PUBLISHER: Market Forecast | PRODUCT CODE: 1401464
PUBLISHER: Market Forecast | PRODUCT CODE: 1401464
Market forecasts by Calibre, Mobility, and Region. Country Analysis, Market and Technology Overview, Opportunities and Impact Analysis, and Leading Company Profiles
The global howitzer systems market is projected to grow with a 10.1% CAGR throughout the forecasted period, to reach a volume of US$72.1 billion. This big increase is partially explained by the war in Ukraine which has mainly impacted two of the largest markets, namely the North American and European. Europe is expected to account for 38.8% of the total market in the 2024-2032 period, with a volume of US$28.01 billion, marking a 9.3% CAGR.
The war in Ukraine has highlighted some of the key characteristics of the modern battlefield against a peer enemy. Long-range fires have always been in the plans of all armies, but there an inherent conception that these would be better served with missile systems, which among other characteristics provide accuracy. While this is true the war in Ukraine has also highlighted the importance of volume of fire, which cannot be adequately served by missile systems.
The importance of volume in fires has remained at the centrepiece of Russian (and Chinese) tactical planning. These ground forces can deploy thousands of howitzers to dominate the battlefield and open the way for troops to seize their targets. Although that issue could be tackled by the acquisition of a proportionally if not equally large number of howitzers from the western countries and their allies, the costs are prohibiting.
Joint procurement from security or political organizations' member-states (e.g. the EU and NATO) could provide the organisational, legal and financial framework to form economies of scale and reduce the impact of independent procurement and future support.
Nevertheless, the market is not only determined by pricing, but political factors too. As in every major platform procurement political support is important to successfully close an agreement. Howitzer systems do not escape from that realm.
What is currently important also is the ability of industries to manufacture howitzer systems. The war in Ukraine has overstretched the industrial capacity. Despite the collective actions on behalf of the EU countries and the US, it is a challenging task that will require every production facility available to join the effort. Looking into that from a different angle, it can be said that opportunities are not only found in sales of the systems, but also in the form of M&A throughout the supply chain, with possible further consolidation opportunities being ahead.
We have segmented the Howitzer Systems market in three major groups. We've researched these major segments and provide forecast figures for 2024 - 2032. The segments are:
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