Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Artillery Systems Market Size and Trend Analysis Including Segments, Key Programs, Competitive Landscape and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Global Artillery Systems Market 2023-2033 report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years.
The global artillery systems market is projected to exhibit steady growth, with a Compound Annual Growth Rate (CAGR) of 4.0% throughout the forecast period. In terms of regional dominance, Asia-Pacific is poised to lead the market, commanding a substantial market share of 40.2%.
This is followed by Europe and North America, demonstrating the global nature of the industry. Among the segments, Self-Propelled Artillery Systems are anticipated to be the largest, further contributing to the market's expansion in the forecast period.
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.
Land warfare techniques have undergone significant changes over the past decade due to the rise of technologically improved threats, thereby requiring militaries to employ newer artillery systems to neutralize these emerging challenges. In addition, the demand for artillery systems is also anticipated to be driven by the ongoing territorial and border conflicts in several regions, including Asia-Pacific, Europe, the Middle East, and Africa.
There is a growing demand for procurement of advanced long range and high precision artillery and multiple launch rocket system for enhanced attack capabilities. Furthermore, the 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 is expected to account for 39.8% of the global artillery systems market over the forecast period. Heavy investment for the procurement of self-propelled artillery systems by some of major countries in Europe, Asia-pacific, and Middle East regions is anticipated to drive market growth over the forecast period.
According to Chandan Kumar Nayak, Defense Analyst - 'The accuracy of indirect fire, delivered at long ranges by artillery systems, has improved considerably over the years. This has been possible due to the incorporation of advanced onboard computers and targeting sensors into artillery systems.
Modern self-propelled artillery systems can integrate and process data from a wide range of sources: EO/IR sensors, observation, counter-battery radars, UAVs, reconnaissance aircraft, and satellites. The future military theater will mainly be characterized by precise, intense, and short engagements. These technological advancements are expected to further propel the growth of artillery systems market over the next decade.'
Asia-Pacific region is expected to dominate the global artillery systems market from 2023 to 2033. Geopolitical tensions across the region, along with territorial disputes, have prompted a surge in the procurement of several new artillery systems by the countries in the region.
China's dominance is attributed to its ongoing programs, such as the PGL-625 self- propelled artillery systems, the PHL-16 multiple rocket launch systems, and the PHL-11 multiple rocket launch systems. The high procurement can be attributed to China military modernization initiatives to establish itself as the dominant military force in the region.
India is the second largest procurer of the artillery system and has several high-value ongoing programs, with the latest procurement of one of the most advanced indigenously developed towed artillery systems, 'ATAGS'.
Key Highlights
- The global artillery systems market is expected to grow at a CAGR of 4.0% over the forecast period.
- Asia-Pacific is expected to dominate the global artillery systems market over the forecast period with a market share of 40.2%, followed by Europe and North American regions.
- Self-Propelled Artillery Systems is expected to be the largest segment over the forecast period.
Who Should Buy
- Defence Startup's, original equipment manufacturers (OEMs), defence planners, artillery systems integrators, venture capital firms, government agencies, head of marketing, head of sales, CEOs and senior executives.
- The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
- The venture capital firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.
Scope
- Market size and drivers: Detailed analysis during 2023-2033, including 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 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 that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2023-2033.
- 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.
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: CIWS
- Segment Analysis: Mortar 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
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/cy0i2n
Source: GlobalData
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