
Study Period | 2019 - 2030 |
Market Size (2025) | USD 335.53 Million |
Market Size (2030) | USD 498.74 Million |
CAGR (2025 - 2030) | 8.25 % |
Fastest Growing Market | Europe |
Largest Market | North America |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Large Caliber Ammunition Market Analysis
The Large Caliber Ammunition Market size is estimated at USD 335.53 million in 2025, and is expected to reach USD 498.74 million by 2030, at a CAGR of 8.25% during the forecast period (2025-2030).
The large caliber ammunition industry continues to evolve amid significant shifts in global defense priorities and technological advancements. Global military ordnance expenditure reached USD 2.1 trillion in 2021, reflecting the increasing focus on military modernization and security preparedness across major world powers. The industry is witnessing a transformation in procurement strategies, with several NATO member states committing to meet or exceed the alliance's spending goal of 2% of GDP on defense capabilities. This heightened focus on defense ammunition spending has catalyzed investments in advanced weapon systems and ammunition, particularly in response to evolving security challenges and the need for enhanced military capabilities.
Technological innovation is revolutionizing the large caliber ammunition landscape, with manufacturers increasingly focusing on developing smart and guided ammunition. The integration of GPS guidance systems, advanced proximity fuses, and sophisticated target acquisition capabilities has become a cornerstone of modern ammunition development. These technological advancements are enabling armed forces to achieve higher accuracy, reduced collateral damage, and enhanced operational effectiveness. The industry is witnessing particular growth in the development of programmable ammunition with multi-functional capabilities, allowing for greater flexibility in military operations.
The market is experiencing significant transformation through strategic industry partnerships and production capability enhancements. In March 2022, a notable development saw three South Korean defense companies securing a combined contract worth USD 989 million to supply defense ammunition and defense systems to Saudi Arabia. Such collaborations are becoming increasingly common as manufacturers seek to expand their global footprint and enhance their production capabilities. The industry is also witnessing a shift toward domestic manufacturing capabilities, with several countries investing in local production facilities to ensure supply chain security and reduce dependency on imports.
The geopolitical landscape continues to shape market dynamics, with regional tensions and security concerns driving demand for large caliber ammunition. The ongoing Russia-Ukraine conflict has particularly influenced market dynamics, leading to increased defense spending among European nations and accelerated modernization programs. This has resulted in numerous countries reviewing and upgrading their artillery systems and ammunition stockpiles. The industry is responding through increased production capacity, technological innovation, and strategic partnerships to meet the growing demand for advanced guided ammunition systems while ensuring reliability and performance in diverse operational environments.
Large Caliber Ammunition Market Trends
Growth in the Global Defense Expenditure
The global military landscape has witnessed substantial growth in defense expenditure, driven by increasing geopolitical tensions and the need to modernize military capabilities. According to SIPRI, global military expenditure reached USD 2113 billion in 2021, marking a significant 7% increase from the previous year and demonstrating a 19% growth compared to 2012 levels. This unprecedented rise in military spending is primarily attributed to the five largest military powers - the United States, China, India, the United Kingdom, and Russia - which collectively account for 62% of worldwide military expenditure, highlighting the concentrated nature of global defense investments.
The United States, maintaining its position as the world's largest defense spender, has demonstrated its commitment to military modernization through substantial budget allocations. The Department of Defense's budget authority reached approximately USD 722 billion for FY 2022, with a proposed increase to USD 773 billion for FY 2023, focusing primarily on enhancing capabilities across air, maritime, and land warfighting domains. A notable portion of this budget, USD 24.7 billion, has been specifically allocated for missiles and munitions in FY 2023, emphasizing the strategic importance of maintaining and upgrading defense ammunition stockpiles. This significant investment reflects the broader global trend of nations prioritizing defense spending to maintain military readiness and technological superiority.
Upgradation of Capabilities to Counter Emerging Threats
The evolution of modern warfare and emerging security threats has compelled armed forces worldwide to undertake comprehensive upgrades of their military capabilities, particularly in terms of tank ammunition and weapons systems. Military transport systems have become increasingly vulnerable to terrorist organizations, necessitating enhanced protection measures and advanced ammunition capabilities. Recent incidents, such as military convoy attacks in Iraq's Samarra region and Myanmar's Sagaing Region in 2023, have highlighted the critical need for upgraded defensive capabilities and modern ammunition systems.
