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Global Artillery Shells Market Outlook, In‑Depth Analysis & Forecast to 2031
Industry: Chemical & Material
Published Date: 2025-07-30
Pages: 151 Pages
Report ld: 4804570
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Artillery Shells Market Size(US$)
CAGR 2025-2031
-22.04%
Market Size,2031
USD 4,074
Million
Market Snapshot
Market Size in 2025 (Value)
US$ 18,145 million
Market Forecast in 2031(Value)
US$ 4,074 million
CAGR
-22.04%
Years Considered
2020-2031
Base Year
2025
Forecast Period
2025-2031
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Artillery Shells market is projected to grow from US$ 14790 million in 2024 to US$ 4074 million by 2031, at a CAGR of -22.0% (2025-2031), driven by critical product segments and diverse end‑use applications, while evolving U.S. tariff policies introduce trade‑cost volatility and supply‑chain uncertainty.
Artillery shells are consumable munitions used in medium- and large-caliber artillery systems for delivering explosive, fragmentation, or specialized effects over long distances. Primarily deployed by military forces, they are essential to both offensive and defensive combat strategies. Artillery shells are typically used in howitzers, cannons, and similar field artillery platforms, playing a critical role in ground warfare. As a key component of modern armed forces’ firepower, these munitions are vital not only in wartime scenarios but also during periods of peace, where they serve in combat training, readiness exercises, and reserve stockpiling.
Current Market Landscape
The artillery shells market is marked by a high level of industry concentration and significant barriers to entry. Leading global suppliers are mainly headquartered in the United States and Europe, with a small number of major players accounting for the majority of global market revenue. These companies benefit from established relationships with national defense agencies, long-term contracts, and specialized technological capabilities. The industry’s growth has been reinforced by geopolitical developments, particularly the extended military conflict between Russia and Ukraine, where heavy reliance on artillery has greatly increased shell consumption on both sides. Additionally, many NATO and EU countries have faced pressure to restock depleted ammunition depots, highlighting the need for consistent supply even outside active battlefields.
Future Trends and Growth Drivers
Looking ahead, the artillery shells market is expected to experience sustained growth driven by rising global defense readiness. Increasing frequency and intensity of military training, coupled with a shift toward regularized combat simulation and confrontational drills, are expected to maintain high levels of shell consumption even during peacetime. As global security environments remain volatile, countries are reinforcing ammunition reserves and expanding their operational training programs. This persistent demand, alongside modernization efforts and heightened military investment, points to strong growth potential for artillery shells. The market is not only supported by current conflict zones but also by the structural requirements of national defense strategies worldwide.
Report Includes:
This definitive report equips CEOs, marketing directors, and investors with a 360° view of the global Artillery Shells market, seamlessly integrating production capacity and sales performance across the value chain. It analyzes historical production, revenue, and sales data (2020–2024) and delivers forecasts through 2031, illuminating demand trends and growth drivers.
By segmenting the market by Type and by Application, the study quantifies volume and value, growth rates, technical innovations, niche opportunities, and substitution risks, and analyzes downstream customers distribution pattern.
Granular regional insights cover five major markets—North America, Europe, APAC, South America, and MEA—with in‑depth analysis of 20+ countries. Each region’s dominant products, competitive landscape, and downstream demand trends are clearly detailed.
Critical competitive intelligence profiles manufacturers—capacity, sales volume, revenue, margins, pricing strategies, and major customers—and dissects the top-player positioning across product lines, applications, and regions to reveal strategic strengths.
A concise supply‑chain overview maps upstream suppliers, manufacturing technologies, cost structures, and distribution dynamics to identify strategic gaps and unmet demand.
MARKET SEGMENTATION
By Company
- General Dynamics
- Nammo
- KNDS
- BAE Systems
- Elbit Systems
- Day & Zimmermann
- Rheinmetall
- Rostec
- NORINCO
- Poongsan Corporation
- MESKO
- MKE
Consumption by Region
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Segment by Type
- 155mm
- 152mm
- 122mm
- 105mm
- Other
Segment by Application
- High-Explosive (HE)
- Smoke
- Illumination
- Training Rounds
- Other
CHAPTER OUTLINE
Chapter 1: Defines the Artillery Shells study scope, segments the market by Type and by Application, etc, highlights segment size and growth potential.
Chapter 2: Offers current market state, projects global revenue and sales to 2031, pinpointing high consumption regions and emerging market catalysts
Chapter 3: Maps global production capacity, utilization, and market share (2020–2031), identifies efficient hubs, reveals regulatory/trade policy impacts and bottlenecks.
Chapter 4: Dissects the manufacturer landscape—ranks by volume and revenue, analyzes profitability and pricing, maps production bases, details manufacturer performance by product type and evaluates concentration alongside M&A moves.
Chapter 5: Unlocks high margin product segments—compares sales, revenue, ASP, and technology differentiators, highlighting growth niches and substitution risks
Chapter 6: Targets downstream market opportunities—evaluates sales, revenue, and pricing by Application, identifies emerging use cases, and profiles leading customers by region and by Application.
