Military Propellants and Explosives Market Report 2024 (Global Edition)

Global Military Propellants and Explosives Market Report 2024 Market Size Split by Type (Military Propellants, Military Explosives), by Application (Aerospace, Naval, Ground Defense, Missile Systems),...

Military Propellants and Explosives Market Report Description

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Competitive Landscape of the Military Propellants and Explosives Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Military Propellants and Explosives Industry: (In no particular order of Rank)

• BAE Systems plc
• Rheinmetall AG
• Lockheed Martin Corporation
• Orbital ATK (now part of Northrop Grumman Corporation)
• General Dynamics Corporation
• Thales Group
• Raytheon Technologies Corporation
• Chemring Group PLC
• Nexter Group
• Saab AB
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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In terms of revenue, the North America Military Propellants and Explosives Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The market for military explosives and propellants is growing significantly in North America due to rising defense spending and technical developments. Governments in the region are investing in advanced propulsion systems, munitions, and weaponry to maintain military superiority and counter emerging security threats. This demands specialized propellants and explosives to support military operations and modernization efforts.

The European region is witnessing an increase in the sales of reagents. Due to increased security concerns and modernization projects, the market for explosives and military propellants is expanding in Europe. European nations invest in cutting-edge weapons, missiles, and ordnance systems to bolster military capabilities and counter-changing threats. This is creating a need for specialized propellants and explosives. The military sector in the region is benefiting from this trend in terms of innovation and market expansion.

The current report Scope analyzes Military Propellants and Explosives Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Military Propellants and Explosives

According to Cognitive Market Research, the global Military Propellants and Explosives market size was estimated at USD 3514.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1405.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.3% from 2024 to 2031. The market for explosives and military propellants in North America is growing thanks to substantial defense spending and technological developments. The area has a strong market for specialty explosives and propellants, especially in the aerospace industry, where cutting-edge weapons and propulsion are necessary to sustain military dominance. Governments in North America are investing extensively in defense modernization initiatives, pushing the adoption of cutting-edge ordnance solutions with an emphasis on countering rising security threats. With military operations evolving to meet new challenges, this demand is felt across a number of sectors, including the ground and naval forces. Because of this, North America continues to have a significant influence on the military propellants and explosives market's future, providing manufacturers and suppliers with profitable chances to take advantage of the region's defense goals

• According to Cognitive Market Research, the US had a major share in the Military Propellants and Explosives market with a market size of USD 1109.08 million in 2024 and is projected to grow at a CAGR of 1.1% during the forecast period. The demand is amplified by the nation's improving defense capabilities.
• The Canada Military Propellants and Explosives market had a market share of USD 168.68 million in 2024 and is projected to grow at a CAGR of 2.1% during the forecast period. Canada's rising investment in cutting-edge armament.
• The Mexico Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD 127.92 million in 2024.

Europe Military Propellants and Explosives

According to Cognitive Market Research, with a market value of USD 3514.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 1.6 % from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1054.26 million. Growing security concerns and defense modernization projects are driving the market for explosives and military propellants in Europe. European nations are investing in cutting-edge weapons and munitions with the goal of bolstering their defense capabilities, which is increasing demand for explosives and specialty propellants. The aerospace industry is a significant contributor to the growth of the market, as evidenced by the rising need for sophisticated propulsion systems and missile and aircraft munitions. Furthermore, the naval industry makes a substantial contribution to market growth through increasing investments in naval armaments and marine defense systems. The military propellants and explosives market presents substantial prospects for manufacturers and suppliers to fulfill the changing needs of defense forces throughout the area, as Europe continues to prioritize security and defense modernization.

• The United Kingdom Military Propellants and Explosives market had a market share of USD 177.12 million in 2024 and is projected to grow at a CAGR of 2.4% during the forecast period. In the UK, Military Propellants and Explosives sales witness an upswing due to the security initiatives. 
• The France Military Propellants and Explosives market is projected to witness growth at a CAGR of 0.8% during the forecast period with a market size of USD 96.99 million in 2024.
• According to Cognitive Market Research, the Germany Military Propellants and Explosives market size was valued at USD 208.74 million in 2024 and is projected to grow at a CAGR of 1.8% during the forecast period. In Germany, Military Propellants and Explosives sales surge due to the military operations. 
• The Italy Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.0% during the forecast period with a market size of USD 90.67 million in 2024.
• The Russia Military Propellants and Explosives market is projected to witness growth at a CAGR of 0.6% during the forecast period with a market size of USD 163.41 million in 2024.
• The Spain Military Propellants and Explosives market is projected to witness growth at a CAGR of 0.7% during the forecast period with a market size of USD 86.45 million in 2024.
• The Luxembourg Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 32.68 million in 2024.
• The Portugal Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.4% during the forecast period with a market size of USD 22.14 million in 2024.
• The Greece Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.9% during the forecast period with a market size of USD 12.65 million in 2024.
• Rest of Europe Military Propellants and Explosives market is projected to witness growth at a CAGR of 0.3% during the forecast period with a market size of USD 163.41 million in 2024.

