The market is segmented by type, range, caliber and application. On the basis
of type, the market is segmented into howitzer [self-propelled, towed],
mortar [self-propelled, towed], anti-air [air defense gun, counter rocket
artillery and mortar (CRAM)] and others [naval, coastal], out of which the
howitzer segment is anticipated to have leading shares on account of high
adoption of these ammunitions in military. The howitzers can provide both
direct and indirect fires, need low maintenance, and are highly cost effective.
The market is further segmented into small, medium and large on the basis
of range, out of which the medium segment is anticipated to witness
significant growth on the back of their high ballistic properties to carry out
operations efficiently. The reduced maintenance, better projectiles and
trajectory, improved tracer visibility and elimination of contamination of
environment are expected to boost the market growth. On the basis of
caliber, the market is further segmented into small, medium and heavy, out
of which, the medium segment is anticipated to have leading market shares
on the account of their increasing demand for various applications, the
ammunitions are available in wide spectrum so as to cater the required
demand.
On the regional basis, the market is segmented into North America, Europe,
Asia-Pacific, Latin America and Middle East & Africa, out of which North
America is anticipated to have leading shares during the forecast period on
the back of huge government investments in military and defense sector
coupled with presence of major key players in the region. Europe is expected
to witness significant growth owing to the recent events that has taken place
in the continent. The attacks have forced the countries to adopt for better
defense strategies to tackle the threats. Asia –Pacific is anticipated to witness
significant growth on the back of increasing terrorist activities in the region