포탄 시장 : 구경별, 탄환유형별, 용도별, 지역별

Artillery Shells Market is estimated to be valued at USD 4.65 Bn in 2025 and is expected to reach USD 6.77 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2032.

The global artillery shells market represents a critical segment within the defense and military equipment industry, encompassing the production, distribution, and utilization of various types of ammunition designed for artillery systems worldwide.

Artillery shells, which include conventional high-explosive rounds, guided projectiles, smoke shells, illumination rounds, and specialized munitions, serve as essential components for military operations, homeland security, and peacekeeping missions across different nations.

Rising geopolitical tensions, territorial disputes, and the need for military modernization programs have significantly influenced market growth patterns, driving demand for advanced artillery systems and their corresponding ammunition. The industry encompasses both government-owned manufacturing facilities and private defense contractors who supply artillery shells to armed forces globally.

Market dynamics are heavily influenced by defense budgets, international arms trade regulations, export-import policies, and strategic military alliances. The sector also witnesses substantial investments in research and development activities aimed at creating next-generation artillery shells with improved lethality, reduced collateral damage, and enhanced operational efficiency across diverse combat scenarios.

Market Dynamics

The global artillery shells market is primarily driven by escalating defense expenditures across nations worldwide, as governments prioritize military modernization and capability enhancement programs to address emerging security threats and maintain strategic deterrence capabilities.

Increasing geopolitical tensions, cross-border conflicts, and territorial disputes have compelled countries to strengthen their artillery capabilities, thereby boosting demand for various types of artillery shells including conventional, precision-guided, and extended-range munitions. Technological advancements in artillery systems, such as the development of smart munitions, GPS-guided projectiles, and multi-role artillery shells, serve as significant growth drivers by offering enhanced accuracy, reduced collateral damage, and improved operational effectiveness.

However, the market faces substantial restraints including stringent international regulations governing arms trade, export-import restrictions, and compliance requirements under various international treaties and conventions. High development costs associated with advanced artillery shell technologies, lengthy procurement cycles, and budget constraints in certain regions limit market growth potential. Additionally, increasing focus on diplomatic solutions to conflicts and peacekeeping initiatives may reduce immediate demand for artillery munitions.

Despite these challenges, the market presents significant opportunities through the development of environmentally friendly ammunition with reduced environmental impact, expansion into emerging markets with growing defense budgets, and strategic partnerships between defense contractors and government agencies. The integration of artificial intelligence, IoT technologies, and advanced materials in artillery shell design offers substantial growth prospects for market participants seeking to capitalize on next-generation military requirements.

Key Features of the Study

• This report provides in-depth analysis of the global artillery shells market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global artillery shells market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Rheinmetall AG, BAE Systems plc, General Dynamics Corporation, Thales Group, Saab AB, Hanwha Corporation, FN Herstal, Northrop Grumman Corporation, Leonardo S.p.A., Nammo AS, Elbit Systems Ltd., Raytheon Technologies Corporation, Lockheed Martin Corporation, MSM North America, and Jeanuvs
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global artillery shells market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global artillery shells market

Market Segmentation

• Caliber Insights (Revenue, USD Bn, 2020 - 2032)
  • 155mm
  • 152mm
  • 120mm
  • 122mm
  • 105mm
• Shell Type Insights (Revenue, USD Bn, 2020 - 2032)
  • High-Explosive (HE)
  • Precision-Guided
  • Smoke
  • Illumination
  • Training
• Application Insights (Revenue, USD Bn, 2020 - 2032)
  • Ground Forces
  • Naval Forces
  • Air Forces
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
  • Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
  • Africa
  • South Africa
  • North Africa
  • Central Africa
• Key Players Insights
  • Rheinmetall AG
  • BAE Systems plc
  • General Dynamics Corporation
  • Thales Group
  • Saab AB
  • Hanwha Corporation
  • FN Herstal
  • Northrop Grumman Corporation
  • Leonardo S.p.A.
  • Nammo AS
  • Elbit Systems Ltd.
  • Raytheon Technologies Corporation
  • Lockheed Martin Corporation
  • MSM North America
  • Jeanuvs

Table of Contents

1. Research Objectives and Assumptions

• Research Objectives
• Assumptions
• Abbreviations

2. Market Purview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Global Artillery Shells Market, By Caliber
  • Global Artillery Shells Market, By Shell Type
  • Global Artillery Shells Market, By Application
  • Global Artillery Shells Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
• Impact Analysis
• Key Highlights
• Regulatory Scenario
• Product Launches/Approvals
• PEST Analysis
• PORTER's Analysis
• Market Opportunities
• Regulatory Scenario
• Key Developments
• Industry Trends

4. Global Artillery Shells Market, By Caliber, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• 155mm
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• 152mm
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• 120mm
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• 122mm
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• 105mm
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

5. Global Artillery Shells Market, By Shell Type, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• High-Explosive (HE)
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Precision-Guided
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Smoke
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Illumination
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Training
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

6. Global Artillery Shells Market, By Application, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Ground Forces
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Naval Forces
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Air Forces
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

7. Global Artillery Shells Market, By Region, 2020 - 2032, Value (USD Bn)

• Introduction
  • Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
  • Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
  • Regional Trends
• North America
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • U.S.
    • Canada
• Latin America
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
• Europe
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
• Asia Pacific
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
• Middle East
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • GCC Countries
    • Israel
    • Rest of Middle East
• Africa
  • Introduction
  • Market Size and Forecast, By Caliber, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Shell Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
    • South Africa
    • North Africa
    • Central Africa

8. Competitive Landscape

• Rheinmetall AG
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• BAE Systems plc
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• General Dynamics Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Thales Group
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Saab AB
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Hanwha Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• FN Herstal
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Northrop Grumman Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Leonardo S.p.A.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Nammo AS
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Elbit Systems Ltd.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Raytheon Technologies Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Lockheed Martin Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• MSM North America
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Jeanuvs
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies

9. Analyst Recommendations

• Wheel of Fortune
• Analyst View
• Coherent Opportunity Map

10. References and Research Methodology

• References
• Research Methodology
• About us