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Global Artillery Systems Market Size study, by Caliber, by Range, by Type, by Component and Regional Forecasts 2024-2032

Global Artillery Systems Market Size study, by Caliber, by Range,...

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Global Artillery Systems Market Size study, by Caliber, by Range, by Type, by Component and Regional Forecasts 2024-2032
Global Artillery Systems Market Size...
Report Code
RO2/103/1374

Publish Date
16/Oct/2024

Pages
200
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The Global Artillery Systems Market was valued at approximately USD 4.2 billion in 2023 and is expected to exhibit a compound annual growth rate (CAGR) of 3.3% during the forecast period from 2024 to 2032. Artillery systems, including howitzers, mortars, and rocket artillery, are essential for providing indirect fire support in military operations, targeting enemy positions, fortifications, and equipment over long distances. These systems have evolved with the integration of advanced targeting technologies and precision-guided munitions, significantly enhancing their effectiveness on the modern battlefield.

The growth of the artillery systems market is primarily driven by the increasing defense budgets across various countries, aimed at modernizing military forces and replacing outdated artillery systems. Geopolitical tensions and the rising need for advanced, efficient, and technologically sophisticated artillery systems further fuel this demand. Technological advancements, such as automated fire control systems, enhanced targeting accuracy, and the development of guided munitions, are also propelling the market forward. The integration of artificial intelligence (AI) and drone technology is expected to further enhance the precision and situational awareness of these systems, making them indispensable assets in modern warfare. Moreover, there is a rising demand for mobile artillery systems, particularly self-propelled howitzers, which offer the mobility needed for rapid deployment and repositioning on the battlefield. This capability is crucial in contemporary combat scenarios, where flexibility and quick response times are vital. The increasing investments in defense capabilities by emerging economies in Asia, the Middle East, and Africa present significant growth opportunities for artillery system manufacturers. Collaborative defense initiatives and joint military exercises among nations are also opening up new markets and fostering innovation in the artillery systems market. However, the high costs associated with the development, procurement, and maintenance of advanced artillery systems pose a significant challenge to market growth. Budget constraints, particularly in countries with limited defense spending, can restrict the adoption of state-of-the-art artillery systems. The financial burden of continuous training and the integration of new technologies into existing military structures further exacerbates this challenge, potentially slowing market expansion.

In terms of regional analysis, North America is expected to maintain its dominance in the global artillery systems market throughout the forecast period, driven by the United States' substantial defense budget and the ongoing modernization of its military equipment. Europe, with significant contributions from countries like the United Kingdom, France, Russia, and Germany, is the second-largest market, while the Asia Pacific region is projected to witness the highest growth rate. The modernization of combat platforms in countries such as China, India, and South Korea is anticipated to drive the expansion of the artillery systems market in the Asia Pacific region.

Major market players included in this report are:
Avibras
General Dynamic
Elbit Systems
BAE Systems
Hanwha Group
Lockheed Martin
IMI Systems
ST Engineering
RUAG Group
Denel SOC Ltd
The detailed segments and sub-segment of the market are explained below:
By Caliber:
Small
Medium
Heavy
By Range:
Short
Medium
Long
By Type:
Rocket
Anti-Air
Howitzer
Mortar
Others
By Component:
Fire Control System
Chassis
Engine
Gun Turret
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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