Large Caliber Ammunition Market Size (2024 - 2029)

The Large Caliber Ammunition Market is experiencing growth driven by increased defense expenditure and geopolitical conflicts, which have heightened the demand for such ammunition. The market's expansion is supported by investments in weapons systems that offer cost-effective alternatives to missiles and rockets, enhancing land and maritime security. Technological advancements in artillery and mortar systems, such as GPS-enabled targeting and rapid deployment capabilities, are further propelling the market. Despite the negligible impact of the COVID-19 pandemic, the ongoing global tensions and military conflicts continue to drive the market's upward trajectory.

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Market Size of Large Caliber Ammunition Industry

Large Caliber Ammunition Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 309.96 Million
Market Size (2029) USD 460.73 Million
CAGR (2024 - 2029) 8.25 %
Fastest Growing Market Europe
Largest Market North America

Major Players

Large Caliber Ammunition Market Major Players

*Disclaimer: Major Players sorted in no particular order

Large Caliber Ammunition Market Analysis

The Large Caliber Ammunition Market size is estimated at USD 309.96 million in 2024, and is expected to reach USD 460.73 million by 2029, growing at a CAGR of 8.25% during the forecast period (2024-2029).

The COVID-19 pandemic had a negligible impact on the market. This is mainly attributed to the increase in defense expenditure across major world powers. The military expenditure as of 2021 was valued at USD 2.1 trillion, with the United States spending the highest, followed by China and India. Furthermore, the ongoing war between Russia and Ukraine leads to the rising use of weapons and ammunition, and growing defense expenditure from NATO countries drives market growth across Europe. Thus, the growth in geopolitical conflicts among the countries of the region played a major role in driving defense spending toward large-caliber weapons and ammunition, driving the market.

Governments across the world are making investments in weapons, such as field artillery, mortars, naval guns, etc., to strengthen the land and maritime border security, civilian protection, and lethality of armed forces. These weapons are a cost-effective option over costly missiles and rockets used for ground attack operations. These factors are driving the demand for large-caliber ammunition globally.

Significant technological advancements, such as high-speed projectile firing, laser guidance systems, and the increasing need for friend or foe identification and precision targeting technology, drive the market growth for GPS-enabled artillery and mortar shells. Due to increased political disputes, terrorism, and cross-border conflicts, the need for rapid deployment of forces has increased, simultaneously increasing the demand for firepower support on the battlefield, driving the market growth for large-caliber ammunition.

Large Caliber Ammunition Industry Segmentation

Large caliber ammunition refers to ammunition with caliber sizes in the range of 40 mm to 155 mm. The large caliber ammunition market is segmented by caliber type, end-user, and geography. By caliber type, the market is segmented into 40-60 mm and above 60 mm. By end-user, the market is segmented into naval forces and ground forces. By geography, the market is classified as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report offers market size and forecasts for all the above segments in terms of values in USD billion.

By Caliber Type
40-60 mm
Above 60 mm
By End User
Naval Forces
Ground Forces (Air Force, Army, Special Forces, Border Security, Federal Agencies, etc.)
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
Israel
South Africa
Rest of Middle East and Africa
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Large Caliber Ammunition Market Size Summary

The large caliber ammunition market is poised for significant growth over the forecast period, driven by increased defense spending and geopolitical tensions. The market's expansion is largely fueled by the rising military expenditures of major global powers, with the United States, China, and India leading the charge. The ongoing conflict between Russia and Ukraine, along with heightened defense budgets from NATO countries, has further accelerated the demand for large caliber weapons and ammunition. Governments worldwide are investing in cost-effective military solutions, such as field artillery and naval guns, to enhance border security and military capabilities. Technological advancements in precision targeting and rapid deployment have also contributed to the market's growth, as nations seek to bolster their firepower in response to political disputes and cross-border conflicts.

The market landscape is moderately consolidated, with key players like General Dynamics, BAE Systems, and Rheinmetall AG dominating the scene. These companies are focusing on innovation in design and materials to meet the evolving demands of armed forces globally. Local manufacturing initiatives in countries such as Saudi Arabia, the United Arab Emirates, China, and India are further strengthening the market by increasing domestic production capabilities. The United States, as the largest defense spender, continues to lead in procurement plans for large caliber ammunition, with significant contracts awarded to major manufacturers. This trend is expected to drive market growth in North America, as the demand for advanced munitions and artillery systems remains robust.

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Large Caliber Ammunition Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Caliber Type

      1. 2.1.1 40-60 mm

      2. 2.1.2 Above 60 mm

    2. 2.2 By End User

      1. 2.2.1 Naval Forces

      2. 2.2.2 Ground Forces (Air Force, Army, Special Forces, Border Security, Federal Agencies, etc.)

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Israel

        4. 2.3.5.4 South Africa

        5. 2.3.5.5 Rest of Middle East and Africa

Large Caliber Ammunition Market Size FAQs

The Large Caliber Ammunition Market size is expected to reach USD 309.96 million in 2024 and grow at a CAGR of 8.25% to reach USD 460.73 million by 2029.

In 2024, the Large Caliber Ammunition Market size is expected to reach USD 309.96 million.

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