa SA, Poongsan Corp., Rheinmetall AG, Singapore Technologies Engineering Ltd., Thales Group, and Vista Outdoor Inc.

Market Driver

Asymmetric warfare, characterized by significant differences in military capabilities and strategies between opposing forces, has become prevalent in various global conflicts. Guerrilla warfare, a form of asymmetric warfare, is employed by militant groups who do not occupy large bases and instead use surprise attacks, ambushes, and terrorist tactics. Night combat is a common strategy in such conflicts, leading to an increased demand for advanced imaging systems and ammunition. The US military has utilized passive night vision devices and thermal imagers in weapons such as RPG-7 rocket launchers, M-72 66mm Light Anti-Tank Weapons, M-79 40mm grenade launchers, and M-67 90mm recoilless rifles. The Middle East’s economic and political instability over the last quarter-century has resulted in numerous instances of asymmetric warfare, increasing the demand for ammunition. Consequently, the global ammunition market is anticipated to grow during the forecast period. 

The Ammunition Market is experiencing significant growth due to the demand for newer generation ammunition by armed forces and militaries worldwide. Penetrating power and accuracy are key factors driving this trend. Training ammunition is also in high demand for peacekeeping missions and military personnel training. Companies like Rheinmetall and General Dynamics lead the market with innovative solutions, such as polymer-cased ammunition and advanced calibers. Militaries are modernizing their infantry weapons, leading to increased competition among munitions manufacturers. Military spending and geopolitical tensions continue to fuel demand for combat equipment, arms, and ammunition. Law enforcement agencies and reserve forces also contribute to the market’s gross volume. Expressions of Interest for artillery guns and the development of new calibers, like the Advanced 9mm Cartridge, further boost the industry. The area of impact and munition range are crucial considerations for military personnel, leading to the stockpiling of war reserves and inventory management. Terrorism and warfare equipment also contribute to the market’s growth. 

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Market Challenges

The global ammunition market faces significant challenges due to the illicit production and trade of ammunition. According to the United Nations Office of Disarmament Affairs (UNODA), over 80% of ammunition trade remains outside of reliable export data. The causes of weapons diversion are classified into six major categories by Conflict Armament Research (CAR): battlefield capture, loss from state custody, state-sponsored diversion, poorly managed national stockpiles, state collapse, and unknown causes. However, expert groups monitoring UN arms embargoes attribute the deviation of ammunition to the lack of basic accountability systems. The proliferation of illicit ammunition manufacturers poses a major threat to global security, as these manufacturers produce and transfer unmarked ammunition across international borders. This illegally manufactured ammunition is often used in terrorist activities and negatively impacts the demand for branded ammunition. Therefore, the rise of illicit ammunition manufacturers is expected to negatively impact the growth of the global ammunition market during the forecast period.The Ammunition Market faces numerous challenges in various sectors. In the military and law enforcement arenas, terrorism and warfare equipment requirements drive demand for ammunition and combat equipment. Defense budgets prioritize inventory for armed personnel, necessitating stockpiling of war reserves, artillery, and small-caliber ammunition. In civilian sectors, demand comes from sporting, hunting, self-defense, and territorial conflicts. Political instabilities, economic inequalities, and ceasefire violations fuel the need for military ordnance. The ammunition industry confronts regulatory hurdles, including restrictive legislation and compliance issues. The Gun Control bill and the Arms Trade Treaty, as multilateral treaties, impact international measures. Military modernization calls for infantry support programs and weaponry upgrades, often in specific calibers. Cross-border terrorism and drug trafficking activities further complicate the landscape. The ammunition market must adapt to these challenges while addressing civilian disarmament initiatives and firearms-related products.

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Segment Overview 

This ammunition market report extensively covers market segmentation by

Product 1.1 Small caliber1.2 Medium caliber1.3 Large caliberApplication 2.1 Defense2.2 Civil and commercialGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Small caliber-  The ammunition market is a significant sector in the global defense industry. Companies manufacture and supply various types of ammunition, including small arms, artillery, and missile ammunition, to military forces and law enforcement agencies. Demand for ammunition is driven by military training and combat operations. Key players in the market include Rheinmetall, Nammo, and BAE Systems. Competition is fierce, and companies focus on innovation, quality, and cost-effectiveness to gain an edge. The market size is expected to grow due to ongoing military modernization programs and increasing defense budgets.