Chapter 7: North America—breaks down sales and revenue by Type, by Application and country, profiles key manufacturers and assesses growth drivers and barriers.
Chapter 8: Europe—analyses regional sales, revenue and market by Type, by Application and manufacturers, flagging drivers and barriers.
Chapter 9: Asia Pacific—quantifies sales and revenue by Type, by Application, and region/country, profiles top manufacturers, and uncovers high potential expansion areas.
Chapter 10: Central & South America—measures sales and revenue by Type, by Application, and country, profiles top manufacturers, and identifies investment opportunities and challenges.
Chapter 11: Middle East and Africa—evaluates sales and revenue by Type, by Application, and country, profiles key manufacturers, and outlines investment prospects and market hurdles
Chapter 12: Profiles manufacturers in depth—details product specs, capacity, sales, revenue, margins; Top manufactures 2024 sales breakdowns by Product type, by Application, by sales region SWOT analysis, and recent strategic developments.
Chapter 13: Supply chain—analyses upstream raw materials and suppliers, manufacturing footprint and technology, cost drivers, plus downstream channels and distributor roles.
Chapter 14: Market dynamics—explores drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 15: Actionable conclusions and strategic recommendations.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Beyond standard market data, this analysis provides a clear profitability roadmap—empowering you to:
Allocate capital strategically to high growth regions (Chapters 7–11) and margin rich segments (Chapter 5).
Negotiate from strength with suppliers (Chapter 13) and customers (Chapter 6) using cost and demand intelligence.
Outmaneuver competitors with granular insights into their operations, margins, and strategies (Chapters 4 and 12).
Secure your supply chain against disruptions through upstream and downstream visibility (Chapters 13 and 14).
Leverage this 360° intelligence to turn market complexity into actionable competitive advantage.
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
Market entry risks/opportunities by region
We identify regional market threats and growth prospects to guide your overseas layout.
Product mix optimization based on local practices
We adjust product portfolios in line with local consumption habits.
Competitor tactics in fragmented vs. consolidated markets
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
Full Research Coverage
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
19 Years Industry Expertise
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
24/7 Fast Report Delivery
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
Localized Strategic Analysis
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
Market entry risks/opportunities by region
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
Market entry risks/opportunities by region
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Study Coverage
1.1 Introduction to Artillery Shells: Definition, Properties, and Key Attributes
1.2 Market Segmentation by Type
1.2.1 Global Artillery Shells Market Size by Type, 2020 VS 2024 VS 2031
1.2.2 155mm
1.2.3 152mm
1.2.4 122mm
1.2.5 105mm
1.2.6 Other
1.3 Market Segmentation by Application
1.3.1 Global Artillery Shells Market Size by Application, 2020 VS 2024 VS 2031
1.3.2 High-Explosive (HE)
1.3.3 Smoke
1.3.4 Illumination
1.3.5 Training Rounds
1.3.6 Other
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Executive Summary
2.1 Global Artillery Shells Revenue Estimates and Forecasts 2020-2031
2.2 Global Artillery Shells Revenue by Region
2.2.1 Revenue Comparison: 2020 VS 2024 VS 2031
2.2.2 Historical and Forecasted Revenue by Region (2020--2031)
2.2.3 Global Revenue Market Share by Region (2020-2031)
2.3 Global Artillery Shells Sales Estimates and Forecasts 2020-2031
2.4 Global Artillery Shells Sales by Region
2.4.1 Sales Comparison: 2020 VS 2024 VS 2031
2.4.2 Historical and Forecasted Sales by Region (2020-2031)
2.4.3 Emerging Market Focus: Growth Drivers & Investment Trends
2.4.4 Global Sales Market Share by Region (2020-2031)
3 Global Production Analysis
3.1 Global Artillery Shells Production Capacity and Utilization Rates (2020–2031)
3.2 Regional Production: Comparative Analysis (2020 VS 2024 VS 2031)
3.3 Regional Production Dynamics
3.3.1 Historic Production by Region (2020-2025)
3.3.2 Forecasted Production by Region (2026-2031)
3.3.3 Production Market Share by Region (2020-2031)
3.3.4 Regulatory and Trade Policy Impact on Production
3.3.5 Production Capacity Enablers and Constraints
3.4 Key Regional Production Hubs
3.4.1 North America
3.4.2 Europe
3.4.3 China
3.4.4 Japan
4 Competition by Manufacturers
4.1 Global Artillery Shells Sales by Manufacturers
