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Global Artillery Shells Market Research Report 2026
Published Date: 2026-04-28
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Report Code: QYRE-Auto-0C17931
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Global Artillery Shells Market Research Report 2026

Code: QYRE-Auto-0C17931
Report
2026-04-28
Pages:137
QYResearch
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DESCRIPTION
TABLE OF CONTENT
TABLES & FIGURES

Artillery Shells Market Size

The global Artillery Shells market was valued at US$ 18150 million in 2025 and is anticipated to reach US$ 3266 million by 2032, at a CAGR of -22.0% from 2026 to 2032.

Artillery Shells Market

Artillery Shells Market

The 2025 U.S. tariff policies introduce profound uncertainty into the global economic landscape. This report critically examines the implications of recent tariff adjustments and international strategic countermeasures on Artillery Shells competitive dynamics, regional economic interdependencies, and supply chain reconfigurations.
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.
This report delivers a comprehensive overview of the global Artillery Shells market, with both quantitative and qualitative analyses, to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current market, and make informed business decisions regarding Artillery Shells. The Artillery Shells market size, estimates, and forecasts are provided in terms of shipments (K Rounds) and revenue (US$ millions), with 2025 as the base year and historical and forecast data for 2021–2032.
The report segments the global Artillery Shells market comprehensively. Regional market sizes by Type, by Application, , and by company are also provided. For deeper insight, the report profiles the competitive landscape, key competitors, and their respective market rankings, and discusses technological trends and new product developments.
This report will assist Artillery Shells manufacturers, new entrants, and companies across the industry value chain with information on revenues, production, and average prices for the overall market and its sub-segments, by company, by Type, by Application, and by region.
Market Segmentation

Scope of Artillery Shells Market Report

Report Metric Details
Report Name Artillery Shells Market
Accounted market size in 2025 US$ 18150 million
Forecasted market size in 2032 US$ 3266 million
Base Year 2025
Forecasted years 2026 - 2032
Segment by Type
  • 155mm
  • 152mm
  • 122mm
  • 105mm
  • Other
by Application
  • High-Explosive (HE)
  • Smoke
  • Illumination
  • Training Rounds
  • Other
Production by Region
  • North America
  • Europe
  • China
  • Japan
Consumption by Region
  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, Taiwan)
  • Southeast Asia (India)
  • Latin America (Mexico, Brazil)
By Company General Dynamics, Nammo, KNDS, BAE Systems, Elbit Systems, Day & Zimmermann, Rheinmetall, Rostec, NORINCO, Poongsan Corporation, MESKO, MKE
Forecast units USD million in value
Report coverage Revenue and volume forecast, company share, competitive landscape, growth factors and trends

Chapter Outline

  • Chapter 1: Defines the scope of the report and presents an executive summary of market segments (by Type, by Application, , etc.), including the size of each segment and its future growth potential. It offers a high-level view of the current market and its likely evolution in the short, medium, and long term.
  • Chapter 2: Provides a detailed analysis of the competitive landscape for Artillery Shells manufacturers, including prices, production, value-based market shares, latest development plans, and information on mergers and acquisitions.
  • Chapter 3: Examines Artillery Shells production/output and value by region and country, providing a quantitative assessment of market size and growth potential for each region over the next six years.
  • Chapter 4: Analyzes Artillery Shells consumption at the regional and country levels. It quantifies market size and growth potential for each region and its key countries, and outlines market development, outlook, addressable space, and national production.
  • Chapter 5: Analyzes market segments by Type, covering the size and growth potential of each segment to help readers identify “blue ocean” opportunities.
  • Chapter 6: Analyzes market segments by Application, covering the size and growth potential of each segment to help readers identify “blue ocean” opportunities in downstream markets.
  • Chapter 7: Profiles key players, detailing the fundamentals of major companies, including product production/output, value, price, gross margin, product portfolio/introductions, and recent developments.
  • Chapter 8: Reviews the industry value chain, including upstream and downstream segments.
  • Chapter 9: Discusses market dynamics and recent developments, including drivers, restraints, challenges and risks for manufacturers, U.S. Tariffs and relevant policy analysis.
  • Chapter 10: Summarizes the key findings and conclusions of the report.

