According to a recently published report by Research Nester on “Artillery Ammunition Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global artillery ammunitions market in terms of market segmentation by type, by range, by caliber, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global artillery ammunition market is segmented by type, range, caliber and application. On the basis of type, the market is segmented into howitzer [self-propelled, towed], mortar [self-propelled, towed], anti-air [air defense gun, counter rocket artillery and mortar (CRAM)] and others [naval, coastal]. On the basis of range, the market is segmented into short, medium and long. On the basis of caliber, the market is segmented into small, medium and heavy. On the basis of application, the market is segmented into fighting and national defense.
The global artillery ammunition market is anticipated to record a CAGR of around 5% over the forecast period i.e. 2019-2027 owing to increased demand for better military facilities against terrorism, increasing geopolitical issues and regional conflicts and warfare. The technical up gradations, heavy government investments and constant developments have resulted in provision of high tech next generation ammunitions for defense and military purposes. The howitzer segment is anticipated to have leading shares on account of high adoption of these ammunitions in military. The howitzers are capable of providing both direct and indirect fires, need low maintenance, and are highly cost effective. The medium caliber segment is anticipated to have leading market shares on the account of their increasing demand for various applications, the ammunitions are available in wide spectrum so as to cater the required demand. Furthermore, the medium range segment is anticipated to witness significant growth on the back of their high ballistic properties to carry out operations efficiently. The reduced maintenance, better projectiles and trajectory, improved tracer visibility and elimination of contamination of environment are expected to boost the market growth.
Geographically, North America is anticipated to have leading shares during the forecast period on the back of huge government investments in military and defense sector coupled with presence of major key players in the region. Europe is expected to witness significant growth owing to the recent events that has taken place in the continent. The attacks have forced the countries to adopt for better defense strategies to tackle the threats. Asia–Pacific is anticipated to witness significant growth on the back of increasing terrorist activities in the region coupled with rising territorial conflicts between the countries. India is expected to contribute significantly in the market with increasing investments in modernizing the military facilities. The investments made by the countries for instance, China, South Korea and Japan in defense to develop high end military facilities is anticipated to boost the market growth.
The increasing regional conflicts, territorial issues and rising terrorism rate has expanded the need to adopt measures that protect the national interests and public. The countries are developing new technologies to strengthen their military force for instance, South Korea has been investing heavily in military to develop latest ammunitions. Additionally, the recent developments for instance, automation in reconnaissance, surveillance, and target acquisition and Rockwell Collins developed system which is capable of providing digital fire solutions are expected to drive the market growth. However, high cost associated with these ammunitions making them unaffordable for low economic countries owing to limited military budgets are expected to operate as a key restraint to the growth of artillery ammunition market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global artillery ammunitions market which includes company profiling of General Dynamics Corporation, BAE Systems, Alliant Techsystems, RUAG Group, Nammo AS, Rheinmetall Defense, Hanwha Techwin, NEXTER Group and Israel Military Industries. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global artillery ammunitions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.