4.1.1 Global Sales Volume by Manufacturers (2020-2025)
4.1.2 Global Top 5 and Top 10 Manufacturers’Market Share by Sales Volume (2024)
4.2 Global Artillery Shells Manufacturer Revenue Rankings and Tiers
4.2.1 Global Revenue (Value) by Manufacturers (2020-2025)
4.2.2 Global Key Manufacturer Revenue Ranking (2023 vs. 2024)
4.2.3 Revenue-Based Tier Segmentation (Tier 1, Tier 2, and Tier 3)
4.3 Manufacturer Profitability Profiles and Pricing Strategies
4.3.1 Gross Margin by Top Manufacturer (2020 VS 2024)
4.3.2 Manufacturer-Level Price Trends (2020-2025)
4.4 Key Manufacturers Manufacturing Base and Headquarters
4.5 Main Product Type Market Size by Manufacturers
4.5.1 155mm Market Size by Manufacturers
4.5.2 152mm Market Size by Manufacturers
4.5.3 122mm Market Size by Manufacturers
4.5.4 105mm Market Size by Manufacturers
4.5.5 Other Market Size by Manufacturers
4.6 Global Artillery Shells Market Concentration and Dynamics
4.6.1 Global Market Concentration (CR5 and HHI)
4.6.2 Entrant/Exit Impact Analysis
4.6.3 Strategic Moves: M&A, Capacity Expansion, R&D Investment
5 Global Product Segmentation Analysis
5.1 Global Artillery Shells Sales Performance by Type
5.1.1 Global Historical and Forecasted Sales by Type (2020-2031)
5.1.2 Global Sales Market Share by Type (2020-2031)
5.2 Global Artillery Shells Revenue Trends by Type
5.2.1 Global Historical and Forecasted Revenue by Type (2020-2031)
5.2.2 Global Revenue Market Share by Type (2020-2031)
5.3 Global Average Selling Price (ASP) Trends by Type (2020-2031)
5.4 Product Technology Differentiation
5.5 Subtype Dynamics: Growth Leaders, Profitability and Risk
5.5.1 High-Growth Niches and Adoption Drivers
5.5.2 Profitability Hotspots and Cost Drivers
5.5.3 Substitution Threats
6 Global Downstream Application Analysis
6.1 Global Artillery Shells Sales by Application
6.1.1 Global Historical and Forecasted Sales by Application (2020-2031)
6.1.2 Global Sales Market Share by Application (2020-2031)
6.1.3 High-Growth Application Identification
6.1.4 Emerging Application Case Studies
6.2 Global Artillery Shells Revenue by Application
6.2.1 Global Historical and Forecasted Revenue by Application (2020-2031)
6.2.2 Revenue Market Share by Application (2020-2031)
6.3 Global Pricing Dynamics by Application (2020-2031)
6.4 Downstream Customer Analysis
6.4.1 Top Customers by Region
6.4.2 Top Customers by Application
7 North America
7.1 North America Sales Volume and Revenue (2020-2031)
7.2 North America Key Manufacturers Sales Revenue in 2024
7.3 North America Artillery Shells Sales and Revenue by Type (2020-2031)
7.4 North America Artillery Shells Sales and Revenue by Application (2020-2031)
7.5 North America Growth Accelerators and Market Barriers
7.6 North America Artillery Shells Market Size by Country
7.6.1 North America Revenue by Country
7.6.2 North America Sales Trends by Country
7.6.3 US
7.6.4 Canada
7.6.5 Mexico
8 Europe
8.1 Europe Sales Volume and Revenue (2020-2031)
8.2 Europe Key Manufacturers Sales Revenue in 2024
8.3 Europe Artillery Shells Sales and Revenue by Type (2020-2031)
8.4 Europe Artillery Shells Sales and Revenue by Application (2020-2031)
8.5 Europe Growth Accelerators and Market Barriers
8.6 Europe Artillery Shells Market Size by Country
8.6.1 Europe Revenue by Country
8.6.2 Europe Sales Trends by Country
8.6.3 Germany
8.6.4 France
8.6.5 U.K.
8.6.6 Italy
8.6.7 Russia
9 Asia-Pacific
9.1 Asia-Pacific Sales Volume and Revenue (2020-2031)
9.2 Asia-Pacific Key Manufacturers Sales Revenue in 2024
9.3 Asia-Pacific Artillery Shells Sales and Revenue by Type (2020-2031)
9.4 Asia-Pacific Artillery Shells Sales and Revenue by Application (2020-2031)
9.5 Asia-Pacific Artillery Shells Market Size by Region
9.5.1 Asia-Pacific Revenue by Region
9.5.2 Asia-Pacific Sales Trends by Region
9.6 Asia-Pacific Growth Accelerators and Market Barriers
9.7 Southeast Asia
9.7.1 Southeast Asia Revenue by Country (2020 VS 2024 VS 2031)
9.7.2 Key Country Analysis: Indonesia, Vietnam, Thailand
9.8 China
9.9 Japan
9.10 South Korea
9.11 China Taiwan
9.12 India
10 Central and South America
10.1 Central and South America Sales Volume and Revenue (2020-2031)
10.2 Central and South America Key Manufacturers Sales Revenue in 2024
10.3 Central and South America Artillery Shells Sales and Revenue by Type (2020-2031)
10.4 Central and South America Artillery Shells Sales and Revenue by Application (2020-2031)
10.5 Central and South America Investment Opportunities and Key Challenges
10.6 Central and South America Artillery Shells Market Size by Country
10.6.1 Central and South America Revenue Trends by Country (2020 VS 2024 VS 2031)
10.6.2 Brazil
10.6.3 Argentina
11 Middle East and Africa
11.1 Middle East and Africa Sales Volume and Revenue (2020-2031)
11.2 Middle East and Africa Key Manufacturers Sales Revenue in 2024
11.3 Middle East and Africa Artillery Shells Sales and Revenue by Type (2020-2031)
11.4 Middle East and Africa Artillery Shells Sales and Revenue by Application (2020-2031)
11.5 Middle East and Africa Investment Opportunities and Key Challenges
11.6 Middle East and Africa Artillery Shells Market Size by Country
11.6.1 Middle East and Africa Revenue Trends by Country (2020 VS 2024 VS 2031)
11.6.2 GCC Countries
11.6.3 Turkey
11.6.4 Egypt
11.6.5 South Africa
12 Corporate Profile
12.1 General Dynamics
12.1.1 General Dynamics Corporation Information
12.1.2 General Dynamics Business Overview
12.1.3 General Dynamics Artillery Shells Product Models, Descriptions and Specifications
12.1.4 General Dynamics Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.1.5 General Dynamics Artillery Shells Sales by Product in 2024
12.1.6 General Dynamics Artillery Shells Sales by Application in 2024
12.1.7 General Dynamics Artillery Shells Sales by Geographic Area in 2024
12.1.8 General Dynamics Artillery Shells SWOT Analysis
12.1.9 General Dynamics Recent Developments
12.2 Nammo
12.2.1 Nammo Corporation Information
12.2.2 Nammo Business Overview
12.2.3 Nammo Artillery Shells Product Models, Descriptions and Specifications
12.2.4 Nammo Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.2.5 Nammo Artillery Shells Sales by Product in 2024
12.2.6 Nammo Artillery Shells Sales by Application in 2024
12.2.7 Nammo Artillery Shells Sales by Geographic Area in 2024
12.2.8 Nammo Artillery Shells SWOT Analysis
12.2.9 Nammo Recent Developments
12.3 KNDS
12.3.1 KNDS Corporation Information
12.3.2 KNDS Business Overview
12.3.3 KNDS Artillery Shells Product Models, Descriptions and Specifications
12.3.4 KNDS Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.3.5 KNDS Artillery Shells Sales by Product in 2024
12.3.6 KNDS Artillery Shells Sales by Application in 2024
12.3.7 KNDS Artillery Shells Sales by Geographic Area in 2024
12.3.8 KNDS Artillery Shells SWOT Analysis
12.3.9 KNDS Recent Developments
12.4 BAE Systems
12.4.1 BAE Systems Corporation Information
12.4.2 BAE Systems Business Overview
12.4.3 BAE Systems Artillery Shells Product Models, Descriptions and Specifications
12.4.4 BAE Systems Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.4.5 BAE Systems Artillery Shells Sales by Product in 2024
12.4.6 BAE Systems Artillery Shells Sales by Application in 2024
12.4.7 BAE Systems Artillery Shells Sales by Geographic Area in 2024
12.4.8 BAE Systems Artillery Shells SWOT Analysis
12.4.9 BAE Systems Recent Developments
12.5 Elbit Systems
12.5.1 Elbit Systems Corporation Information
12.5.2 Elbit Systems Business Overview
12.5.3 Elbit Systems Artillery Shells Product Models, Descriptions and Specifications
12.5.4 Elbit Systems Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.5.5 Elbit Systems Artillery Shells Sales by Product in 2024
12.5.6 Elbit Systems Artillery Shells Sales by Application in 2024
12.5.7 Elbit Systems Artillery Shells Sales by Geographic Area in 2024
12.5.8 Elbit Systems Artillery Shells SWOT Analysis
12.5.9 Elbit Systems Recent Developments
12.6 Day & Zimmermann
12.6.1 Day & Zimmermann Corporation Information
12.6.2 Day & Zimmermann Business Overview
12.6.3 Day & Zimmermann Artillery Shells Product Models, Descriptions and Specifications
12.6.4 Day & Zimmermann Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.6.5 Day & Zimmermann Recent Developments
12.7 Rheinmetall
12.7.1 Rheinmetall Corporation Information
12.7.2 Rheinmetall Business Overview
12.7.3 Rheinmetall Artillery Shells Product Models, Descriptions and Specifications
12.7.4 Rheinmetall Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.7.5 Rheinmetall Recent Developments
12.8 Rostec
12.8.1 Rostec Corporation Information
12.8.2 Rostec Business Overview
12.8.3 Rostec Artillery Shells Product Models, Descriptions and Specifications
12.8.4 Rostec Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.8.5 Rostec Recent Developments
12.9 NORINCO
12.9.1 NORINCO Corporation Information
12.9.2 NORINCO Business Overview
12.9.3 NORINCO Artillery Shells Product Models, Descriptions and Specifications
12.9.4 NORINCO Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.9.5 NORINCO Recent Developments
12.10 Poongsan Corporation
12.10.1 Poongsan Corporation Corporation Information
12.10.2 Poongsan Corporation Business Overview
12.10.3 Poongsan Corporation Artillery Shells Product Models, Descriptions and Specifications
12.10.4 Poongsan Corporation Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.10.5 Poongsan Corporation Recent Developments
12.11 MESKO
12.11.1 MESKO Corporation Information
12.11.2 MESKO Business Overview
12.11.3 MESKO Artillery Shells Product Models, Descriptions and Specifications
