155mm Ammunition Trends and Forecast
The future of the global 155mm ammunition market looks promising with opportunities in the naval force and ground force markets. The global 155mm ammunition market is expected to grow with a CAGR of 3.6% from 2024 to 2030. The major drivers for this market are expanding cross-border problems between surrounding countries, growing terrorist activity and growing dangers to world security, as well as, greater funding for experiments and research to create longer-range.
• Lucintel forecasts that guided is expected to witness higher growth over the forecast period.
• Within this market, naval forces is expected to witness higher growth.
• APAC will remain the largest region over the forecast period due to growing demand for precision, programmable, next-generation 155mm ammunition and ammo kits owing to growing military budgets.
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Emerging Trends in the 155mm Ammunition Market
New developments in the 155mm ammunition market are leading to improvements in technology and in the strategic capability.
• Smart Munitions: Creation of smart and precision-guided 155 mm shells which increase the accuracy and defeats effectiveness of enemies.
• Long Range Artillery: Developments in the ammunition technology that utilize the longest range of 155 mm artillery to provide wider operational scope.
• New Energy Propellants: Application of new generation propellant materials with the purpose of intensive use of the existing 155 mm ammunition.
• Modular Structures in Ammunition: Inclusion of modular structures that enhance the use of munitions by enabling the munitions to be tailored as required.
• Linkage with Modern Digital Tools: Installation of electronic targeting and guidance systems with 155 mm ammunition increasing its accuracy and reliability.
• Increased Interest on Other Forces: Design of ammunition systems that are compatible to the greatest extent with the interoperability and joint operations with other countries combat forces.
Specific attention has been devoted to strategic orientated developments in the 155mm ammunition market such as precision-guided munitions, long range munitions, new energy propellants, modular systems, digital systems and other capabilities for joint operations with allies arms systems.
Recent Developments in the 155mm Ammunition Market
Recent changes in the 155mm ammunition market are entirely oriented towards technology progress and specific characteristics of strategy-security issue.
• New Munitions: Upgraded introduction of newer generation 155 mm munitions with better range, accuracy and lethality.
• Modernization Programs: Present day military modernization programs which ensure the upgrades, expansion and improvement of artillery systems and ammunition.
• Smart Ammunition Technologies: Smart and precision guided technologies within 155mm artillery rounds.
• International Collaborations: More international defense collaborations and partnerships to improve the performance of the 155mm ammunition.
• Research and Development: Focused funding in R&D necessary to produce new family of 155mm ammunition and its artillery systems.
• Defense Export Growth: Growth of 155 stakes of defense industry aerospace ammunition fine to allied and partner countries.
Within the short period of time that the author has interacted with the 155mm ammunition market, the intelligent munitions market, the modernization structures, smart technologies, international collaborations, R&D investments and expansion of defense exports have all shown a rapidly maturing market which is revolutionizing how artillery can be operated.
Strategic Growth Opportunities for 155mm Ammunition Market
In the 155mm ammunition market, further growth prospects arise from advancement in technology and even defense requirements.
• Technology Integration: Similar opportunities to incorporate other advanced technologies such as precision guidance and digital systems to the 155mm ammunition.
• Emerging Markets: Growth to emerging markets with increasing defense spending and need for modernization.
• Collaboration with Defense Contractors: Strategic alliances with foreign defense contractors with the aim of improving product development and marketability.
• Enhanced R&D: More funding of R&D for the upcoming generation of 155 mm ammunition and artillery systems.
• Participation in the international defense programs with an objective to utilize the worldwide opportunities during joint operations.
• Participation in undertaking modernization strategies to enhance the current artillery systems and ammunitions.
Strategic growth opportunities analyzed for the Global 155mm Ammunition Market include technology, a move in the direction of emerging economies, joint ventures with defense manufacturers, improved R & D, internationalization of the defense programs, and also the enhancement strategies fulfilling the prospects of the markets for the advancement of the artillery systems.
155mm Ammunition Market Driver and Challenges
The 155mm ammunition market is complex and a number of drivers and challenges have an impact on the growth and development of the markets.
The factors responsible for driving the 155mm ammunition market include:
1. Defense Modernization: The growing defense budgets and increases in modernization drives the market for advanced 155mm ammunition.
2. Technologies: Improved ammunition technology from innovations giving more enhanced performance.
3. Geopolitical Tensions: Escalation of regional conflicts and security issues has raised the demand for high tech artillery systems.
4. International Partnerships: Market expansion possibilities through partnerships with other countries or global defense partners.
5. Military Requirements: Due to careful targeting, extended range, and missile precision, the military is increasingly requiring complex strike munitions.
Challenges in the 155mm ammunition market are:
1. High Development Costs: The development and production process of advanced 155mm ammunition involves a financial burden.
2. Regulatory Hurdles: Regulatory issues and complex export control systems.
3. Market Competition: Price competition and market share competition of the manufacturers.
4. Technological Integration: There are issues regarding technological integration with the existing system.
The worldwide 155mm ammunition industry is motivated by defense modernization, new technologies, geostrategic conflicts, intercontinental cooperation and military needs but poses challenges as high development cost, regulatory barriers, competition, technology incorporation and supply chain issues. These factors must be effectively dealt with in order to make further strides in the development and growth of the market.
List of 155mm Ammunition Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies 155mm ammunition companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the 155mm ammunition companies profiled in this report include-
• Raytheon Technologies
• General Dynamics Corporation
• Northrop Grumman Corporation
• BAE Systems
• China North Industries Corporation
• Olin Corporation
• Thales Group
• Rheinmetall
• Elbit Systems
• Remington Arms Company
155mm Ammunition by Segment
The study includes a forecast for the global 155mm ammunition by technology, application, end use, and region.
155mm Ammunition Market by Technology [Analysis by Value from 2018 to 2030]:
• Guided
• Unguided
155mm Ammunition Market by Application [Analysis by Value from 2018 to 2030]:
• Projectiles
• Propellants
• Tanks
• Others
155mm Ammunition Market by End Use [Analysis by Value from 2018 to 2030]:
• Naval Forces
• Ground Forces
155mm Ammunition Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the 155mm Ammunition Market
They are broadening the scope of their activities and consolidating their positions through strategic alliances with other players. Lower content depicts new developments by key players of 155mm ammunition in the following regions: USA, China, India, and Japan.
• USA: RC-155mm ammunition target markets, in the USA, tend to advantage due to military upgrading trends and an increase in the defense spending. The last few recent years, the U.S. Army has taken interest in modernizing the artillery systems of its forces by producing better versions of the 155mm ammunition that can shoot further and with more accuracy. Such is the improvement in gun performance, as driven by the Extended Range Cannon Artillery (ERCA) program, which seeks to enhance both range as well as accuracy of the 155 mm rounds. Moreover, there has been a growing R&D commitment towards adapting smart and guided munitions to the existing artillery systems. The U S is however also deepening defense relationships by sourcing advanced ammunition from friendly countries.
• China: Chinese 155mm ammunition confined only to the broader context of military development is made available to the rest of the market. Newer developments include improving the local actively controlled guns and ammunition which appreciates the range, precision and kill potential. China has also been venturing into the field of smart ammunition technology. Such advancements are vigorously being assimilated into the PLA artillery, aiming to sharpen the country’s strategic edge. Besides, China has been entering into the military market of ammunition supplies, such as 155mm, to leverage its assertiveness in the world military equipment market.
• India: In India, the market of 155mm ammunition is changing because the country is looking to improve its military strength. One of the recent developments includes domestic production of 155mm ammunition in line with the Make in India Policy. The Indian Army is focusing on procuring enhanced 155mm ammunition that is capable of providing new ranges and precision in targeting and is upgrading. There is also an increasing trend of joint efforts with foreign arms manufacturers with the purpose of acquiring new technologies and enhancing the performance of munitions. Moreover, India is also looking to manufacture advanced munitions and artillery systems that secure their country strategically.
• Japan: Strategic defense measures and the regional security environment define the 155mm ammunition market in Japan. Recently, investments have been made to provide further upgrading of the artillery systems and advanced 155mm ammunition technologies have been adopted. Japan seeks to enhance the performance of its artillery rounds by developing longer and more accurate munitions. Japan Ground Self Defense Force(JGSDF) has been adopting these attributes into its military capabilities as part of its defense modernization process. In addition, Japanese defense companies are pursuing collaboration with foreign entities in order to develop better gun systems.
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FAQ
Q1. What is the growth forecast for 155mm ammunition market?
Answer: The global 155mm ammunition market is expected to grow with a CAGR of 3.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the 155mm ammunition market?
Answer: The major drivers for this market are expanding cross-border problems between surrounding countries, growing terrorist activity and growing dangers to world security, as well as, greater funding for experiments and research to create longer-range.
Q3. What are the major segments for 155mm ammunition market?
Answer: The future of the global 155mm ammunition market looks promising with opportunities in the naval force and ground force markets.
Q4. Who are the key 155mm ammunition market companies?
Answer: Some of the key 155mm ammunition companies are as follows:
• Raytheon Technologies
• General Dynamics Corporation
• Northrop Grumman Corporation
• BAE Systems
• China North Industries Corporation
• Olin Corporation
• Thales Group
• Rheinmetall
• Elbit Systems
• Remington Arms Company
Q5. Which 155mm ammunition market segment will be the largest in future?
Answer: Lucintel forecasts that guided is expected to witness higher growth over the forecast period.
Q6. In 155mm ammunition market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to growing demand for precision, programmable, next-generation 155mm ammunition and ammo kits due to growing military budgets.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the 155mm ammunition market by technology (guided and unguided), application (projectiles, propellants, tanks, and others), end use (naval forces and ground forces), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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