FAQ for this report

What is the Artillery Shells Market size in 2032?

Ans: The Artillery Shells Market size in 2032 will be US$ 3266 million.

Who are the main players in the Artillery Shells Market report?

Ans: The main players in the Artillery Shells Market are General Dynamics, Nammo, KNDS, BAE Systems, Elbit Systems, Day & Zimmermann, Rheinmetall, Rostec, NORINCO, Poongsan Corporation, MESKO, MKE

What are the Application segmentation covered in the Artillery Shells Market report?

Ans: The Applications covered in the Artillery Shells Market report are High-Explosive (HE), Smoke, Illumination, Training Rounds, Other

What are the Type segmentation covered in the Artillery Shells Market report?

Ans: The Types covered in the Artillery Shells Market report are 155mm, 152mm, 122mm, 105mm, Other

1 Artillery Shells Market Overview
1.1 Product Definition
1.2 Artillery Shells by Type
1.2.1 Global Artillery Shells Market Value Growth Rate Analysis by Type: 2025 vs 2032
1.2.2 155mm
1.2.3 152mm
1.2.4 122mm
1.2.5 105mm
1.2.6 Other
1.3 Artillery Shells by Application
1.3.1 Global Artillery Shells Market Value Growth Rate Analysis by Application: 2025 vs 2032
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 Global Market Growth Prospects
1.4.1 Global Artillery Shells Production Value Estimates and Forecasts (2021–2032)
1.4.2 Global Artillery Shells Production Capacity Estimates and Forecasts (2021–2032)
1.4.3 Global Artillery Shells Production Estimates and Forecasts (2021–2032)
1.4.4 Global Artillery Shells Market Average Price Estimates and Forecasts (2021–2032)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Artillery Shells Production Market Share by Manufacturers (2021–2026)
2.2 Global Artillery Shells Production Value Market Share by Manufacturers (2021–2026)
2.3 Global Key Players of Artillery Shells, Industry Ranking, 2024 vs 2025
2.4 Global Artillery Shells Market Share by Company Tier (Tier 1, Tier 2, Tier 3)
2.5 Global Artillery Shells Average Price by Manufacturers (2021–2026)
2.6 Global Key Manufacturers of Artillery Shells, Manufacturing Footprints and Headquarters
2.7 Global Key Manufacturers of Artillery Shells, Product Offerings and Applications
2.8 Global Key Manufacturers of Artillery Shells, Date of Entry into the Industry
2.9 Artillery Shells Market Competitive Situation and Trends
2.9.1 Artillery Shells Market Concentration Rate
2.9.2 Top 5 and Top 10 Global Artillery Shells Players Market Share by Revenue
2.10 Mergers & Acquisitions and Expansion
3 Artillery Shells Production by Region
3.1 Global Artillery Shells Production Value Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
3.2 Global Artillery Shells Production Value by Region (2021–2032)
3.2.1 Global Artillery Shells Production Value by Region (2021–2026)
3.2.2 Global Forecasted Production Value of Artillery Shells by Region (2027–2032)
3.3 Global Artillery Shells Production Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
3.4 Global Artillery Shells Production Volume by Region (2021–2032)
3.4.1 Global Artillery Shells Production by Region (2021–2026)
3.4.2 Global Forecasted Production of Artillery Shells by Region (2027–2032)
3.5 Global Artillery Shells Market Price Analysis by Region (2021–2026)
3.6 Global Artillery Shells Production, Value, and Year-over-Year Growth
3.6.1 North America Artillery Shells Production Value Estimates and Forecasts (2021–2032)
3.6.2 Europe Artillery Shells Production Value Estimates and Forecasts (2021–2032)
3.6.3 China Artillery Shells Production Value Estimates and Forecasts (2021–2032)
3.6.4 Japan Artillery Shells Production Value Estimates and Forecasts (2021–2032)
4 Artillery Shells Consumption by Region
4.1 Global Artillery Shells Consumption Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
4.2 Global Artillery Shells Consumption by Region (2021–2032)
4.2.1 Global Artillery Shells Consumption by Region (2021–2026)
4.2.2 Global Artillery Shells Forecasted Consumption by Region (2027–2032)