12.11.4 MESKO Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.11.5 MESKO Recent Developments
12.12 MKE
12.12.1 MKE Corporation Information
12.12.2 MKE Business Overview
12.12.3 MKE Artillery Shells Product Models, Descriptions and Specifications
12.12.4 MKE Artillery Shells Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.12.5 MKE Recent Developments
13 Value Chain and Supply-Chain Analysis
13.1 Artillery Shells Industry Chain
13.2 Artillery Shells Upstream Materials Analysis
13.2.1 Raw Materials
13.2.2 Key Suppliers Market Share & Risk Assessment
13.3 Artillery Shells Integrated Production Analysis
13.3.1 Manufacturing Footprint Analysis
13.3.2 Production Technology Overview
13.3.3 Regional Cost Drivers
13.4 Artillery Shells Sales Channels and Distribution Networks
13.4.1 Sales Channels
13.4.2 Distributors
14 Artillery Shells Market Dynamics
14.1 Industry Trends and Evolution
14.2 Market Growth Drivers and Emerging Opportunities
14.3 Market Challenges, Risks, and Restraints
15 Key Findings in the Global Artillery Shells Study
16 Appendix
16.1 Research Methodology
16.1.1 Methodology/Research Approach
16.1.1.1 Research Programs/Design
16.1.1.2 Market Size Estimation
16.1.1.3 Market Breakdown and Data Triangulation
16.1.2 Data Source
16.1.2.1 Secondary Sources
16.1.2.2 Primary Sources
16.2 Author Details
TABLE OF FIGURES
List of Tables
Table 1. Global Artillery Shells Market Size Growth Rate by Type, 2020 VS 2024 VS 2031 (US$ Million)
Table 2. Global Artillery Shells Market Size Growth Rate by Application, 2020 VS 2024 VS 2031 (US$ Million)
Table 3. Global Artillery Shells Revenue Grow Rate (CAGR) by Region: 2020 VS 2024 VS 2031 (US$ Million)
Table 4. Global Artillery Shells Revenue by Region (2020-2025) & (US$ Million)
Table 5. Global Artillery Shells Revenue by Region (2026-2031) & (US$ Million)
Table 6. Global Artillery Shells Sales Grow Rate (CAGR) by Region: 2020 VS 2024 VS 2031 (K Rounds)
Table 7. Global Artillery Shells Sales by Region (2020-2025) & (K Rounds)
Table 8. Global Artillery Shells Sales by Region (2026-2031) & (K Rounds)
Table 9. Emerging Market Revenue Grow Rate (CAGR) by Country (2020 VS 2024 VS 2031) (US$ Million)
Table 10. Global Artillery Shells Production Growth Rate (CAGR) by Region: 2020 VS 2024 VS 2031 (K Rounds)
Table 11. Global Artillery Shells Production by Region (2020-2025) & (K Rounds)
Table 12. Global Artillery Shells Production by Region (2026-2031) & (K Rounds)
Table 13. Global Artillery Shells Sales by Manufacturers (2020-2025) & (K Rounds)
Table 14. Global Artillery Shells Sales Share by Manufacturers (2020-2025)
Table 15. Global Artillery Shells Revenue by Manufacturers (2020-2025) & (US$ Million)
Table 16. Global Artillery Shells Revenue Market Share by Manufacturers (2020-2025)
Table 17. Global Key Manufacturers’Ranking Shift (2023 vs. 2024) (Based on Revenue)
Table 18. Global Artillery Shells by Manufacturer Tier (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Artillery Shells as of 2024)
Table 19. Global Artillery Shells Average Gross Margin (%) by Manufacturer (2020 VS 2024)
Table 20. Global Artillery Shells Average Selling Price (ASP) by Manufacturers (2020-2025) & (US$/Round)
Table 21. Key Manufacturers Artillery Shells Manufacturing Base and Headquarters
Table 22. Global Artillery Shells Market Concentration Ratio (CR5 and HHI)
Table 23. Key Market Entrant/Exit (2020-2024) – Drivers & Impact Analysis
Table 24. Key Mergers & Acquisitions, Expansion Plans, R&D Investment
Table 25. Global Artillery Shells Sales by Type (2020-2025) & (K Rounds)
Table 26. Global Artillery Shells Sales by Type (2026-2031) & (K Rounds)
Table 27. Global Artillery Shells Revenue by Type (2020-2025) & (US$ Million)
Table 28. Global Artillery Shells Revenue by Type (2026-2031) & (US$ Million)
Table 29. Global Artillery Shells ASP by Type (2020-2031) & (US$/Round)
Table 30. Technical Specifications by Key Product Type
Table 31. Global Artillery Shells Sales by Application (2020-2025) & (K Rounds)
Table 32. Global Artillery Shells Sales by Application (2026-2031) & (K Rounds)
Table 33. Artillery Shells High-Growth Sectors Demand CAGR (2024-2031)
Table 34. Global Artillery Shells Revenue by Application (2020-2025) & (US$ Million)
Table 35. Global Artillery Shells Revenue by Application (2026-2031) & (US$ Million)
Table 36. Global Artillery Shells ASP by Application (2020-2031) & (US$/Round)
Table 37. Top Customers by Region
Table 38. Top Customers by Application
Table 39. North America Artillery Shells Growth Accelerators and Market Barriers
Table 40. North America Artillery Shells Revenue Grow Rate (CAGR) by Country (2020 VS 2024 VS 2031) (US$ Million)
Table 41. North America Artillery Shells Sales (K Rounds) by Country (2020 VS 2024 VS 2031)
Table 42. Europe Artillery Shells Growth Accelerators and Market Barriers
