Artillery Ammunition Market

Detailed research report on the artillery ammunition market, featuring market analysis, size, and forecast from 2025 to 2030.

The Artillery Ammunition Market Report is Segmented by Caliber (Below 120mm and 120mm & Above) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Artillery Ammunition Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Artillery Ammunition Market Size

Artillery Ammunition Market Summary
Study Period 2024 - 2030
Market Size (2025) USD 4.65 Billion
Market Size (2030) USD 5.92 Billion
CAGR (2025 - 2030) 4.95 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Artillery Ammunition Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Artillery Ammunition Market Analysis

The Artillery Ammunition Market size is estimated at USD 4.65 billion in 2025, and is expected to reach USD 5.92 billion by 2030, at a CAGR of 4.95% during the forecast period (2025-2030).

The global artillery ammunition landscape is experiencing significant transformation amid evolving geopolitical dynamics and military modernization initiatives. According to the Stockholm International Peace Research Institute, global military expenditure reached unprecedented levels in 2022, with the United States leading at USD 877 billion, followed by China at USD 292 billion and Russia at USD 86.4 billion. This surge in defense spending has catalyzed extensive modernization of artillery systems worldwide, with nations focusing on developing and acquiring advanced ammunition systems with enhanced range, precision, and lethality capabilities.


The industry is witnessing a substantial shift toward increased production capacity and technological advancement in ammunition manufacturing. In October 2023, the United States awarded contracts worth USD 1.5 billion to nine companies across the United States, Canada, India, and Poland to boost global production of 155 mm artillery shells. The initiative aims to achieve an international production goal of 80,000 monthly projectiles by the fourth quarter of fiscal 2025, representing a significant scaling up of manufacturing capabilities to meet growing global demand.


International cooperation and strategic partnerships have become increasingly prevalent in the artillery ammunition sector. In August 2023, Diehl Defence/Nammo AS secured a framework agreement with the Federal Office of Bundeswehr Equipment for the long-term supply of high-performance 155 mm artillery shells to German defense forces. Similarly, seven European Union member states have placed orders through the European Defense Agency's fast-track joint procurement scheme, demonstrating a coordinated approach to ammunition acquisition and production.


Technological innovation is driving the evolution of artillery ammunition, with manufacturers focusing on developing advanced guidance systems and extended-range capabilities. In August 2023, Israel announced a USD 60 million procurement of 155 mm artillery shells from Elbit Systems Ltd, emphasizing the growing demand for sophisticated ammunition solutions. The industry is witnessing a transition toward precision-guided munitions, with companies like Northrop Grumman surpassing production milestones of precision guidance kits for artillery projectiles, enabling enhanced accuracy and reduced collateral damage in modern warfare scenarios. The focus on precision-guided munitions is indicative of a broader trend towards minimizing collateral damage and increasing the effectiveness of military ordnance.

Artillery Ammunition Market Geography Segment Analysis

155 MM Ammunition Market in North America

The North American 155 MM ammunition market maintains a dominant position globally, commanding approximately 25% of the market share in 2024. This significant market presence is primarily driven by the United States' substantial defense budget and ongoing military modernization initiatives. The region's market dynamics are characterized by extensive research and development activities in advanced artillery systems, particularly focusing on precision-guided munitions and extended-range capabilities. The United States' commitment to increasing its ammunition production capacity, coupled with strategic partnerships with international manufacturers, has strengthened the regional market's foundation. The presence of major defense contractors and their robust manufacturing capabilities has enabled consistent innovation in ammunition technology. Furthermore, the region's emphasis on maintaining strategic stockpiles and supporting allied nations has created a stable demand environment. The market also benefits from strong government support for domestic ammunition production and ongoing efforts to enhance manufacturing efficiency through advanced manufacturing techniques.

