Artillery Ammunition Market: Analysis By Industry Growth, Size, Share, Demand, Trends and Research Report and Forecast: 2022-2031

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Japan, Japan, Thu, 07 Apr 2022 05:22:08 / Comserve Inc. / -- The artillery ammunition market is anticipated to grow at a CAGR of above 1.5% during the forecast period.

The artillery ammunition market is anticipated to grow at a CAGR of above 1.5% during the forecast period.

- The increase in military spending of various countries is supporting the various military initiatives to update military weapons and ammunition, which is expected to generate demand for artillery ammunition.
- Development of new and advanced artillery ammunition by the ammunition manufacturing companies with extended range, increased lethality and integrated sensors to increase accuracy are anticipated to attract the armies of the various countries for their future procurement.

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Key Market Trends

120mm and Above Segment to Experience the Highest Growth During the Forecast Period

120mm and Above segment of the market is expected to grow at the highest CAGR during the forecast period. The growth of the segment is majorly due to the increase in development and procurement of the tank ammunition, howitzer ammunition and artillery projectiles. The development of advanced ammunition with integration of advanced technology will help in increasing the range, increased lethality and accuracy of the artillery ammunition. For instance, Gesellschaft für Intelligente Wirksysteme mbH (GIWS) was awarded a contract by the German Ministry of Defence (MoD) to initiate production of Sensor-fuzed Munition for Artillery 155 mm (SMArt 155). This program was ended in 2006 after final deliveries to Australia and Greece. However, later due to increased demand for the ammunition, the MoD decided to re-introduce the program and the serial production is expected to begin from 2024. With increasing demand, the companies are exploring new payloads to deploy the ammunition on a wider range of target types is fuelling the growth of the segment during the forecast period.

Asia-Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

Asia-Pacific region is expected to generate the highest demand for artillery ammunition during the forecast period. This demand is majorly due to the on-going conflicts between the neighbouring countries. The countries are procuring the artillery and mortar systems to protect their borders, which is generating demand for the artillery and mortar ammunition during the forecast period. India is currently in plans to procure Excalibur guided long- range artillery ammunition from the US under the emergency procurement procedures to deploy them at Line of Control. Also, Hanwha Land Systems, based in South Korea is expected to continue production of K9 Thunder 155 mm/52 calibre self-propelled artillery system and associated K10 Ammunition Resupply Vehicle (ARV) to at least 2021 for domestic and international markets. The country is currently replacing the K55 self-propelled howitzers with K9 Thunder. This generates the need for procurement of artillery ammunition in the region. The development of new artillery systems and ammunition by the countries in the region is expected to boost the growth of artillery ammunition in the region.

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Competitive Landscape

The prominent players in the artillery ammunition market General Dynamics Corporation, Rheinmetall AG, NEXTER Group, Saab AB, and Elbit System Ltd. The companies are currently focusing on enhancing the capabilities of the ammunition to increase their market share. Rheinmetall is one of the major players in the market that is providing artillery ammunition through multiple joint ventures in various regions like Rheinmetall Denel Munition (Rheinmetall 51% and Denel 49%) and Gesellschaft für Intelligente Wirksysteme mbH (GIWS) (Rheinmetall 50% and Diehl Defence 50%). The company is also currently exploring various new enhancements for its mortar and artillery ammunition with two new mortar rounds (enhanced lethality 120 mm round and an extended long-range (EL/R) 81 mm) in the certification stage. Such partnerships and investments in product innovations are expected to support the growth of the companies in the artillery market.

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The post Artillery Ammunition Market: Analysis By Industry Growth, Size, Share, Demand, Trends and Research Report and Forecast: 2022-2031 appeared first on Comserveonline.

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