Newark, March 13, 2023 (GLOBE NEWSWIRE) -- The Large caliber ammunition market was estimated at around USD 408.5 million in 2021, growing at a CAGR of nearly 2.5% during 2022-2030. The market is projected to reach approximately USD 510.2 million by 2030.
Ammunition, also known as shot, shrapnel, bullets, or shells, is any substance that is fired, spread, dropped, or exploded by a weapon, including bombs and rockets. However, gunfire often produces the most ammunition. Ammunition is a weapon that can only be used once, but it also acts as the building block for other weapons that strike a target. There are many different types of ammunition available, and many of them are designed to only work with specific types of firearms. Large Caliber ammunition is referred to as having a caliber size between 40mm and 155mm. The demand for ammunition is anticipated to increase along with the need for defense equipment among militaries as a result of rising geopolitical unrest worldwide. Through in-house development initiatives and foreign purchases, the Indian Army intends to increase the number of artillery and mortar platforms during the next 10 years, which will boost the need for ammunition over the forecast period. Rising tensions in Middle Eastern countries are also anticipated to increase regional demand.
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Growth Factors
Governments all over the world are investing in weaponry including naval guns, field artillery, and mortars to increase the military's lethality, protect civilians, and secure land and marine borders. Additionally, these weapons are more affordable than the pricey missiles and rockets utilized in ground strike operations. The demand for large-caliber ammunition is being driven by these reasons on a global scale. Additionally, the expansion of international disputes will significantly influence the growth of the large caliber ammunition market throughout the projection period. To prepare for wars with the surrounding countries, the military organizations are increasing their artillery reserves. The U.S. Army said in January 2019 that it would be stationing an additional 1,500 units on the battlefield in Germany and Baumholder. Increased military troop size will result in tremendous industry growth potential.
The framework of international security systems has been harmed by the expanding hegemonism, power politics, and unilateralism that have fueled many current global crises as a result of fundamental changes in the global strategic environment. The main factors upsetting the geopolitical environment are political tensions, ambiguity around territorial rights, and the military superpowers' desire for global hegemony. The most popular strategy used by governments in this area is to raise military spending in order to bolster national security. United States, China, India, the United Kingdom, and Russia accounted for 62% of global military spending in 2021, making them the top five military spenders. Military superpowers have been concentrating on improving their offensive and defensive capacities. Due to the considerable funding, new weapon and ammunition systems are being studied and developed in order to combat hostile soldiers and eliminate threats. Several armed forces have invested significantly in enhancing their military firepower capabilities by purchasing weaponry such as mortars, howitzers, naval gun systems, vehicle mounted weapons, and other types. The demand for the appropriate ammunition has increased as a result on a global scale.
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Segmental Overview
The market for large caliber ammunition market is segmented into the end user and distribution channel. According to the end user, the ground forces segment is expected to increase at the quickest rate. Due to significant shifts in the international strategic environment, the structure of international security systems has been compromised by the rise of hegemony, unilateralism, and power politics, which have fueled numerous ongoing international conflicts. The main factors upsetting the geopolitical situation are uncertainty regarding territorial claims, political conflicts, and military superpower competition for global domination. Hence, maximum numbers of large-caliber rounds are being used by the ground forces.
During the forecast period, the large caliber ammunition market by distribution channel is expected to be dominated by the distributor. As distributors assist in managing customer-facing centers stocked with high-quality goods and are supported by a delivery guarantee in the region, the distributor segment is becoming more and more popular. Additionally, enough warehouse space is accessible for both storage and timely delivery to nearby customers. By selling their goods to a variety of retailers, this distribution channel also enables production organizations to reduce costs and strengthen core competencies. These benefits are anticipated to have a significant impact on the segment's revenue growth.
Regional Overview
In the large caliber ammunition market, North America represented the largest market share of the whole market. During the projected period, North America is anticipated to account for the biggest market share. Rising terrorist attacks, which have caused armed forces to use more ammunition, and an increase in drug cartel activity in Central America are two major causes anticipated to fuel market expansion in the region. In 2021, the United States continued to spend the most on defense, accounting for 38% of worldwide spending. The budget authorization for the Department of Defense for FY 2022 is roughly USD 722 billion, up USD 17 billion from USD 705 billion in FY 2020, whereas the President's budget request for FY 2023 was USD 773 billion for the DoD. The budget is primarily focused on innovations to boost the nation's competitive advantage as well as updating capabilities in the air, sea, and ground warfighting domains.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Million |
| Large caliber ammunition Market CAGR | 2.5% |
| Segments Covered | By End User By Distribution Channel |
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List of the prominent players in the Global Large caliber ammunition market:
• General Dynamics Corporation
• BAE Systems PLC
• Rheinmetall AG
• Nexter group KNDS
• Northrop Grumman Corporation
• Ukroboronprom
• Denel SOC Ltd
• Nammo AS
• ST Engineering
• Saab AB
The global Large caliber ammunition market is segmented as follows:
By End User
• Naval Forces
• Ground Forces
By Distribution Channel
• Direct Sales
• Distributor
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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