Artillery Systems Market Research Report - Global Forecast to 2030

Artillery Systems Market Report: Information by Type (Mortar, Howitzer, & Rocket Artillery), Component (Gun Turret, Fire Control System, Ammunition Handling System, & Auxiliary System), Range (Short, Medium, & Long), & Region - Global Forecast till 2030

ID: MRFR/A&D/5323-HCR | November 2022 | Region: Global | 100 Pages         

Artillery Systems Market

Artillery Systems Market Size is expected to reach USD 9.17 Billion by 2030, registering a CAGR of 7.22% during 2020-2030.

Segmentation

By Type Mortars Howitzers Rocket Artillery Others
By Component Gun Turret Fire Control System Ammunition Handling System Auxiliary System Others
By Range Short Range Medium Range Long Range

Key Players

  • Avibras (Brazil)
  • BAE Systems (UK)
  • China North Industries Corporation (Norinco) (China)
  • Denel SOC Ltd (South Africa)
  • Elbit Systems (Israel)
  • General Dynamics (US)
  • Hanwha Group (South Korea)
  • IMI Systems (Israel)
  • Kmw+NexterDefense Systems (Netherlands)
  • Lockheed Martin (US)

Drivers

  • Increased Demand For Advanced Artillery Systems In Military Operations
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Market Overview


Artillery Systems Market Size is expected to reach USD 9.17 Billion by 2030, registering a CAGR of 7.22% during 2020-2030.
Artilleries are high-ranged military weapons designed in a specific way to launch munitions. These are mostly used in military operations and missions across the borders. Due to its vast usage in military sectors, the Artillery Systems Market emerged worldwide. The rise in concern for military missions and the safeguard for military troops are driving the Artillery Systems Market Growth. The market has proved its worth in the past years because of its sheer advantage and progressed growth rate. Several growth factors are largely driving the market. The increased rate of terror attacks, conflicts between the nations, and other violent activities boost the Artillery Systems Market Trends. The world is even concerned about the safety of military troops because they are the reason behind maintaining the nation’s peace. Therefore, the rise of awareness for the protection of the military by the government and the defense ministries is propelling Artillery Systems Market Growth


The increased demand of defense sectors for improved military equipment to fight against the opponents' attacks boosts the Artillery Systems Market Size. The key players of the market are even trying to improve their services by upgrading the features of artillery systems so that they can serve the defense sector with its relevant features. The players are working on installing innovative solutions to the artillery systems, which will help the military personnel target their attack with precision. These systems are highly effective on the battlefields during ongoing military operations.


Moreover, the increased investments by the government sectors, which are linked with the defense entities, are chiefly boosting the Artillery Systems Market Outlook. In the future, the Artillery Systems Market will progress high due to its growing demand among nations across the world to protect militaries and maintain world peace. Overviewing all the growth factors, the Artillery Systems Market Value to reach its projected CAGR of 6.8% during the forecast period from 2018 to 2023.


COVID-19 Analysis


The pandemic has negatively affected almost every industrial sector because the manufacturing operations and production processes were stopped during the lockdown period. But the markets related to the manufacturing of military equipment have got moderately affected because the supply of military materials and equipment was considered of prime importance as per the nation’s requirement across the globe. The defense sectors should always be ready for sudden attacks. Therefore the market received strong support from the government and defense entities. The Artillery Systems Market will recover its moderate loss in the future years to achieve its estimated USD value.


Chief Factors Existing In the Market



  • Key Market Drivers


Major key drivers are driving the Artillery Systems Market Size. The military sectors are the prominent drivers of the Artillery Systems Market. The increased demand for advanced artillery systems in military operations boosts the market’s growth. Even the programs and awareness worldwide for military modernization are driving the market. These driving factors will boost the market to reach its targeted value during the review period.



  • Market Challenges


The Artillery Systems Market is even facing marketing challenges during its growth period. The high demand for accurate target detection from the military troops is challenging the manufacturing unit of the market. Another major challenging factor of the Artillery Systems Market is the increased need for an advanced firing system for attacking the target.



  • Market Opportunities


The Artillery Systems Market is receiving widespread opportunities from the defense sectors worldwide. The countries more involved in conflicts and war are setting huge opportunities for the market’s growth. The government’s and defense ministries' investment in the procurement of advanced military equipment will let the market emerge in the future years.



  • Market Restraints


There are restraining factors limiting the growth of the Artillery Systems Market. The cost-related issues are raising because the advanced artillery systems need huge investments. Therefore, this factor acts as a constraint for the Artillery Systems Market Share.