Market Analysis of Artillery Ammunition Market: Forecasted Growth Rate by Region

155 MM Ammunition Market in Europe

The European 155 MM ammunition market has demonstrated remarkable growth, expanding by approximately 27% during the period 2019-2024. The market's evolution is characterized by increased defense cooperation among European Union member states and significant investments in artillery systems modernization programs. European manufacturers have established themselves as global leaders in producing advanced artillery ammunition, with a particular focus on developing sophisticated precision-guided munitions. The region's market is distinguished by strong cross-border collaboration in research and development, leading to technological innovations in ammunition design and manufacturing. European countries have also prioritized the enhancement of domestic production capabilities, implementing various initiatives to strengthen the regional supply chain. The market benefits from coordinated procurement programs among NATO members, fostering standardization and interoperability. Additionally, the presence of established defense manufacturers and their extensive experience in developing advanced ammunition systems has reinforced Europe's position as a key player in the global market.

155 MM Ammunition Market in Asia-Pacific

The Asia-Pacific 155 MM ammunition market is poised for substantial growth, with projections indicating an expansion of approximately 16% from 2024 to 2029. The region's market is characterized by increasing defense modernization initiatives and growing domestic manufacturing capabilities. Countries across the Asia-Pacific region are actively investing in advanced artillery systems and associated ammunition, driven by evolving security dynamics and the need for enhanced military capabilities. The market landscape is marked by significant developments in indigenous production capabilities, particularly in countries like India, South Korea, and Japan. Strategic partnerships between regional manufacturers and international defense companies have facilitated technology transfer and local manufacturing expertise. The region's market is also witnessing increased focus on developing precision-guided ammunition and extended-range artillery projectiles. Furthermore, the emphasis on self-reliance in defense manufacturing has led to the establishment of new production facilities and the enhancement of existing capabilities.

155 MM Ammunition Market in Latin America

The Latin American 155 MM ammunition market is experiencing steady development, driven by military modernization programs and efforts to enhance domestic production capabilities. The region's market is characterized by an increasing focus on improving artillery capabilities and developing indigenous manufacturing expertise. Countries in the region are actively pursuing partnerships with international manufacturers to establish local production facilities and enhance technical capabilities. The market dynamics are influenced by regional security requirements and the need to maintain modern artillery systems. Latin American nations are increasingly investing in advanced ammunition technologies, particularly in precision-guided systems. The development of local manufacturing capabilities has become a priority for major regional players, aiming to reduce dependence on imports. Additionally, strategic partnerships with global ammunition manufacturers have facilitated technology transfer and skill development in the region.

155 MM Ammunition Market in Middle East & Africa

The Middle East & Africa 155 MM ammunition market demonstrates strong growth potential, driven by ongoing regional security challenges and military modernization initiatives. The market is characterized by significant investments in advanced artillery systems and ammunition capabilities across multiple countries. Regional defense forces are increasingly focusing on acquiring modern artillery systems and associated ammunition to enhance their operational capabilities. The market benefits from strong relationships with international manufacturers and a growing emphasis on developing local production capabilities. Countries in the region are actively pursuing partnerships to establish domestic manufacturing facilities and enhance technical expertise. The market is also witnessing increased interest in precision-guided ammunition and extended-range artillery projectiles. Furthermore, the emphasis on military modernization and self-reliance has led to the development of regional manufacturing capabilities and strategic partnerships with global ammunition manufacturers.

Artillery Ammunition Industry Overview

Top Companies in Artillery Ammunition Market

The artillery ammunition market features prominent players like BAE Systems, Northrop Grumman, Rheinmetall AG, and KNDS NV leading the competitive landscape. These companies are increasingly focusing on developing advanced guided ammunition technologies, particularly in GPS-enabled and precision-guided munitions capabilities, to meet evolving battlefield requirements. Strategic partnerships and collaborations with defense organizations have become crucial for maintaining market position and securing long-term contracts. Companies are expanding their manufacturing capabilities across multiple regions to ensure supply chain resilience and meet growing demand. Research and development investments are primarily directed towards improving the accuracy, range, and effectiveness of 155mm ammunition, while also addressing environmental concerns through sustainable manufacturing processes. The industry is witnessing a shift towards modular charge systems and smart artillery shells solutions, reflecting the broader trend of defense modernization programs worldwide.

