Market Size of Asia-Pacific Medium And Large Caliber Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 461.84 Million |
| Market Size (2029) | USD 539.84 Million |
| CAGR (2024 - 2029) | 3.17 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Medium And Large Caliber Ammunition Market Analysis
The Asia-Pacific Medium And Large Caliber Ammunition Market size is estimated at USD 461.84 million in 2024, and is expected to reach USD 539.84 million by 2029, growing at a CAGR of 3.17% during the forecast period (2024-2029).
The increasing geopolitical conflicts and border tensions of neighboring countries in the region are fueling the rise in military expenditures of various countries. This increase in military spending is propelling investments into the procurement of new land, air, and sea platforms, which in turn is generating demand for medium- and large-caliber ammunition markets.
The medium and large caliber ammunition market is expected to grow primarily due to the armed forces' procurement and upgrade activities to counter emerging threats. Several contracts for naval vessels, military aircraft, helicopters, infantry fighting vehicles (IFVs), and armored personnel carriers (APCs) mounted with medium caliber turret guns are currently underway, and many new contracts are anticipated to be dispersed during the forecast period, creating a parallel demand for medium caliber ammunition.
High procurement costs and issues like arms trafficking might hinder the market potential. The cost of new technologies, especially new concepts, is expected to be high and economically infeasible unless the mass adoption of such technologies occurs.
Programmable ammunition and loitering munitions are some of the emerging technologies with the potential to change the market dynamics radically in the future.
Asia-Pacific Medium And Large Caliber Ammunition Industry Segmentation
Medium-caliber ammunition includes 40mm, 30mm, 25mm, and 20mm high-explosive (HE), armor-piercing (AP), anti-personnel, and training cartridges that can defeat light armor, material, and personnel targets. On the other hand, ammunition with a caliber greater than 40mm, including mortar and artillery ammunition, is included under large-caliber ammunition.
The market is segmented by caliber type and geography. By caliber type, it is divided into medium caliber and large caliber. The report also offers market size and forecasts for four countries across the region. For each segment, the market size and forecasts have been based on value (USD).
| Caliber Type | |
| Medium Caliber | |
| Large Caliber |
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Asia-Pacific Medium And Large Caliber Ammunition Market Size Summary
The Asia-Pacific medium and large caliber ammunition market is poised for growth, driven by increasing military expenditures due to geopolitical conflicts and border tensions in the region. This surge in spending is prompting investments in new military platforms across land, air, and sea, thereby boosting demand for medium and large caliber ammunition. The market is expected to expand as armed forces engage in procurement and upgrade activities to address emerging threats. Despite challenges such as high procurement costs and potential issues like arms trafficking, the market is set to benefit from advancements in technologies like programmable ammunition and loitering munitions. The large caliber segment is anticipated to grow, supported by the procurement of howitzers and artillery, with countries collaborating with major ammunition manufacturers to enhance their indigenous defense capabilities.
China's dominance in the market is expected to continue, fueled by its substantial military spending and investments in advanced armaments. The country's military modernization plans and strategic expansions have led to increased tensions in the region, further driving the demand for ammunition. The market is highly fragmented, with numerous regional players and international companies forming partnerships and expanding their presence. Local players have gained expertise in technology and product design, offering competitive quality at lower prices, which intensifies market competition. Recent developments, such as significant investments in munitions manufacturing facilities and contracts for critical artillery components, underscore the market's growth potential during the forecast period.
Asia-Pacific Medium And Large Caliber 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 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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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 Type
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2.1.1 Medium Caliber
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2.1.2 Large Caliber
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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Asia-Pacific Medium And Large Caliber Ammunition Market Size FAQs
How big is the Asia-Pacific Medium And Large Caliber Ammunition Market?
The Asia-Pacific Medium And Large Caliber Ammunition Market size is expected to reach USD 461.84 million in 2024 and grow at a CAGR of 3.17% to reach USD 539.84 million by 2029.
What is the current Asia-Pacific Medium And Large Caliber Ammunition Market size?
In 2024, the Asia-Pacific Medium And Large Caliber Ammunition Market size is expected to reach USD 461.84 million.