4.3 North America
4.3.1 North America Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.3.2 North America Artillery Shells Consumption by Country (2021–2032)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.4.2 Europe Artillery Shells Consumption by Country (2021–2032)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Artillery Shells Consumption Growth Rate by Region: 2021 vs 2025 vs 2032
4.5.2 Asia Pacific Artillery Shells Consumption by Region (2021–2032)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.6.2 Latin America, Middle East & Africa Artillery Shells Consumption by Country (2021–2032)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
4.6.6 GCC Countries
5 Segment by Type
5.1 Global Artillery Shells Production by Type (2021–2032)
5.1.1 Global Artillery Shells Production by Type (2021–2026)
5.1.2 Global Artillery Shells Production by Type (2027–2032)
5.1.3 Global Artillery Shells Production Market Share by Type (2021–2032)
5.2 Global Artillery Shells Production Value by Type (2021–2032)
5.2.1 Global Artillery Shells Production Value by Type (2021–2026)
5.2.2 Global Artillery Shells Production Value by Type (2027–2032)
5.2.3 Global Artillery Shells Production Value Market Share by Type (2021–2032)
5.3 Global Artillery Shells Price by Type (2021–2032)
6 Segment by Application
6.1 Global Artillery Shells Production by Application (2021–2032)
6.1.1 Global Artillery Shells Production by Application (2021–2026)
6.1.2 Global Artillery Shells Production by Application (2027–2032)
6.1.3 Global Artillery Shells Production Market Share by Application (2021–2032)
6.2 Global Artillery Shells Production Value by Application (2021–2032)
6.2.1 Global Artillery Shells Production Value by Application (2021–2026)
6.2.2 Global Artillery Shells Production Value by Application (2027–2032)
6.2.3 Global Artillery Shells Production Value Market Share by Application (2021–2032)
6.3 Global Artillery Shells Price by Application (2021–2032)
7 Key Companies Profiled
7.1 General Dynamics
7.1.1 General Dynamics Artillery Shells Company Information
7.1.2 General Dynamics Artillery Shells Product Portfolio
7.1.3 General Dynamics Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.1.4 General Dynamics Main Business and Markets Served
7.1.5 General Dynamics Recent Developments/Updates
7.2 Nammo
7.2.1 Nammo Artillery Shells Company Information
7.2.2 Nammo Artillery Shells Product Portfolio
7.2.3 Nammo Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.2.4 Nammo Main Business and Markets Served
7.2.5 Nammo Recent Developments/Updates
7.3 KNDS
7.3.1 KNDS Artillery Shells Company Information
7.3.2 KNDS Artillery Shells Product Portfolio
7.3.3 KNDS Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.3.4 KNDS Main Business and Markets Served
7.3.5 KNDS Recent Developments/Updates
7.4 BAE Systems
7.4.1 BAE Systems Artillery Shells Company Information
7.4.2 BAE Systems Artillery Shells Product Portfolio
7.4.3 BAE Systems Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.4.4 BAE Systems Main Business and Markets Served
7.4.5 BAE Systems Recent Developments/Updates
7.5 Elbit Systems
7.5.1 Elbit Systems Artillery Shells Company Information
7.5.2 Elbit Systems Artillery Shells Product Portfolio
7.5.3 Elbit Systems Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.5.4 Elbit Systems Main Business and Markets Served
7.5.5 Elbit Systems Recent Developments/Updates
7.6 Day & Zimmermann
7.6.1 Day & Zimmermann Artillery Shells Company Information
7.6.2 Day & Zimmermann Artillery Shells Product Portfolio
7.6.3 Day & Zimmermann Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.6.4 Day & Zimmermann Main Business and Markets Served
7.6.5 Day & Zimmermann Recent Developments/Updates
7.7 Rheinmetall
7.7.1 Rheinmetall Artillery Shells Company Information
7.7.2 Rheinmetall Artillery Shells Product Portfolio
7.7.3 Rheinmetall Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.7.4 Rheinmetall Main Business and Markets Served
7.7.5 Rheinmetall Recent Developments/Updates
