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Add to CartGlobal Artillery Ammunition Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Caliber;
Below 120 mm and 120 mm, and Above.By Type;
High-Explosive Shells, Smoke Shells, Illumination Shells, and Guided Munitions.By Fuze Type;
Time Fuze, Impact Fuze, Proximity Fuze, and Electronic Fuze.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Artillery Ammunition Market (USD Million), 2021 - 2031
In the year 2024, the Global Artillery Ammunition Market was valued at USD 2,501.30 million. The size of this market is expected to increase to USD 2,892.99 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 2.1%.
The Global Artillery Ammunition Market is a crucial segment of the defense industry, driven by increasing military expenditures, geopolitical tensions, and advancements in modern warfare technologies. Artillery ammunition includes a wide range of projectiles such as high-explosive (HE) shells, guided and unguided rockets, cluster munitions, and armor-piercing rounds used in various artillery systems. These munitions play a vital role in land-based combat, providing fire support for military operations, suppressing enemy positions, and enhancing battlefield dominance. With the growing need for long-range precision strikes, nations are investing in the development and procurement of advanced artillery ammunition to strengthen their defense capabilities.
The market is experiencing steady growth due to rising defense budgets, particularly in countries engaged in border conflicts and counter-terrorism operations. The increasing adoption of smart artillery ammunition, which includes GPS-guided and laser-guided projectiles, is revolutionizing modern artillery systems by improving accuracy and reducing collateral damage. Additionally, many defense organizations are focusing on indigenous manufacturing and strategic partnerships to enhance self-reliance in ammunition production. Emerging economies in Asia-Pacific, the Middle East, and Eastern Europe are significantly contributing to the market expansion by modernizing their armed forces and acquiring advanced artillery systems.
Technological advancements are a key driving force in the artillery ammunition market, with innovations such as extended-range precision-guided munitions, autonomous targeting systems, and enhanced lethality warheads. The development of next-generation artillery shells capable of hitting targets with greater accuracy at extended distances is reshaping military strategies. Additionally, the integration of artificial intelligence (AI) and data analytics in artillery systems is further enhancing operational effectiveness. However, stringent regulations on the use of certain types of munitions, along with the growing concerns over environmental impact and unexploded ordnance, pose challenges to the market’s expansion.
Despite these challenges, the demand for artillery ammunition remains strong due to ongoing regional conflicts, military modernization programs, and the need for enhanced firepower in asymmetric warfare. The market is expected to witness increased investments in research and development (R&D) to create more efficient, cost-effective, and environmentally friendly ammunition. Furthermore, the rise of private defense contractors and the expansion of international defense collaborations are likely to accelerate market growth. As global security threats evolve, the artillery ammunition market will continue to adapt, ensuring that armed forces worldwide are equipped with cutting-edge firepower to meet future combat demands.
Global Artillery Ammunition Market Recent Developments
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In April 2023, BAE Systems showcased new 155mm artillery rounds for the British Army's Mobile Fires Platform and Lightweight Fires Platform.
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In February 2023, India became the main hub for advanced 155mm artillery ammunition, supplying over 75 armies worldwide. The Ministry of Defense selected five domestic manufacturers to produce 2,000 155mm terminally guided munitions (TGMs) for existing 155mm guns, marking a major advancement in artillery tech.
Segment Analysis
The Global Artillery Ammunition Market is segmented by caliber into two major categories: below 120 mm and 120 mm and above. The below 120 mm category typically includes mortar rounds and light artillery shells, primarily used for short-range engagements and tactical support. In contrast, the 120 mm and above segment encompasses larger artillery rounds, including those for howitzers and self-propelled guns, which are widely used for long-range firepower in modern warfare. The demand for larger caliber ammunition is driven by military modernization programs and increasing defense budgets, particularly in countries emphasizing advanced artillery systems.
