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Consolidated Region 30MM Ammunition Market Key Trends, Latest Insights, Future Trends And Forecast To 2033
Consolidated Region 30MM Ammunition Market Overview
As per the report, the consolidated region 30mm ammunition market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The consolidated region 30mm ammunition market size is expected to see strong growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
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Rising Military Expenditure Fuels Growth In Consolidated Region's 30Mm Ammunition Market
Growth in military spending is expected to propel the growth of the consolidated region's 30mm ammunition market going forward. Military spending is the sum of money that a country spends on building and sustaining its armed forces or other defense-related strategies. The military's expenditure on consolidated 30 mm ammunition guarantees that the armed forces have access to ammunition that can engage targets precisely, effectively, and with enough firepower, which enhances soldiers' efficiency on the battlefield. For instance, in June 2022, according to the Office of the Parliamentary Budget Officer, a Canada-based intergovernmental organization, total military spending is expected to increase from $36.3 billion in 2022-2023 to $51.0 billion in 2026-2027. Therefore, growth in military spending is driving the growth of the consolidated region's 30mm ammunition market.
Economic Explosives Introduces Indigenous 30Mm Ak-630-He Ammunition For Indian Navy
Product developments are a key trend gaining popularity in the consolidated 30mm ammunition market. Major companies operating in the consolidated 30mm ammunition market are developing innovative products to sustain their position in the market. For instance, in January 2023, Economic Explosives Ltd., an India-based chemical company, developed 30mm AK-630-HE ammunition, which the Indian Navy received. This is the first-ever 100% indigenous 30mm ammunition made in India, mainly used in the AK-630 guns installed on warships.
The consolidated region 30mm ammunition market covered in this report is segmented -
1) By Caliber: 20mm, 25mm, 30mm, 40mm, Other Calibers
2) By Ammunition Type: High Explosive Incendiary (HEI), High Explosive Incendiary - Tracer (HEI-T), High Explosive Incendiary/Tracer - Self Destruct (HEI/T-S.D.), Semi-armor Piercing High Explosive Incendiary-Tracer/Self Destruct, Other Ammunitions
3) By Weapon Type: Autocannon, Rotary Cannon, Naval Gun, Anti-material Gun, Anti-aircraft Gun, Other Weapons
4) By Platform: Airborne, Naval, Land
5) By Application: Lethal, Non-lethal
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Major companies operating in the consolidated region 30mm ammunition market report are General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems plc, Thales Group, Olin Corporation, Rheinmetall Electronics GmbH, Elbit Systems Ltd., KMW + Nexter Defense Systems N.V., Poongsan Corporation, IMI Systems, Remington Arms Company LLC, Nammo AS, Denel SOC Ltd., Nexter Systems, Fiocchi Munizioni SpA, Economic Explosives Ltd., RUAG Holding AG, Arsenal JSCo., Nammo Lapua Oy, Rheinmetall Denel Munition (Pty) Ltd., Hornady Manufacturing Company, MSM GROUP s.r.o., Mesko SA, Speer Ammunition, Norma Precision AB, CBC Global Ammunition, CCI Ammunition, PMC Ammunition Inc., Magtech Ammunition Company Inc., RWS GmbH.
Contents of the report:
1. Executive Summary
2. Consolidated Region 30MM Ammunition Market Report Structure
3. Consolidated Region 30MM Ammunition Market Trends And Strategies
4. Consolidated Region 30MM Ammunition Market - Macro Economic Scenario
5. Consolidated Region 30MM Ammunition Market Size And Growth
…..
27. Consolidated Region 30MM Ammunition Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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