2025 Artillery Ammunition Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Artillery Ammunition Industry Market Size Be by 2025?
In recent times, the sector of artillery ammunition has seen substantial growth in market size. A leap from $5.29 billion is projected in 2024 to $5.60 billion in 2025, at a compound annual growth rate (CAGR) of 5.7%. This growth surge in the past chronology can be linked to intensifying international tensions, a growing necessity for force modernization in the military, a surge in asymmetrical warfare, an increase in global defense budgets, and an escalating requirement for precision strike capabilities with a long-range.

What's the Long-Term Growth Forecast for the Artillery Ammunition Market Size Through 2029?
In the coming years, the artillery ammunition market is projected to experience robust growth, expanding to a market size of $6.94 billion by 2029 with a compound annual growth rate (CAGR) of 5.5%. This projected growth over this period can be linked to the rising demand for precision-guided munitions, an increase in military investments, escalation in geopolitical conflicts, the expansion of joint military exercises, and heightened emphasis on native ammunition production. The period also forecasts significant trends such as advancements in smart artillery shells, the evolution of propulsion technologies for extended range, creation of modular ammunition systems, innovations in guided artillery munitions, and the progression of automation in artillery fire control systems.

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What Are the Key Growth Drivers Fueling the Artillery Ammunition Market Expansion?
The boost in military spending is predicted to drive the expansion of the artillery ammunition market in the future. Military spending encompasses the government's allocation towards armed services, encompassing expenses for personnel, equipment, operations, and national defense infrastructure. As countries are investing heavily in updating their military with cutting-edge technologies such as AI, autonomous weaponry, and cyber defense systems to remain competitive in contemporary warfare, there's an increase in defense spending. Such expenditures benefit the artillery ammunition sector as they finance the research, development, production, and procurement of advanced artillery shells and fuze systems, thereby augmenting the firepower, accuracy, and overall potency of the military. For example, the UK's House of Commons projected in May 2025 that military spending will hit around $72.2 billion (£56.9 billion) in 2024/25 and climb to about $75.9 billion (£59.8 billion) in 2025/26, mirroring an annual growth rate of 2.4% in real terms from 2023/24 to 2025/26. Hence, the surge in defense expenditure is fueling the growth of the artillery ammunition market.

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What Are the Key Trends Driving Artillery Ammunition Market Growth?
Leading businesses in the artillery ammunition market are concentrating on creating technologically superior solutions, like electronic programmable artillery fuzes, to boost the accuracy, versatility, and efficacy of firepower. The term electronic programmable artillery fuze refers to progressive fuse systems that can be electronically preset prior to firing to manage the detonation timing and method, thus improving the precision and potency of artillery rounds. For instance, KMW+Nexter Defense Systems, a defense sector company based in the Netherlands, launched a new programmable artillery fuze system in June 2024. This system, inclusive of two electronic programmable fuzes and a portable, handheld inductive fuze setter, enables artillery squads to swiftly and securely program fuzes immediately before firing. This feature initiates various detonation modes such as airburst, point detonation, and delay for optimal operational versatility and safety. The fuzes, engineered for use with diverse artillery ammunition calibers, are NATO-compliant, thus elevating the efficacy and adaptability of contemporary artillery units.

How Is the Artillery Ammunition Market Segmented?
The artillery ammunition market covered in this report is segmented -

1) By Ammunition Type: High Explosive Ammunition, Armor-Piercing Ammunition, Training Ammunition, Illumination Ammunition, Smoke Ammunition
2) By Component: Fuses, Primers, Propellants, Projectiles, Other Components
3) By Application: Land Forces, Naval Forces, Air Forces, Special Forces
4) By End-User: Military, Law Enforcement, Other End-Users

Subsegments:
1) By High Explosive Ammunition: High-Explosive (HE) Fragmentation Shells, High-Explosive Anti-Tank (HEAT) Shells, High-Explosive Squash Head (HESH) Shells
2) By Armor-Piercing Ammunition: Armor-Piercing Fin-Stabilized Discarding Sabot (APFSDS), Armor-Piercing Capped (APC), Armor-Piercing High-Explosive (APHE)
3) By Training Ammunition: Inert Practice Rounds, Reduced Range Practice Ammunition, Target Practice With Tracer (TP-T)
4) By Illumination Ammunition: White Light Illumination Rounds, Infrared (IR) Illumination Rounds, Multispectral Illumination Rounds
5) By Smoke Ammunition: White Phosphorus Smoke Rounds, Hexachloroethane (HC) Smoke Rounds, Colored Smoke Rounds

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Which Companies Are Leading the Charge in Artillery Ammunition Market Innovation?
Major Companies operating in the artillery ammunition market are RTX Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems Public Limited Company, Thales S.A., Leonardo Società per Azioni, Textron Inc., Singapore Technologies Engineering Ltd, Rheinmetall AG, Elbit Systems Ltd., Hanwha Aerospace Co. Ltd., Saab Aktiebolag, Diehl Defence GmbH & Co. KG, Poongsan Corporation, Nammo AS, Denel SOC Ltd, Arsenal Joint Stock Company, Nexter Systems S.A., MESKO Spólka Akcyjna, Hirtenberger Defence Systems GmbH & Co KG.

Which Regions Are Leading the Global Artillery Ammunition Market in Revenue?
North America was the largest region in the artillery ammunition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artillery ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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