7.8 Rostec
7.8.1 Rostec Artillery Shells Company Information
7.8.2 Rostec Artillery Shells Product Portfolio
7.8.3 Rostec Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.8.4 Rostec Main Business and Markets Served
7.8.5 Rostec Recent Developments/Updates
7.9 NORINCO
7.9.1 NORINCO Artillery Shells Company Information
7.9.2 NORINCO Artillery Shells Product Portfolio
7.9.3 NORINCO Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.9.4 NORINCO Main Business and Markets Served
7.9.5 NORINCO Recent Developments/Updates
7.10 Poongsan Corporation
7.10.1 Poongsan Corporation Artillery Shells Company Information
7.10.2 Poongsan Corporation Artillery Shells Product Portfolio
7.10.3 Poongsan Corporation Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.10.4 Poongsan Corporation Main Business and Markets Served
7.10.5 Poongsan Corporation Recent Developments/Updates
7.11 MESKO
7.11.1 MESKO Artillery Shells Company Information
7.11.2 MESKO Artillery Shells Product Portfolio
7.11.3 MESKO Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.11.4 MESKO Main Business and Markets Served
7.11.5 MESKO Recent Developments/Updates
7.12 MKE
7.12.1 MKE Artillery Shells Company Information
7.12.2 MKE Artillery Shells Product Portfolio
7.12.3 MKE Artillery Shells Production, Value, Price, and Gross Margin (2021–2026)
7.12.4 MKE Main Business and Markets Served
7.12.5 MKE Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Artillery Shells Industry Chain Analysis
8.2 Artillery Shells Raw Material Supply Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Artillery Shells Production Modes and Processes
8.4 Artillery Shells Sales and Marketing
8.4.1 Artillery Shells Sales Channels
8.4.2 Artillery Shells Distributors
8.5 Artillery Shells Customer Analysis
9 Artillery Shells Market Dynamics
9.1 Artillery Shells Industry Trends
9.2 Artillery Shells Market Drivers
9.3 Artillery Shells Market Challenges
9.4 Artillery Shells Market Restraints
9.5 Impact of U.S. Tariffs
10 Research Findings and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
List of Tables
 Table 1. Global Artillery Shells Market Value by Type (US$ Million), 2025 vs 2032
 Table 2. Global Artillery Shells Market Value by Application (US$ Million), 2025 vs 2032
 Table 3. Global Artillery Shells Production Capacity (K Rounds) by Manufacturers in 2025
 Table 4. Global Artillery Shells Production by Manufacturers (K Rounds), 2021–2026
 Table 5. Global Artillery Shells Production Market Share by Manufacturers (2021–2026)
 Table 6. Global Artillery Shells Production Value by Manufacturers (US$ Million), 2021–2026
 Table 7. Global Artillery Shells Production Value Share by Manufacturers (2021–2026)
 Table 8. Global Key Players of Artillery Shells, Industry Ranking, 2024 vs 2025
 Table 9. Classification of Companies by Tier (Tier 1, Tier 2, Tier 3), based on Artillery Shells Production Value, 2025
 Table 10. Global Market Artillery Shells Average Price by Manufacturers (US$/Round), 2021–2026
 Table 11. Global Key Manufacturers of Artillery Shells, Manufacturing Footprints and Headquarters
 Table 12. Global Key Manufacturers of Artillery Shells, Product Offerings and Applications
 Table 13. Global Key Manufacturers of Artillery Shells, Date of Entry into the Industry
 Table 14. Global Artillery Shells Manufacturers Market Concentration Ratio (CR5 and HHI)
 Table 15. Mergers & Acquisitions and Expansion Plans
 Table 16. Global Artillery Shells Production Value by Region: 2021 vs 2025 vs 2032 (US$ Million)
 Table 17. Global Artillery Shells Production Value (US$ Million) by Region (2021–2026)
 Table 18. Global Artillery Shells Production Value Market Share by Region (2021–2026)
 Table 19. Global Artillery Shells Production Value (US$ Million) Forecast by Region (2027–2032)
 Table 20. Global Artillery Shells Production Value Market Share Forecast by Region (2027–2032)
 Table 21. Global Artillery Shells Production Comparison by Region: 2021 vs 2025 vs 2032 (K Rounds)
