Market Size of Artillery Ammunition Industry
| Study Period | 2024 - 2029 |
| Market Size (2024) | USD 1.75 Billion |
| Market Size (2029) | USD 2.21 Billion |
| CAGR (2024 - 2029) | 4.82 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Artillery Ammunition Market Analysis
The Artillery Ammunition Market size is estimated at USD 1.75 billion in 2024, and is expected to reach USD 2.21 billion by 2029, growing at a CAGR of 4.82% during the forecast period (2024-2029).
- The artillery ammunition market witnessed precedented challenges due to the COVID-19 pandemic. The reduced amount of labor force during the pandemic meant that there was a decline in the production of artillery ammunition for the military. Although the manufacturing of artillery ammunition for military applications was of prime importance, disruptions in the supply chain owing to strict lockdown measures led to a setback in terms of manufacturing artillery ammunition.
- On the other hand, the market showed a strong recovery post covid due to the increasing defense expenditure by various countries as well as the increasing demand for artillery ammunition by various defense personnel worldwide.
- The increase in the military spending of various countries is supporting the various military initiatives to update military weapons and ammunition, which is expected to generate demand for artillery ammunition. The development of new and advanced artillery ammunition by the ammunition manufacturing companies with extended range, increased lethality, and integrated sensors to increase accuracy is anticipated to attract the armies of various countries for their future procurement, thereby leading the market to witness significant growth during the forecast period.
Artillery Ammunition Industry Segmentation
Artillery ammunition refers to the type of ammunition that is designed to be fired from artillery canons which have an effect over long distances. There are many different types of artillery ammunition, but these ammunition are usually high-explosive and designed to shatter into fragments on impact to maximize damage. Common types of artillery ammunition include high explosives, smoke, illumination, and practice rounds. Some artillery rounds are designed as cluster munitions.
The artillery ammunition market is segmented based on caliber and geography. By caliber, the market is segmented into below 120mm and 120mm and above. The report also covers the market sizes and forecasts for the artillery ammunition market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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| Below 120 mm | |
| 120 mm & Above |
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Artillery Ammunition Market Size Summary
The artillery ammunition market is poised for growth, driven by increased defense spending and the demand for advanced military capabilities. The market experienced disruptions during the COVID-19 pandemic due to supply chain challenges and reduced workforce availability, but has since rebounded as countries ramp up military expenditures to modernize their defense systems. This resurgence is fueled by the development of new artillery ammunition with enhanced range, lethality, and accuracy, attracting global defense forces to upgrade their arsenals. The market is characterized by significant investments in research and development by key players, aiming to produce cutting-edge ammunition systems that meet the evolving needs of military operations.
The market's growth is particularly notable in the Asia-Pacific region, where rising border conflicts and increased defense budgets are driving demand for advanced artillery solutions. Countries in this region are actively procuring and developing new-generation artillery systems to bolster their defense capabilities. The 120 mm and above segment is expected to witness substantial growth, supported by ongoing advancements and strategic partnerships among major market players. The semi-consolidated nature of the market, with prominent companies like General Dynamics Corporation, Rheinmetall AG, and BAE Systems plc, underscores the competitive landscape where innovation and technological integration are key to capturing market share. As these companies continue to focus on developing sophisticated artillery ammunition systems, the market is set to experience significant expansion in the coming years.
Artillery Ammunition Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Caliber
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2.1.1 Below 120 mm
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2.1.2 120 mm & Above
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 France
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2.2.2.3 Germany
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2.2.2.4 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.4.1 Brazil
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2.2.4.2 Mexico
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2.2.4.3 Rest of Latin America
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2.2.5 Middle East and Africa
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2.2.5.1 United Arab Emirates
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2.2.5.2 Saudi Arabia
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2.2.5.3 South Africa
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2.2.5.4 Israel
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2.2.5.5 Rest of Middle East and Africa
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Artillery Ammunition Market Size FAQs
How big is the Artillery Ammunition Market?
The Artillery Ammunition Market size is expected to reach USD 1.75 billion in 2024 and grow at a CAGR of 4.82% to reach USD 2.21 billion by 2029.
What is the current Artillery Ammunition Market size?
In 2024, the Artillery Ammunition Market size is expected to reach USD 1.75 billion.