Cumulative Evaluation Of The Market


The cumulative evaluation of the Artillery Systems Market states the key driving factors driving the market to fetch out more opportunities. The rise in worldwide opportunities to emerge the market at the global level. The prominent players carefully check the growth limiting factors such as the challenges and constraints to overcome them. The Artillery Systems Market will reach its expected CAGR during the evaluation period.


Market Segmentation


The Artillery Systems Market Analysisis segmented into various segments based on type, component, and range.



  • By Type


The Artillery Systems Market comprises mortar, howitzer, and rocket artillery. Among these segments, the mortar segment is the leading segment, and it is estimated to hold the highest share of the Artillery Systems Market Share. Due to the small size and lightweight features, which increases mobility. These features are boosting the mortar segment. The howitzer segment is expected to grow rapidly due to the increase in the adoption of self-propelled howitzers and towed howitzers in the military sector across the globe.



  • By Component


The component segment of the Artillery Systems Market is categorized into the gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment is estimated to lead the market share among all these segments. Meanwhile, the ammunition handling system is projected to achieve the highest CAGR during the evaluation period. These segments show sheer growth due to the growing demand for precision target detection and advanced firing systems.



  • By Range


The Artillery Systems Market is classified into short-range, medium-range, and long-range based on the range segment. The medium-range segment holds the highest market share of the Artillery Systems Market Share due to the wide preference of medium-range artilleries in military sectors. The long-range is even expected to register the highest CAGR due to the rise of border conflicts around the globe.


Regional Analysis


The geographical updates of the Artillery Systems Market Forecast are spreading its growth rate in different regions across the world, such as North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among the above geographical regions, the North American region is projected to hold the largest share of the global Artillery Systems Market Share because it has been leading the market in recent years. The US and Canada are the chief regions driving the regional market of the North American region. Followed by North America, the European Market is considered the second-largest share-holding market due to the rise of terror attacks. The regions of Europe such as the UK, France, Russia, and Germany promote the market's growth in the region. The Asia Pacific Market is projected to emerge as a rapidly growing market due to cross-border disputes in developing countries like India, China, and South Korea. 


Competitive Intensity Within The Industry


The key players of the Artillery Systems Market Outlook are why the market is proceeding with high demand across various regions. The presence of key players makes the market grow stronger in developing regions globally; hence, the list of prominent players of the Artillery Systems Market is mentioned below.



  • Avibras (Brazil)

  • BAE Systems (UK)

  • China North Industries Corporation (Norinco) (China)

  • Denel SOC Ltd (South Africa)

  • Elbit Systems (Israel)

  • General Dynamics (US)

  • Hanwha Group (South Korea)

  • IMI Systems (Israel)

  • Kmw+NexterDefense Systems (Netherlands)

  • Lockheed Martin (US)


Recent Market Development



  • In November 2016, India ordered 145 howitzers from the US for $750 million. The army to receive 56 more M777 guns by June 2022. As of now, 89 howitzers have been delivered.

  • The global Artillery Systems Market Value has reached a worth USD value of $4.6 Billion in 2021, and further, it is expected to reach $6.7 Billion by 2031.


Report Overview


The Artillery Systems Market Forecast overview has shown significant growth in recent years. The market dynamics are projecting the market to achieve its target. The COVID-19 analysis the moderate downfall of the market, but it will successfully regain its growth due to the efforts of key players. The segments of the Artillery Systems Market are in high demand due to its need in the military sectors. The regional report shows the market's growth in various world regions. The overall report states that the Artillery Systems Market to reach its CAGR in the review period.


Key Industrial Segments


By Type



  • Mortars

  • Howitzers

  • Rocket Artillery

  • Others


By Component



  • Gun Turret

  • Fire Control System

  • Ammunition Handling System

  • Auxiliary System

  • Others


By Range


  • Short Range

  • Medium Range

  • Long Range



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Frequently Asked Questions (FAQ) :

The Artillery Systems Market will reach a CAGR of 6.8 % in the forecast period.

The major segments of the Artillery Systems Market Analysis are type, component, and range.

The military forces' increase in demand for artillery systems and military modernization programs drive the Artillery Systems Market Trends.

The intended audience of the Artillery Systems Market is Defense authorities, Armed forces, Ammunition and missile systems manufacturers, Governments, Research organizations, and Original equipment manufacturers.