Artillery Ammunition Market Research Report, Growth Trends and Competitive Analysis 2022-2028

The Artillery Ammunition Market has driven a few nations to upgrade their tactical assets through the acquisition of cutting-edge ammo and hardware. Modernization is at present being embraced across most rising economies of the world, including Russia, China, Turkey, India, and Saudi Arabia. Subsequently, protection consumption for ammo acquisition and R&D exercises has expanded altogether across the globe throughout the course of recent years. These nations are spending altogether on military modernization projects to improve and redesign their reconnaissance capacities and further develop their capability resources concerning range, accuracy, versatility, and lethality, with reach and accuracy being the principal rules for ammo acquirements. These modernization exercises are one of the main drivers for little-type ammo and gun requests. Expanding preparation use by significant economies, as well as arising economies, is additionally developing little ammo utilization.

Competitors List: The Artillery Ammunition Market is dominated by a few globally established players such as Northrop Grumman Corporation (US), CBC Global Ammunition (Brazil), BAE Systems (UK), and General Dynamics Corporation (US) among others

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The sociopolitical need for nations like China, India, and South Korea to be fight prepared has brought about the huge scope of cutting-edge ammo, including little-type ammo, alongside other high-level fighting hardware. This rifle is the new assistance weapon of the Chinese military. Likewise, starting around 2022, the Defence Acquisition Council of India got the acquisition free from Negev 7.62x51mm LMG for use by the Indian Army, Navy, and Air Force. This LMG will supplant the 5.56x45mm INSAS LMG and is supposed to build the lethality and scope of warriors.

Other eminent military modernization programs have been seen in Russia, Brazil, and a few nations of the European Union. The rising requirement for huge infantry powers, which is additionally a significant part of military modernization programs, is another main consideration driving the interest in the Artillery Ammunition Market worldwide.

Division Segment

Based on caliber, the Artillery Ammunition Market has been segmented into small, medium, large, and others. The small caliber segment is projected to grow at the highest during the forecast period. The growth of this segment can be attributed to the increased use of small caliber ammunition by military and homeland security personnel, owing to less lethality of this ammunition. Moreover, open online marketplaces for small arms and ammunition and increased procurement of small caliber ammunition by the defense and homeland security sectors to curb rising instances of armed conflicts are also contributing to the growth of this segment.

Based on products, the Artillery Ammunition Market has been segmented into bullets, aerial bombs, grenades, artillery shells, and mortars. The bullets segment is projected to grow at the highest. In recent years, an increasing focus has been observed to upgrade land as well as air force inventory across the globe due to multiple reasons such as geopolitical tensions and air force applications. For instance, the US has ongoing F-35 fighter aircraft programs. Whereas the Indian air force is looking for multi-role aircraft to strengthen their armed forces, and hence new aircraft procurements will lead to an increased demand for related ammunition in the coming years. Hanwha Corporation (South Korea) and General Dynamics Corporation (US) manufacture aerial bombs for applications.

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Regional Analysis

Asia-Pacific is expected to generate the highest demand for the Artillery Ammunition Market during the forecast period. This demand is majorly due to the ongoing conflicts between the neighboring countries. The countries are procuring artillery and mortar systems to protect their borders, which is likely to generate demand for artillery and mortar ammunition during the forecast period. Currently, India is planning to procure Excalibur-guided long-range artillery ammunition from the United States under the emergency procurement procedures, to deploy them at the Line of Control.

South Korea is expected to continue production of the K9 Thunder 155 mm/52 caliber self-propelled artillery system and associated K10 Ammunition Resupply Vehicle (ARV) till at least 2022, for the domestic and international markets. The country is currently replacing the K55 self-propelled howitzers with K9 Thunder. This generates the need for the procurement of artillery ammunition in the region. The development of new artillery systems and ammunition by the countries in the region is expected to boost the growth of the Artillery Ammunition Market in Asia-Pacific.

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This release was published on openPR.