Market Size of Asia-Pacific Medium And Large Caliber Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.34 Billion |
| Market Size (2029) | USD 1.69 Billion |
| CAGR (2024 - 2029) | 4.79 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Medium And Large Caliber Ammunition Market Analysis
The Asia-Pacific Medium And Large Caliber Ammunition Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 1.69 billion by 2029, at a CAGR of 4.79% during the forecast period (2024-2029).
Geopolitical conflicts and border tensions among neighboring countries drive regional military expenditures. This surge in military spending leads to investments in new land, air, and sea platforms, subsequently boosting demand in the medium- and large-caliber ammunition markets.
The medium and large caliber ammunition market is poised for growth, primarily fueled by armed forces' procurement and upgrade activities to counter emerging threats. Several contracts are underway for naval vessels, military aircraft, helicopters, infantry fighting vehicles (IFVs), and armored personnel carriers (APCs) equipped with medium caliber turret guns. Furthermore, many new contracts will be awarded during the forecast period, creating a parallel demand for medium-caliber ammunition.
However, challenges such as high procurement costs and concerns like arms trafficking could dampen the market's potential. New technologies, particularly innovative concepts, come with steep costs, making them economically unfeasible without widespread adoption. Emerging technologies like programmable ammunition and loitering munitions hold the promise of radically shifting market dynamics.
Asia-Pacific Medium And Large Caliber Ammunition Industry Segmentation
Medium-caliber ammunition encompasses 40mm, 30mm, 25mm, and 20mm cartridges, including high-explosive (HE), armor-piercing (AP), anti-personnel, and training variants. These cartridges are designed to engage light armor, materials, and personnel targets effectively. Conversely, any ammunition exceeding a caliber of 40mm, such as mortar and artillery rounds, falls under large-caliber ammunition.
The market is segmented by caliber and geography. By caliber, the market is divided into medium caliber and large caliber. The report also covers the market sizes and forecasts for the Asia-Pacific medium and large caliber ammunition market in major countries across the region. For each segment, the market size is provided in terms of value (USD).
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Asia-Pacific Medium And Large Caliber Ammunition Market Size Summary
The Asia-Pacific medium and large caliber ammunition market is poised for growth, driven by increasing military expenditures due to geopolitical conflicts and border tensions in the region. This surge in spending is prompting investments in new military platforms across land, air, and sea, thereby boosting demand for medium and large caliber ammunition. The market is expected to expand as armed forces engage in procurement and upgrade activities to address emerging threats. Despite challenges such as high procurement costs and potential issues like arms trafficking, the market is set to benefit from advancements in technologies like programmable ammunition and loitering munitions. The large caliber segment is anticipated to grow, supported by the procurement of howitzers and artillery, with countries collaborating with major ammunition manufacturers to enhance their indigenous defense capabilities.
China's dominance in the market is expected to continue, fueled by its substantial military spending and investments in advanced armaments. The country's military modernization plans and strategic expansions have led to increased tensions in the region, further driving the demand for ammunition. The market is highly fragmented, with numerous regional players and international companies forming partnerships and expanding their presence. Local players have gained expertise in technology and product design, offering competitive quality at lower prices, which intensifies market competition. Recent developments, such as significant investments in munitions manufacturing facilities and contracts for critical artillery components, underscore the market's growth potential during the forecast period.
Asia-Pacific Medium And Large Caliber Ammunition Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Caliber
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2.1.1 Medium Caliber
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2.1.2 Large Caliber
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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Asia-Pacific Medium And Large Caliber Ammunition Market Size FAQs
How big is the Asia-Pacific Medium And Large Caliber Ammunition Market?
The Asia-Pacific Medium And Large Caliber Ammunition Market size is expected to reach USD 1.34 billion in 2024 and grow at a CAGR of 4.79% to reach USD 1.69 billion by 2029.
What is the current Asia-Pacific Medium And Large Caliber Ammunition Market size?
In 2024, the Asia-Pacific Medium And Large Caliber Ammunition Market size is expected to reach USD 1.34 billion.
