Artillery Systems Market: Demand, Growth Challenges, Industry Analysis And Forecasts To 2033

The artillery systems market size has grown strongly in recent years. It will grow from $10.18 billion in 2023 to $11.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growth of indirect fire support systems, rising demand for counter-drone artillery solutions, rising demand for long-range artillery, growth of urbanization and megacity conflicts.

The artillery systems market size is expected to see strong growth in the next few years. It will grow to $14.33 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing global defense spending, growing threats of armed conflict, rising geopolitical, rising demand for counter-drone artillery solutions, the increased focus on military modernization, emphasis on sustainability and fuel efficiency. Major trends in the forecast period include integration of artificial intelligence in artillery systems, shift towards network-centric warfare, integration of electronic warfare capabilities, strategic partnership, integration of anti-jamming features in artillery systems.

Market Overview -
Artillery systems refer to a category of military equipment designed for the use of artillery, which involves the use of large-caliber guns or cannons to launch projectiles over long distances. These systems can include various types of artillery pieces, such as howitzers, cannons, and rocket launchers. It can vary in size, range, and firepower, ranging from small mortars to large.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14255&type=smp

Role Of Addressing Growing Threats Of Armed Conflict
The growing threats of armed conflict are expected to propel the growth of the artillery systems market going forward. Armed conflict refers to a state of organized violence between two or more parties, such as states, non-state actors, or factions within a state, involving the use of armed force to resolve disputes. The growing complexity and interconnectedness of global challenges, combined with geopolitical rivalries, regional instabilities, and societal tensions, contribute to the perception that threats of armed conflict are on the rise. Artillery systems are versatile and effective weapons that can shape the battlefield, support ground operations, and influence the outcome of armed conflicts. For instance, in January 2024, according to the Armed Conflict Location and Event Data Project (ACLED), a US-based non-governmental organization, the number of conflict events increased by over 40% from 2020 to 2023 and by 12% in 2023 from 2022. The number of fatalities and events in 2023 also increased by 14% and 28%, respectively. Therefore, growing threats of armed conflict will drive the artillery systems market.

Competitive Landscape -
Major companies operating in the artillery systems market are China North Industries Corporation (NORINCO), Raytheon Technologies Corporation, Lockheed Martin Corporation, Hanwha Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems, Thales Group, Leonardo S.p.A., ST Engineering, Singapore Technologies Engineering Ltd., Science Applications International Corporation, Rheinmetall AG, Serco Group plc, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Saab AB, Bharat Forge Limited, Kongsberg Defence & Aerospace AS, KMW+Nexter Defense Systems N.V., ASELSAN A.S., Hyundai Rotem Company, CMI Defence LLC., Cockerill Maintenance & Ingénierie, Nexter Group, Denel SOC Ltd.

Advancements In Artillery Systems Focus On Demand For Advanced Technologies
Major companies operating in the artillery systems market are focusing on developing technologically advanced products such as automatic truck-mounted howitzers to bolster mobility, firepower, and operational efficacy in military settings. This self-propelled artillery system integrates a howitzer onto a truck chassis, allowing for mobility and rapid deployment on the battlefield. For instance, in February 2024, China North Industries Group Corporation Limited (Norinco), a China-based company primarily involved in the manufacturing of defense and military technology, unveiled a new truck-mounted howitzer. This innovative system features a highly automated design, combining a 6x6 truck chassis with an unmanned turret housing a 155mm L/52 howitzer. The latest platform integrates the familiar 14-ton SH16 unmanned turret onto a 6x6 truck chassis. With a combat weight of 32 tons (equivalent to 70,000 pounds), stability during firing is ensured by an earth spade located at the rear. The system is operated by a mere two crew members within an armored cab.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/artillery-systems-global-market-report

Key Segments -
The artillery systems market covered in this report is segmented -
1) By Type: Howitzer, Mortar, Anti-Air Artillery, Rocket Artillery, Other Types
2) By Caliber: Small, Medium, Heavy
3) By Range: Short Range (5-30 Kilometer), Medium Range (31-60 Kilometer), Long Range (Above 60 Kilometer)
4) By End User: Aerospace And Defense, Homeland Security

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.