South Korea Ammunition Market Size, Share, and COVID-19 Impact Analysis, By Small Ammunition Product (Rimfire and Centerfire), By End-use (Civil & Commercial and Defense), and South Korea Ammunition Market Industry Trend, Forecasts to 2035

South Korea Ammunition Market Insights Forecasts to 2035

• The South Korea Ammunition Market Size Was Estimated at USD 563.87 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 3.77% from 2025 to 2035
• The South Korea Ammunition Market Size is Expected to Reach USD 847.6 Million by 2035

According to a research report published by Spherical Insights & Consulting, The South Korea Ammunition Market Size is anticipated to reach USD 847.6 Million by 2035, growing at a CAGR of 3.77% from 2025 to 2035. The South Korea ammunition market is driven by rising defense modernization, military spending, and geopolitical tensions, with growing demand for advanced small-caliber and medium-caliber ammunition for national security.  

Market Overview

The ammunition market involves the production, distribution, and sale of cartridges, bullets, and shells used in firearms for defense, law enforcement, civilian, and commercial applications. It supports national security, hunting, sport shooting, and personal protection. The safety, tactical readiness, and recreational use. The increasing defense budgets, growing interest in shooting sports, and advancements in lightweight, precision ammunition. Governments, including South Korea’s, promote local manufacturing, R&D in defense technology, and export-friendly policies to strengthen domestic capabilities. Initiatives such as public shooting programs, modernization of military equipment, and controlled civilian firearm ownership further fuel growth. These efforts help enhance national security, support the defense sector, and stimulate innovation within the ammunition industry.

Report Coverage

This research report categorizes the market for South Korea ammunition market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea ammunition market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea ammunition market.

Driving Factors

The rising defense spending, increasing geopolitical tensions, and modernization of military forces. Growing demand for personal safety and the popularity of shooting sports have also boosted civilian firearm and ammunition use. Technological advancements in smart and lightweight ammunition further enhance market appeal. Additionally, the expansion of law enforcement agencies and training programs contributes to consistent demand.

Restraining Factors

Complex licensing, stringent export controls, and evolving firearm laws significantly slow market entry, elevate compliance costs, and limit civilian access. Fluctuating costs of metals and propellants like brass and gunpowder ingredients affect manufacturing margins and product pricing.Growing pressure to eliminate lead-based ammunition and adopt eco-friendly alternatives increases R&D and production costs.

Market Segmentation

The South Korea ammunition market share is classified into small ammunition product and end-use.

• The rimfire segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea ammunition market is segmented by small ammunition product into rimfire and centerfire. Among these, the rimfire segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Its affordability, low recoil, and suitability for training, hunting, and sport shooting. Rimfire ammunition is widely used in civilian applications, particularly for recreational shooting and small game hunting, driving consistent demand. Its simple design and cost-effective manufacturing also contribute to its popularity.

• The civil & commercial segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea ammunition market is segmented by end use into civil & commercial and defense. Among these, the civil & commercial segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period. Increasing firearm ownership for personal protection and the growth of private shooting ranges have driven demand for small-caliber ammunition. Additionally, government regulations supporting legal firearm use for civilian purposes have contributed to market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea ammunition market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Poongsan Corporation
• Hanwha Aerospace / Hanwha Munitions
• LIG Nex1 Co., Ltd
• SNT Dynamics
• SNT Motiv
• Samyang Comtech
• Hyundai Rotem
• Samsung Techwin
• Koryo Metal (under Poongsan umbrella)
• C-RICH Co., Ltd.
• Raidops
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea ammunition market based on the below-mentioned segments:

South Korea Ammunition Market, By Small Ammunition Product

• Rimfire
• Centerfire

South Korea Ammunition Market, By End-use

• Civil & Commercial
• Defense