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Research Analysis

The Ammunition Market encompasses the production and sale of warfare equipment, including ammunition, combat equipment, and arms, for military and law enforcement agencies. Defense budgets play a significant role in driving demand for ammunition, as armed personnel rely on a constant supply of cartridges to maintain readiness. The industry continues to innovate, with newer generation ammunition offering increased penetrating power and improved performance for armed forces and militaries. Rifles come in various calibers, with the Advanced 9mm Cartridge gaining popularity due to its versatility and effectiveness. The ammunition industry caters to the unique needs of military and law enforcement agencies, ensuring they have access to reliable and effective equipment for training and combat situations.

Market Research Overview

The Ammunition Market encompasses a wide range of products used in warfare equipment and combat situations. These include bullets, artillery shells, and other firearms-related products. Factors driving the market include terrorism, wars, cross-border terrorism, political instabilities, territorial conflicts, and economic inequalities. Military modernization, military spending, and geopolitical tensions are also significant factors. The market caters to armed personnel in military and law enforcement agencies, as well as civilian sectors for sporting, hunting, self-defense, and infantry support programs. The industry faces regulatory hurdles, compliance issues, and restrictive legislation such as the Arms Trade Treaty and Gun Control bill. Newer generation ammunition with increased penetrating power is in high demand, along with training ammunition for peacekeeping missions and rifles in various calibers. Companies produce artillery guns, munitions, and polymer-cased ammunition to meet the demands of militaries and military personnel, with competition among active military personnel, reserve forces, and civilian sectors driving expression of interest in advanced 9mm cartridges and other military ordnance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSmall CaliberMedium CaliberLarge CaliberApplicationDefenseCivil And CommercialGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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As AI Speeds Up Marketing, Louisville’s RedTag Bets on Strategy

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Independent agency unveils new brand and website, and co-hosts Louisville’s PROOF AI Workshop

LOUISVILLE, Ky., Oct. 17, 2026 /PRNewswire/ — RedTag, an independent Louisville-based marketing agency, this month unveiled new positioning, marking its evolution from a digital performance agency into a strategy-first marketing partner. The move comes as AI makes execution faster than ever, and RedTag is betting that strategy, not speed, is what will set businesses apart. Clients can now choose from outcome-based programs that best fit their marketing needs. 

“Clients don’t come to us needing more tactics. They come to us needing a path,” said Russ Renbarger, founder and CEO of RedTag. “Our new brand says out loud what our work has shown for years: We start with strategy and build everything on that foundation.”

RedTag built its reputation on high-performing paid digital campaigns. Over the years, the agency expanded into strategy, creative, video production and website development, giving clients one partner for the full scope of their marketing. Most recently, a team of automation specialists has integrated AI across the agency to speed up production and analysis, guided by an internal AI policy that keeps people accountable for quality. The time AI saves goes back into strategy: knowing what to say, who to say it to and why.

“Our best client relationships have always been partnerships, where we’re in the room when the big decisions get made,” said Alison Conway, chief client officer at RedTag. “This evolution is about bringing that strategic partnership to every client.”

On Oct. 14, RedTag co-hosted the PROOF AI Workshop with Slingshot, Vsimple and Advanced Business Solutions. The hands-on event gave Louisville business leaders practical experience applying AI to their own work. RedTag led the event’s AI in Marketing and Branding track, with four sessions ranging from AI search optimization to a playbook for adopting AI across an organization.

“AI can produce hundreds of ads in an afternoon, but it can’t tell you which one your brand actually needs and why,” Renbarger said. “The faster the tools get, the more valuable human-led strategy becomes.”

RedTag was named the agency of record for the Commonwealth of Kentucky in 2025. Its client list includes PGA of America, Castle & Key Distillery, Bourbon Barrel Foods, ShopCaterpillar and American Beverage Marketers. Since 2023, RedTag’s work has received two Emmy Awards and more than 35 ADDY and AIGA awards. The agency is a four-time Louisville Business First Fast 50 honoree and was named one of the 2026 Best Places to Work in Kentucky.

To learn more about its outcome-based programs, visit RedTag Programs

About RedTag

RedTag is an independent, strategy-first marketing agency based in Louisville, Kentucky. Established in 2008, the agency starts every engagement by understanding the goal before recommending tactics. With a foundation rooted in discovery, RedTag delivers full-scale marketing campaigns built around each client’s business goals. RedTag serves organizations across hospitality, sports, agriculture, government, retail and consumer packaged goods. Learn more at redtag.agency.

View original content to download multimedia:https://www.prnewswire.com/news-releases/as-ai-speeds-up-marketing-louisvilles-redtag-bets-on-strategy-302911869.html

SOURCE RED TAG LLC

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The National Association of Mortgage Brokers Announces its Launch of MORE, New Mortgage Education and Professional Development Platform

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NAMB MORE brings training, credentials, professional development and daily mortgage market information together in one place

LAS VEGAS, Oct. 17, 2026 /PRNewswire-PRWeb/ — The National Association of Mortgage Brokers (NAMB) the first and only national volunteer-led and membership-driven organization representing the interests of mortgage brokers and home buyers since 1973, today announced the launch of NAMB MORE(Mortgage Originator Resources and Education), a new learning and professional development platform designed to give mortgage professionals the education, resources and information they need to grow throughout their careers.

MORE officially launches today during NAMB National 2026, being held October 16–19 at Caesars Palace in Las Vegas. The platform is designed as a long-term resource for mortgage professionals at every career stage, bringing training, credentials, professional development and timely industry information together in one place.

Mortgage professionals can learn more and access the platform at nambhasmore.org. Access to MORE will be free through NAMB Focus, January 7–9, 2027. Users must have a NAMB member profile to access the learning management system.

“NAMB MORE represents a significant investment in the future of mortgage professionals and the continued advancement of our industry,” said Michael Farrell, President of NAMB. “We wanted to create more than a collection of courses; we wanted to build a resource that professionals can turn to throughout their careers. NAMB MORE delivers valuable education, professional development and practical information members can apply to their businesses daily. ‘NAMB has MORE’ is a mantra the entire organization embraces, reflecting our commitment to providing the industry with innovative tools that support professional growth, strengthen advocacy and help foster our members’ success. “MORE was developed with the mortgage industry in mind, with NAMB and subject-matter experts contributing to the platform’s educational content.”

The platform is designed to support mortgage professionals from their first year in the business through experienced production, management and leadership roles. Educational resources span foundational mortgage knowledge, loan origination, mortgage programs and products, business growth, sales and marketing, borrower experience, professional development and more.

The MORE course library includes content across core categories such as:

Business Strategy & GrowthLoan OriginationMortgage FoundationsMortgage Programs & ProductsProfessional Development & Workplace SkillsSales, Marketing & Borrower ExperienceGeneral

Additional learning resources and credentials are designed to help mortgage professionals continue developing their skills as their careers evolve.

A key component of the new platform is the MORE Daily Dashboard, which serves as the home screen members see when they log into MORE. Rather than requiring members to visit the platform only when completing a course or pursuing a credential, the Daily Dashboard is designed to give mortgage professionals a reason to return every day.

The Daily Dashboard currently features:

Mortgage Rate Alert Widget: Provides information about the factors affecting mortgage rates and refreshes at least hourly.Upcoming Events: Highlights NAMB events and opportunities so members can stay connected to the association and industry.Daily Access to MORE: Provides a central starting point for accessing education, professional development and other resources.

“The Daily Dashboard is an important part of what makes MORE different,” added Farrell. “We want MORE to become part of a mortgage professional’s daily routine. Whether someone is checking the latest rate information, looking for an upcoming NAMB event or continuing their professional education, MORE puts useful resources in one place.”

About NAMB: The National Association of Mortgage Brokers has been the only national volunteer-led and membership-driven organization representing the interests of mortgage professionals and homebuyers since 1973. NAMB provides mortgage professionals with advocacy, education, and rigorous certification programs to recognize members with the highest levels of professional knowledge and education. NAMB’s active lobbying and advocacy efforts focus on national and state issues, protecting the interests of its members and borrowers. As the leading national trade association for the mortgage industry, NAMB is affiliated with state associations throughout the country and represents the interests of more than 546,800 licensed and registered Mortgage Loan Originators and 49,100 licensed Mortgage Broker and Mortgage Lender businesses throughout the U.S. www.namb.org

Media Contact

Joshua Steinfeld, Steinfeld Consulting, 1 339-225-1581, steinfeldconsulting@gmail.com

View original content:https://www.prweb.com/releases/the-national-association-of-mortgage-brokers-announces-its-launch-of-more-new-mortgage-education-and-professional-development-platform-302910967.html

SOURCE The National Association of Mortgage Brokers

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The United States Golf Association Selects Gupta Media as Paid Media Agency of Record

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The appointment comes as the USGA looks to continue to strengthen brand equity and increase awareness and engagement with golfers nationwide

BOSTON, Oct. 17, 2026 /PRNewswire-PRWeb/ — The USGA, the non-profit governing body of golf in the United States, has named Gupta Media its paid media agency of record following a competitive pitch process that began in February. Gupta Media will lead paid media strategy, planning, buying and reporting in support of the USGA’s Championship ticketing and broader commercial initiatives, while helping grow brand equity, awareness and engagement across the organization. Its work will span key USGA priorities, including golf’s official Handicap Index® and GHIN app; the Rules of Golf and the USGA’s governance of the game; Membership; and initiatives that advance golf through sustainability, research and innovation, and greater access and inclusion. The relationship expands beyond media execution to include audience strategy, first-party data integration, measurement and optimization.

“Gupta Media stood out for its ability to connect the dots between data, audience strategy, media and creative to real business outcomes, so we’re incredibly excited for this next chapter.”

The relationship comes at an important moment for the USGA, with the organization focused on continuing to expand its reach and deepening brand affinity across the ever-growing, diverse golf community. Gupta Media will help drive ticket sales for some of the sport’s biggest events, including the 2027 U.S. Open at Pebble Beach Golf Links, the 2027 U.S. Women’s Open at Inverness Club, the 2028 U.S. Open at Winged Foot Golf Club and the 2028 U.S. Women’s Open at Oakmont Country Club. The agency will also support the USGA in creating greater awareness and brand recognition for its corporate Partners through co-branded content and paid media.

Golf has an enormous network of people who love the game, creating a growing opportunity to build a deeper, more direct relationship between golfers and the organization. That challenge is exactly what Gupta Media is built to strategically address — from growing membership and promoting ticket sales for major live events to reaching new audiences and understanding customer lifetime value. By bringing together audience insights, first-party data and media performance, Gupta Media will help the USGA create more relevant, effective marketing that drives measurable business results while strengthening its connection with the next generation of golfers.

“We were looking for an agency that could bring a deep understanding of our audiences, a genuine enthusiasm for our mission and the strategic expertise to work with us through this next phase of golf’s growth,” said Lynn LaRocca, USGA’s Managing Director of Brand & Marketing. “Gupta Media stood out for its ability to connect the dots between data, audience strategy, media and creative to real business outcomes, so we’re incredibly excited for this next chapter.”

“There’s a personal element to this partnership that makes it especially rewarding. My golf journey began 30 years ago when I first visited Pebble Beach as a teenager, long before I could imagine actually playing on the course,” said Gogi Gupta, Founder, Gupta Media. “To now have the opportunity to connect that lifelong passion for the game with the work we’ve spent years building and fine-tuning our agency to do feels like kismet. We’re eager to bring our proficiency to an organization that plays a leading role in the great game.”

The relationship brings together Gupta Media’s deep experience in sports marketing with its data-driven approach to audience strategy, media and creative. The agency has developed a specialized set of tools and processes to address data and analytics challenges of sports and live events, including TallyTickets.com, its proprietary ticketing analytics platform that helps teams understand sales trends, forecast demand and make more informed marketing and media decisions. Gupta Media’s experience spans sports, entertainment, premium events, and pop culture, giving the agency a comprehensive understanding of the audience models and fan behaviors that shape the industry.

About the USGA:

The USGA is a mission-based golf organization whose purpose is to unify the golf community through handicapping and grassroots programs; to showcase the game’s best talent through the U.S. Open, U.S. Women’s Open, and 13 other national championships and our museum; to provide unbiased global governance with The R&A through the playing, equipment and Amateur Status rules; and to advance issues important to golf’s future, with a focus on driving sustainability.

About Gupta Media:

Gupta Media, a certified Minority Business Enterprise, is a strategic consultancy at the intersection of creative strategy, digital media, advanced analytics, and performance marketing. We drive growth for professional sports franchises, global tech leaders, DTC brands, major music labels, and other high-profile organizations by building intelligent media plans, best-in-class reporting tools, and custom enterprise technology. Founded 25 years ago by Cornell grad Gogi Gupta, the agency is known for developing new methods of maximizing advertising efficiency in a digital-first world. Harvard Business School’s case study on Gupta Media was taught to all incoming students for three years and is still taught around the globe.

Media Contact

Carly Carioli, Gupta Media, 1 617-682-3733, ccarioli@guptamedia.com, guptamedia.com

View original content:https://www.prweb.com/releases/the-united-states-golf-association-selects-gupta-media-as-paid-media-agency-of-record-302911621.html

SOURCE Gupta Media

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