The response to these emerging threats has manifested in significant procurement initiatives across various nations. For instance, Estonia's Defense Forces announced a substantial procurement plan worth EUR 80 million for large and small caliber ammunition, with EUR 30 million specifically allocated for large caliber ammunition from eight suppliers over the next four to eight years. Similarly, the United States has initiated plans to procure 100,000 rounds of 155mm howitzer ammunition from South Korean manufacturers, demonstrating the global nature of ammunition supply chains and the urgent need to maintain robust stockpiles. These modernization efforts extend beyond traditional ammunition to include advanced systems such as precision-guided munitions, smart ammunition, and enhanced delivery systems, reflecting the evolving nature of military threats and the corresponding need for sophisticated countermeasures.
Moreover, the focus on high explosive ammunition has intensified, as it plays a crucial role in countering fortified positions and armored threats. This emphasis on high explosive ammunition and tank ammunition underscores the strategic shift towards more versatile and effective military ordnance solutions, ensuring that armed forces are equipped to address a wide range of combat scenarios effectively.
Segment Analysis: By Caliber Type
Above 60 mm Segment in Large Caliber Ammunition Market
The Above 60 mm segment dominates the large caliber ammunition market, commanding approximately 96% market share in 2024. This segment's dominance is primarily attributed to the growing use of mortars, anti-aircraft ammunition, and integration of large caliber weapons in response to evolving military requirements and regional conflicts. The segment encompasses ammunition ranging from 61 mm to 155 mm, catering to various military applications including artillery systems, naval guns, and tank ammunition. The increasing focus on modernizing artillery capabilities by major military powers has significantly contributed to this segment's market leadership. Military forces worldwide are investing heavily in Above 60 mm ammunition to enhance their long-range precision strike capabilities and maintain strategic deterrence. The demand for high-explosive ammunition within this segment is also rising, driven by the need for effective impact in various combat scenarios.

Above 60 mm Segment in Large Caliber Ammunition Market
As both the largest and fastest-growing segment, Above 60 mm ammunition is projected to maintain a robust growth trajectory with approximately 9% CAGR from 2024 to 2029. This growth is driven by increasing defense modernization programs across major economies and the rising demand for advanced artillery systems. The segment's growth is further supported by ongoing technological advancements in ammunition design, including the development of guided ammunition and smart ammunition systems. Military forces are increasingly focusing on acquiring ammunition with extended range capabilities and enhanced accuracy, particularly in the higher caliber ranges, which continues to fuel the segment's expansion. The integration of military projectiles with precision-guided capabilities is becoming a critical factor in strategic military operations.
Segment Analysis: By User
Ground Forces Segment in Large Caliber Ammunition Market
The Ground Forces segment continues to dominate the large caliber ammunition market, commanding approximately 83% of the market share in 2024. This substantial market position is primarily driven by robust investment from prominent economies to modernize their stockpiles and inventories. The segment's dominance is further strengthened by the increasing adoption of programmable munitions across multiple avenues including anti-aircraft artillery weapons, armored vehicles, and shoulder-fired weapons. Modern shoulder-fired weapons have become increasingly capable of performing relevant tasks with large-caliber programmable ammunition, while several manufacturers are developing advanced time-programmable ammunition with different calibers and warhead systems based on end-user requirements. The growth is also supported by the rising demand for non-lethal ammunition among law enforcement agencies for riot control and other security applications. The integration of high-explosive ammunition in ground operations is also a key factor driving the segment's expansion.
Naval Forces Segment in Large Caliber Ammunition Market
The Naval Forces segment is projected to exhibit the fastest growth in the large caliber ammunition market during 2024-2029, driven by increasing emphasis on surveillance, threat detection, and target identification at sea. The segment's growth is supported by robust investments in the procurement of frigates, corvettes, offshore patrol vessels (OPVs), and other vessels for patrolling applications. Naval forces are actively integrating their warships with modernized 76 mm, 100 mm, 114 mm, and 127 mm guns, indicating a strong trend for large-caliber ammunition demand. The use of multi-mode programmable ammunition with multi-functional capability has become increasingly important for naval forces, as it presents an advantage to naval vessels in terms of engaging various types of targets with the same stockpile of ammunition. Most newer generation artillery guns can fire programmable ammunition, with newer large-caliber naval guns being offered with programmable ammunition and related fire control systems. The strategic deployment of military projectiles in naval operations is enhancing the effectiveness of maritime defense systems.