 Table 22. Global Artillery Shells Production (K Rounds) by Region (2021–2026)
 Table 23. Global Artillery Shells Production Market Share by Region (2021–2026)
 Table 24. Global Artillery Shells Production (K Rounds) Forecast by Region (2027–2032)
 Table 25. Global Artillery Shells Production Market Share Forecast by Region (2027–2032)
 Table 26. Global Artillery Shells Market Average Price (US$/Round) by Region (2021–2026)
 Table 27. Global Artillery Shells Market Average Price (US$/Round) by Region (2027–2032)
 Table 28. Global Artillery Shells Consumption Growth Rate by Region: 2021 vs 2025 vs 2032 (K Rounds)
 Table 29. Global Artillery Shells Consumption by Region (K Rounds), 2021–2026
 Table 30. Global Artillery Shells Consumption Market Share by Region (2021–2026)
 Table 31. Global Artillery Shells Forecasted Consumption by Region (K Rounds), 2027–2032
 Table 32. Global Artillery Shells Forecasted Consumption Market Share by Region (2027–2032)
 Table 33. North America Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032 (K Rounds)
 Table 34. North America Artillery Shells Consumption by Country (K Rounds), 2021–2026
 Table 35. North America Artillery Shells Consumption by Country (K Rounds), 2027–2032
 Table 36. Europe Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032 (K Rounds)
 Table 37. Europe Artillery Shells Consumption by Country (K Rounds), 2021–2026
 Table 38. Europe Artillery Shells Consumption by Country (K Rounds), 2027–2032
 Table 39. Asia Pacific Artillery Shells Consumption Growth Rate by Region: 2021 vs 2025 vs 2032 (K Rounds)
 Table 40. Asia Pacific Artillery Shells Consumption by Region (K Rounds), 2021–2026
 Table 41. Asia Pacific Artillery Shells Consumption by Region (K Rounds), 2027–2032
 Table 42. Latin America, Middle East & Africa Artillery Shells Consumption Growth Rate by Country: 2021 vs 2025 vs 2032 (K Rounds)
 Table 43. Latin America, Middle East & Africa Artillery Shells Consumption by Country (K Rounds), 2021–2026
 Table 44. Latin America, Middle East & Africa Artillery Shells Consumption by Country (K Rounds), 2027–2032
 Table 45. Global Artillery Shells Production (K Rounds) by Type (2021–2026)
 Table 46. Global Artillery Shells Production (K Rounds) by Type (2027–2032)
 Table 47. Global Artillery Shells Production Market Share by Type (2021–2026)
 Table 48. Global Artillery Shells Production Market Share by Type (2027–2032)
 Table 49. Global Artillery Shells Production Value (US$ Million) by Type (2021–2026)
 Table 50. Global Artillery Shells Production Value (US$ Million) by Type (2027–2032)
 Table 51. Global Artillery Shells Production Value Market Share by Type (2021–2026)
 Table 52. Global Artillery Shells Production Value Market Share by Type (2027–2032)
 Table 53. Global Artillery Shells Price (US$/Round) by Type (2021–2026)
 Table 54. Global Artillery Shells Price (US$/Round) by Type (2027–2032)
 Table 55. Global Artillery Shells Production (K Rounds) by Application (2021–2026)
 Table 56. Global Artillery Shells Production (K Rounds) by Application (2027–2032)
 Table 57. Global Artillery Shells Production Market Share by Application (2021–2026)
 Table 58. Global Artillery Shells Production Market Share by Application (2027–2032)
 Table 59. Global Artillery Shells Production Value (US$ Million) by Application (2021–2026)
 Table 60. Global Artillery Shells Production Value (US$ Million) by Application (2027–2032)
 Table 61. Global Artillery Shells Production Value Market Share by Application (2021–2026)
 Table 62. Global Artillery Shells Production Value Market Share by Application (2027–2032)
 Table 63. Global Artillery Shells Price (US$/Round) by Application (2021–2026)
 Table 64. Global Artillery Shells Price (US$/Round) by Application (2027–2032)
 Table 65. General Dynamics Artillery Shells Company Information
 Table 66. General Dynamics Artillery Shells Specification and Application
 Table 67. General Dynamics Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 68. General Dynamics Main Business and Markets Served