Based on type, the market is categorized into high-explosive shells, smoke shells, illumination shells, and guided munitions. High-explosive shells dominate the market due to their widespread application in both offensive and defensive operations, providing significant destructive capability. Smoke shells are used for battlefield concealment and signaling, while illumination shells enhance visibility in low-light conditions. The growing importance of precision warfare has also fueled demand for guided munitions, which utilize advanced targeting systems to improve accuracy and reduce collateral damage.
The segmentation by fuze type includes time fuze, impact fuze, proximity fuze, and electronic fuze. Impact fuzes are the most common, detonating upon direct contact with the target, whereas time fuzes are programmed to explode after a set duration, often used in airburst artillery. Proximity fuzes, which detonate when near a target, are particularly effective against aerial threats and infantry formations. The rise of smart artillery and digital warfare has also led to increased adoption of electronic fuzes, which offer programmable detonation capabilities for enhanced tactical flexibility.
Geographically, the market spans North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America remains a leading market due to strong defense spending, particularly by the U.S. military. Europe follows closely, with NATO countries investing in advanced artillery systems in response to evolving security threats. The Asia Pacific region is experiencing rapid growth, driven by territorial disputes and rising military expenditures in countries such as China and India. The Middle East and Africa market is bolstered by ongoing regional conflicts and military procurement programs, while Latin America sees steady demand for artillery ammunition, primarily for border security and counterinsurgency operations.
Global Artillery Ammunition Segment Analysis
In this report, the Global Artillery Ammunition Market has been segmented by Caliber, Type, Fuze Type and Geography.
Global Artillery Ammunition Market, Segmentation by Caliber
The Global Artillery Ammunition Market has been segmented by Caliber into Below 120 mm and 120 mm and Above.
The anticipated growth of the 120 mm and above segment in the artillery ammunition market is underpinned by various factors. One significant driver is the escalating defense expenditures across several nations, combined with a pressing need for more sophisticated artillery ammunition to fortify defense capabilities. Moreover, the global push to enhance defense readiness further propels the demand for advanced artillery munitions, accentuating the importance of technological integration to extend range, increase lethality, and improve accuracy in this segment.
Major market players are actively investing in research and development endeavors aimed at advancing artillery ammunition within the 120 mm and above category. For instance, Switzerland's recent procurement plans for additional 120 mm mortar systems, alongside Ukraine's collaborative efforts in artillery shell production, signify the sector's trajectory towards innovation and expansion. Additionally, initiatives like Ukroboronprom's production of 120-mm mortar rounds in Ukraine amid geopolitical tensions underscore the dynamic nature of the segment. These concerted efforts in research, development, and manufacturing are expected to drive substantial growth in the 120 mm and above segment of the artillery ammunition market in the foreseeable future.
Global Artillery Ammunition Market, Segmentation by Type
The Global Artillery Ammunition Market has been segmented by Type into High-Explosive Shells, Smoke Shells, Illumination Shells, and Guided Munitions.
The Global Artillery Ammunition Market is segmented by type into High-Explosive Shells, Smoke Shells, Illumination Shells, and Guided Munitions, each serving distinct battlefield roles. High-Explosive (HE) Shells are the most widely used artillery rounds, designed to cause maximum destruction through blast and fragmentation effects. These shells are critical for both offensive and defensive operations, targeting enemy positions, fortifications, and armored vehicles. Their widespread adoption is driven by ongoing military modernization programs and increasing defense budgets globally.
Smoke Shells play a crucial role in battlefield tactics by providing cover and obscuring enemy vision. These shells are used to create smoke screens, which help in troop movements, concealment, and disrupting enemy targeting systems. In addition, they can be utilized for signaling and marking purposes in complex combat scenarios. With the rise of urban warfare and precision targeting, the demand for advanced smoke shells with extended duration and reduced visibility to infrared detection is expected to grow.
Illumination Shells and Guided Munitions offer specialized capabilities in modern artillery warfare. Illumination Shells are used for night operations, enhancing battlefield visibility for reconnaissance, targeting, and search-and-rescue missions. Their importance is increasing with the growing emphasis on 24/7 military operations. Guided Munitions, on the other hand, represent a significant advancement in artillery technology, offering enhanced accuracy and reduced collateral damage. These precision-guided shells use GPS or laser guidance systems to strike targets with high efficiency, making them essential for modern militaries focused on precision strikes and minimizing civilian casualties.
