Artillery Systems Market – Technologies to Remain Key End-User for Industry
Global Artillery Systems Market Report: Information by Type (Mortar, Howitzer, & Rocket Artillery), Component (Gun Turret, Fire Control System, Ammunition Handling System, & Auxiliary System), Range (Short, Medium, & Long), & Region—Forecast till 2023
Defense authorities across the world are focused on purchasing advanced artillery systems, especially in countries that are currently involved in conflicts and in emerging economies involved in territorial disputes. Due to the increasing number of conflicts, there is a greater need to maintain a sufficient inventory of munitions, which is driving market growth. Moreover, the militaries in several countries are being modernized with existing technology and weapons systems being replaced.
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Additionally, the increasing number of terrorist attacks, across the globe, governments have increased their defense budgets, which offers market players lucrative opportunities for growth. However, limitations in terms of storage space for large artillery systems are expected to restrain the growth of the market.
The global artillery systems market is projected to register a CAGR of 6.8% during the review period.
The global artillery systems market is expected to grow at a significant rate during the forecast period due to the increase in defense spending in emerging economies. Self-propelled artillery vehicles with highly mobile weapons of great flexibility are largely adopted throughout the world.
- Rocket Artillery
- Gun Turret
- Fire Control System
- Ammunition Handling System
- Auxiliary System
- Short Range
- Medium Range
- Long Range
- North America
- Middle East & Africa
- Latin America
Scope of the Report:
This study provides an overview of the global artillery systems market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The scope of the study segments the artillery systems market by type, component, range, and region.
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The key players in the global artillery systems market are Avibras (Brazil), BAE Systems (UK), China North Industries Corporation (Norinco) (China), Denel SOC Ltd (South Africa), Elbit Systems (Israel), General Dynamics (US), Hanwha Group (South Korea), IMI Systems (Israel), Kmw+Nexter Defense Systems (Netherlands), and Lockheed Martin (US).
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