The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Several developing economies such as India, China, Russia, and Brazil are spending significantly on modernizing the capabilities of their ground forces by procuring modern weapons including howitzers and mortars among others. The need to provide ground forces with increased capabilities pertaining to protection and munitions is expected to spur the artillery and systems market. The threat from neighbouring nations and insurgency issues is expected to be a major factor that will contribute to the increasing demand for artillery systems.
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Militaries are also aiming to enhance capabilities in guerrilla warfare, counter-insurgency, and counter-terrorism operations, are focused towards developing guided artillery systems to improve accuracy in attacks. Currently, Russia is the process of developing an artillery system capable of firing a target beyond a gunner’s line of sight with the help of small drones that assist in its navigation. This is expected to open up a new line of investment in the segment over the coming years.
This upgrade of weapons and arms by various militaries is therefore expected to sustain the demand for newer artillery platforms. Furthermore, the large base of existing inventory, as well as new procurements throughout the next decade, will create the need for servicing and maintenance activities, which are anticipated to fuel the artillery systems market to a great extent. The global artillery and systems market is expected to grow at a CAGR of 3.04% over the period 2018 -2028.
The Artillery and Systems market is split into five segments: Turret Systems, Self-Propelled Artillery Systems, Towed Artillery Systems, Mortars and Other Artillery Systems. During the forecast period, Turret Systems is anticipated to account for the largest share of spending, 41.4% of the overall Artillery and Systems market. The market is primarily driven by the on-going procurement of armored vehicles by countries such as Russia, China, India, US, UK, Saudi Arabia, and Israel, among others. With several countries investing their time and resources for modernizing the capabilities of their ground forces, it can be anticipated that the Turret Systems market will derive a parallel growth with respect to its parent armored vehicles market.
The Global Artillery and Systems Market 2018-2028 report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for artillery systems, key market trends, and challenges encountered by industry participants.
In particular, the report provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2018-2028, 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 changing preferences of artillery systems segments around the world. 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 2018-2028.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis
Companies Mentioned: General Dynamics, Elbit Systems, BAE Systems, Lockheed Martin, Nexter SA, Norinco, Avibras, Uralvagonzavod, Hanwha Techwin
- The global artillery and systems market is expected to grow at a CAGR of 3.04% over the forecast period.
- The market consists of five segments: Self Propelled Artillery Systems, Towed Artillery Systems, Other Artillery Systems, Turret Systems, and Mortar Systems.
- The market is expected to be dominated by the turrets segment, followed by self propelled and towed artillery segments.
- Region wise, Asia Pacific is expected to lead the global artillery and systems market during 2018-2028, followed by Europe and North America.
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