Global Artillery Ammunition Market, Segmentation by Fuze Type
The Global Artillery Ammunition Market has been segmented by Fuze Type into Time Fuze, Impact Fuze, Proximity Fuze, and Electronic Fuze.
The Global Artillery Ammunition Market is segmented by fuze type into Time Fuze, Impact Fuze, Proximity Fuze, and Electronic Fuze, each playing a critical role in modern artillery operations. Time Fuzes are designed to detonate at a pre-set time after being fired, making them highly effective for airbursts and area suppression. These fuzes are commonly used in anti-personnel and anti-material applications, where precise timing can maximize effectiveness against enemy positions. Their flexibility in controlling detonation timing allows for strategic battlefield advantage.
Impact Fuzes, on the other hand, detonate upon contact with a target or surface, ensuring direct and immediate destruction. These fuzes are widely utilized in high-explosive (HE) shells, bunker-busting munitions, and armor-piercing rounds, making them ideal for targeting enemy fortifications, vehicles, and structures. Proximity Fuzes enhance operational effectiveness by detonating when they sense an object nearby, rather than requiring direct contact. This feature is particularly useful in anti-aircraft, anti-personnel, and counter-artillery roles, where detonation in the air can increase the radius of damage and neutralize threats more efficiently.
Lastly, Electronic Fuzes represent the most advanced category, incorporating digital technologies to provide programmable detonation capabilities. These fuzes allow for greater precision, adaptability, and integration with modern fire control systems. Electronic fuzes are often used in smart munitions, enabling multiple modes of detonation based on mission requirements. As military forces increasingly prioritize accuracy and efficiency, electronic fuzes are expected to witness growing demand, further driving innovation in artillery ammunition technology.
Global Artillery Ammunition Market, Segmentation by Geography
In this report, the Global Artillery Ammunition Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Artillery Ammunition Market Share (%), by Geographical Region, 2024
Asia-Pacific is poised to exhibit remarkable growth in the artillery ammunition market during the forecast period, driven by several key factors. The region has witnessed a surge in border conflicts, prompting countries to bolster their defense capabilities through increased defense expenditures and the adoption of advanced artillery ammunition. As nations in the Asia-Pacific region prioritize border protection, the demand for sophisticated artillery munitions is expected to escalate significantly in the coming years.
Ongoing border conflicts have spurred the adoption of advanced artillery ammunition across various countries in the Asia-Pacific region. This heightened demand is further fueled by initiatives such as India's procurement of Excalibur-guided long-range artillery ammunition from the United States for deployment at the Line of Control. Additionally, South Korea's Hanwha Land Systems continues production of the K9 Thunder 155 mm/52 caliber self-propelled artillery system and associated K10 Ammunition Resupply Vehicle (ARV), contributing to the regional market's growth.
China's efforts to enhance artillery capabilities through technological advancements, such as artificial intelligence (AI) integration for improved accuracy in artillery attacks, underscore the region's commitment to modernizing defense capabilities. China's plans to test 203-millimeter artillery cannons signify a significant development in artillery technology. Overall, the increasing focus on the development of new-generation artillery ammunition by key players in the Asia-Pacific region is expected to drive substantial growth in the market during the forecast period.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Artillery Ammunition Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities
Drivers:
- Increasing Defense Expenditures
- Global Security Threats
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Military Modernization Initiatives- Military modernization initiatives play a pivotal role in shaping the artillery ammunition market. As governments prioritize upgrading their military equipment and weapons systems, there is a growing emphasis on procuring advanced artillery ammunition. This trend stems from the need to replace outdated munitions with more technologically advanced and versatile options that enhance operational effectiveness on the battlefield. Consequently, the demand for modern artillery ammunition is witnessing a significant surge, driven by military modernization programs worldwide.