Large Caliber Ammunition Market Geography Segment Analysis
Large Caliber Ammunition Market in North America
North America represents a dominant force in the global large caliber ammunition market, driven by substantial defense spending and ongoing military modernization programs. The United States and Canada are the key contributors to the regional market, with both countries focusing on enhancing their military capabilities through advanced weapon systems and defense ammunition. The region's market is characterized by the presence of major defense contractors and ammunition manufacturers who continuously invest in research and development to produce more effective and precise field artillery ammunition systems.

Large Caliber Ammunition Market in United States
The United States maintains its position as the largest market for large caliber ammunition in North America, accounting for approximately 96% of the regional market share in 2024. The country's dominant position is supported by its extensive military operations, substantial defense budget, and the presence of major ammunition manufacturers. The US military's focus on maintaining combat readiness and modernizing its artillery systems continues to drive demand for tank ammunition. The country operates multiple ammunition manufacturing facilities, including the Iowa Army Ammunition Plant, which specializes in the assembly of large-caliber ammunition, high explosive artillery, and smart munitions.
Large Caliber Ammunition Market in Canada
Canada emerges as a growing market in the North American region, with a projected growth rate of approximately 5% during 2024-2029. The country's market is driven by its commitment to NATO operations and its ongoing military modernization initiatives. Canada's armed forces are actively involved in upgrading their existing naval and ground forces capabilities, particularly focusing on the procurement of new artillery systems and military ordnance. The country has been working closely with domestic and international manufacturers to enhance its ammunition manufacturing capabilities and ensure a steady supply for its armed forces.
Large Caliber Ammunition Market in Europe
The European large caliber ammunition market is experiencing significant growth, driven by increasing defense budgets and ongoing military modernization programs across the region. Key countries, including the United Kingdom, Germany, France, and Russia, are making substantial investments in their defense capabilities. The region's market is characterized by the presence of established ammunition manufacturers and an increasing focus on developing advanced ammunition technologies, particularly in response to evolving security challenges.
Large Caliber Ammunition Market in United Kingdom
The United Kingdom stands as the largest market for large caliber ammunition in Europe, commanding approximately 28% of the regional market share in 2024. The country's strong market position is supported by its robust defense industry and significant military modernization programs. The UK's defense strategy emphasizes maintaining and upgrading its artillery capabilities, with substantial investments in new weapon systems and defense ammunition technologies. The country's defense industry, led by major manufacturers, continues to develop and produce advanced ammunition systems for both domestic use and export markets.
Large Caliber Ammunition Market in Germany
Germany represents the fastest-growing market in the European region, with a projected growth rate of approximately 14% during 2024-2029. The country's market growth is driven by its increasing defense budget and comprehensive military modernization initiatives. Germany's focus on enhancing its artillery capabilities and ammunition stockpiles, coupled with its strong domestic defense industrial base, particularly in ammunition manufacturing, positions it for sustained growth. The country's defense industry continues to invest in research and development of advanced ammunition technologies, including precision-guided and smart tank ammunition systems.
Large Caliber Ammunition Market in Asia-Pacific
The Asia-Pacific region represents a rapidly evolving market for large caliber ammunition, characterized by increasing defense budgets and military modernization programs across major economies. Countries including China, India, Japan, and South Korea are making significant investments in their defense capabilities, particularly in response to regional security dynamics. The market is driven by growing domestic manufacturing capabilities and an increasing focus on self-reliance in ammunition production.
Large Caliber Ammunition Market in China
China maintains its position as the largest market for large caliber ammunition in the Asia-Pacific region. The country's dominant position is supported by its extensive military modernization program and significant investments in defense capabilities. China's focus on developing advanced ammunition technologies and enhancing its domestic manufacturing capabilities continues to drive market growth. The country's defense industry has made substantial progress in developing and producing sophisticated field artillery ammunition systems for both domestic use and export markets.
Large Caliber Ammunition Market in India
India emerges as the fastest-growing market in the Asia-Pacific region. The country's market growth is driven by its comprehensive military modernization programs and increasing focus on indigenous ammunition production capabilities. India's strategic initiatives to enhance its artillery capabilities and ammunition stockpiles, coupled with its growing domestic defense industrial base, contribute to market expansion. The country's defense industry is actively working on developing advanced military ordnance technologies and increasing production capabilities to meet both domestic requirements and export opportunities.
