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Top Market Shifts Transforming the Consolidated Region 30MM Ammunition Market Landscape: Key Insights
Consolidated Region 30MM Ammunition
What Is the Expected CAGR for the Consolidated Region 30MM Ammunition Market Through 2025?
The aggregated market size for region 30mm ammunition has experienced a significant increase in the past few years. The market will expand from $1.95 billion in 2024 to hit $2.05 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.3%. This rise in the historical period can be linked to the initiatives for military modernisation, regional safety issues, counterterrorism efforts, peacekeeping and stability operations, and the allocations for the defense budget.
What's the Projected Size of the Global Consolidated Region 30MM Ammunition Market by 2029?
Anticipations suggest that the conjoined area for the 30mm ammunition market will witness substantial growth in the upcoming years, expanding to $2.53 billion by 2029 with a compound annual growth rate (CAGR) of 5.4%. This predicted growth during the forecast period can be credited to factors such as shifts in geopolitical landscape, modernisation efforts in the military, endeavours for peacekeeping and conflict resolution, alterations in military plans, and joint defence initiatives. Predominant trends for the forecast period are the stress on ecological sustainability, heightened cooperation among manufacturers, emphasis on budget-friendly solutions, use of composite materials, and the emergence of intelligent ammunition.
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Top Growth Drivers in the Consolidated Region 30MM Ammunition Industry: What's Accelerating the Market?
The rise in defense expenditures is predicted to boost the growth of the consolidated region's 30mm ammunition market. Defense expenditures include a nation's investment in its military infrastructure and other security-related measures. By investing in consolidated 30mm ammunition, the military ensures that its armed forces have sufficient, precise, and powerful ammunition to use effectively in battle, thereby improving the combat competence of the soldiers. For example, the Office of the Parliamentary Budget Officer, a Canada-based intergovernmental organization, projected that total military expenditures will surge from $36.3 billion in 2022-2023 to $51.0 billion in 2026-2027. Thus, the increase in defense expenditures is steering the expansion of the consolidated region's 30mm ammunition market.
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What Trends Will Shape the Consolidated Region 30MM Ammunition Market Through 2029 and Beyond?
The emergence of product advancements is a significant trend that is rapidly gaining traction in the consolidated 30mm ammunition market. To maintain their market dominance, major firms involved in this market are creating novel products. For example, in January 2023, Economic Explosives Ltd., a chemical company located in India, created 30mm AK-630-HE ammunition, which was then received by the Indian Navy. This marked the occurrence of the first wholly indigenous 30mm ammunition manufactured in India, primarily intended for use in the AK-630 guns mounted on warships.
What Are the Main Segments in the Consolidated Region 30MM Ammunition Market?
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 Incendiarym Or Tracer - Self Destruct (HEI Or T-S.D), Semi-armor Piercing High Explosive Incendiary-Tracer Or 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
Subsegments:
1) By 20mm: Armor-Piercing Rounds, High-Explosive Incendiary Rounds, Training Rounds
2) By 25mm: Armor-Piercing Rounds, High-Explosive Rounds, Practice Rounds
3) By 30mm: High-Explosive Incendiary (HEI) Rounds, Armor-Piercing Discarding Sabot (APDS) Rounds, Target Practice Rounds
4) By 40mm: High-Explosive Rounds, Smoke Rounds, Training Rounds
5) By Other Calibers: Varied Specialty Rounds, Custom Or Experimental Calibers
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Which Top Companies are Driving Growth in the Consolidated Region 30MM Ammunition Market?
Major companies operating in the consolidated region 30mm ammunition market include 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
Which Regions Will Dominate the Consolidated Region 30MM Ammunition Market Through 2029?
North America was the largest region in the consolidated region 30mm ammunition market in 2024. The regions covered in the consolidated region 30mm ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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