Asia Pacific Military Propellants and Explosives

According to Cognitive Market Research, the global Military Propellants and Explosives market size was estimated at USD 3514.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 808.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031. Due to rising defense spending and geopolitical concerns in the area, the military propellant and explosives industry in the Asia Pacific region is expanding quickly. The need for specialized explosives and propellants is rising as nations strengthen their defenses to counter security threats. With nations investing in cutting-edge military aircraft and missile technology, the aerospace sector, which includes aircraft and missile propulsion systems, is a substantial driver of market growth. Additionally, the growing investments in naval weaponry and maritime defense systems by the naval industry help to expand the market. The demand for explosives and military propellants is predicted to stay high as Asia Pacific nations continue to upgrade their armed forces and improve their military capabilities. This will create profitable prospects for suppliers and manufacturers in the region.

• According to Cognitive Market Research, the China Military Propellants and Explosives market size was valued at USD 363.72 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. Military Propellants and Explosives sales surge in China due to country's expanding attempts to modernize its military.
• The Japan Military Propellants and Explosives market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 111.54 million in 2024.
• The India Military Propellants and Explosives market had a market share of USD 96.99 million in 2024 and is projected to grow at a CAGR of 6.9% during the forecast period. The demand is augmented by India's increasing ongoing territorial disputes.
• The South Korea Military Propellants and Explosives market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 80.83 million in 2024.
• The Australia Military Propellants and Explosives market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 55.77 million in 2024.
• The South East Asia Military Propellants and Explosives market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 57.39 million in 2024.
• The Rest of Asia Pacific Military Propellants and Explosives market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 57.39 million in 2024.

South America Military Propellants and Explosives

According to Cognitive Market Research, the global Military Propellants and Explosives market size was estimated at USD 3514.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 175.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031. The market for explosives and military propellants in Latin America is growing moderately, driven by attempts to modernize defenses and address security issues in the region. Specialized propellants and explosives are steadily in demand as a result of governments in the region increasingly modernizing their defense capabilities, even though defense spending is still relatively modest when compared to other parts of the world. The aerospace industry, which includes missile and aircraft propulsion systems, is a major factor in the market's expansion as nations look to improve their air force capacities. Additionally, by investing in naval weaponry and maritime defense systems, the navy industry helps to expand the market. 

• According to Cognitive Market Research, the Brazil Military Propellants and Explosives market size was valued at USD 75.20 million in 2024 and is projected to grow at a CAGR of 3.1% during the forecast period. Military Propellants and Explosives sales flourish in Brazil due to the armament.
• The Argentina Military Propellants and Explosives market had a market share of USD 29.52 million in 2024 and is projected to grow at a CAGR of 3.4% during the forecast period. The demand is augmented by Argentina's commitment to , munitions.
• The Colombia Military Propellants and Explosives market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 15.64 million in 2024.
• The Peru Military Propellants and Explosives market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 14.41 million in 2024.
• The Chile Military Propellants and Explosives market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 12.65 million in 2024.
• The Rest of Latin America Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.6% during the forecast period with a market size of USD 28.29 million in 2024.

Middle East and Africa Military Propellants and Explosives

According to Cognitive Market Research, the global Military Propellants and Explosives market size was estimated at USD 3514.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 70.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031. Governments in the region are prioritizing defense spending due to continuous conflicts, terrorism threats, and geopolitical tensions. This has resulted in a boom in demand for specialist propellants and explosives. When nations engage in cutting-edge military aircraft and missile capabilities, the aerospace segment—which includes aircraft propulsion systems and missile technologies—becomes a significant force behind market expansion. Additionally, by investing in naval weaponry and maritime defense systems, the navy industry helps to expand the market. Notwithstanding obstacles like unstable political environments and limited resources, the Middle East and Africa provide prosperous prospects for producers and suppliers to fulfill the increasing need for explosives and military propellants, as well as to serve the defense needs of the region.