Large Caliber Ammunition Market in Latin America
The Latin American large caliber ammunition market is characterized by moderate growth, with Brazil emerging as both the largest and fastest-growing market in the region. The regional market is influenced by military modernization initiatives and the need to replace aging ammunition stockpiles. Countries in the region are focusing on developing domestic ammunition manufacturing capabilities while maintaining strategic partnerships with international suppliers. The market is characterized by increasing investments in advanced ammunition technologies and efforts to enhance self-reliance in defense production.
Large Caliber Ammunition Market in Middle East and Africa
The Middle East and Africa region demonstrates significant potential in the large caliber ammunition market, with Saudi Arabia emerging as the largest market and the United Arab Emirates as the fastest-growing market. The regional market is driven by ongoing military modernization programs, regional security concerns, and increasing defense budgets. Countries in the region are focusing on enhancing their domestic ammunition manufacturing capabilities while maintaining strong relationships with international suppliers. The market is characterized by significant investments in advanced ammunition technologies and efforts to develop indigenous production capabilities.
Large Caliber Ammunition Industry Overview
Top Companies in Large Caliber Ammunition Market
The large caliber ammunition market is characterized by established defense contractors focusing on continuous innovation in ammunition technology, particularly in areas of extended range, guided ammunition, and enhanced lethality. Companies are investing heavily in research and development to create advanced ammunition variants that meet evolving battlefield requirements, while simultaneously expanding their manufacturing capabilities to meet growing demand. Strategic partnerships and collaborations with military organizations have become increasingly important for product development and testing, while geographical expansion through local manufacturing facilities and technology transfer agreements helps penetrate new markets. Operational agility is demonstrated through flexible production capabilities that can adapt to varying caliber requirements and urgent military needs, supported by robust supply chain management systems and quality control processes.
Consolidated Market Led by Defense Conglomerates
The market structure is dominated by large defense conglomerates with diverse product portfolios, including companies like General Dynamics, BAE Systems, and Rheinmetall, who leverage their extensive research capabilities and established relationships with military customers. These major players typically operate through specialized ammunition divisions while maintaining broader defense business units, allowing them to offer comprehensive weapon system solutions. Regional specialists like Nammo and Mesko maintain strong positions in their respective markets through focused expertise and close alignment with national defense requirements.
The industry exhibits moderate to high consolidation, with the top players controlling significant market share through their established production capabilities and long-term military contracts. Merger and acquisition activities are strategically focused on acquiring specialized ammunition technologies or expanding geographical presence, particularly in emerging markets with growing defense budgets. Vertical integration strategies are common, with manufacturers controlling various aspects of the production process from propellants to final assembly, while also maintaining partnerships with specialized component suppliers. The role of defense ammunition in these strategies is crucial as it ensures a comprehensive approach to meeting military needs.
Innovation and Adaptability Drive Market Success
Success in the large caliber ammunition market increasingly depends on manufacturers' ability to develop next-generation ammunition solutions that address emerging battlefield requirements while maintaining cost-effectiveness. Incumbent players must focus on maintaining technological leadership through sustained investment in research and development, while also expanding their international presence through strategic partnerships and local manufacturing initiatives. Building and maintaining strong relationships with military customers through reliable delivery performance and responsive technical support remains crucial for long-term success.
For emerging players and market contenders, differentiation through specialized ammunition solutions and focus on underserved market segments offers opportunities for growth. The high concentration of military end-users and stringent qualification requirements create significant entry barriers, while the limited threat of substitution from alternative technologies reinforces market stability. Regulatory compliance, particularly regarding export controls and environmental standards, continues to shape market dynamics and influence manufacturers' operational strategies. Success in this market requires a delicate balance between innovation, operational efficiency, and regulatory compliance while maintaining strong relationships with military customers. The integration of military ordnance and defense ammunition into these strategies underscores the importance of aligning with military needs and regulatory frameworks.
Large Caliber Ammunition Market Leaders
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General Dynamics Corporation
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Rheinmetall AG
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BAE Systems PLC
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Nexter Group
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Northrop Grumman
- *Disclaimer: Major Players sorted in no particular order

Large Caliber Ammunition Market News
- In April 2022, the Armed Forces of Senegal signed a contract with Nexter to supply 8 105 LG guns and 105 mm ammunition. The 105LG is a 105 mm towed artillery gun known for its reliability and unmatched lightness (1,650 kg) and can be used in extreme climates and difficult terrains.
