PUBLISHER: Grand View Research | PRODUCT CODE: 1575165
PUBLISHER: Grand View Research | PRODUCT CODE: 1575165
The global artillery systems market size was estimated at USD 10.24 billion in 2023 and is expected to grow at a CAGR of 6.8% from 2024 to 2030. Key factors, including increased global defense spending, military modernization programs, and rising geopolitical tensions, drive the market growth. Moreover, the rising threats from asymmetric warfare and the need for improved counter-artillery capabilities are pushing governments to invest in cutting-edge artillery systems. In addition, the market is further fueled by regional conflicts, military exercises, and the growing significance of modern artillery.
Countries are investing in upgrading their artillery capabilities to enhance range, mobility, and precision, leading to a surge in demand for advanced systems like howitzers, rocket launchers, and self-propelled artillery. For instance, in July 2024, BAE Systems plc received a USD 579.3 million contract from the U.S. Army to build additional self-propelled howitzers. As part of this deal, the company will manufacture the M992A3 ammunition carrier vehicles and M109A7 Paladin self-propelled howitzers. This deal reinforces the company's position as one of the prominent suppliers of artillery systems to the U.S. military.
The market growth is further driven by the growing emphasis on long-range precision strike capabilities and network-centric warfare, which are driving technological innovations, such as automated fire control systems, enhanced mobility solutions, and precision-guided munitions. Improvements in fire control systems, including advanced sensors, computers, and communication systems, have enabled artillery units to engage targets more rapidly and accurately. Integrating automation and robotics into artillery systems improves efficiency, reduces human error, and enhances safety.
The market is poised for growth in the coming years as artillery systems are increasingly integrated with other military systems, such as command and control centers and intelligence platforms, to enhance situational awareness and operational effectiveness. These artillery units can receive real-time intelligence and target information, improving their ability to respond to threats and make informed decisions. By linking artillery systems with intelligence platforms, units can acquire precise target coordinates and adjust their fire accordingly. These factors are expected to expedite the market expansion over the coming years.
Global Artillery Systems Market Report Segmentation
This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global artillery systems market report based on type, range, component, and region: