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

Global High Caliber Ammunition Industry Report is Segmented by Caliber Type (40 - 60 mm and above 60mm), by End-user (Naval Forces and Ground Forces), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market size and forecasts for all the above segments are provided in terms of value (USD Billion).

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

Large Caliber Ammunition Market Size

Large Caliber Ammunition Market Summary
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

Large Caliber Ammunition Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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.

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.

Market Analysis of Large Caliber Ammunition Market: Chart for By Caliber Type

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.

Market Analysis of Large Caliber Ammunition Market: Forecasted Growth Rate by Region

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

  1. General Dynamics Corporation

  2. Rheinmetall AG

  3. BAE Systems PLC

  4. Nexter Group

  5. Northrop Grumman

  6. *Disclaimer: Major Players sorted in no particular order
Large Caliber Ammunition Market Concentration
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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
  • 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

  • 5.1 By Caliber Type
    • 5.1.1 40-60 mm
    • 5.1.2 Above 60 mm
  • 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.)
  • 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
  • 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

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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
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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.

Large Caliber Ammunition Market Research

Mordor Intelligence offers comprehensive expertise in analyzing defense ammunition markets. We provide detailed insights into the evolving landscape of military ordnance and advanced weaponry. Our extensive research covers the full spectrum of tank ammunition systems. This includes high explosive ammunition and sophisticated guided ammunition technologies. The report delivers an in-depth analysis of global supply chains, technological innovations, and strategic developments in military projectile manufacturing and deployment.

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.