Consolidated Market with High Entry Barriers

The artillery ammunition market is characterized by a high degree of consolidation, dominated by established defense contractors with significant technological expertise and manufacturing capabilities. These major players typically operate as part of larger defense conglomerates, leveraging their extensive resources, established relationships with military organizations, and comprehensive research and development infrastructure. The market exhibits strong regional preferences, with companies often maintaining close ties to their domestic defense forces while pursuing international expansion through strategic partnerships and local manufacturing facilities.


The industry's high entry barriers stem from stringent regulatory requirements, substantial capital investments, and the need for specialized technical expertise. Mergers and acquisitions activity is primarily focused on expanding technological capabilities and geographic reach, with larger companies acquiring specialized ammunition manufacturers to enhance their product portfolios. The market structure favors incumbents who have demonstrated track records in quality, reliability, and compliance with military specifications, making it challenging for new entrants to establish a significant presence without strategic partnerships or government support.

Innovation and Adaptability Drive Market Success

Success in the artillery ammunition market increasingly depends on companies' ability to innovate while maintaining cost competitiveness and operational efficiency. Incumbent players must focus on developing next-generation ammunition technologies, particularly in guided systems and smart artillery shells, while optimizing their production processes to maintain competitive pricing. Building strong relationships with defense procurement agencies and maintaining high-quality standards are crucial for securing long-term contracts and maintaining market share. Companies must also demonstrate flexibility in adapting to changing military requirements and geopolitical situations.


The market's future trajectory is significantly influenced by end-user concentration in government defense agencies, creating a complex dynamic where political relationships and national security considerations play crucial roles. Companies must navigate potential regulatory changes, particularly regarding environmental impact and safety standards, while maintaining their competitive edge. The threat of substitution from alternative weapon systems and emerging technologies necessitates continuous innovation and adaptation of product offerings. Success for contenders lies in identifying niche market segments, developing specialized capabilities, and establishing strategic partnerships with established players or government agencies to gain market entry and build credibility. Additionally, advancements in artillery fuze technology and artillery ordnance are pivotal for staying ahead in this competitive landscape.

Artillery Ammunition Market Leaders

  1. Rheinmetall AG

  2. Saab AB

  3. THALES

  4. General Dynamics Corporation

  5. BAE Systems plc

  6. *Disclaimer: Major Players sorted in no particular order
Artillery Ammunition Market Concentration
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Artillery Ammunition Market News

  • July 2024: In collaboration with Nammo AS, Diehl Defense was contracted to supply 155mm artillery projectiles to the German Armed Forces and their allied partners. This contract underscores the strategic partnership between the companies and highlights their capabilities in providing advanced munitions suitable for modern artillery systems.
  • June 2024: ST Engineering has secured contracts exceeding USD 100 million to provide NATO-standard 155mm ammunition to European nations.
  • June 2024: KNDS France secured a contract from the French procurement agency Direction générale de l'armement (DGA) to aid in the development of the KATANA high-precision guided ammunition. Set to be available for purchase within the next two years, this 155mm ammunition boasts cutting-edge guidance technology, ensuring pinpoint accuracy within a few meters.