 Table 69. General Dynamics Recent Developments/Updates
 Table 70. Nammo Artillery Shells Company Information
 Table 71. Nammo Artillery Shells Specification and Application
 Table 72. Nammo Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 73. Nammo Main Business and Markets Served
 Table 74. Nammo Recent Developments/Updates
 Table 75. KNDS Artillery Shells Company Information
 Table 76. KNDS Artillery Shells Specification and Application
 Table 77. KNDS Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 78. KNDS Main Business and Markets Served
 Table 79. KNDS Recent Developments/Updates
 Table 80. BAE Systems Artillery Shells Company Information
 Table 81. BAE Systems Artillery Shells Specification and Application
 Table 82. BAE Systems Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 83. BAE Systems Main Business and Markets Served
 Table 84. BAE Systems Recent Developments/Updates
 Table 85. Elbit Systems Artillery Shells Company Information
 Table 86. Elbit Systems Artillery Shells Specification and Application
 Table 87. Elbit Systems Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 88. Elbit Systems Main Business and Markets Served
 Table 89. Elbit Systems Recent Developments/Updates
 Table 90. Day & Zimmermann Artillery Shells Company Information
 Table 91. Day & Zimmermann Artillery Shells Specification and Application
 Table 92. Day & Zimmermann Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 93. Day & Zimmermann Main Business and Markets Served
 Table 94. Day & Zimmermann Recent Developments/Updates
 Table 95. Rheinmetall Artillery Shells Company Information
 Table 96. Rheinmetall Artillery Shells Specification and Application
 Table 97. Rheinmetall Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 98. Rheinmetall Main Business and Markets Served
 Table 99. Rheinmetall Recent Developments/Updates
 Table 100. Rostec Artillery Shells Company Information
 Table 101. Rostec Artillery Shells Specification and Application
 Table 102. Rostec Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 103. Rostec Main Business and Markets Served
 Table 104. Rostec Recent Developments/Updates
 Table 105. NORINCO Artillery Shells Company Information
 Table 106. NORINCO Artillery Shells Specification and Application
 Table 107. NORINCO Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 108. NORINCO Main Business and Markets Served
 Table 109. NORINCO Recent Developments/Updates
 Table 110. Poongsan Corporation Artillery Shells Company Information
 Table 111. Poongsan Corporation Artillery Shells Specification and Application
 Table 112. Poongsan Corporation Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 113. Poongsan Corporation Main Business and Markets Served
 Table 114. Poongsan Corporation Recent Developments/Updates
 Table 115. MESKO Artillery Shells Company Information
 Table 116. MESKO Artillery Shells Specification and Application
 Table 117. MESKO Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 118. MESKO Main Business and Markets Served
 Table 119. MESKO Recent Developments/Updates
 Table 120. MKE Artillery Shells Company Information
 Table 121. MKE Artillery Shells Specification and Application
 Table 122. MKE Artillery Shells Production (K Rounds), Value (US$ Million), Price (US$/Round) and Gross Margin (2021–2026)
 Table 123. MKE Main Business and Markets Served
 Table 124. MKE Recent Developments/Updates
 Table 125. Key Raw Materials Lists
 Table 126. Raw Materials Key Suppliers Lists
 Table 127. Artillery Shells Distributors List
 Table 128. Artillery Shells Customers List
 Table 129. Artillery Shells Market Trends
 Table 130. Artillery Shells Market Drivers
 Table 131. Artillery Shells Market Challenges
 Table 132. Artillery Shells Market Restraints
 Table 133. Research Programs/Design for This Report
 Table 134. Key Data Information from Secondary Sources
 Table 135. Key Data Information from Primary Sources
 Table 136. Authors List of This Report


