According to a new market intelligence report titled "Global Large Caliber Ammunition Market - Analysis and Forecast, 2018-2023", the growing demand for ammunition in emerging countries (such as Asia-Pacific, Middle East, and Africa) is likely to increase the opportunities for large caliber ammunition players across military. The global large caliber ammunition market has gained immense importance in military applications for use against terrorist groups and enemy forces. Furthermore, companies are introducing latest technology weapons for the large caliber ammunition market that is gaining importance among defense end users due to various advantages of enhanced lethality. Many defense forces across the world have engaged in contracts with various leading manufacturers for the production of the specific range of large caliber ammunition.
According to the key player, the global large caliber ammunition market was estimated to be approximately $5.11 billion in 2018.
The global large caliber ammunition market is categorized on the basis of caliber type that includes three land-based ammunition such as artillery ammunition (155mm, 120mm, and others), tank ammunition (120mm, 105mm, and others), and mortar ammunition (60mm, 81mm, 120mm, and others) and naval-based ammunition (76mm, 127mm, and 57mm). The 155mm artillery ammunition acquired the largest share in 2018. Moreover, the 105mm artillery ammunition is expected to grow at the highest CAGR of 4.26% during the forecast period 2018-2023.
According to Surabhi Gupta, Research Associate, “North America is one of the most prominent regions for the growth of the global large caliber ammunition market. In 2018, North America dominated the global large caliber ammunition market with the U.S. acquiring the maximum market share, globally. However, the geographical analysis of this market unveils an immense potential for growth in the Asia-Pacific region. China acquired the largest market share and is expected to witness the highest growth rate in this region during the forecast period 2018-2023. Similarly, the European market is also likely to witness numerous growth opportunities during the forecast period 2018-2023.”
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented by caliber types. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 countries.
This report is a meticulous compilation of research on more than 50 players in the large caliber ammunition ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report covers the profile analysis of around 15 companies which includes BAE Systems, Elbit Systems, General Dynamics Ordnance and Tactical Systems, Denel SOC Ltd, Global Ordnance, MAXAMCorp Holding, S.L., Nammo AS, NEXTER Group, Northrop Grumman Corporation, Poongsan Corporation, Rheinmetall Defense, RUAG Group, Saab AB, Singapore Technologies Engineering, and Thales Group, among others.
Key questions answered in the report:
Source: ASDReports - Market Research
Date: Jul 1, 2019