Im not sure this is accurate...
Granted it might take a while.. but.. Im already seeing some (limited) ammo return to the shelves..
I hear what you are saying. But I'm inclined to believe the guys at Hornady and Winchester. The first sentence says "On certain products, we are certainly seeing backlogs that stretch out two years and beyond." So not "all" products are backlogged that far out.
I know they are "talking their book" and I've also seen some limited ammo available here and there. All 9mm and 5.56/223 as you mention. Which makes sense - the ammo manufacturers will produce the highest volume stuff first I'd imagine, which clearly is 9mm and 5.56. But how long do you think it will be before they fulfill orders of 243 or 30-30 as an example?
The price increases aren't surprising - the manufacturers' marginal capacity is using overtime labor and raw materials prices also are up. So even assuming they aren't using current demand to juice margins, you'd expect price increases. And I'm sure there's a little margin padding going on. I'm sympathetic.
Apparently primers are an even bigger issue - according to an interview I saw recently with a Federal/Speer exec he said that primer production historically outpaced loaded ammo, so they sold the excess supply to reloaders. Now, they can't meet demand for loaded ammo so it follows that they'll eat up most/all of that addition primer capacity for the foreseeable future.
I wonder about the future for the 9 million new gun owners as
@Randy F mentions. I've introduced a number of folks to firearms in the last 12 months. All for personal defense purposes. Several have applied for and received CCPs. I think they are in it for the long haul. I don't think they'll shoot up much ammo every year, but it won't be zero. If every new gun owner shoots a 20 round box of ammo a year and replaces it, that's 180 million rounds of additional demand. Plus all the additional demand from those of us who aren't new to shooting. There were about 72 million gun owners in the US prior to the latest surge according to a study I read. If we all buy an extra 20 rounds a year, that's 1.44 *billion* rounds of additional demand. A quick google search of annual ammunition production in the US is 9 billion rounds, but only 4 billion rounds of centerfire ammo - inc pistol, rifle, and shotgun. So (ignoring the rimfire for a minute) if everyone decides to purchase just one additional box of 20 centerfire cartridges that's 1.62 billion rounds of additional demand, or an increase of about 41%. In one year. That's without any hording.
It seems perfectly reasonable that it would take a couple years to work through that additional demand to me, but YMMV.