155mm Ammunition Market Latest Trends and Future Growth Study by 2033

155mm ammunition is a type of artillery shell that is fired from a howitzer cannon. It is typically used to provide support for troops on the ground, by shelling enemy positions or providing cover fire. The shells are usually made of high-explosive and are designed to cause maximum damage to targets. They are also equipped with a fuze, which is a device that detonates the shell at the desired time.

The 155mm Ammunition market size was USD 3.4 billion in 2022 and is anticipated to reach USD 4.7 billion in 2032, growing at a rate of 3.1% from 2023 to 2032.

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Key Trends

Some key trends in 155mm ammunition technology include the development of new propellants, the use of precision-guided munitions, and the increasing use of sensors and other technologies to improve the accuracy of artillery fire.

One of the most significant trends in 155mm ammunition technology is the development of new propellants. Propellants are the chemicals that provide the energy to propel the projectile from the gun barrel.

Precision-guided munitions (PGMs) are another key trend in 155mm ammunition technology. PGMs are designed to hit a specific target with greater accuracy than unguided munitions.

The use of sensors and other technologies to improve the accuracy of artillery fire is another trend that is becoming more common. Artillery systems are now often equipped with laser rangefinders, thermal imagers, and other sensors that can be used to improve the targeting of artillery rounds.

Key Drivers

The 155mm ammunition market is driven by the increasing demand for artillery systems globally.

The growing need for long-range artillery systems is another key driver of the market.

The increasing demand for technologically advanced artillery systems is also driving the market.

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Restraints & Challenges

The key restraints and challenges in the 155mm Ammunition market include the stringent regulations regarding the use of ammunition, the high cost of ammunition, and the limited availability of ammunition.

These factors have resulted in a slowdown in the growth of the 155mm Ammunition market.

Market Segments

The 155mm ammunition market is segmented by technology, application, and region. By technology, the market is classified into guided, and unguided. Based on application, it is bifurcated into projectiles, propellants, tanks, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Key Players

The global 155mm ammunition market includes players such as Ruag Ammotec, BAE Systems, Denel, General Dynamics Corporation, Global Ordnance, Hornady Manufacturing, Magtech, Rheinmetall AG, Nexter Group, Northcorp Grumann Corporation, and others.