DUBLIN, Feb. 16, 2023 /PRNewswire/ — The “Artillery Systems Market Size and Trend Analysis including Segments (Self Propelled Artillery Systems, Multiple Rocket Launch Systems, Towed Artillery Systems, Naval Guns, Mortar Systems, and Close in Weapon Systems), Key Programs, Competitive Landscape and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.
This report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants.
It also offers insights regarding key factors and government programs that are expected to influence the demand for artillery systems market over the forecast period.
Increased requirements for advanced long range artillery and MRLS systems to enhance the strike range and lethality of armed forces is expected to drive the procurement of artillery systems. In addition, demand for artillery systems is also anticipated to be driven by the ongoing territorial disputes across all regions, as well as the military modernization initiatives undertaken by major militaries to replace and upgrade their old artillery systems.
Modernization initiatives by major military powers such as the US, India, China, and Russia are anticipated to drive the artillery systems market over the coming years.
The self-propelled artillery systems segment is expected to be the largest segment and accounts for 47.3% of the global artillery systems market over the forecast period. Several developing economies, such as India, China, Turkey, Poland, Russia, and Brazil, are spending significantly on modernizing the capabilities of their ground forces by procuring various self-propelled artillery systems are expected to drive the segment’s growth over the forecast period.
According to Chandan Kumar Nayak, Defense Analyst at the publisher: ‘Warfare techniques have undergone significant changes over the past decade due to the rise of technologically improved threats, thereby enabling military forces to employ newer artillery systems to neutralize adversaries. Guided artillery systems are one such weapon for militaries fighting in hostile environments which facilitate greater accuracy. This is expected to propel the growth of artillery systems market over the next decade.’
Asia-Pacific region is expected to dominate the global artillery systems market from 2022 to 2032. Major countries in the region have increased their defense budgets and have tried to maintain them even during the pandemic. The need to upgrade and replace various artillery systems is anticipated to drive spending.
The need to incorporate advanced artillery systems and the territorial disputes among countries such as India, China, and South Korea are anticipated to drive spending.
Countries such as India and China are developing multiple artillery and MRLS systems which are anticipated to be inducted over the next decade. Similarly, India has several high-value ongoing programs, with plans to procure one of the most advanced indigenously developed towed artillery systems, ‘ATAGS’, and replenish its arsenal with the state-of-the-art multiple barrel rocket launching system (MBRL) ‘PINAKA 2’.
Companies Mentioned
- Lockheed Martin
- Aselsan Elektronik Sanayi Ve Ticaret AS
- Leonardo
- General Dynamics
- Hanwha Defense
- Elbit Systems
- BAE Systems Plc
- NORINCO
- Rafael Advanced Defense Systems Ltd
- Rheinmetall
- Rostec corp
- S&T Dynamics
- KNDS (KMW + Nexter Defense Systems)
- Ordnance Factory Board
- Bharat Forge Ltd
- Leonardo SpA
Key Highlights
- The global artillery systems market is expected to grow at a CAGR of 2.7% over the forecast period.
- The global artillery systems market is classified into six categories: Self-propelled Artillery Systems, Multiple Rocket Launch Systems, Towed Artillery Systems, Naval Guns, Close-In Weapon Systems, and Mortar Systems.
- Asia-Pacific is expected to dominate the global artillery systems market over the forecast period with a market share of 36.9%, followed by Europe and North American regions.
- Self-propelled artillery systems is expected to be the largest segment among other artillery systems categories over the forecast period.
Scope
In particular, the report provides an in-depth analysis of the following:
- Market size and drivers: Detailed analysis during 2022-2032, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing artillery systems projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2022-2032.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global artillery systems market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global artillery systems over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different artillery systems segments in the top spending countries across the world and identify the opportunities offered by each of them
- Analyse the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major countries that are driving the global artillery systems market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global artillery systems market
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top artillery systems manufacturers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Key Topics Covered:
- Executive Summary
- Global Artillery Systems Market: Overview
- Market Dynamics
- Demand Drivers
- Trends
- Technological Developments
- Key Challenges
- Global Artillery Systems Market: Segment Analysis
- Segment Analysis: Self Propelled Artillery Systems
- Segment Analysis: Multiple Rocket Launch Systems
- Segment Analysis: Towed Artillery Systems
- Segment Analysis: Naval Guns
- Segment Analysis: Mortar Systems
- Segment Analysis: Close in Weapon Systems
- Global Artillery Systems Market Regional Analysis
- Global Artillery Systems Regional Overview
- Regional Analysis: Asia-Pacific
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Regional Analysis: Europe
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Regional Analysis: North America
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Regional Analysis: Middle East
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Regional Analysis: Africa
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Regional Analysis: Latin America
- Supplier share analysis
- Leading countries in the region
- Regional volume share
- Competitive Landscape and Key Programs
- Leading Market Players
- Key Programs
- Appendix
For more information about this report visit https://www.researchandmarkets.com/r/fuwzj7-systems?w=5
Source: GlobalData
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