This ammo shortage is primarily due to global manufacturing and supply disruption from Covid, and we cannot expect it to normalize until Covid has been successfully subdued.
Once Vista completes onboarding it's new ownership of Remington ammo production, however, that should help the supply chain significantly.
"Historically, imported amounts of lower-priced ammunition have taken up the slack in unmet demand in the U.S. ammunition industry during cyclical periods of rising consumer demand," said Rommel Dionisio, gun industry analyst for Aegis Capital. "However, potential shipment delays resulting from recent COVID-19 related shutdowns around the world may be delaying the delivery of such imported ammunition into the U.S. at the current time."
The top U.S. ammo manufacturers are Vista Outdoor, which recently acquired Remington's bullet business, and Olin Corp. OLN +2.9%, which owns the Winchester bullet brand. The top foreign suppliers of ammo to the U.S. are from Canada with 20.2% of market share, followed by Europe (particularly Germany and the United Kingdom) with 13.5%, and then Israel with 12.1%, according to Rogers.
The disruption is causing inventories to run dry in America. Retailers told this reporter that ammunition is selling out everywhere, especially for commonly used caliber like 9 mm and .38, prompting some shops to ration one box per purchase.
American consumers and retailers are learning that they can no longer rely on importers. So why don't American ammo factories just ramp up production?
Dionisio said the large U.S. ammunition manufacturers, including Vista Outdoor, Olin and Remington, have been hesitant to expand production capacity during cyclical upturns in demand, for fear of being unable to use it when demand tapers off.
"It is not as simple as adding a few extra shifts of labor," said Dionisio, who described expansion as "capital intensive, requiring significant outlays on machinery and facility expansion" with a lengthy buildup of 12 to 18 months.
Vista Outdoor, the top U.S. manufacturer of ammunition with 30% of market share, recently took a large stake in ammo production that could have significant implications on the industry going forward. Vista paid $81.4 million for Remington's ammo brand after the venerable gun company filed for Chapter 11 bankruptcy protection for the second time in two years.
"We are rapidly onboarding Remington Ammunition capacity, while also continuing operations at our existing domestic facilities, so that we can continue to support the strong consumer demand in the marketplace," said Fred Ferguson, Vice President for Public Affairs for Vista Outdoor.
Dionisio described Vista's decision to boost its ammo production capacity through the Remington acquisition as "certainly timely," considering the nationwide bullet shortage.
...Ben
The prices/supply will react to the consumer market pressure. Manufacturers don't set prices based on politics; that pressure comes from the buyers. Unfortunate that the, should I be nice and say the "overreactors", will drive the market supply and demand.
I don't need a brain aneurysm. 
Ive got a cross bow that's it.