- In March 2022, the Hungarian Ministry of Defense contracted with Rheinmetall to supply an extensive package of ammunition worth several hundred million euros. The order includes 120 mm tank ammunition and 155 mm artillery shells, including propelling charges and fuses.
Large Caliber 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
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Caliber Type
- 5.1.1 40-60 mm
- 5.1.2 Above 60 mm
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5.2 By End User
- 5.2.1 Naval Forces
- 5.2.2 Ground Forces (Air Force, Army, Special Forces, Border Security, Federal Agencies, etc.)
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 France
- 5.3.2.4 Russia
- 5.3.2.5 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Latin America
- 5.3.4.1 Brazil
- 5.3.4.2 Rest of Latin America
- 5.3.5 Middle East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Israel
- 5.3.5.4 South Africa
- 5.3.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 General Dynamics Corporation
- 6.2.2 BAE Systems PLC
- 6.2.3 Rheinmetall AG
- 6.2.4 Nexter group KNDS
- 6.2.5 Northrop Grumman
- 6.2.6 ST Engineering
- 6.2.7 Saab AB
- 6.2.8 Ukroboronprom
- 6.2.9 Denel SOC Ltd
- 6.2.10 Nammo AS
- 6.2.11 Global Ordnance
- 6.2.12 Diehl Stiftung & Co. KG
- 6.2.13 Leonardo SpA
- 6.2.14 Raytheon Technologies Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Large Caliber Ammunition Industry Segmentation
Large caliber ammunition refers to ammunition with caliber sizes in the range of 40 mm to 155 mm. The large caliber ammunition market is segmented by caliber type, end-user, and geography. By caliber type, the market is segmented into 40-60 mm and above 60 mm. By end-user, the market is segmented into naval forces and ground forces. By geography, the market is classified as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report offers market size and forecasts for all the above segments in terms of values in USD billion.
By Caliber Type | 40-60 mm | ||
Above 60 mm | |||
By End User | Naval Forces | ||
Ground Forces (Air Force, Army, Special Forces, Border Security, Federal Agencies, etc.) | |||
Geography | North America | United States | |
Canada | |||
Europe | United Kingdom | ||
Germany | |||
France | |||
Russia | |||
Rest of Europe | |||
Asia-Pacific | China | ||
India | |||
Japan | |||
South Korea | |||
Rest of Asia-Pacific | |||
Latin America | Brazil | ||
Rest of Latin America | |||
Middle East and Africa | United Arab Emirates | ||
Saudi Arabia | |||
Israel | |||
South Africa | |||
Rest of Middle East and Africa |
Large Caliber Ammunition Market Research FAQs
How big is the Large Caliber Ammunition Market?
The Large Caliber Ammunition Market size is expected to reach USD 335.53 million in 2025 and grow at a CAGR of 8.25% to reach USD 498.74 million by 2030.
What is the current Large Caliber Ammunition Market size?
In 2025, the Large Caliber Ammunition Market size is expected to reach USD 335.53 million.
Who are the key players in Large Caliber Ammunition Market?
General Dynamics Corporation, Rheinmetall AG, BAE Systems PLC, Nexter Group and Northrop Grumman are the major companies operating in the Large Caliber Ammunition Market.
Which is the fastest growing region in Large Caliber Ammunition Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Large Caliber Ammunition Market?
In 2025, the North America accounts for the largest market share in Large Caliber Ammunition Market.
What years does this Large Caliber Ammunition Market cover, and what was the market size in 2024?
In 2024, the Large Caliber Ammunition Market size was estimated at USD 307.85 million. The report covers the Large Caliber Ammunition Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Large Caliber Ammunition Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Large Caliber Ammunition Market Research
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Stakeholders across the defense industry can access crucial data and strategic insights through our easy-to-download report PDF. This document provides a detailed examination of field artillery ammunition developments and emerging technological trends. The analysis encompasses production capabilities, regulatory frameworks, and regional demand patterns. This enables decision-makers to understand market dynamics and growth opportunities. Our research methodology combines primary data from key industry participants with sophisticated analytical tools. This approach provides actionable intelligence for manufacturers, suppliers, and defense contractors operating in this critical sector.