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Future of 155mm Ammunition Market: Size, Share & Forecasts to 2029
155mm Ammunition
What Is the Projected Market Size Valuation of the 155mm Ammunition Market by 2025?
In the past years, the market size for 155mm ammunition has seen a solid increase. It is projected to surge from $4.33 billion in 2024 to $4.68 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. The historical growth has been driven by factors such as military conflicts and wars, modernisation and upgrades of artillery systems, geopolitical tensions and security issues, the adoption of precision-guided munitions, the development of artillery platforms and firing systems, and the impact of arms race dynamics.
What Is the Estimated Market Growth Value for the 155mm Ammunition Industry in 2029?
The market for 155mm ammunition is projected to see robust growth in the coming years, and is expected to rise to a value of $5.89 billion by 2029. This implies a compound annual growth rate (CAGR) of 5.9%. The anticipated growth during this forecast period is due to a combination of factors including the integration of smart and guided ammunition technologies, a spike in the requirement for extended range artillery abilities, use of advanced materials in ammunition manufacturing, enhancement in counter-battery and anti-access capabilities, the adoption of flexible and customizable ammunition solutions, and an increased demand for autonomous and automated artillery systems. Notable trends for the forecast period entail technological progress in projectile design, advancements in propellant and explosives technology, innovation in fuzing and detonation systems, the creation of next-generation propellants, and the use of 3D printing for bespoke ammunition components.
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What Are the Growth Drivers and Opportunities in the 155mm Ammunition Market?
The escalation of terrorism incidents worldwide is predicted to spur the growth of the 155mm ammunition market in the future. The term "terrorist activity" relates to the actions taken by individuals, groups, or organizations aimed at instilling fear, inciting panic, and causing harm to civilians, governments, or societies for political, ideological, religious, or social reasons. An increased amount of such activities reinforces the need for superior lethal weapons and stronger forces, in which the role of 155mm ammunition can be pivotal for security forces combating terrorism and demolishing terrorist bases. For instance, the Global Terrorism Index produced by the Australia-based think tank, Institute for Economics & Peace, reported in 2023 that in 2022 terrorist attacks were more fatal, resulting in an average of 1.7 deaths per attack compared to 1.3 deaths per attack in 2021. Consequently, the surge in terrorist activities is fuelling the growth of the 155mm ammunition market.
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What Are the Primary Segments Covered in the Global 155mm Ammunition Market Report?
The 155mm ammunition market covered in this report is segmented -
1) By Technology: Guided, Unguided
2) By Application: Projectiles, Propellants, Tanks, Other Applications
3) By End User: Naval Forces, Ground Forces
Subsegments:
1) By Guided: GPS-Guided Shells, Laser-Guided Munitions, Inertial Navigation Guided Shells
2) By Unguided: High-Explosive (HE) Shells, Smoke Shells, Illumination Shells, Training Rounds
What Are the Top Growth Trends in the 155mm Ammunition Market?
The emergence of novel propellants is an up-and-coming trend in the 155mm ammunition market. Established companies in this market are rolling out innovative propellant designs to maintain their foothold. For example, Rheinmetall, a German arms manufacturer, unveiled its latest L58 extended-range artillery propellant charge technology in September 2022. This new technology enhances the firing range by 10% compared to earlier artillery propellants used by militaries and can improve the whole operational temperature profile, even in standard conditions. It was conceived as a result of R&D on the L39 and L52 iterations of the 155mm extended range charge.
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Which Companies Are Shaping the Future of the 155mm Ammunition Market?
Major companies operating in the 155mm ammunition market include 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, Nammo AS, Denel SOC Ltd., Nexter Group, Ammo Inc., RUAG Holding AG, Munitions India Ltd., Savage Arms, Hornady Manufacturing Company, MSM Group s.r.o., Winchester Ammunition Inc., Magtech Ammunition Company Inc., Poongsan Corporation, JSC Arsenal AD
Which Region Holds the Largest Market Share in the 155mm Ammunition Industry?
Asia-Pacific was the largest region in the 155mm ammunition market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the 155mm ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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