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155mm Ammunition Market 2023-2032: Future Scope, New Technology, Industry Share And Major Players | Raytheon Technologies Inc., General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, China North Industries Corporation
155mm Ammunition Market
The Business Research Company's Template Global Market Report 2023 identifies Rising terrorist activities as the major driver for the 155mm Ammunition Market's growth in the forecast period. Terrorist activity refers to actions carried out by individuals, groups, or organizations to cause fear, panic, and harm to civilians, governments, or societies for political, ideological, religious, or social purposes. Increasing terrorist activities increase the need for better, lethal weapons and stronger forces, where 155mm ammunition can be useful for security forces to combat terrorism and cause the destruction of terrorist sites.
The global 155mm ammunition market is expected to grow from $3.43 billion in 2022 to $3.52 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The 155mm ammunition market is expected to reach $4.05 billion in 2027 at a CAGR of 3.5%.
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Major competitors in the 155mm ammunition market are Raytheon Technologies Inc., General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, China North Industries Corporation, Thales Group, Leonardo S.p.A., Olin Corporation, Rheinmetall AG, Elbit Systems Ltd., Saab AB, Norma Precision AB, Remington Arms Company LLC, Nammo AS, Denel SOC Ltd., Nexter Group, Fiocchi Munizioni SPA, Ammo Inc., RUAG Holding AG, Munitions India Ltd., Savage Arms, Hornady Manufacturing Company, MSM Group s.r.o., Federal Premium Ammunition, Winchester Ammunition Inc., Magtech Ammunition Company Inc., Poongsan Corporation, and JSC Arsenal AD.
A key trend in the 155mm Ammunition Market includes development of new propellants. Major companies in the 155mm ammunition market are introducing innovative propellant designs to sustain their position in the market. For instance, in September 2022, Rheinmetall, a Germany-based arms manufacturer, launched its latest L58 extended-range artillery propellant charge technology. The new technology increases the firing range by 10% as compared to previous artillery propellants previously used by armies and is capable of increasing the entirety of the operational temperature profile, including in ambient scenarios. It was developed by conducting R&D on the L39 and L52 versions of the 155mm extended range charge.
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The 155mm Ammunition Market is segmented -
By Technology: Guided, Unguided
By Application: Projectiles, Propellants, Tanks, Other Applications
By End User: Naval Forces, Ground Forces
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the 155mm Ammunition Market.
The Business Research Company's "Global 155mm Ammunition Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The 155mm Ammunition Market Include:
1. Executive Summary
2. 155mm Ammunition Market Characteristics
3. 155mm Ammunition Market Trends And Strategies
4. 155mm Ammunition Market - Macro Economic Scenario
5. Global 155mm Ammunition Market Drivers and Restraints
……
32. Global 155mm Ammunition Market Competitive Benchmarking
33. Global 155mm Ammunition Market Competitive Dashboard
34. Key Mergers And Acquisitions In The 155mm Ammunition Market
35. 155mm Ammunition Market Future Outlook and Potential Analysis
36. Appendix
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