Vancouver, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The global large caliber ammunition market size was USD 369 Million in 2020 and is expected to register a CAGR of 2.5% over the forecast period. Increasing demand for defense equipment as a result of rising geopolitical tensions and increasing participation of private industry entities are some key factors driving global large caliber ammunition market revenue growth.
Increasing incidents of domestic and international armed conflicts have prompted several countries to upgrade their military capabilities by purchasing modern ammunition and equipment. Most developing economies around the world, including Russia, China, and India, are currently modernizing their armed forces, and as a result, global defense spending on ammunition procurement and Research & Development (R&D) has increased dramatically in recent years. These countries are extensively spending on military modernization programs to strengthen their surveillance and firepower assets in terms of range, precision, mobility, and lethality, with range and precision being the most important criteria for ammunition procurement. Demand for large caliber ammunition and guns is increasing due to such upgrading operations, and moreover, large caliber ammunition consumption is increasing as a result of growing training expenditure in major and emerging economies.
Different economic, legal, and political frameworks exist in different countries, resulting in different rules for weaponry, ammunition, and other fighting equipment. For public safety, there are strict regulations on manufacture, transfer, and possession of particular ammunition, as well as serialization of ammunition, which aid law enforcement agencies in investigating gun-related crimes. Leading competitors in large caliber ammunition business, including General Dynamics, Rheinmetall AG, and BAE Systems, are affected by these variables. Compliance failures can damage sales, revenue, and profit margins, and may even draw administrative and criminal actions, for which market players are expected to completely comply with the rules and regulations of their home countries as well as those of foreign governments.
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The global large caliber ammunition market size is expected to reach USD 499.48 Million in 2032, at a revenue CAGR of 2.5%. Changing nature of warfare, militarization of police forces, increasing drug trafficking and terrorist activities, and modernization of armed forces are the major factors driving revenue growth of the large caliber ammunition market.
COVID-19 pandemic is expected to have a minor impact on the global large caliber ammunition market. Many countries have decided to reduce their overall defense budgets during the pandemic, especially countries in Latin America and Africa. On the other hand, countries such as the United States, China, and some European countries have increased their planned defense spending during this time. Moreover, procurement delays are expected to be temporary, while drastic fluctuations in demand due to the pandemic are not expected to occur with improvement in the situation and lifting of lockdowns across the world.
Introduction of the M134 GAU-17 "Vulcan" cannon has driven revenue growth of the large caliber ammunition market. M134 GAU-17 "Vulcan" cannon is a six-barreled, air-cooled medium machine gun primarily used by the U.S. military as an aircraft fire suppression weapon. The "Gatling" design powers the barrels with electric motors, allowing for a firing rate of up to 6,000 rounds per minute. It is used in the "door gunner" position in a variety of rotor-wing aircraft, including riverine craft and special operations watercraft used by the U.S. Navy.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2020 | USD 369 Million |
| CAGR (2023–2032) | 2.5% |
| Size forecast to 2032 | USD 499.48 Million |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends. |
| Segments covered | Product type, application, distribution channel, and region. |
| Regional scope | North America; Europe; Asia-Pacific; Latin America; Middle East & Africa. |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA. |
| Key companies profiled | BAE Systems PLC, Diehl Stiftung & Co. KG, Nexter Group, Northrop Grumman Corporation, Rheinmetall AG, RUAG AG, Saab AB, Denel Land Systems, General Dynamics Ordnance and Tactical Systems, Nammo AS. |
| Customization scope | 10 hours of free customization and expert consultation. |
Major Companies and Competitive Landscape
The global large caliber ammunition market is consolidated with few large, small, and medium-sized players accounting for majority revenue share. Established companies are engaged in various research & development activities and initiatives to develop and deploy new and more efficient products in the global large caliber ammunition market. Some prominent players operating in the global market are:
- BAE Systems PLC
- Diehl Stiftung & Co. KG
- Nexter Group
- Northrop Grumman Corporation
- Rheinmetall AG
- RUAG AG
- Saab AB
- Denel Land Systems
- General Dynamics Ordnance and Tactical Systems
- Nammo AS
Strategic Development
In September 2021, the U. S. Marine Corps authorized a USD 27.8 million order to BAE Systems to construct and equip Marine Amphibious Combat Vehicle (ACV) with 30-millimeter cannons to improve amphibious assault. The 30-millimeter gun is capable of taking out enemy light armored vehicles, bunkers, helicopters, and fixed-wing aircraft.
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Some Key Highlights From the Report
- The naval ammunition segment is expected to account for a significantly large revenue share during the forecast period, due to increasing product demand, as naval ammunition is economically viable, aids in shore bombardment during amphibious landings, and provides good capability against surface craft at the close range.
- Naval gun segment revenue is expected to register a significantly steady growth rate during the forecast period. This type of gun has a large number of rounds available, and it has the ability engage close-range targets. The main advantage is that these guns cannot be shot down by the defense systems of enemy vessels. Although electronic jamming, flares, chaff, and other decoys launched by the target can cause missiles to be misled, naval guns can hit a target even in the densest electronic warfare environment, as there is nothing on them that can be jammed. These advantages are driving their deployment and thus, boosting revenue growth of this segment.
- The distributor segment is gaining more popularity, as this distribution channel assists in addressing customer-facing centers stocked with high-quality goods, backed by their guarantee of delivery in the area. Furthermore, necessary warehouse space is available for storage and quick and immediate delivery to nearby customers. It also assists production companies in lowering costs and improving core competencies by taking products and selling them to various retailers. These benefits or advantages are expected to play a major role in revenue growth of this segment.
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Emergen Research has segmented the global large caliber ammunition market on the basis of product type, application, distribution channel, and region:
- Product Type Outlook (Revenue, USD Million; 2019–2032)
- Artillery Ammunition
- Tank Ammunition
- Mortar Ammunition
- Naval Ammunition
- Application (Revenue, USD Million; 2019–2032)
- Rocket-Propelled Grenade
- Tank
- Naval Gun
- Distribution Outlook (Revenue, USD Million; 2019–2032)
- Direct Sales
- Distributor
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of MEA
- North America
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