Global Artillery Systems Market is Estimated to Reach $15 Billion by 2025, Says Accurize Market Research
Global Artillery Systems Market report published by Accurize Market Research forecast that the global market is expected to reach $15 billion by 2025; growing at a CAGR of 7.3% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing demand for artillery systems from the military sector as well as continuing military up gradation programs across the globe to drive the growth of the market
Increasing demand for artillery systems from the military sector as well as continuing military up gradation programs across the globe fuels the demand for the global artillery systems market. Furthermore, growing defense expenditure of developing countries also boosts the growth of the market.
Market Segmentation
The global artillery systems market has been bifurcated on the basis of type, component, range, caliber, and geography. By type, the market is further sub segmented into Mortar (Self-propelled, and Towed), Howitzer (Self-propelled, and Towed), Anti-air (Air Defense Gun, and Counter Rocket, Artillery and Mortar (C-RAM)), Rocket (Multiple Launch Rocket System (MLRS), and Man-portable Air-defense Systems (MANPADS)), and Other Types (Coastal Artillery, and Naval Artillery). Component is further categorized as Fire Control System, Gun Turret, Engine, Ammunition Handling System, Auxiliary Systems, and Chassis. On the basis of range, market is separated into Long Range, Short Range, and Medium Range. Caliber comprises Small Caliber (Mortar, Howitzer, Anti-air, Rocket, and Other Small Calibers), Medium Caliber (Rocket, Howitzer, Mortar, and Other Medium Calibers), and Heavy Caliber (Howitzer and Rocket).
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Top players in the market
The key market players include Elbit Systems Ltd., Nexter Group, IMI Systems Ltd., General Dynamics Corporation, BAE Systems, Lockheed Martin Corporation, Avibras, Hanwha Techwin Co, Ltd., Denel SOC Ltd., and NORINCO Group, among others.
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