155mm Ammunition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of 155mm Ammunition Market
The 155mm ammunition market size was valued at USD 3.37 billion in 2021, and the market is now projected to grow from USD 3.44 billion in 2022 to USD 4.33 billion by 2029, exhibiting a CAGR of 3.33% during the forecast period of 2022-2029.
Pandemic extensively impacted the corporation, but is expected to increase in 2020. The European Union plans to spend a record USD 242.9 billion on protection in 2020, irrespective of a drop in collaborative protection expenditure. Demand cut price has modified the enterprise dynamic, primary agencies to release e-trade systems to simplify distribution networks. The 155mm ammunition market growth is pushed through the use of improved procurement of advanced howitzers and 155mm ammunition from nations like France, Germany, and Poland.
Rising terrorist activities, worldwide political unrest, and geopolitical tensions have heightened the demand for subsequent-era ammunition and system to enhance national protection. Key producers are investing in R&D to expand superior, cost-effective, extended-range, and high-precision ammunition. The boom of this market is pushed by way of the demand for howitzer and advanced ammunition by means of militia. Rheinmetall AG provided an agreement to deliver a present day high-variety 155mm artillery ammunition to an undisclosed NATO member nation, while Eurenco acquired a protracted-term settlement to manufacture and deliver over 200,000 modular expenses and base bleed devices for 155mm artillery structures. These massive-quality ammunitions are typically utilized in defense forces for combat operations.
BAE Systems has introduced the Long Range Precision Guidance Kit, an modern steering system equipped with anti-jam GPS era. This gadget complements performance of present and future navy artillery structures by means of decreasing ballistic errors, ordnance dispersion, efficiency, and operational and preservation prices. The package, which turned into validated in September 2019, can modernize land forces through preserving a modular structure for low-value, huge-scale manufacturing. It also allows lengthy-variety precision firing abilities, lowering ballistic mistakes and ordnance dispersion.
Comprehensive Analysis of 155mm Ammunition Market
The artillery ammunition market is divided into guided and unguided segments, with the unguided segment accounting for 61.52% of the market share in 2021. This growth is attributed to the increasing use of guided projectiles and the need for howitzers to extend their range and precision. Leonardo Defense Systems provides OTO VULCANO, a family of unguided Ballistic Extended Range ammunition. The guided segment is projected to grow at a CAGR of 4.00%, driven by the increasing use of guided projectiles. The propellant segment is the largest, accounting for 31.39% of the market share, driven by security concerns, political disputes, and cross-border issues between Russia and Ukraine. The projectiles segment is the fastest-growing, with a CAGR of 4.21%, driven by the increasing demand for artillery shells.
The Asia Pacific region lead the 155mm ammunition market share by benefitting a market size of USD 1.35 billion in 2021 due to increased military expenditure, large 155mm howitzer fleets, and high demand for next-generation programmable precision munition kits. Factors such as contract increases between regional and domestic players and regional armed forces also contributed to the growth. Key players like ST Engineering Ltd., China North Industries Corp., Munitions India Ltd., and Solar Group are expected to drive market growth.
155mm ammunition producers are increasing their enterprise thru partnerships, agreements, and contracts with government and defense groups. General Dynamics Ordnance and Tactical Systems tested its XM1210/XM1113ER systematic excessive explosive rocket-assisted extended-range projectile on US Army's next-era prolonged-variety cannon artillery structures, with a powerful variety of over 70 km. Nexter Group signed a licensing agreement with STV Group in September 2021 to certify regionally manufactured munitions and expenses for the Czech Armed Forces' software. Key corporations concerned in this growth encompass BAE Systems Plc., Elbit Systems Ltd., General Dynamics Corporation, MSM Group s.R.O., Nammo A.S., KNDS N.V., Northrop Grumman Corporation, Rheinmetall AG, RIJAG Group, and ST Engineering Ltd.
