Global 155Mm Ammunition Market Top Major Players 2024, Forecast To 2033
8 Mar, 2024
The 155mm ammunition market hit $3.54 billion in 2023, increasing to $3.66 billion in 2024, with a 3.4% CAGR. Growth factors include precision munitions and modular solutions, projected at $4.25 billion in 2028, driven by guided technologies.
Global 155mm Ammunition Market Key Driver
The 155mm ammunition market is poised for growth due to rising terrorist activities worldwide. Terrorist attacks have increased, necessitating stronger security measures and weaponry. With governments investing in defense capabilities, the demand for 155mm ammunition is expected to rise, driving market growth.
Get A Free Sample Of The Global 155mm Ammunition Market ReportGlobal 155mm Ammunition Market Segments
The 155mm ammunition market covered in this report is segmented –
1) Technology:Guided, Unguided
2) Application:Projectiles, Propellants, Tanks, Other Applications
3) End User:Naval Forces, Ground Forces
By Geography: The countries covered in the 155mm ammunition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the 155mm ammunition market in 2023. 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
Major 155mm Ammunition Industry Players
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; Norma Precision AB; Remington Arms Company LLC; Nammo AS; Denel SOC Ltd.; Nexter Group; Fiocchi Munizioni SPA; Ammo Inc.; RUAG Holding AG; Munitions India Ltd.; Savage Arms; Hornady Manufacturing Company; MSM Group s.r.o.; Federal Premium Ammunition; Winchester Ammunition Inc.; Magtech Ammunition Company Inc.; Poongsan Corporation; JSC Arsenal AD.
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155mm Ammunition Market Overview
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.