Large Caliber Ammunition Sales

Large Caliber Ammunition Sales Market Outlook

The global large caliber ammunition market is projected to reach USD 14.5 billion by 2033, growing at a CAGR of 6.8% from 2025 to 2033. This growth is largely driven by increasing defense budgets across various nations, particularly in emerging economies that are enhancing their military capabilities. Additionally, a rise in geopolitical tensions and the need for advanced military equipment has spurred demand for large caliber ammunition among armed forces worldwide. The ongoing modernization of military arsenals, coupled with technological advancements in ammunition production, further contributes to the market's growth. Furthermore, the expansion of military and law enforcement agencies, along with the diversification of applications in civilian contexts, is expected to create lucrative opportunities for market players in the coming years.

Growth Factor of the Market

The large caliber ammunition market is significantly fueled by the escalating defense expenditures by various countries, necessitated by the rising security concerns and complex global threats. The modern warfare landscape has shifted towards high-precision, long-range engagements, driving the demand for more advanced and lethal ammunition types. Additionally, technological innovations in ammunition design and manufacturing are enhancing performance and reliability, further propelling market growth. The increasing emphasis on military training and readiness programs among armed forces worldwide has also led to an uptick in ammunition purchases. Moreover, the expansion of private security firms and their demand for quality ammunition for training and operational purposes has provided a new revenue stream for manufacturers and distributors alike.

Key Highlights of the Market

• The market is expected to witness a CAGR of 6.8% from 2025 to 2033.
• Artillery shells account for the largest market share within the product type segment.
• Military applications dominate the overall market, driven by government contracts and defense spending.
• North America is the leading region in terms of market share, largely due to the presence of major defense contractors.
• Steel remains the predominant material type used in ammunition manufacturing.

By Product Type

Artillery Shells:

Artillery shells represent a significant segment within the large caliber ammunition market, utilized primarily by military forces for long-range bombardment capabilities. These shells are designed to be fired from artillery guns or howitzers and are available in various calibers, enabling them to deliver explosive payloads over considerable distances. The demand for artillery shells is bolstered by ongoing military conflicts and the necessity for ground forces to possess robust indirect fire capabilities. With advancements in precision-guided munitions, modern artillery shells have become more lethal and effective, attracting attention from defense organizations seeking to modernize their arsenals. Furthermore, increased military exercises and training operations contribute to the sustained demand for these crucial components of artillery systems.

Tank Rounds:

Tank rounds serve as a critical element of armored warfare and are specifically designed for use in main battle tanks. The market for tank rounds continues to grow as nations seek to enhance their armored capabilities in response to evolving threats on the battlefield. These rounds come in various types, including armor-piercing and high-explosive variants, enabling tanks to engage a diverse range of targets, from enemy vehicles to fortified positions. The ongoing development of new tank models and upgrades to existing tanks necessitate corresponding advancements in ammunition technology. Additionally, increased military spending by defense-oriented nations is likely to drive demand for tank rounds, emphasizing the importance of this segment within the large caliber ammunition market.

Large Caliber Bullets:

Large caliber bullets, primarily used in heavy machine guns and sniper rifles, have a significant presence in the large caliber ammunition market. These bullets are essential for infantry units and special forces, providing them with the firepower needed to neutralize specific threats with precision. The demand for large caliber bullets is supported by ongoing military operations and counter-terrorism efforts, as they offer enhanced stopping power and lethality. Manufacturers are focused on developing bullets with improved ballistics and terminal performance, catering to the needs of modern combat scenarios. As military forces continue to invest in advanced weapon systems, the segment for large caliber bullets is anticipated to witness notable growth in the coming years.

Mortar Rounds:

Mortar rounds are critical components of indirect fire support systems, offering flexibility and effectiveness on the battlefield. Used extensively by military forces for close support and saturation fire, mortar rounds are designed to be launched from mortar tubes at various angles. The market for mortar rounds is driven by their versatility in range and payload options, enabling them to engage a wide array of targets. The continued emphasis on joint operations and interoperability among military forces has led to an increased focus on mortar capabilities, further enhancing the demand for this type of ammunition. Additionally, advancements in mortar technologies, such as precision-guided munitions, are likely to drive innovation and growth within this segment.