Elbit Systems has announced that its SIGMA next-generation 155mm fully automated self-propelled wheeled howitzer is set to replace the Israeli Armed Forces' fleet of MI 09 Crawler Howitzers.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2018-2029
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2029
Historical Period 2018-2020
Unit Value (USD Billion)
Segmentation By Technology, Component, and Geography
By Technology
Guided
Unguided
By Component
Projectiles
Primers
Propellants
Fuze
By Geography
North America (Technology, Component, and Country)
U.S. (By Technology)
Canada (By Technology)
Europe (Technology, Component, and Country)
U.K. (By Technology)
Germany (By Technology)
France (By Technology)
Russia (By Technology)
Italy (By Technology)
Rest of Europe (By Technology)
Asia Pacific (Technology, Component, and Country)
South Korea (By Technology)
India (By Technology)
Taiwan (By Technology)
China (By Technology)
Rest of Asia Pacific (By Technology)
Middle East (Technology, Component, and Country)
Turkey (By Technology)
Israel (By Technology)
Iran (By Technology)
Saudi Arabia (By Technology)
Jordan (By Technology)
Rest of the Middle East (By Technology)
Africa (Technology, Component, and Country)
Egypt (By Technology)
Morocco (By Technology)
Algeria (By Technology)
South Africa (By Technology)
Rest of Africa (By Technology)
Latin America (Technology, Component, and Country)
Brazil (By Technology)
Argentina (By Technology)
Mexico (By Technology)
Rest of Latin America (By Technology)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions, and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights- Impact of COVID-19 Pandemic on Global 155mm Ammunition Market
- 5.1. Impact of COVID-19 on Global 155mm Ammunition Market
- 5.2. Steps Taken by Industry/Companies/Governments to Overcome the Impact
- 5.3. Potential Opportunities Due to COVID-19 Outbreak
- 5.4. Impact of Russia-Ukraine Crisis on the Market
- 6. Global 155mm Ammunition Market Analysis, Insights and Forecast, 2018-2029
- 6.1. Key Findings / Segmental Definitions
- 6.2. Market Analysis, Insights, and Forecast – By Technology
- 6.2.1. Guided
- 6.2.2. Unguided
- 6.3. Market Analysis, Insights and Forecast – By Components
- 6.3.1. Projectiles
- 6.3.2. Primers
- 6.3.3. Propellants
- 6.3.4. Fuze
- 6.4. Market Analysis, Insights, and Forecast – By Region
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Middle East
- 6.4.5. Africa
- 6.4.6. Latin America
- 7. North America 155mm Ammunition Market Analysis, Insights and Forecast, 2018-2029
- 7.1. Market Analysis, Insights, and Forecast – By Technology
- 7.1.1. Guided
- 7.1.2. Unguided
- 7.2. Market Analysis, Insights and Forecast – By Components
- 7.2.1. Projectiles
- 7.2.2. Primers
- 7.2.3. Propellants
- 7.2.4. Fuze
- 7.3. Market Analysis – By Country
- 7.3.1. The U.S.
- 7.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 7.3.1.1.1. Guided
- 7.3.1.1.2. Unguided
- 7.3.2. Canada
- 7.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 7.3.2.1.1. Guided
- 7.3.2.1.2. Unguided
- 8. Europe 155mm Ammunition Market Analysis, Insights and Forecast, 2018-2029
- 8.1. Market Analysis, Insights, and Forecast – By Technology
- 8.1.1. Guided
- 8.1.2. Unguided
- 8.2. Market Analysis, Insights and Forecast – By Components
- 8.2.1. Projectiles
- 8.2.2. Primers
- 8.2.3. Propellants
- 8.2.4. Fuze
- 8.3. Market Analysis – By Country
- 8.3.1. The U.K
- 8.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.1.1.1. Guided
- 8.3.1.1.2. Unguided
- 8.3.2. Germany
- 8.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.2.1.1. Guided
- 8.3.2.1.2. Unguided
- 8.3.3. France
- 8.3.3.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.3.1.1. Guided
- 8.3.3.1.2. Unguided
- 8.3.4. Russia
- 8.3.4.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.4.1.1. Guided
- 8.3.4.1.2. Unguided
- 8.3.5. Italy
- 8.3.5.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.5.1.1. Guided
- 8.3.5.1.2. Unguided
- 8.3.6. Rest of Europe
- 8.3.6.1. Market Analysis, Insights, and Forecast – By Technology
- 8.3.6.1.1. Guided
- 8.3.6.1.2. Unguided
- 9. Asia Pacific 155mm Ammunition Market Analysis, Insights, and Forecast, 2018-2029
- 9.1. Market Analysis, Insights, and Forecast – By Technology
- 9.1.1. Guided
- 9.1.2. Unguided
- 9.2. Market Analysis, Insights and Forecast – By Components
- 9.2.1. Projectiles
- 9.2.2. Primers
- 9.2.3. Propellants
- 9.2.4. Fuze
- 9.3. Market Analysis – By Country
- 9.3.1. South Korea
