According to a newly published report by Research Nester on“Artillery ammunition Market- Global Demand Analysis and Opportunity Outlook 2027”delivers detailed overview of the global artillery ammunition market in terms of market segmentation by range, by caliber, by type, 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 recent emerging issues across the World has pushed the need to adopt advanced military facilities and equipment. The advancement has been done in every product to empower and strengthen the armies resulting in expansion of the overall military and defense sector. The ammunitions have been in use since 16th century with improvements being done time to time to cater the military demands and secure the national interests. 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, constant government investments and recent developments have resulted in provision of high-tech next generation ammunitions for defense and military purposes.
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The 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], out of which the howitzer segment is anticipated to have leading shares on account of high adoption of these ammunitions in military. The howitzers can provide both direct and indirect fires, need low maintenance, and are highly cost effective. The market is further segmented into small, medium and large on the basis of range, out of which the medium 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. On the basis of caliber, the market is further segmented into small, medium and heavy, out of which, the medium 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.
On the regional basis, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa, out of which 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 most 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.
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Increasing Regional Conflicts and Geopolitical Issues to Boost the Demand for Artillery Ammunitions
The increasing territorial tensions coupled with rise in rate of terrorism is expected increase the product demand during the forecast period. The countries are developing new technologies to strengthen their military for instance, South Korea has been investing heavily in military to develop latest ammunitions.
Recent Developments–The automation in reconnaissance, surveillance, and target acquisition has developed such systems which have integrated computer systems for technical and tactical fire control. Rockwell Collins has developed the system which can provide digital fire solutions which enable the digital calls to be used for indirect fires on mortar, range systems and artilleries.
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 ammunition 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.
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