155 MM Ammunition (Artillery Ammunition) Market

The 155 MM ammunition (artillery ammunition) market is expected to grow from USD 8.39 billion in 2026 to USD 20.23 billion by 2031, at a CAGR of 19.2%. The 155 MM ammunition market is driven by defense modernization, rising border tensions, and higher artillery purchases by several countries. Governments are increasing local production and strengthening supply chains to reduce import dependence. Growing stockpile needs and regular military training are also supporting steady demand for 155 mm ammunition across the region.

Some of the major market players include BAE Systems (UK), Nammo AS (Norway), Elbit Systems Ltd. (Israel), Rheinmetall AG (Germany), and General Dynamics Corporation (US). These players have employed various organic and inorganic growth strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions, to enhance their international footprint and capture a significant share of the 155 MM ammunition (artillery ammunition) market. These organic and inorganic strategies have enabled market players to expand across geographies by offering a range of autonomous underwater vehicles.

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BAE Systems is a British defense, aerospace, and security company operating in more than 40 countries with approximately 110,000 employees. The company designs, develops, manufactures, and supports equipment and systems primarily for government and military customers. Its operations are organized into five business segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. Within its land portfolio, the company manufactures a broad range of munitions and ammunition, including small arms rounds (5.56mm and 7.62mm), medium caliber ammunition such as 20mm and 40mm cased telescoped rounds, 81mm mortar ammunition, 105mm and 155mm artillery ammunition, 120mm tank ammunition, and 4.5 inch naval gun ammunition. It also produces explosives and propellants through its US ordnance operations and manages government-owned ammunition facilities in the US. The company participates in joint ventures such as Eurofighter and MBDA.

Nammo AS is an international aerospace and defence company headquartered in Raufoss, Norway. Established in 1998 through the merger of Nordic ammunition companies, Nammo is jointly owned by the Norwegian Ministry of Trade, Industry and Fisheries and Patria Oyj of Finland. The company employs more than 3,700 people and operates 27 production sites across 11 countries with most revenues generated in Europe and North America. Nammo operates through four business units: Commercial Ammunition, Small and Medium Caliber Ammunition, Large Caliber Systems, and Aerospace Propulsion. Its ammunition portfolio covers small, medium, and large caliber products, including 5.56mm, 12.7mm, 20-40mm series, 57mm, 155mm artillery, mortar rounds, and propelling charges for military and training use. The company also produces shoulder fired systems, rocket motors for defense and space applications and provides demilitarization services. Approximately 80% of its revenue is derived from defense customers, with the remainder from civilian markets.

Rheinmetall AG is a German defense and technology group headquartered in Düsseldorf. Founded in 1889, the company operates through five divisions: Vehicle Systems Europe, Vehicle Systems International Weapon and Ammunition, Electronic Solutions, and Power Systems. It develops and manufactures military vehicles, weapon systems, electronic systems, sensors, and propulsion solutions for government and defense customers worldwide. Its Weapon and Ammunition division produces a broad portfolio of medium and large caliber ammunition, including 120mm tank rounds (HE, KE, PELE), 155mm artillery projectiles such as SMArt 155 sensor-fused munitions, mortar ammunition, 40mm grenade cartridges, and programmable air-burst and APFSDS-T rounds for automatic cannons. Rheinmetall AG functions as the management holding company, defining group strategy, capital allocation, compliance and risk management, and providing centralized services, including finance, human resources, legal, and information technology across its global operations.

Elbit Systems Ltd. is an Israel-based defense technology company that develops, manufactures, integrates, and supports systems for military and homeland security customers worldwide. The company operates across air, land, sea, space, and cyber domains and provides solutions, including unmanned systems, C4ISR systems, electronic warfare, electro-optics, land systems, and training and support services. It supports both new platforms and modernization programs and operates through multiple divisions and international subsidiaries. Its land portfolio includes tank and artillery ammunition such as 120mm, 105mm, 125mm, and 100mm series, as well as small-caliber ammunition including 5.56×45mm, 7.62×51mm, 9×19mm, and 12.7×99mm series for military applications.

General Dynamics Corporation is a US-based aerospace and defense company operating through four business groups: Aerospace, Marine Systems, Combat Systems, and Technologies. The company provides business aviation aircraft, nuclear-powered submarines, surface ships, combat vehicles, weapons systems, munitions, and information technology and C4ISR solutions to government and commercial customers worldwide.  General Dynamics Ordnance and Tactical Systems manufactures a broad range of ammunition and weapon systems, covering small, medium and large caliber ammunition, artillery projectiles, mortar systems, and precision munitions. The company also supplies armored vehicles and land systems for military customers. Marine Systems designs and builds submarines and surface combatants for the U.S. Navy, while Aerospace includes Gulfstream business jets. The Technologies group provides mission systems, communications, and IT services. Each business unit operates with responsibility for its own strategy and performance under overall corporate oversight.

Market Ranking

The 155 MM ammunition (artillery ammunition) market is led by a small number of global defense companies with strong production scale and long-term military supply programs. BAE Systems has a strong position with its wide range of 155 MM artillery ammunition and contracts with NATO and allied forces. Elbit Systems Ltd. supplies compatible 155 MM ammunition (artillery ammunition) for land forces. Rheinmetall AG supports the market with large-scale manufacturing and long-term supply programs in Europe and allied countries. Nammo AS provides high-performance and specialized 155 MM shells. General Dynamics also holds a solid position through steady production and supply of 155 MM ammunition (artillery ammunition) to US and allied defense customers.

Related Reports:

155 MM Ammunition (Artillery Ammunition) Market by Product (Howitzers, Truck-Mounted Artillery), Technology (Conventional Ballistic Projectiles, Base Bleed Projectiles), Component (Shell, Fuze, Propellant, Others), and Region – Global Forecast to 2031

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