Table 43. Europe Artillery Shells Revenue Grow Rate (CAGR) by Country: 2020 VS 2024 VS 2031 (US$ Million)
Table 44. Europe Artillery Shells Sales (K Rounds) by Country (2020 VS 2024 VS 2031)
Table 45. Asia-Pacific Artillery Shells Revenue Grow Rate (CAGR) by Region: 2020 VS 2024 VS 2031 (US$ Million)
Table 46. Asia-Pacific Artillery Shells Sales (K Rounds) by Country (2020 VS 2024 VS 2031)
Table 47. Asia-Pacific Artillery Shells Growth Accelerators and Market Barriers
Table 48. Southeast Asia Artillery Shells Revenue Grow Rate (CAGR) by Region: 2020 VS 2024 VS 2031 (US$ Million)
Table 49. Central and South America Artillery Shells Investment Opportunities and Key Challenges
Table 50. Central and South America Artillery Shells Revenue Grow Rate (CAGR) by Country (2020 VS 2024 VS 2031) (US$ Million)
Table 51. Middle East and Africa Artillery Shells Investment Opportunities and Key Challenges
Table 52. Middle East and Africa Artillery Shells Revenue Grow Rate (CAGR) by Country (2020 VS 2024 VS 2031) (US$ Million)
Table 53. General Dynamics Corporation Information
Table 54. General Dynamics Description and Major Businesses
Table 55. General Dynamics Product Models, Descriptions and Specifications
Table 56. General Dynamics Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 57. General Dynamics Sales Value Proportion by Product in 2024
Table 58. General Dynamics Sales Value Proportion by Application in 2024
Table 59. General Dynamics Sales Value Proportion by Geographic Area in 2024
Table 60. General Dynamics Artillery Shells SWOT Analysis
Table 61. General Dynamics Recent Developments
Table 62. Nammo Corporation Information
Table 63. Nammo Description and Major Businesses
Table 64. Nammo Product Models, Descriptions and Specifications
Table 65. Nammo Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 66. Nammo Sales Value Proportion by Product in 2024
Table 67. Nammo Sales Value Proportion by Application in 2024
Table 68. Nammo Sales Value Proportion by Geographic Area in 2024
Table 69. Nammo Artillery Shells SWOT Analysis
Table 70. Nammo Recent Developments
Table 71. KNDS Corporation Information
Table 72. KNDS Description and Major Businesses
Table 73. KNDS Product Models, Descriptions and Specifications
Table 74. KNDS Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 75. KNDS Sales Value Proportion by Product in 2024
Table 76. KNDS Sales Value Proportion by Application in 2024
Table 77. KNDS Sales Value Proportion by Geographic Area in 2024
Table 78. KNDS Artillery Shells SWOT Analysis
Table 79. KNDS Recent Developments
Table 80. BAE Systems Corporation Information
Table 81. BAE Systems Description and Major Businesses
Table 82. BAE Systems Product Models, Descriptions and Specifications
Table 83. BAE Systems Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 84. BAE Systems Sales Value Proportion by Product in 2024
Table 85. BAE Systems Sales Value Proportion by Application in 2024
Table 86. BAE Systems Sales Value Proportion by Geographic Area in 2024
Table 87. BAE Systems Artillery Shells SWOT Analysis
Table 88. BAE Systems Recent Developments
Table 89. Elbit Systems Corporation Information
Table 90. Elbit Systems Description and Major Businesses
Table 91. Elbit Systems Product Models, Descriptions and Specifications
Table 92. Elbit Systems Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 93. Elbit Systems Sales Value Proportion by Product in 2024
Table 94. Elbit Systems Sales Value Proportion by Application in 2024
Table 95. Elbit Systems Sales Value Proportion by Geographic Area in 2024
Table 96. Elbit Systems Artillery Shells SWOT Analysis
Table 97. Elbit Systems Recent Developments
Table 98. Day & Zimmermann Corporation Information
Table 99. Day & Zimmermann Description and Major Businesses
Table 100. Day & Zimmermann Product Models, Descriptions and Specifications
Table 101. Day & Zimmermann Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 102. Day & Zimmermann Recent Developments
Table 103. Rheinmetall Corporation Information
Table 104. Rheinmetall Description and Major Businesses
Table 105. Rheinmetall Product Models, Descriptions and Specifications
Table 106. Rheinmetall Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 107. Rheinmetall Recent Developments
Table 108. Rostec Corporation Information
Table 109. Rostec Description and Major Businesses
Table 110. Rostec Product Models, Descriptions and Specifications
Table 111. Rostec Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 112. Rostec Recent Developments
Table 113. NORINCO Corporation Information
Table 114. NORINCO Description and Major Businesses
Table 115. NORINCO Product Models, Descriptions and Specifications
Table 116. NORINCO Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 117. NORINCO Recent Developments
Table 118. Poongsan Corporation Corporation Information
