Market Size of Asia-Pacific Medium And Large Caliber Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 461.84 Million |
| Market Size (2029) | USD 539.84 Million |
| CAGR (2024 - 2029) | 3.17 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Medium And Large Caliber Ammunition Market Analysis
The Asia-Pacific Medium And Large Caliber Ammunition Market size is estimated at USD 461.84 million in 2024, and is expected to reach USD 539.84 million by 2029, growing at a CAGR of 3.17% during the forecast period (2024-2029).
The increasing geopolitical conflicts and border tensions of neighboring countries in the region are fueling the rise in military expenditures of various countries. This increase in military spending is propelling investments into the procurement of new land, air, and sea platforms, which in turn is generating demand for medium- and large-caliber ammunition markets.
The medium and large caliber ammunition market is expected to grow primarily due to the armed forces' procurement and upgrade activities to counter emerging threats. Several contracts for naval vessels, military aircraft, helicopters, infantry fighting vehicles (IFVs), and armored personnel carriers (APCs) mounted with medium caliber turret guns are currently underway, and many new contracts are anticipated to be dispersed during the forecast period, creating a parallel demand for medium caliber ammunition.
High procurement costs and issues like arms trafficking might hinder the market potential. The cost of new technologies, especially new concepts, is expected to be high and economically infeasible unless the mass adoption of such technologies occurs.
Programmable ammunition and loitering munitions are some of the emerging technologies with the potential to change the market dynamics radically in the future.
