The Global Medium Caliber Ammunition Market was valued at USD 1.13 Billion in 2023 and is projected to reach USD 1.34 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 2.4% during the forecast period (2024–2030). This steady growth is propelled by rising global defense expenditures, modernization programs for military ground vehicles and naval vessels, and an increased focus on precision-strike capabilities.

As geopolitical tensions and the need for advanced military readiness intensify, the spotlight falls on the key manufacturers driving innovation, reliability, and tactical superiority. In this blog, we profile the Top 10 Companies in the Medium Caliber Ammunition Industry— a group of established defense contractors and specialized producers shaping the future of global security.

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🔟 1. IMI Systems (a subsidiary of Elbit Systems Ltd.)

Headquarters: Ramat HaSharon, Israel
Key Offering: 30mm, 40mm grenades, tank ammunition, and advanced mortar systems

IMI Systems, now fully integrated into Elbit Systems, is a globally recognized leader in defense technology. The company specializes in the development and production of a wide array of medium caliber ammunition, known for its high reliability and lethality. Its products are integral to the armed forces of numerous countries, supporting infantry, armored, and naval operations.

Innovation & Capabilities:

• Pioneer in airburst and programmable ammunition technologies

• Extensive portfolio for main battle tanks and infantry fighting vehicles

• Strong focus on R&D for next-generation smart munitions

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9️⃣ 2. Northrop Grumman Corporation

Headquarters: Falls Church, Virginia, USA
Key Offering: 30mm x 173mm ammunition, linkless feed systems, and medium caliber training rounds

Northrop Grumman is a premier global security company providing innovative systems and products. Its medium caliber ammunition division is critical for advanced combat vehicles and aerial platforms, including the Apache helicopter. The company is renowned for its integration of ammunition with sophisticated weapon systems.

Innovation & Capabilities:

• Leading supplier of 30mm ammunition for the U.S. Department of Defense and allied nations

• Expertise in developing high-velocity, armor-piercing rounds

• Advanced manufacturing for enhanced precision and reliability

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8️⃣ 3. Nammo AS

Headquarters: Raufoss, Norway
Key Offering: 20mm to 40mm ammunition, medium caliber cannons, and multipurpose ammunition

Nammo is a Scandinavian aerospace and defense company specializing in ammunition and rocket propulsion systems. It is a key player in the European and NATO medium caliber ammunition markets, known for its environmentally focused production processes and high-quality products used in air, land, and sea applications.

Innovation & Capabilities:

• Development of reduced-range training ammunition for urban environments

• Significant investments in insensitive munitions (IM) technology for enhanced safety

• Long-standing supplier to NATO member countries

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7️⃣ 4. General Dynamics Ordnance and Tactical Systems

Headquarters: St. Petersburg, Florida, USA
Key Offering: 25mm, 30mm, 40mm ammunition, and medium caliber cartridge cases

As a business unit of General Dynamics, this division is a leading designer and manufacturer of medium and large caliber ammunition. It serves the U.S. military and its allies with a comprehensive range of products known for their performance in demanding combat conditions, from infantry weapons to vehicle-mounted cannons.

Innovation & Capabilities:

• High-volume production capacity for standard NATO calibers

• Expertise in metal parts fabrication and advanced energetic materials

• Active in lifecycle management and modernization of existing ammunition stockpiles

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6️⃣ 5. Rheinmetall AG

Headquarters: Düsseldorf, Germany
Key Offering: 27mm, 30mm, 35mm airburst ammunition, and the MK20 Rh202 cannon system

Rheinmetall is a German automotive and defense giant with a formidable presence in the ammunition sector. The company is a technological leader, particularly famous for its 35mm Ahead (Advanced Hit Efficiency and Destruction) airburst ammunition, which provides superior effectiveness against aerial threats and light armor.

