Report Forecast:

The artillery systems market was estimated at US$ 3.5 Billion in 2022 and is expected to grow at a CAGR of 7.1% during 2022-2028 to reach US$ ~8.9 Billion in 2028.

The rising demand from defense sectors for enhanced military equipment to combat adversary assaults drives the artillery systems market size. The market's main competitors are even attempting to improve their services by improving the features of artillery systems to offer the defense industry essential characteristics. The participants focus on developing creative solutions for artillery systems that will allow military troops to aim their attacks more accurately. During active military operations, these devices are extremely successful on the battlefield.

The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.

COVID-19 IMPACT on the Market-

The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.

The growth curves of Artillery Systems market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2022 is probably going to be superior to 2020 for the Artillery Systems market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.

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The Cornerstones in the market-

Listed below are the top key players that dominate the artillery systems market –

• IMI Systems (Israel)
• Kmw+NexterDefense Systems (Netherlands)
• Lockheed Martin (US)
• Avibras (Brazil)
• BAE Systems (UK)
• Leonardo SpA
• Nexter Group
• Elbit Systems (Israel)
• General Dynamics (US)
• Hanwha Group (South Korea)
• China North Industries Corporation (Norinco) (China)
• Denel SOC Ltd (South Africa)

Artillery Systems Market Segmentation:

The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.

The Artillery Systems market is segmented into the following categories.

The market is segmented based on type: mortar, howitzer, and rocket artillery. Among these sectors, the mortar category is the most important, accounting for most of the Artillery Systems Market Share. Because of the tiny size and lightweight qualities, mobility is increased. These characteristics are increasing the mortar industry. Because of the increased deployment of self-propelled and towed howitzers in the worldwide military sector, the howitzer segment is predicted to rise fast.

The artillery systems market segment is divided into the gun turret, fire control, ammunition handling, and auxiliary systems. The fire control system segment is expected to have the highest market share in all sectors. Meanwhile, during the assessment period, the ammo handling system is expected to have the greatest CAGR. These areas are explosive expansion due to rising demand for precise target identification and improved fire systems.

The artillery systems market is divided into three range segments: short-range, medium-range, and long-range. Due to the widespread use of medium-range artilleries in military sectors, the medium-range category accounts for most of the artillery systems market. Because of the growth in border disputes worldwide, the long-term CAGR is predicted to be the highest.

In terms of regions, North America is likely to maintain its supremacy in the Artillery Systems market throughout the forecast period.  Owing to increased demand for superior protective solutions in the defense and military sectors, The United States, the world's largest military spender, is occupied with the most modern and big amount of defense equipment, contributing considerably to the market's growth in North America. Due to the growth in terror incidents, the European Market is regarded as the second-largest share-holding market, after only North America. Europe's areas, such as the United Kingdom, France, Russia, and Germany, encourage market expansion.

Concurrently, the Artillery Systems market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. The modernization of combat platforms by armed forces in various Asia Pacific countries is expected to boost the growth of the region's artillery system market. China, India, and South Korea are among the key countries investing in artillery systems and associated technology. China is the most important market for artillery systems in the Asia Pacific, owing to the country's constant technical developments and other variables such as geopolitical circumstances and the replacement of obsolete systems.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization Options

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• Company Profiling
• Detailed profiling of key market players (up to 3 players)
• SWOT analysis of key market players (up to 3 players)

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