List of Figures
 Figure 1. Product Picture of Artillery Shells
 Figure 2. Global Artillery Shells Market Value by Type (US$ Million), 2021–2032
 Figure 3. Global Artillery Shells Market Share by Type: 2025 vs 2032
 Figure 4. 155mm Product Picture
 Figure 5. 152mm Product Picture
 Figure 6. 122mm Product Picture
 Figure 7. 105mm Product Picture
 Figure 8. Other Product Picture
 Figure 9. Global Artillery Shells Market Value by Application (US$ Million), 2021–2032
 Figure 10. Global Artillery Shells Market Share by Application: 2025 vs 2032
 Figure 11. High-Explosive (HE)
 Figure 12. Smoke
 Figure 13. Illumination
 Figure 14. Training Rounds
 Figure 15. Other
 Figure 16. Global Artillery Shells Production Value (US$ Million), 2021 vs 2025 vs 2032
 Figure 17. Global Artillery Shells Production Value (US$ Million), 2021–2032
 Figure 18. Global Artillery Shells Production Capacity (K Rounds), 2021–2032
 Figure 19. Global Artillery Shells Production (K Rounds), 2021–2032
 Figure 20. Global Artillery Shells Average Price (US$/Round), 2021–2032
 Figure 21. Artillery Shells Report Years Considered
 Figure 22. Artillery Shells Production Share by Manufacturers in 2025
 Figure 23. Global Artillery Shells Production Value Share by Manufacturers (2025)
 Figure 24. Artillery Shells Market Share by Company Type (Tier 1, Tier 2, and Tier 3): 2021 vs 2025
 Figure 25. Top 5 and Top 10 Global Players: Market Share by Artillery Shells Revenue in 2025
 Figure 26. Global Artillery Shells Production Value by Region: 2021 vs 2025 vs 2032 (US$ Million)
 Figure 27. Global Artillery Shells Production Value Market Share by Region: 2021 vs 2025 vs 2032
 Figure 28. Global Artillery Shells Production Comparison by Region: 2021 vs 2025 vs 2032 (K Rounds)
 Figure 29. Global Artillery Shells Production Market Share by Region: 2021 vs 2025 vs 2032
 Figure 30. North America Artillery Shells Production Value (US$ Million) Growth Rate (2021–2032)
 Figure 31. Europe Artillery Shells Production Value (US$ Million) Growth Rate (2021–2032)
 Figure 32. China Artillery Shells Production Value (US$ Million) Growth Rate (2021–2032)
 Figure 33. Japan Artillery Shells Production Value (US$ Million) Growth Rate (2021–2032)
 Figure 34. Global Artillery Shells Consumption by Region: 2021 vs 2025 vs 2032 (K Rounds)
 Figure 35. Global Artillery Shells Consumption Market Share by Region: 2021 vs 2025 vs 2032
 Figure 36. North America Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 37. North America Artillery Shells Consumption Market Share by Country (2021–2032)
 Figure 38. U.S. Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 39. Canada Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 40. Europe Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 41. Europe Artillery Shells Consumption Market Share by Country (2021–2032)
 Figure 42. Germany Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 43. France Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 44. U.K. Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 45. Italy Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 46. Russia Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 47. Asia Pacific Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 48. Asia Pacific Artillery Shells Consumption Market Share by Region (2021–2032)
 Figure 49. China Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 50. Japan Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 51. South Korea Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 52. China Taiwan Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 53. Southeast Asia Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 54. India Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 55. Latin America, Middle East & Africa Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 56. Latin America, Middle East & Africa Artillery Shells Consumption Market Share by Country (2021–2032)
 Figure 57. Mexico Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 58. Brazil Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 59. Turkey Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 60. GCC Countries Artillery Shells Consumption and Growth Rate (K Rounds), 2021–2032
 Figure 61. Global Production Market Share of Artillery Shells by Type (2021–2032)
 Figure 62. Global Production Value Market Share of Artillery Shells by Type (2021–2032)
 Figure 63. Global Artillery Shells Price (US$/Round) by Type (2021–2032)
 Figure 64. Global Production Market Share of Artillery Shells by Application (2021–2032)
 Figure 65. Global Production Value Market Share of Artillery Shells by Application (2021–2032)
 Figure 66. Global Artillery Shells Price (US$/Round) by Application (2021–2032)
 Figure 67. Artillery Shells Value Chain
 Figure 68. Channels of Distribution (Direct Vs Distribution)
 Figure 69. Bottom-up and Top-down Approaches for This Report
 Figure 70. Data Triangulation
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