Artillery Ammunition Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Buyers/Consumers
    • 4.4.2 Bargaining Power of Suppliers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Caliber
    • 5.1.1 Below 120mm
    • 5.1.2 120mm & Above
  • 5.2 Geography
    • 5.2.1 North America
    • 5.2.1.1 United States
    • 5.2.1.2 Canada
    • 5.2.2 Europe
    • 5.2.2.1 United Kingdom
    • 5.2.2.2 France
    • 5.2.2.3 Germany
    • 5.2.2.4 Rest of Europe
    • 5.2.3 Asia-Pacific
    • 5.2.3.1 China
    • 5.2.3.2 Japan
    • 5.2.3.3 India
    • 5.2.3.4 South Korea
    • 5.2.3.5 Rest of Asia-Pacific
    • 5.2.4 Latin America
    • 5.2.4.1 Brazil
    • 5.2.4.2 Mexico
    • 5.2.4.3 Rest of Latin America
    • 5.2.5 Middle East and Africa
    • 5.2.5.1 United Arab Emirates
    • 5.2.5.2 Saudi Arabia
    • 5.2.5.3 South Africa
    • 5.2.5.4 Israel
    • 5.2.5.5 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 General Dynamics Corporation
    • 6.2.2 Rheinmetall AG
    • 6.2.3 BAE Systems plc
    • 6.2.4 Saab AB
    • 6.2.5 Nammo AS
    • 6.2.6 MESKO S.A.
    • 6.2.7 THALES
    • 6.2.8 The Indian Ordnance Factories
    • 6.2.9 Singapore Technologies Engineering Ltd.
    • 6.2.10 MSM Group
    • 6.2.11 Elbit Systems Ltd.
    • 6.2.12 KNDS N.V.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Artillery Ammunition Industry Segmentation

Artillery ammunition refers to the type of ammunition that is designed to be fired from artillery canons which have an effect over long distances. There are many different types of artillery ammunition, but these ammunition are usually high-explosive and designed to shatter into fragments on impact to maximize damage. Common types of artillery ammunition include high explosives, smoke, illumination, and practice rounds. Some artillery rounds are designed as cluster munitions.

The artillery ammunition market is segmented based on caliber and geography. By caliber, the market is segmented into below 120mm and 120mm and above. The report also covers the market sizes and forecasts for the artillery ammunition market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Caliber Below 120mm
120mm & Above
Geography North America United States
Canada
Europe United Kingdom
France
Germany
Rest of Europe
Asia-Pacific China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America Brazil
Mexico
Rest of Latin America
Middle East and Africa United Arab Emirates
Saudi Arabia
South Africa
Israel
Rest of Middle East and Africa
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Artillery Ammunition Market Research FAQs

How big is the Artillery Ammunition Market?

The Artillery Ammunition Market size is expected to reach USD 4.65 billion in 2025 and grow at a CAGR of 4.95% to reach USD 5.92 billion by 2030.

What is the current Artillery Ammunition Market size?

In 2025, the Artillery Ammunition Market size is expected to reach USD 4.65 billion.

Who are the key players in Artillery Ammunition Market?

Rheinmetall AG, Saab AB, THALES, General Dynamics Corporation and BAE Systems plc are the major companies operating in the Artillery Ammunition Market.

Which is the fastest growing region in Artillery Ammunition Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Artillery Ammunition Market?

In 2025, the North America accounts for the largest market share in Artillery Ammunition Market.

What years does this Artillery Ammunition Market cover, and what was the market size in 2024?

In 2024, the Artillery Ammunition Market size was estimated at USD 4.42 billion. The report covers the Artillery Ammunition Market historical market size for years: 2024. The report also forecasts the Artillery Ammunition Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Artillery Ammunition Market Research

Mordor Intelligence provides a comprehensive analysis of the artillery ammunition sector. With decades of expertise in military ordnance and defense ammunition research, we cover the complete spectrum of field artillery technologies. This includes artillery systems and their components, such as artillery shells, artillery rounds, and artillery projectiles. The report offers detailed insights into advancements in precision guided munitions and smart artillery shells, alongside traditional artillery ordnance systems.

Stakeholders in the artillery systems industry benefit from our thorough analysis of military explosives and artillery propellant technologies. We provide technical specifications of artillery fuze mechanisms. The report, available as an easy-to-download PDF, delivers actionable intelligence on the evolving market for precision guided munitions and emerging trends in the artillery systems market. Our research methodology combines primary data with expert analysis. This ensures stakeholders receive accurate, current, and comprehensive insights for informed decision-making in this critical defense sector.

Artillery Ammunition Market Report Snapshots