- 9.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 9.3.1.1.1. Guided
- 9.3.1.1.2. Unguided
- 9.3.2. India
- 9.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 9.3.2.1.1. Guided
- 9.3.2.1.2. Unguided
- 9.3.3. Taiwan
- 9.3.3.1. Market Analysis, Insights, and Forecast – By Technology
- 9.3.3.1.1. Guided
- 9.3.3.1.2. Unguided
- 9.3.4. China
- 9.3.4.1. Market Analysis, Insights, and Forecast – By Technology
- 9.3.4.1.1. Guided
- 9.3.4.1.2. Unguided
- 9.3.5. Rest of Asia Pacific
- 9.3.5.1. Market Analysis, Insights, and Forecast – By Technology
- 9.3.5.1.1. Guided
- 9.3.5.1.2. Unguided
- 10. The Middle East 155mm Ammunition Market Analysis, Insights, and Forecast, 2018-2029
- 10.1. Market Analysis, Insights, and Forecast – By Technology
- 10.1.1. Guided
- 10.1.2. Unguided
- 10.2. Market Analysis, Insights and Forecast – By Components
- 10.2.1. Projectiles
- 10.2.2. Primers
- 10.2.3. Propellants
- 10.2.4. Fuze
- 10.3. Market Analysis – By Country
- 10.3.1. Turkey
- 10.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.1.1.1. Guided
- 10.3.1.1.2. Unguided
- 10.3.2. Israel
- 10.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.2.1.1. Guided
- 10.3.2.1.2. Unguided
- 10.3.3. Iran
- 10.3.3.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.3.1.1. Guided
- 10.3.3.1.2. Unguided
- 10.3.4. Saudi Arabia
- 10.3.4.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.4.1.1. Guided
- 10.3.4.1.2. Unguided
- 10.3.5. Jordan
- 10.3.5.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.5.1.1. Guided
- 10.3.5.1.2. Unguided
- 10.3.6. Rest of the Middle East
- 10.3.6.1. Market Analysis, Insights, and Forecast – By Technology
- 10.3.6.1.1. Guided
- 10.3.6.1.2. Unguided
- 11. Africa 155mm Ammunition Market Analysis, Insights, and Forecast, 2018-2029
- 11.1. Market Analysis, Insights, and Forecast – By Technology
- 11.1.1. Guided
- 11.1.2. Unguided
- 11.2. Market Analysis, Insights and Forecast – By Components
- 11.2.1. Projectiles
- 11.2.2. Primers
- 11.2.3. Propellants
- 11.2.4. Fuze
- 11.3. Market Analysis – By Country
- 11.3.1. Egypt
- 11.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 11.3.1.1.1. Guided
- 11.3.1.1.2. Unguided
- 11.3.2. Morocco
- 11.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 11.3.2.1.1. Guided
- 11.3.2.1.2. Unguided
- 11.3.3. Algeria
- 11.3.3.1. Market Analysis, Insights, and Forecast – By Technology
- 11.3.3.1.1. Guided
- 11.3.3.1.2. Unguided
- 11.3.4. South Africa
- 11.3.4.1. Market Analysis, Insights, and Forecast – By Technology
- 11.3.4.1.1. Guided
- 11.3.4.1.2. Unguided
- 11.3.5. Rest of Africa
- 11.3.5.1. Market Analysis, Insights, and Forecast – By Technology
- 11.3.5.1.1. Guided
- 11.3.5.1.2. Unguided
- 12. Latin America 155mm Ammunition Market Analysis, Insights, and Forecast, 2018-2029
- 12.1. Market Analysis, Insights, and Forecast – By Technology
- 12.1.1. Guided
- 12.1.2. Unguided
- 12.2. Market Analysis, Insights and Forecast – By Components
- 12.2.1. Projectiles
- 12.2.2. Primers
- 12.2.3. Propellants
- 12.2.4. Fuze
- 12.3. Market Analysis – By Country
- 12.3.1. Brazil
- 12.3.1.1. Market Analysis, Insights, and Forecast – By Technology
- 12.3.1.1.1. Guided
- 12.3.1.1.2. Unguided
- 12.3.2. Argentina
- 12.3.2.1. Market Analysis, Insights, and Forecast – By Technology
- 12.3.2.1.1. Guided
- 12.3.2.1.2. Unguided
- 12.3.3. Mexico
- 12.3.3.1. Market Analysis, Insights, and Forecast – By Technology
- 12.3.3.1.1. Guided
- 12.3.3.1.2. Unguided
- 12.3.4. Rest of Latin America
- 12.3.4.1. Market Analysis, Insights, and Forecast – By Technology
- 12.3.4.1.1. Guided
- 12.3.4.1.2. Unguided
- 13. Competitive Analysis
- 13.1. Competitive Dashboard
- 13.2. Global Market Share Analysis (2021)
- 14. Company Profiles (Overview, Products & Services, SWOT analysis, Recent Developments, Strategies, Financials (Based on Availability))
- 14.1. BAE Systems
- 14.1.1. Overview,
- 14.1.2. Products & Services,
- 14.1.3. SWOT analysis,
- 14.1.4. Recent Developments,
- 14.1.5. Strategies,
- 14.1.6. Financials (Based on Availability)
- 14.2. Elbit Systems
- 14.2.1. Overview,
- 14.2.2. Products & Services,
- 14.2.3. SWOT analysis,
- 14.2.4. Recent Developments,
- 14.2.5. Strategies,
- 14.2.6. Financials (Based on Availability)
- 14.3. General Dynamics Corporation
- 14.3.1. Overview,
- 14.3.2. Products & Services,
- 14.3.3. SWOT analysis,
- 14.3.4. Recent Developments,
- 14.3.5. Strategies,
- 14.3.6. Financials (Based on Availability)
- 14.4. MSM Group s.r.o.