Innovation & Capabilities:

• World-leading airburst technology for enhanced target effects

• Integrated approach, producing both the ammunition and the gun systems

• Major supplier to the German Bundeswehr and numerous international armed forces

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5️⃣ 6. BAE Systems plc

Headquarters: London, United Kingdom
Key Offering: 30mm ammunition for the Bushmaster chain gun, 40mm grenades, and naval ammunition

BAE Systems is a British multinational defense, security, and aerospace company. Its weapons division is a critical supplier of medium caliber ammunition, particularly for the widely used Bushmaster cannon. The company focuses on delivering sustained and reliable firepower for ground combat vehicles and naval vessels.

Innovation & Capabilities:

• Long-term partner for the U.S. Army and Marine Corps ammunition programs

• Continuous improvement of ammunition for increased range and accuracy

• Global logistics and support network for allied military forces

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4️⃣ 7. Nexter Systems (KNDS Group)

Headquarters: Versailles, France
Key Offering: 20mm, 25mm, 30mm ammunition, and ammunition for the CT40 cannon

Nexter Systems, part of the KNDS Group (a Franco-German joint venture), is France’s leading land defense systems company. It manufactures a complete range of medium caliber ammunition, often designed to work seamlessly with its own gun systems, such as those mounted on the Jaguar armored vehicle and other platforms.

Innovation & Capabilities:

• Developer of cased telescoped ammunition technology for the CT40 cannon

• Strong emphasis on R&D for future combat system requirements

• Key supplier to the French Army and other European forces

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3️⃣ 8. Denel PMP (a division of Denel SOC Ltd)

Headquarters: Pretoria, South Africa
Key Offering: 20mm to 35mm ammunition, aircraft cannon rounds, and anti-material rifle cartridges

Denel PMP is a South African state-owned manufacturer of medium and large caliber ammunition. It has a strong export footprint, particularly in Africa and the Middle East, and is known for producing robust and cost-effective ammunition that performs well in harsh environments.

Innovation & Capabilities:

• Specialization in manufacturing ammunition for a wide range of international weapon platforms

• Focus on quality control and meeting stringent international standards

• Capability to produce non-standard and specialized calibers

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2️⃣ 9. ST Engineering

Headquarters: Singapore
Key Offering: 40mm low-velocity and high-velocity grenades, 25mm ammunition, and training systems

ST Engineering is a global technology, defense, and engineering group. Its land systems arm is a significant player in the Asia-Pacific region for medium caliber ammunition, providing solutions for grenade launchers and automatic cannons. The company is known for its engineering excellence and system integration capabilities.

Innovation & Capabilities:

• Development of advanced 40mm airburst munitions

• Comprehensive suite of training and simulation rounds for safe and effective preparation

• Growing international presence through strategic partnerships and exports

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1️⃣ 10. Poongsan Corporation

Headquarters: Seoul, South Korea
Key Offering: 20mm, 30mm, 40mm ammunition, and brass shells for various calibers

Poongsan Corporation is a leading South Korean non-ferrous metal manufacturer and a major defense contractor. It is a primary supplier of ammunition to the Republic of Korea Armed Forces and has a growing export business. The company vertically integrates its operations, from raw material processing to finished ammunition assembly.

Innovation & Capabilities:

• Large-scale production capacity to support domestic defense needs and international contracts

• Expertise in non-ferrous metals, ensuring high-quality cartridge case production

• Active in co-development and technology transfer programs with global partners

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🌍 Outlook: The Future of Medium Caliber Ammunition is Smarter and More Connected

The medium caliber ammunition market is undergoing a significant technological transformation. While traditional kinetic rounds remain the backbone of military inventories, the industry is heavily investing in guided munitions, enhanced lethality, and network-enabled capabilities to maintain battlefield dominance.

📈 Key Trends Shaping the Market:

• Rapid integration of smart fuzes and programmable ammunition for increased hit probability

• Development of lightweight composite materials to reduce soldier load and increase payload

• Growing demand for training ammunition that accurately simulates live-fire conditions at a lower cost

• Increased focus on ammunition interoperability among NATO and allied forces

Get Full Report Here:
Medium Caliber Ammunition Market – View in Detailed Research Report

The companies listed above are not only supplying the essential projectiles for defense—they are engineering the tactical advantages that define modern warfare.