Governments' investments in military modernization programs are fueling the adoption of advanced artillery ammunition. These investments are directed towards acquiring ammunition with enhanced capabilities, including improved accuracy, range, and lethality. By replacing obsolete munitions with more versatile options, defense forces can better address evolving security challenges and maintain strategic superiority. As a result, the artillery ammunition market is experiencing robust growth, driven by the increasing procurement of technologically advanced munitions as part of military modernization initiatives.
Restraints:
- Regulatory Challenges
- Supply Chain Vulnerabilities
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Technological Complexity- The development of advanced artillery ammunition is a complex and resource-intensive endeavor that demands substantial investments in research and development (R&D) and technological expertise. Manufacturers must allocate significant resources to explore innovative solutions aimed at enhancing the range, precision, and lethality of artillery projectiles. Integrating sophisticated sensor systems, propulsion mechanisms, and guidance technologies into ammunition designs presents formidable challenges, requiring meticulous attention to detail to ensure reliability and safety in operation.
Furthermore, the rapid pace of technological innovation adds another layer of complexity to the development process. Manufacturers must stay abreast of emerging technologies and trends to remain competitive in the market. Continuous upgrades and investments are essential to keep pace with evolving requirements and maintain alignment with the latest advancements in the field. This perpetual cycle of innovation places strains on resources and operational capabilities, necessitating a strategic approach to R&D and investment planning to navigate the challenges effectively.
Opportunities:
- Global Demand
- Strategic Partnerships
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Customization and Specialization- Tailoring ammunition solutions to meet specific military requirements involves a multifaceted approach, encompassing customization of designs to ensure compatibility with diverse artillery platforms and to address varying mission objectives. This can be achieved through the incorporation of features such as precision guidance systems, adjustable payloads, and optimized ballistic characteristics.
Specialized solutions offer manufacturers a means to differentiate themselves in the market by catering to niche segments with unique needs. For instance, ammunition crafted for urban warfare may prioritize accuracy and the mitigation of collateral damage, whereas solutions tailored for long-range engagements may emphasize extended range and penetrating power.Furthermore, customization facilitates the establishment of strategic partnerships with military units, allowing for the provision of tailored solutions that enhance operational effectiveness. These partnerships not only foster long-term relationships but also pave the way for repeat business and opportunities for further collaboration on future projects.
In essence, the capacity to customize artillery ammunition not only meets the specific demands of military forces but also unlocks doors to lucrative niche markets and specialized applications, thereby stimulating innovation and fostering growth within the industry.
Competitive Landscape Analysis
Key players in Global Artillery Ammunition Market include:
- General Dynamics Corporation
- Rheinmetall AG
- BAE Systems PLC
- NEXTER Group
- Saab AB
- Nammo AS
- MESKO SA
- MAXAM
- Thales Group
- Indian Ordnance Factories
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Caliber
- Market Snapshot, By Type
- Market Snapshot, By Fuze Type
- Market Snapshot, By Region
- Global Artillery Ammunition Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Defense Expenditures
- Global Security Threats
- Military Modernization Initiatives
- Restraints
- Regulatory Challenges
- Supply Chain Vulnerabilities
- Technological Complexity
- Opportunities
- Global Demand
- Strategic Partnerships
- Customization and Specialization
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Artillery Ammunition Market, By Caliber, 2021 - 2031 (USD Million)
- Below 120 mm
- 120 mm and Above
- Global Artillery Ammunition Market, By Type, 2021 - 2031 (USD Million)
- High-Explosive Shells
- Smoke Shells
- Illumination Shells
- Guided Munitions
- Global Artillery Ammunition Market, By Fuze Type, 2021 - 2031 (USD Million)
- Time Fuze
- Impact Fuze
- Proximity Fuze
- Electronic Fuze
- Global Artillery Ammunition Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Artillery Ammunition Market, By Caliber, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- General Dynamics Corporation
- Rheinmetall AG
- BAE Systems PLC
- NEXTER Group
- Saab AB
- Nammo AS
- MESKO SA
- MAXAM
- Thales Group
- Indian Ordnance Factories
- Company Profiles
- Analyst Views
- Future Outlook of the Market