Market Size of Europe Medium And Large Caliber Ammunition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 328.76 Million |
| Market Size (2029) | USD 377.61 Million |
| CAGR (2024 - 2029) | 2.81 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Medium And Large Caliber Ammunition Market Analysis
The Europe Medium and Large Caliber Ammunition Market size is estimated at USD 1.31 billion in 2023, and is expected to reach USD 1.49 billion by 2028, growing at a CAGR of 2.60% during the forecast period (2023-2028).
European countries' increased defense spending on weapon systems is driving the market's growth. Militaries in Europe are investing in weapons such as field artillery, RWS, mortars, naval guns, aircraft cannons., etc., to strengthen the lethality of the armed forces. These weapons also provide cost-effective firepower support over costly missiles and rockets during close combat operations.
The Russia-Ukraine war in 2022 is expected to aid the procurement and upgradation activities undertaken by armed forces to counter the emerging threats. Several contracts are underway for naval vessels, military aircraft, helicopters, infantry fighting vehicles (IFVs), and armored personnel carriers (APCs) mounted with large-calibre turret guns. Many new contracts are anticipated to be dispersed during the forecast period. Due to this, the demand for medium and large-caliber ammunition is expected to rise in the region.
Growth is subjective to several associative factors, such as allocating funds to procure new equipment. Rapid technological advances, resulting in the short-term effectiveness of newly developed technology, may adversely affect it.
