Global artillery systems Market size is projected to be valued $19.1 Billion by 2025; with a CAGR of 8.8% from 2017 to 2025. An artillery system is a fully automated gun and a Remotely Controlled Weapon Station (RCWS) based on a 6×6 Volvo commercial articulated vehicle.Artillery system contains advanced sensor-fused and precision-guided munitions which is mainly used is to provide support to the army unit.
Key factors driving the growth of the global artillery systems market include growing demand for artillery systems from the military sector as well as ongoing military upgradation programs across the globe. However, restricted space for ammunition storage may hinder the growth of the artillery systems market. Moreover, growing defence expenditure of developing countries would offer new growth opportunities for players in this market.
The artillery systems market has been categorized 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 Defence Gun, and Counter Rocket, Artillery and Mortar (C-RAM)), Rocket (Multiple Launch Rocket System (MLRS), and Man-portable Air-defence 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).
Global artillery systems market, on the basis of geography 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.
Major companies operating in the global artillery systemsmarket areLockheed Martin Corporation, Elbit Systems Ltd., Nexter Group, IMI Systems Ltd., General Dynamics Corporation, BAE Systems, Avibras, Hanwha Techwin Co, Ltd., Denel SOC Ltd., NORINCO Group, and among others.
The key takeaways from the report
Scope of the Global Artillery Systems Market