Grenades:

Grenades are compact, explosive devices used primarily by infantry forces for close combat situations. The large caliber ammunition market also encompasses grenade types that deliver significant firepower in a small package, making them an essential component of military operations. The demand for grenades is influenced by their effectiveness in urban warfare and counterinsurgency operations, where engaging multiple targets swiftly is crucial. Innovations in grenade design, such as increased safety features and effectiveness against armored adversaries, have attracted attention from armed forces seeking to modernize their equipment. As military engagements continue to evolve, the importance of grenades as a tactical asset is expected to drive market growth in this segment.

By Application

Military:

The military applications segment dominates the large caliber ammunition market, accounting for the majority of its revenue. Armed forces worldwide rely on large caliber ammunition for various purposes, including training, combat operations, and defense exercises. Military procurement budgets have been increasing, enabling defense organizations to invest in advanced ammunition types that enhance their operational capabilities. The ongoing geopolitical tensions and conflicts have further compelled nations to fortify their military readiness, leading to an uptick in large caliber ammunition acquisitions. Additionally, joint military exercises involving multiple nations create opportunities for ammunition manufacturers to meet the collective needs of allied forces, ensuring interoperability and effectiveness in shared operations.

Law Enforcement:

Law enforcement applications are becoming an increasingly significant segment of the large caliber ammunition market as police and security agencies seek enhanced capabilities for various operational scenarios. In urban environments, law enforcement agencies employ large caliber ammunition for situations requiring additional firepower, such as counter-terrorism operations and active shooter incidents. The ongoing rise in violent crime rates and civil unrest has heightened the need for law enforcement agencies to be equipped with effective and reliable ammunition. As a result, manufacturers are focusing on developing large caliber ammunition that provides both accuracy and precision, ensuring that law enforcement personnel can respond effectively and safely to high-stakes situations.

Civilian:

The civilian application segment of the large caliber ammunition market is growing steadily, driven by recreational shooting, hunting, and sport shooting enthusiasts. As an increasing number of individuals engage in firearm-related activities, there is a growing demand for quality ammunition that meets safety and performance standards. Additionally, the legal landscape surrounding firearms ownership is evolving, with many regions easing restrictions on firearm purchases, thus expanding the market for civilian ammunition. Manufacturers are responding to this demand by producing large caliber ammunition that caters to the specific preferences of civilian users, focusing on reliability, performance, and safety. Moreover, the rise of shooting sports and competitions, coupled with increased interest in hunting, is expected to propel growth in this segment.

By Distribution Channel

Online Stores:

Online stores have emerged as a significant distribution channel for large caliber ammunition, revealing a shift in consumer behavior towards digital purchasing. With the proliferation of e-commerce platforms, customers can access a wide variety of ammunition products from the comfort of their homes, enhancing convenience and selection. This channel allows buyers to compare prices, read reviews, and find specialized ammunition types that may not be available in physical stores. Additionally, the growth of online retailers has introduced competitive pricing, benefiting consumers and leading to increased sales volumes. As regulations surrounding online ammunition sales evolve, this distribution channel is poised for continued growth, appealing to both military and civilian customers.

Military/Government Contracts:

Military and government contracts are integral to the distribution of large caliber ammunition, representing a stable and lucrative market segment. National defense ministries and military branches often engage in long-term procurement agreements with manufacturers to secure a consistent supply of ammunition for training and operational needs. These contracts are characterized by their substantial value and are typically awarded through competitive bidding processes, ensuring that governments receive high-quality products at competitive prices. The reliance on government contracts for large caliber ammunition ensures a level of predictability in sales for manufacturers, making this distribution channel an essential component of the overall market landscape.

Retail Stores:

Retail stores remain a vital distribution channel for large caliber ammunition, providing consumers with direct access to a range of products. Sporting goods stores, specialized firearms retailers, and military surplus shops cater to both recreational shooters and law enforcement agencies, offering various ammunition types. These retail establishments are often preferred by customers who seek immediate availability and the ability to inspect products before purchase. The knowledgeable staff in these stores can provide valuable insights and recommendations, enhancing the shopping experience for customers. With the growing interest in shooting sports and hunting, retail stores play a crucial role in educating consumers and promoting the safe use of large caliber ammunition.

Others:

Other distribution channels for large caliber ammunition include wholesalers, military auctions, and government surplus sales. These channels play a pivotal role in facilitating access to ammunition for niche markets and specialized users. Wholesalers often supply ammunition to smaller retailers, ensuring a steady flow of products throughout the supply chain. Military auctions and surplus sales provide opportunities for civilians to purchase previously used ammunition, often at reduced prices, appealing to budget-conscious consumers. Additionally, these alternative distribution channels cater to specific segments, including collectors and enthusiasts seeking unique or rare ammunition types. The diversity of distribution channels ensures that large caliber ammunition reaches a wide array of customers, enhancing overall market accessibility.

By Material Type

Steel:

Steel is a widely used material in the production of large caliber ammunition, prized for its durability and strength. Steel casings are often employed in various ammunition types due to their ability to withstand the high pressures generated during firing. Additionally, steel offers cost advantages over other materials, making it an attractive option for manufacturers looking to balance performance and pricing. The demand for steel-based ammunition is driven by military organizations seeking reliable and robust solutions for their operational needs. With ongoing advancements in manufacturing practices, steel ammunition is continually evolving to meet the rigorous standards required for modern military engagements, contributing to its popularity in the large caliber ammunition market.

Brass:

Brass, a traditional material used for manufacturing large caliber ammunition, is recognized for its excellent corrosion resistance and durability. Brass casings are commonly used in high-performance ammunition types, providing consistent ballistic performance and reliability. The market for brass ammunition is supported by its extensive use in military applications, where quality and performance are paramount. Additionally, brass is favored among civilian shooters for its reloading capabilities, allowing users to recycle spent casings for future use. As demand for high-quality ammunition continues to grow, the brass segment is expected to maintain its prominence in the large caliber ammunition market.

Copper:

Copper is increasingly utilized in the production of projectiles for large caliber ammunition, particularly in the development of environmentally friendly alternatives to traditional lead-based projectiles. As regulations regarding lead exposure become more stringent, manufacturers are exploring copper as a viable substitute that offers comparable ballistic performance without the associated health risks. Copper projectiles are recognized for their effective terminal performance and are especially popular among hunting enthusiasts seeking non-toxic options. The shift towards environmentally friendly materials is likely to drive growth in the copper segment, as consumers and regulatory bodies alike favor sustainable practices within the ammunition industry.

Lead:

Lead has historically been the predominant material used in large caliber ammunition, particularly for bullets. However, growing concerns regarding lead contamination and health risks are prompting a gradual shift toward alternative materials. Despite this trend, lead ammunition remains popular due to its affordability and proven effectiveness in various applications. Many manufacturers continue to produce lead-based ammunition, especially for civilian shooters and hunters. The segment is expected to evolve as manufacturers adapt to changing regulations while still catering to consumer preferences for traditional lead ammunition. As the market progresses, the balance between lead and alternative materials will shape future trends in large caliber ammunition production.

Aluminum:

Aluminum is a less conventional material used in the production of large caliber ammunition, primarily due to its lightweight properties and resistance to corrosion. While not as commonly employed as steel or brass, aluminum casings can offer advantages in specific applications, particularly in reducing the overall weight of ammunition for transport and handling. The use of aluminum is gaining traction, especially among certain military and law enforcement agencies looking to enhance mobility without compromising performance. As manufacturers continue to explore innovative materials, aluminum's niche presence in the large caliber ammunition market is expected to expand, catering to specific operational needs.

By Region

The regional analysis of the large caliber ammunition market reveals distinct trends and growth patterns across various geographical areas. North America holds the largest market share, driven primarily by robust defense spending in the United States and Canada. The U.S. Department of Defense allocates significant budgets towards procuring advanced ammunition for military operations, contributing to the region's dominance. The North American market is expected to continue growing at a CAGR of 7.2% during the forecast period, bolstered by government contracts and increased military readiness in response to evolving security threats. Furthermore, the presence of established manufacturers in the region enhances the competitive landscape and supports market growth.

Europe is another key market for large caliber ammunition, where countries like the United Kingdom, France, and Germany are actively modernizing their military capabilities. The European market is projected to grow at a CAGR of 5.5% during the forecast period, driven by rising defense budgets and the need to address regional security challenges. The ongoing geopolitical tensions in Eastern Europe have prompted nations to invest in advanced ammunition solutions, further enhancing demand. Additionally, the presence of prominent ammunition manufacturers in the region supports supply chain development and product innovation, ensuring that European armed forces are equipped with state-of-the-art ammunition for various applications. The Asia Pacific region is also witnessing growing interest in large caliber ammunition, particularly due to the increasing military expenditure in countries like India and China, signaling a dynamic market landscape.

Opportunities

The large caliber ammunition market presents significant opportunities driven by advancements in technology and increased defense spending from various nations. As military forces around the world modernize their arsenals, the demand for high-performance ammunition is on the rise. This trend opens avenues for manufacturers to invest in research and development, focusing on innovative ammunition solutions that enhance lethality and accuracy. Implementing smart technologies, such as electronic fuzes and guidance systems, could elevate the performance of large caliber ammunition, allowing for more efficient and precise engagements. Furthermore, collaborations between defense contractors and technology companies could lead to breakthrough innovations, ultimately benefiting the end-users in terms of operational effectiveness.

Moreover, expanding global security concerns and the rise in asymmetric warfare tactics necessitate a reevaluation of ammunition strategies among military forces. This shift offers manufacturers the chance to develop specialized ammunition tailored to specific operational needs, such as urban warfare and counterinsurgency operations. The increasing interest in environmentally friendly ammunition alternatives, driven by regulatory pressures and consumer demand, also presents opportunities for growth. By focusing on sustainable materials and production processes, companies can position themselves as leaders in this evolving market, catering to health-conscious consumers and environmentally aware military organizations alike. Overall, these trends indicate a favorable landscape for growth within the large caliber ammunition market.

Threats

Despite the promising growth potential within the large caliber ammunition market, several threats could hinder its progress. One of the primary challenges is the increasing regulatory scrutiny surrounding ammunition manufacturing and sales, particularly concerning environmental regulations related to lead and other hazardous materials. Governments and international organizations are imposing stricter regulations, which could impact production costs and limit the availability of certain ammunition types. Additionally, the emergence of alternative materials and technologies may disrupt traditional manufacturing practices, forcing established companies to adapt quickly or risk losing market share. The ongoing geopolitical tensions and conflicts may also lead to market volatility, affecting procurement and supply chain stability.

Furthermore, the large caliber ammunition market is susceptible to economic fluctuations that can influence defense budgets and spending priorities. Economic downturns may result in reduced military expenditures, impacting demand for large caliber ammunition. Additionally, the growing trend of disarmament and arms control initiatives in some regions could lead to decreased stockpiling or even reduction of ammunition inventories, further complicating market dynamics. The threat of illicit trade and smuggling of ammunition poses a significant challenge for law enforcement and regulatory bodies, undermining legitimate markets and creating safety concerns. These threats necessitate a proactive approach from industry stakeholders to navigate the complexities of the market landscape effectively.

Competitor Outlook

• General Dynamics Ordnance and Tactical Systems
• Bae Systems
• Northrop Grumman Corporation
• Lockheed Martin Corporation
• BAE Systems Bofors
• Rheinmetall AG
• Olin Corporation (Winchester Ammunition)
• FN Herstal
• Nammo AS
• Thales Group
• Ammo, Inc.
• Leonardo S.p.A.
• Barrett Firearms Manufacturing
• Dayton Gun Company
• IMI Systems

The competitive landscape of the large caliber ammunition market is characterized by the presence of several established and emerging companies vying for market share. Major defense contractors dominate the market, leveraging their extensive experience and technological expertise to develop advanced ammunition solutions. These companies often engage in long-term contracts with government entities, thereby ensuring a stable revenue stream. Additionally, ongoing innovations in ammunition design and manufacturing processes provide opportunities for differentiation among competitors, enabling them to cater to specific customer needs more effectively. The increasing focus on research and development is driving a wave of technological advancements, leading to the introduction of smart munitions and environmentally friendly alternatives.

Among the key players in the market, General Dynamics Ordnance and Tactical Systems stands out for its comprehensive range of large caliber ammunition products designed for military applications. The company is recognized for its commitment to quality and performance, supplying ammunition to various armed forces worldwide. Bae Systems, another prominent player, offers a diverse portfolio of ammunition solutions, including artillery shells and tank rounds, while also emphasizing sustainability through the development of lead-free options. Furthermore, Northrop Grumman Corporation is actively involved in enhancing ammunition precision through advanced guidance systems, demonstrating a commitment to innovation and military effectiveness.

Olin Corporation (Winchester Ammunition) is a key player in the civilian segment, providing high-quality large caliber ammunition for recreational shooting and hunting. The company emphasizes reliability and performance, ensuring that its products meet the needs of diverse consumer segments. FN Herstal is well-known for its focus on developing advanced small arms and ammunition, catering to military and law enforcement agencies with innovative solutions. As market dynamics evolve, these major companies are positioning themselves for continued growth and success, adopting strategies that balance technological advancement with customer demands, while ensuring compliance with regulatory requirements.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Nammo AS
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Ammo, Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 FN Herstal
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Bae Systems
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 IMI Systems
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Thales Group
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Rheinmetall AG
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Leonardo S.p.A.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 BAE Systems Bofors
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Dayton Gun Company
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Lockheed Martin Corporation
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Northrop Grumman Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Barrett Firearms Manufacturing
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Olin Corporation (Winchester Ammunition)
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 General Dynamics Ordnance and Tactical Systems
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Large Caliber Ammunition Sales Market, By Application
    • 6.1.1 Military
    • 6.1.2 Law Enforcement
    • 6.1.3 Civilian
  • 6.2 Large Caliber Ammunition Sales Market, By Product Type
    • 6.2.1 Artillery Shells
    • 6.2.2 Tank Rounds
    • 6.2.3 Large Caliber Bullets
    • 6.2.4 Mortar Rounds
    • 6.2.5 Grenades
  • 6.3 Large Caliber Ammunition Sales Market, By Material Type
    • 6.3.1 Steel
    • 6.3.2 Brass
    • 6.3.3 Copper
    • 6.3.4 Lead
    • 6.3.5 Aluminum
  • 6.4 Large Caliber Ammunition Sales Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Military/Government Contracts
    • 6.4.3 Retail Stores
    • 6.4.4 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Large Caliber Ammunition Sales Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Large Caliber Ammunition Sales market is categorized based on

By Product Type

• Artillery Shells
• Tank Rounds
• Large Caliber Bullets
• Mortar Rounds
• Grenades

By Application

• Military
• Law Enforcement
• Civilian

By Distribution Channel

• Online Stores
• Military/Government Contracts
• Retail Stores
• Others

By Material Type

• Steel
• Brass
• Copper
• Lead
• Aluminum

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• General Dynamics Ordnance and Tactical Systems
• Bae Systems
• Northrop Grumman Corporation
• Lockheed Martin Corporation
• BAE Systems Bofors
• Rheinmetall AG
• Olin Corporation (Winchester Ammunition)
• FN Herstal
• Nammo AS
• Thales Group
• Ammo, Inc.
• Leonardo S.p.A.
• Barrett Firearms Manufacturing
• Dayton Gun Company
• IMI Systems