Americas Medium and Large Caliber Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Americas Medium and Large Caliber Ammunition - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Americas Medium and Large Caliber Ammunition Market size is estimated at USD 584.79 million in 2024, and is expected to reach USD 698.24 million by 2029, growing at a CAGR of 3.61% during the forecast period (2024-2029).

Key Highlights

• The growth in terrorism, armed conflict with drug cartels and smugglers, overseas deployment in combat affected regions, etc. is prompting the militaries and law enforcement forces in the region to procure new weapons and ammunitions for self-propelled artillery, shoulder fire weapons, gatling cannons, etc., propelling the growth of medium and large caliber ammunition demand in the Americas.
• The development of new airborne cannons and naval Close-In Weapon Systems (CIWS) is expected to fuel the market growth for medium and large caliber ammunition in the region.
• The advancement in technology such as polymer coated ammunition, self-steering ammunition technology, hypersonic projectile, etc. are expected to drive the ammunition market in the region.

Medium And Large Caliber Ammunition Market Trends

Medium Caliber Ammunition Segment To Exhibit The Highest Growth Rate During The Forecast Period

The America region is home to countries such as United States, Brazil, etc. which has some of the highest defense budgets in the world. Countries such as United States and Canada are actively deploying troops in war affected region such as the Middle-East and countries such as Mexico are actively equipping their troops with best military gear and weapons. Military and rebel groups in the combat affected region are rapidly adopting armored vehicles which are resistant to small caliber ammunition. The countries in the region are investing in the development and procurement of remote controlled weapon station, fighter helicopters, fighter aircraft, naval vessels and boats, etc. For instance, Mexico's military expenditure increased by 17% between 2015 and 2019. The aforementioned factors are significantly driving the medium caliber ammunition demand in the region.

United States To Exhibit The Highest Growth Rate

United States is the highest military spender in the world and its sanction military budget for the year 2020 stands at more than USD 730 billion. The United States is heavily investing in the research and development of weapons and advanced technologies for defense assets and this factor is driving the market growth for medium and large caliber ammunition in the country. In March 2020, United States army tested its Extended Range Cannon Artillery System which shot 155 mm guided artillery round to a distance of 65 kilometres. This factor is expected to drive the demand for long range artillery ammunition in the United States. In October 2019, Northrop Grumman unveiled its new XM913 Bushmaster 50 mm chain gun with an extendable range of 4 kilometres for United States Army's next generation combat vehicle. The aforementioned developments and factors are expected to propel the demand for ammunition in the country.

Medium And Large Caliber Ammunition Industry Overview

The Medium And Large Caliber Ammunition market in America region is a moderately consolidated one with players such as General Dynamics Corporation, BAE Systems PLC, CBC, Northrop Grumman Corporation, IMBEL, etc. dominating the market. The key players in the market are expected to enjoy a good growth in terms of revenue owing to the increased demand from both civilian and military segment. Players who are principal suppliers to the defense forces in the region are significantly investing in the research and development of new ammunition equipped with highly advanced technologies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support