Asia-Pacific Medium and Large Caliber Ammunition Market: Market Size, Growth By Top Company, Region, Applications, Drivers, Trends and Forecast: 2022-2031

The Asia-Pacific medium and large caliber ammunition market is projected to grow with a CAGR of more than 3% during the forecast period.

– The increasing geopolitical conflicts and border tension of neighbouring countries in the region is fueling the rise in military expenditure of various countries in the region. This increase in military expenditure is propelling the investments into the procurement of new land, air and sea platforms, which in turn is generating demand for medium and large caliber ammunition market.
– The development and procurement of advanced ammunition like smart weapons with advanced guidance systems are anticipated to accelerate the growth of medium and large caliber ammunition market in the Asia-Pacific region.
– The Asia-Pacific medium and large caliber ammunition market is highly fragmented with many regional players in the market.

Key Market Trends

The Large Caliber Segment is Expected Witness Highest Growth During the Forecast Period

The large caliber segment of the market is expected to witness the highest growth during the forecast period. This is primarily due to the procurement of howitzers, artilleries etc., which in turn is propelling the investments of governments towards procurement of large caliber ammunition. In February 2019, the Ordnance Factories Board (OFB) received approval from the Indian Army for the production of 114 indigenously designed and developed Dhanush 155-millimeter/45-caliber towed howitzers. Similarly, South Korea completed the development of a 120 mm self-propelled mortar system in June 2019. The system was developed by Hanwha Defense and S&T Dynamics and has the capabilities to can rotate 360°, automated fire control and reloading system and has a strike range of almost double that of the ageing M30 107 mm rifled mortar. Such developments and procurements of advanced systems are anticipated to boost the growth of the segment during the forecast period.

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China Dominates the Market in terms of Market Share

China currently dominates the market and is expected to continue its dominance during the forecast period. This is mainly due to growing military spending and subsequent investments into development and procurement of advanced armaments. The country plans to complete military modernization by 2035 and emerge as a supreme military power by the second centenary goal of 2049. Around 41% of the defense expenditure is allocated for procurement of equipment while another 28% is allocated for training and maintenance. The People’s Liberation Army Air Force (PLAAF) operates the Shenyang J-11, a licensed-built variant of the SU-27SK. Besides having provisions for loading and operating several missile variants, the aircraft also features a 30mm GSh-30-1 cannon for point defense. Also, due to increasing military tensions between India and China, the country is deploying howitzers at the borders. In June 2020, the country deployed PCL-181, the advanced vehicle-mounted howitzer in northwestern China. Such tensions and deployment of advanced weaponry are expected to accelerate the growth of the country in the coming years.

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Competitive Landscape

The market of Asia-Pacific medium and large caliber ammunition is highly fragmented with many regional players in the market that support various armed forces in the region. Some of the prominent players in the Asia-Pacific medium and large caliber ammunition market are Ordnance Factory Board, Poongsan Corporation, Rheinmetall AG, Saab AB, and Singapore Technologies Engineering Ltd. International players in the market are forming partnerships with the governments, constructing new production facilities and increasing their presence in the region. For instance, in 2017, the Rostec subsidiary, Techmash was exploring the plan for construction of production facility of 30 mm and 100 mm caliber artillery shells in Indonesia. Such expansion plans of the companies in the Asia-Pacific region is expected to support the growth and cash flows of the companies in the coming years.

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