Market Overview: 30mm Medium Caliber Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on 30mm Medium Caliber Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
30mm Medium Caliber Market Insights 2024-30
The 30mm Medium Caliber Market is estimated to grow at a CAGR of around 4.5% during the forecast period 2024-30.
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Driving Innovation: Exploring the 30mm Medium Caliber Market and its Key Drivers
Global 30mm Medium Caliber Market Driver: Increasing Defense Budgets for Military Modernization & Upgrade of Ammunitions to Foster Market Growth
The Global 30mm Medium Caliber Market has been significantly driven by the continuous increase in defense budgets allocated for military modernization and the upgrading of ammunition. As nations globally prioritize bolstering their defense capabilities, there has been a heightened focus on enhancing the firepower and efficiency of military equipment, including weapons with a 30mm medium caliber. For instance,
- In 2022, American defense manufacturer Rheinmetall developed a new medium caliber 30MM X 173MK 340 MOD 0 Kinetic Energy Electronically Timed (KEET) airburst munition for the US Navy. The MK 340 KEET is derived from the NATO standards.
The surge in defense expenditures reflects a commitment to adopting advanced technologies and weaponry, fueling the demand for 30mm caliber systems across various defense applications, from aircraft to armored vehicles. This development is poised to foster substantial growth in the 30mm medium caliber sector as countries strive to maintain and enhance their military readiness in an evolving global security landscape.
Top Players in the 30mm Medium Caliber Market:
BAE Systems, CBC Defense, Denel PMP, Elbit Systems Land, KNDS NV, MSM Group SRO, Munitions India Limited, Nammo AS, Northrop Grumman, Rheinmetall AG, General Dynamics Ordnance and Tactical Systems, Nexter Group, Ruag Group, Arcon Partners Ltd., Arsenal, and others
30mm Medium Caliber Industry Recent Development:
- 2023: BAE Systems, the leading UK defense company, secured an additional USD 160 million order from the government for munitions amid the ongoing conflict in Ukraine, bringing the total contract value to USD 504.3 million. Initially signing a USD 344.3 million munitions contract in July, the government exercised an option to augment the supply by an additional USD 160 million.
- 2023: Munitions India Limited, an Indian firm, is reportedly providing Armenia with 150,000 grenades of 30 and 40 mm caliber, following a prior delivery of 5 million 7.62 mm caliber cartridges to Armenia two months ago.
Segmentation Analysis of 30mm Medium Caliber Market
30mm Medium Caliber Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Weapon Type
–Rotary Wing Aircrafts
–Infantry Fighting Vehicles (IFVs)
By Ammunition Type
-High Explosive Incendiary (HEI)
-High Explosive Incendiary-Tracer (HEI-T)
-High Explosive Incendiary/Tracer-Self Destruct (HEI/T-SD)
-Semi-Armor Piercing High Explosive Incendiary-Tracer/Self Destruct
- In the ever-evolving landscape of the 30mm medium caliber market, the High Explosive Incendiary (HEI) ammunition type stands out as the unequivocal leader.
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A Comprehensive Geographical Analysis:
-Middle East & Africa
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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