Table 119. Poongsan Corporation Description and Major Businesses
Table 120. Poongsan Corporation Product Models, Descriptions and Specifications
Table 121. Poongsan Corporation Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 122. Poongsan Corporation Recent Developments
Table 123. MESKO Corporation Information
Table 124. MESKO Description and Major Businesses
Table 125. MESKO Product Models, Descriptions and Specifications
Table 126. MESKO Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 127. MESKO Recent Developments
Table 128. MKE Corporation Information
Table 129. MKE Description and Major Businesses
Table 130. MKE Product Models, Descriptions and Specifications
Table 131. MKE Capacity, Sales (K Rounds), Revenue (US$ Million), Price (US$/Round) and Gross Margin (2020-2025)
Table 132. MKE Recent Developments
Table 133. Key Raw Materials Distribution
Table 134. Raw Materials Key Suppliers
Table 135. Critical Raw Material Supplier Concentration (2024) & Risk Index
Table 136. Milestones in Production Technology Evolution
Table 137. Distributors List
Table 138. Market Trends and Market Evolution
Table 139. Market Drivers and Opportunities
Table 140. Market Challenges, Risks, and Restraints
Table 141. Research Programs/Design for This Report
Table 142. Key Data Information from Secondary Sources
Table 143. Key Data Information from Primary Sources
List of Figures
Figure 1. Artillery Shells Product Picture
Figure 2. Global Artillery Shells Market Size Growth Rate by Type, 2020 VS 2024 VS 2031 (US$ Million)
Figure 3. 155mm Product Picture
Figure 4. 152mm Product Picture
Figure 5. 122mm Product Picture
Figure 6. 105mm Product Picture
Figure 7. Other Product Picture
Figure 8. Global Artillery Shells Market Size Growth Rate by Application, 2020 VS 2024 VS 2031 (US$ Million)
Figure 9. High-Explosive (HE)
Figure 10. Smoke
Figure 11. Illumination
Figure 12. Training Rounds
Figure 13. Other
Figure 14. Artillery Shells Report Years Considered
Figure 15. Global Artillery Shells Revenue, (US$ Million), 2020 VS 2024 VS 2031
Figure 16. Global Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 17. Global Artillery Shells Revenue (CAGR) by Region: 2020 VS 2024 VS 2031 (US$ Million)
Figure 18. Global Artillery Shells Revenue Market Share by Region (2020-2031)
Figure 19. Global Artillery Shells Sales (2020-2031) & (K Rounds)
Figure 20. Global Artillery Shells Sales (CAGR) by Region (2020-2031) (K Rounds)
Figure 21. Global Artillery Shells Sales Market Share by Region (2020-2031)
Figure 22. Global Artillery Shells Capacity, Production and Utilization (2020-2031) & (K Rounds)
Figure 23. Global Artillery Shells Production Trend by Region (2020-2031) (K Rounds)
Figure 24. Global Artillery Shells Production Market Share by Region (2020-2031)
Figure 25. Production Capacity Enablers & Constraints
Figure 26. Artillery Shells Production Growth Rate in North America (2020-2031) & (K Rounds)
Figure 27. Artillery Shells Production Growth Rate in Europe (2020-2031) & (K Rounds)
Figure 28. Artillery Shells Production Growth Rate in China (2020-2031) & (K Rounds)
Figure 29. Artillery Shells Production Growth Rate in Japan (2020-2031) & (K Rounds)
Figure 30. Top 5 and Top 10 Manufacturers Artillery Shells Sales Volume Market Share in 2024
Figure 31. Global Artillery Shells Revenue Market Share Ranking (2024)
Figure 32. Tier Distribution by Revenue Contribution (2020 VS 2024)
Figure 33. 155mm Revenue Market Share by Manufacturer in 2024
Figure 34. 152mm Revenue Market Share by Manufacturer in 2024
Figure 35. 122mm Revenue Market Share by Manufacturer in 2024
Figure 36. 105mm Revenue Market Share by Manufacturer in 2024
Figure 37. Other Revenue Market Share by Manufacturer in 2024
Figure 38. Type Eight Revenue Market Share by Manufacturer in 2024
Figure 39. Type Nine Revenue Market Share by Manufacturer in 2024
Figure 40. Global Artillery Shells Sales Market Share by Type (2020-2031)
Figure 41. Global Artillery Shells Revenue Market Share by Type (2020-2031)
Figure 42. Global Artillery Shells Sales Market Share by Application (2020-2031)
Figure 43. Global Artillery Shells Revenue Market Share by Application (2020-2031)
Figure 44. North America Artillery Shells Sales YoY (2020-2031) & (K Rounds)
Figure 45. North America Artillery Shells Revenue YoY (2020-2031) & (US$ Million)
Figure 46. North America Top 5 Manufacturers Artillery Shells Sales Revenue (US$ Million) in 2024
Figure 47. North America Artillery Shells Sales Volume (K Rounds) by Type (2020- 2031)
Figure 48. North America Artillery Shells Sales Revenue (US$ Million) by Type (2020 - 2031)
Figure 49. North America Artillery Shells Sales Volume (K Rounds) by Application (2020-2031)
Figure 50. North America Artillery Shells Sales Revenue (US$ Million) by Application (2020-2031)
