The Business Research Company’s report on the 155mm Ammunition Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the 155mm ammunition market’s growth in recent years?
Rising terrorist activities around the world is expected to propel the growth of the 155mm ammunition market going forward. Terrorist activity refers to actions carried out by individuals, groups, or organizations to cause fear, panic, and harm to civilians, governments, or societies for political, ideological, religious, or social purposes. Increasing terrorist activities increase the need for better, lethal weapons and stronger forces, where 155mm ammunition can be useful for security forces to combat terrorism and cause the destruction of terrorist sites. For instance, in 2023, according to the Global Terrorism Index by the Institute for Economics & Peace, an Australia-based Think tank, terrorist attacks became more deadly in 2022, killing on average 1.7 people per attack in 2022 compared to 1.3 deaths per attack in 2021. Therefore, rising terrorist activities is driving the growth of the 155 mm ammunition market.
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How does the future projection of the 155mm ammunition market size compare to its historical growth?
The 155mm ammunition market size has grown steadily in recent years. It will grow from $3.58 billion in 2024 to $3.7 billion in 2025 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to military conflicts and wars, modernization and upgrades of artillery systems, geopolitical tensions and security concerns, adoption of precision-guided munitions, evolution of artillery platforms and firing systems, influence of arms race dynamics
The 155mm ammunition market size is expected to see steady growth in the next few years. It will grow to $4.33 billion in 2029 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to integration of smart and guided ammunition technologies, growth in demand for long-range artillery capabilities, adoption of advanced materials in ammunition manufacturing, rise in counter-battery and anti-access capabilities, adoption of modular and customizable ammunition solutions, surge in demand for autonomous and automated artillery systems. Major trends in the forecast period include technological advancements in projectile design, advancements in propellant and explosives technology, technological innovations in fuzing and detonation systems, development of next-generation propellants, 3d printing for custom ammunition components.
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Which key players are shaping the future of the 155mm ammunition market?
Major companies operating in the 155mm ammunition market include Raytheon Technologies Inc., General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems PLC, China North Industries Corporation, Thales Group, Leonardo S.p.A., Olin Corporation, Rheinmetall AG, Elbit Systems Ltd., Saab AB, Nammo AS, Denel SOC Ltd., Nexter Group, Ammo Inc., RUAG Holding AG, Munitions India Ltd., Savage Arms, Hornady Manufacturing Company, MSM Group s.r.o., Winchester Ammunition Inc., Magtech Ammunition Company Inc., Poongsan Corporation, JSC Arsenal AD
What trends will propel the growth and evolution of the 155mm ammunition market?
The development of new propellants is a key trend gaining popularity in the 155mm ammunition market. Major companies in the 155mm ammunition market are introducing innovative propellant designs to sustain their position in the market. For instance, in September 2022, Rheinmetall, a Germany-based arms manufacturer, launched its latest L58 extended-range artillery propellant charge technology. The new technology increases the firing range by 10% as compared to previous artillery propellants previously used by armies and is capable of increasing the entirety of the operational temperature profile, including in ambient scenarios. It was developed by conducting R&D on the L39 and L52 versions of the 155mm extended range charge.
Which regions are expected to become dominant players in the 155mm ammunition market?
Asia-Pacific was the largest region in the 155mm ammunition market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the 155mm ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the 155mm ammunition market, and how are they evolving?
The 155mm ammunition market covered in this report is segmented –
1) By Technology: Guided, Unguided
2) By Application: Projectiles, Propellants, Tanks, Other Applications
3) By End User: Naval Forces, Ground Forces
Subsegments:
1) By Guided: GPS-Guided Shells, Laser-Guided Munitions, Inertial Navigation Guided Shells
2) By Unguided: High-Explosive (HE) Shells, Smoke Shells, Illumination Shells, Training Rounds
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What defines the structure and scope of the 155mm ammunition market?
155mm ammunition refers to large-sized ammunition that is used in howitzer systems and is packed with explosive material to pierce armor. It is a widely used caliber for artillery systems in many countries for warfare in different terrains to strike targets at greater distances and cause massive damage to the target.
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