The European sold production of weapons and ammunitions saw varied trends from 2014 to 2024. Following a decline from 2014 to 2015 by 23.05%, the value fluctuated until 2018 with minimal growth. A notable recovery began in 2020, with a significant year-on-year growth of 55.9%, continuing with a 45.26% increase in 2021. By 2023, the value stood at 8.344 million items, marking a 23.07% rise year-on-year.
From 2020 to 2023, the Compound Annual Growth Rate (CAGR) was 27.97%, indicating a robust recovery and growth trend. The forecasts suggest continued growth with an expected CAGR of 10% from 2024 to 2028, resulting in a projected 61.07% increase by 2028.
Future trends to watch include the impact of geopolitical dynamics on production volumes, technological advancements in weapons and ammunitions, and policy changes within the European defense sector. These factors could significantly influence the growth and stability of the market in the coming years.
