The Consolidated Region 30MM Ammunition Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Consolidated Region 30MM Ammunition Global Market Report 2024, The consolidated region 30mm ammunition market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to military modernization initiatives, regional security concerns, counterterrorism operations, peacekeeping and stability operations, defense budget allocations.
The consolidated region 30mm ammunition market size is expected to see strong growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to geopolitical dynamics, modernization of armed forces, peacekeeping and conflict resolution, shift in military strategies, collaborative defense initiatives. Major trends in the forecast period include emphasis on environmental sustainability, increased collaboration among manufacturers, focus on cost-effective solutions, adoption of composite materials, rise of smart ammunition.
Growth in military spending is expected to propel the growth of the consolidated region’s 30mm ammunition market going forward. Military spending is the sum of money that a country spends on building and sustaining its armed forces or other defense-related strategies. The military’s expenditure on consolidated 30 mm ammunition guarantees that the armed forces have access to ammunition that can engage targets precisely, effectively, and with enough firepower, which enhances soldiers’ efficiency on the battlefield. For instance, in June 2022, according to the Office of the Parliamentary Budget Officer, a Canada-based intergovernmental organization, total military spending is expected to increase from $36.3 billion in 2022–2023 to $51.0 billion in 2026–2027. Therefore, growth in military spending is driving the growth of the consolidated region’s 30mm ammunition market.
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The consolidated region 30mm ammunition market covered in this report is segmented –
1) By Caliber: 20mm, 25mm, 30mm, 40mm, Other Calibers
2) By Ammunition Type: High Explosive Incendiary (HEI), High Explosive Incendiary – Tracer (HEI-T), High Explosive Incendiary/Tracer – Self Destruct (HEI/T-S.D.), Semi-armor Piercing High Explosive Incendiary-Tracer/Self Destruct, Other Ammunitions
3) By Weapon Type: Autocannon, Rotary Cannon, Naval Gun, Anti-material Gun, Anti-aircraft Gun, Other Weapons
4) By Platform: Airborne, Naval, Land
5) By Application: Lethal, Non-lethal
Product developments are a key trend gaining popularity in the consolidated 30mm ammunition market. Major companies operating in the consolidated 30mm ammunition market are developing innovative products to sustain their position in the market. For instance, in January 2023, Economic Explosives Ltd., an India-based chemical company, developed 30mm AK-630-HE ammunition, which the Indian Navy received. This is the first-ever 100% indigenous 30mm ammunition made in India, mainly used in the AK-630 guns installed on warships.
The consolidated region 30mm ammunition market report table of contents includes:
1. Executive Summary
2.Consolidated Region 30MM Ammunition Market Characteristics
3. Consolidated Region 30MM AmmunitionMarket Trends And Strategies
4.Consolidated Region 30MM Ammunition Market analysis
5. Consolidated Region 30MM AmmunitionMarket Size And Growth
6.Consolidated Region 30MM Ammunition Segmentation
7. Consolidated Region 30MM AmmunitionRegional And Country Analysis
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27.Consolidated Region 30MM Ammunition Competitive Landscape And Company Profiles
28.Consolidated Region 30MM Ammunition Key Mergers And Acquisitions
29.Consolidated Region 30MM Ammunition Future Outlook and Potential Analysis
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