- 14.4.1. Overview,
- 14.4.2. Products & Services,
- 14.4.3. SWOT analysis,
- 14.4.4. Recent Developments,
- 14.4.5. Strategies,
- 14.4.6. Financials (Based on Availability)
- 14.5. NAMMO AS
- 14.5.1. Overview,
- 14.5.2. Products & Services,
- 14.5.3. SWOT analysis,
- 14.5.4. Recent Developments,
- 14.5.5. Strategies,
- 14.5.6. Financials (Based on Availability)
- 14.6. KNDS N.V.
- 14.6.1. Overview,
- 14.6.2. Products & Services,
- 14.6.3. SWOT analysis,
- 14.6.4. Recent Developments,
- 14.6.5. Strategies,
- 14.6.6. Financials (Based on Availability)
- 14.7. Northrop Grumman
- 14.7.1. Overview,
- 14.7.2. Products & Services,
- 14.7.3. SWOT analysis,
- 14.7.4. Recent Developments,
- 14.7.5. Strategies,
- 14.7.6. Financials (Based on Availability)
- 14.8. Rheinmetall AG
- 14.8.1. Overview,
- 14.8.2. Products & Services,
- 14.8.3. SWOT analysis,
- 14.8.4. Recent Developments,
- 14.8.5. Strategies,
- 14.8.6. Financials (Based on Availability)
- 14.9. RAUG Group
- 14.9.1. Overview,
- 14.9.2. Products & Services,
- 14.9.3. SWOT analysis,
- 14.9.4. Recent Developments,
- 14.9.5. Strategies,
- 14.9.6. Financials (Based on Availability)
- 14.10. ST Engineering Ltd.
- 14.10.1. Overview,
- 14.10.2. Products & Services,
- 14.10.3. SWOT analysis,
- 14.10.4. Recent Developments,
- 14.10.5. Strategies,
- 14.10.6. Financials (Based on Availability)
- 14.11. Israel Aerospace Industries Ltd.
- 14.11.1. Overview,
- 14.11.2. Products & Services,
- 14.11.3. SWOT analysis,
- 14.11.4. Recent Developments,
- 14.11.5. Strategies,
- 14.11.6. Financials (Based on Availability)
- 14.12. Thales Group
- 14.12.1. Overview,
- 14.12.2. Products & Services,
- 14.12.3. SWOT analysis,
- 14.12.4. Recent Developments,
- 14.12.5. Strategies,
- 14.12.6. Financials (Based on Availability)
- 14.13. Raytheon Technologies Inc.
- 14.13.1. Overview,
- 14.13.2. Products & Services,
- 14.13.3. SWOT analysis,
- 14.13.4. Recent Developments,
- 14.13.5. Strategies,
- 14.13.6. Financials (Based on Availability)
- 14.14. Leonardo S.p.A
- 14.14.1. Overview,
- 14.14.2. Products & Services,
- 14.14.3. SWOT analysis,
- 14.14.4. Recent Developments,
- 14.14.5. Strategies,
- 14.14.6. Financials (Based on Availability)
- 14.15. Poongson Corporation
- 14.15.1. Overview,
- 14.15.2. Products & Services,
- 14.15.3. SWOT analysis,
- 14.15.4. Recent Developments,
- 14.15.5. Strategies,
- 14.15.6. Financials (Based on Availability)
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