Figure 51. US Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 52. Canada Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 53. Mexico Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 54. Europe Artillery Shells Sales YoY (2020-2031) & (K Rounds)
Figure 55. Europe Artillery Shells Revenue YoY (2020-2031) & (US$ Million)
Figure 56. Europe Top 5 Manufacturers Artillery Shells Sales Revenue (US$ Million) in 2024
Figure 57. Europe Artillery Shells Sales Volume (K Rounds) by Type (2020-2031)
Figure 58. Europe Artillery Shells Sales Revenue (US$ Million) by Type (2020-2031)
Figure 59. Europe Artillery Shells Sales Volume (K Rounds) by Application (2020-2031)
Figure 60. Europe Artillery Shells Sales Revenue (US$ Million) by Application (2020-2031)
Figure 61. Germany Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 62. France Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 63. U.K. Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 64. Italy Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 65. Russia Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 66. Asia-Pacific Artillery Shells Sales YoY (2020-2031) & (K Rounds)
Figure 67. Asia-Pacific Artillery Shells Revenue YoY (2020-2031) & (US$ Million)
Figure 68. Asia-Pacific Top 8 Manufacturers Artillery Shells Sales Revenue (US$ Million) in 2024
Figure 69. Asia-Pacific Artillery Shells Sales Volume (K Rounds) by Type (2020- 2031)
Figure 70. Asia-Pacific Artillery Shells Sales Revenue (US$ Million) by Type (2020- 2031)
Figure 71. Asia-Pacific Artillery Shells Sales Volume (K Rounds) by Application (2020-2031)
Figure 72. Asia-Pacific Artillery Shells Sales Revenue (US$ Million) by Application (2020-2031)
Figure 73. Indonesia Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 74. Japan Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 75. South Korea Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 76. China Taiwan Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 77. India Artillery Shells Revenue (2020-2031) & (US$ Million)
Figure 78. Central and South America Artillery Shells Sales YoY (2020-2031) & (K Rounds)
Figure 79. Central and South America Artillery Shells Revenue YoY (2020-2031) & (US$ Million)
Figure 80. Central and South America Top 5 Manufacturers Artillery Shells Sales Revenue (US$ Million) in 2024
Figure 81. Central and South America Artillery Shells Sales Volume (K Rounds) by Type (2021-2031)
Figure 82. Central and South America Artillery Shells Sales Revenue (US$ Million) by Type (2020-2031)
Figure 83. Central and South America Artillery Shells Sales Volume (K Rounds) by Application (2020-2031)
Figure 84. Central and South America Artillery Shells Sales Revenue (US$ Million) by Application (2020-2031)
Figure 85. Brazil Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 86. Argentina Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 87. Middle East, and Africa Artillery Shells Sales YoY (2020-2031) & (K Rounds)
Figure 88. Middle East and Africa Artillery Shells Revenue YoY (2020-2031) & (US$ Million)
Figure 89. Middle East and Africa Top 5 Manufacturers Artillery Shells Sales Revenue (US$ Million) in 2024
Figure 90. Middle East and Africa Artillery Shells Sales Volume (K Rounds) by Type (2021-2031)
Figure 91. South America Artillery Shells Sales Revenue (US$ Million) by Type (2020-2031)
Figure 92. Middle East and Africa Artillery Shells Sales Volume (K Rounds) by Application (2020-2031)
Figure 93. Middle East and Africa Artillery Shells Sales Revenue (US$ Million) by Application (2020-2031)
Figure 94. GCC Countries Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 95. Turkey Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 96. Egypt Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 97. South Africa Artillery Shells Revenue (2020-2025) & (US$ Million)
Figure 98. Artillery Shells Industry Chain Mapping
Figure 99. Regional Artillery Shells Manufacturing Base Distribution (%)
Figure 100. Artillery Shells Production Process
Figure 101. Regional Artillery Shells Production Cost Structure
Figure 102. Channels of Distribution (Direct Vs Distribution)
Figure 103. Bottom-up and Top-down Approaches for This Report
Figure 104. Data Triangulation
Figure 105. Key Executives Interviewed
KEY QUESTIONS ADDRESSED BY THE REPORT
What is the annual compound growth rate of the global Artillery Shells market size from 2025 to 2031?
The annual compound growth rate of the global Artillery Shells market is -22.04% 2025 to 2031.
What was the global market size of Artillery Shells in 2025?
Which companies rank high in the global Artillery Shells market?
What was the global market size of Artillery Shells in 2031?
Which region is expected to have the highest market share?
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