• According to Cognitive Market Research, the GCC Countries Military Propellants and Explosives market size was valued at USD 30.08 million in 2024 and is projected to grow at a CAGR of 3.6% during the forecast period. Military Propellants and Explosives sales flourish in the GCC Countries due to the large defense spending.
• The Egypt Military Propellants and Explosives market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 7.38 million in 2024.
• The South Africa Military Propellants and Explosives market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 11.10 million in 2024. Military Propellants and Explosives sales flourish in the South Africa due to the better propulsion systems.
• The Turkey Military Propellants and Explosives market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 6.04 million in 2024.
• The Nigeria Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.9% during the forecast period with a market size of USD 7.38 million in 2024.
• The Rest of MEA Military Propellants and Explosives market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD 8.29 million in 2024.

Military Propellants and Explosives Market Analysis

Type Segment Analysis of Military Propellants and Explosives Market

Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Military Propellants and Explosives market.

Type of Military Propellants and Explosives analyzed in this report are as follows:

• Military Propellants
• Military Explosives

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Military Propellants and Explosives Industry. Request a Free Sample PDF!

Military Propellants and Explosives Market Application Segment Analysis

According to Cognitive Market Research, aerospace held the major market share over the forecast period. The market for military explosives and propellants is expanding due to the aerospace industry's growing need for sophisticated weaponry and propulsion systems. Specialized propellants and explosives are required with the technological advancements of military aircraft, drones, and missiles to power these platforms and improve their combat capabilities. The aerospace industry's ongoing need aids market expansion.

Naval is the fastest-growing category over the forecast period, with the need for naval weapons and maritime defense systems growing. The requirement for specialized propellants and explosives to power naval vessels, submarines, torpedoes, and other maritime defense systems is expanding as navies worldwide upgrade their fleets and create sophisticated maritime capabilities, driving market expansion.

• Aerospace
• Naval
• Ground Defense
• Missile Systems

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Military Propellants and Explosives Composition Segment Analysis

According to Cognitive Market Research, single base holds a prominent market share because of its affordability, stability, and adaptability. These nitrocellulose or nitroglycerin-based propellants provide dependable performance in various applications, such as rocket motors, artillery shells, and small weapons ammunition. The market is expanding because of the growing demand for single-base propellants as armed forces prioritize efficacy and efficiency in their munitions.

Double base is the fastest-growing category over the forecast period. Because of their higher performance and versatility, double-base propellants drive expansion in the military and explosives sectors. These fuels, which consist of nitrocellulose and nitroglycerin, have a greater energy output than single-base alternatives, which makes them perfect for high-performance devices like missiles, rockets, and artillery shells. Double base propellant demand is rising as armed forces look for more capable, cutting-edge bombs, which is fueling market expansion.

• Single Base
• Double Base
• Triple Base

Military Propellants and Explosives Technology Segment Analysis

According to Cognitive Market Research, smokeless powder held the major market share over the forecast period. Since smokeless powder performs better than ordinary gunpowder and has less visibility, it is a major growth driver in the military propellants and explosives market. Smokeless powder is used in artillery and weapons to improve muzzle velocity, accuracy, and dependability. Smokeless powder is becoming increasingly in demand as armed forces prioritize modernization and efficiency in their artillery, propelling market expansion.

Black powder is the fastest-growing category over the forecast period. Despite its historical significance, black powder is not driving development in the market for explosives and military propellants today. Due to its limits in performance, stability, and safety, more sophisticated propellants and explosives have essentially superseded its employment in military applications. Black powder demand has decreased in military applications due to military forces' search for more effective and efficient ammunition, which has influenced market expansion.

• Smokeless Powder
• Black Powder
• Dynamite

Military Propellants and Explosives Form Segment Analysis

According to Cognitive Market Research, powder held the major market share over the forecast period. The military market is expanding because of the powder form explosives and propellants because of their effectiveness, handling ease, and diversity. Powdered forms are available in several compositions, such as smokeless, double base, and single base. They function dependably in various applications, ranging from artillery shells to small weapons ammunition. With military forces prioritizing modernization and effectiveness, there is an increasing need for explosives and powdered propellant.

The gel is the fastest-growing category over the forecast period. The military market is developing partly because of gel-form propellants and explosives and their special qualities, which include increased controllability, safety, and stability. Gel formulations improve performance and precision and are used in specific applications such as shaped charges and rocket propulsion. The need for gel-form propellants and other innovative ordnance options is growing as armed forces.

• Powder
• Gel
• Other Forms

Author's Detail

David Fuller

Senior Analyst at Cognitive Market Research

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I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.

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