REPORT HIGHLIGHT
Artillery Systems Market size was valued at USD 11,134.7 Million in 2022, expanding at a CAGR of 15.5% from 2023 to 2030.
Military weapons known as artillery systems are formed to launch projectiles across long distances with greater accuracy and destructive power. These systems are employed by ground forces to engage enemy targets at varied ranges and provide fire support in contemporary combat situations.
Artillery Systems Market- Market Dynamics:
Growing defense budgets, upgradation of existed system is expected to propel the Artillery Systems demand.
Existing artillery systems in various nations need to be replaced or upgraded to retain operational effectiveness. Demand for new and sophisticated artillery systems with increased range, accuracy, and lethality is driven by modernization initiatives. There has been a growing allocation of funding for the purchase of new artillery systems as defense budgets have grown in different parts of the world. Growing need for advanced and powerful artillery systems may be influenced by technological developments such as enhanced precision guidance, automation, and integration of artillery systems into network-centric combat. Artillery systems can be crucial in asymmetric warfare scenarios and counter-insurgency operations for supporting ground forces with fire and neutralizing rebel elements.
In addition, upgradation, and modernization to maintain operational effectiveness to improve military capabilities is expected to boost the market growth.
Artillery Systems Market- Key Insights:
- As per the analysis shared by our research analyst, the global Artillery Systems market is estimated to grow annually at a CAGR of around 15.5% over the forecast period (2023-2030)
- The Artillery Systems industry is projected to grow at a significant rate due to the growing focus on animal health and nutrition.
- Based on Range, medium-range segment was predicted to show maximum market share in the year 2022.
- Based on System, fire control system segment is expected to hold significant market share by 2030.
- Based on Type, segmentation, rocket launchers segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Artillery Systems Market- Segmentation Analysis:
The Global Artillery Systems Market is segmented on the basis of Type, Range, System, and Region.
The market is divided into three categories based on Type: rocket launchers, anti-air weapons, and artillery. The rocket launchers segment dominates the market. Increasing demand rocket launching system is contributing to market growth.
The market is divided into four categories based on Range: short-range, medium-range, and long-range. The medium-range segment dominates the market. Cross border concerns is expected to boost the market growth.
The market is divided into three categories based on System: fire control system, ammunition handling system, and auxiliary system. The fire control system segment dominates the market. The increasing demand for environment sustained operations is contributing to the segment growth.
Artillery Systems Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Artillery Systems Market- Competitive Landscape:
Owing to the increasing advancement in defense system and growing demand from military operations which influence the artillery systems market. Several product developers, types, range providers compete on various factors, such as range. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and expand their market share include new product launches, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In September 2022, AICure introduced the clinical services to better process its service program.
Key features of the study:
- This proposed research study on Artillery Systems market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Artillery Systems market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Artillery Systems market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Artillery Systems market
- Impact of COVID-19 on Artillery Systems market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Artillery Systems market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Artillery Systems market, we have also included competitive landscape and key innovator analysis for the Artillery Systems market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial inspection and strategic initiatives of players operating in the Artillery Systems market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Artillery Systems market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ARTILLERY SYSTEMS MARKET KEY PLAYERS
- BAE Systems
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Rheinmetall AG
- Nexter Systems
- General Dynamics Corporation
- Hanwha Corporation
- Elbit Systems Ltd.
- NORINCO
- KMW
- Yugoimport-SDPR
- Denel Land Systems
- ST Engineering
- Israel Military Industries
- Rostec
GLOBAL ARTILLERY SYSTEMS MARKET, BY TYPE
- Rocket Launchers
- Anti-air weapons
- Artillery
GLOBAL ARTILLERY SYSTEMS MARKET, BY RANGE
- Short-range
- Medium-range
- Long-range
GLOBAL ARTILLERY SYSTEMS MARKET, BY SYSTEM
- Fire Control System
- Ammunition Handling Systems
- Auxiliary Systems
GLOBAL ARTILLERY SYSTEMS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA