Market Size of Medium Caliber Ammunition Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.24 Billion |
| Market Size (2029) | USD 1.37 Billion |
| CAGR (2024 - 2029) | 2.16 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medium Caliber Ammunition Market Analysis
The Medium Caliber Ammunition Market size is estimated at USD 1.24 billion in 2024, and is expected to reach USD 1.37 billion by 2029, growing at a CAGR of 2.16% during the forecast period (2024-2029).
- The growing geopolitical issues and border tensions have led to robust growth in military spending of the countries. This is propelling the investment of armed forces into new generation land, air, and sea platforms. This is expected to drive the growth of the market in the coming years.
- The medium-caliber ammunition market is expected to grow primarily due to the procurement and upgrade activities undertaken by armed forces to counter the 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.
- Few countries follow a protectionist strategy to protect the domestic ammunition industry against foreign monopoly. Such laws and regulations serve as a deterrent for foreign companies trying to expand into other countries.
