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Artillery Systems Market Size Forecast: $14.94 Billion by 2029 | Global Outlook
Artillery Systems
What Is the Projected Market Size Valuation of the Artillery Systems Market by 2025?
The market size for artillery systems has experienced substantial growth in the past few years, with an expected rise from $10.66 billion in 2024 to $11.46 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. This progress in the historical period can be traced back to the advancement in indirect fire support systems, an increased need for counter-drone artillery solutions, a surge in demand for long-range artillery, and the development of urbanization and megacity conflicts.
What Is the Estimated Market Growth Value for the Artillery Systems Industry in 2029?
The market for artillery systems is anticipated to experience considerable expansion in the coming years. It is projected to reach a value of $14.94 billion in 2029, representing a compound annual growth rate (CAGR) of 6.9%. This predicted growth in the forecast period is linked to factors such as the upward trend in global defense expenditure, heightened risk of military confrontations, changing geopolitical landscapes, an increased demand for counter-drone artillery measures, the ongoing push for military modernization as well as a focus on sustainability and fuel efficiency. Furthermore, the upcoming period is likely to witness significant trends such as the incorporation of artificial intelligence into artillery systems, a move towards network-centric warfare, the integration of electronic warfare capacities, strategic collaboration and the inclusion of anti-jamming features in artillery systems.
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What Are the Growth Drivers and Opportunities in the Artillery Systems Market?
Anticipations of escalating armed conflict are predicted to enhance the momentum of the artillery systems market. Armed conflict signifies a scenario of methodical violence involving two or more groups such as nations, non-state entities, or intra-state factions, wielding armed forces to address dissensions. The escalating intricacies and interdependencies of international concerns, paired with geopolitical rivalries, local instabilities, and societal tensions are leading to a perceived increase in the threats of armed conflicts. Artillery systems, being adaptable and formidable weapons, have the ability to transform the battlefield, assist ground operations, and influence the outcomes of these conflicts. As an example, the Armed Conflict Location and Event Data Project (ACLED), a non-governmental organization based in the US reported in January 2024 that conflict events experienced a rise of 12% in 2023 from the previous year. Hence, the intensifying threats of armed conflicts are expected to fuel the artillery systems market.
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What Are the Primary Segments Covered in the Global Artillery Systems Market Report?
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
Subsegments:
1) By Howitzer: Towed Howitzers, Self-Propelled Howitzers, Light Howitzers
2) By Mortar: Towed Mortars, Self-Propelled Mortars, Hand-Held Mortars
3) By Anti-Air Artillery: Small Caliber Anti-Aircraft Guns, Medium Caliber Anti-Aircraft Guns, Large Caliber Anti-Aircraft Guns
4) By Rocket Artillery: Multiple Launch Rocket Systems (MLRS), Tactical Rocket Systems, Long-Range Rocket Systems
5) By Other Types: Coastal Artillery, Naval Artillery, Rail Guns
What Are the Top Growth Trends in the Artillery Systems Market?
Prominent companies in the artillery systems market are concentrating their efforts in innovating technologically superior products, such as automated truck-mounted howitzers, to enhance mobility, firepower and operational effectiveness in military environments. This modern artillery system incorporates a howitzer into a truck chassis, facilitating movement and swift deployment on the battlefield. For example, in February 2024, Norinco, a company based in China primarily involved in the production of military and defense technologies, launched a new truck-mounted howitzer. The inventive system includes a highly automated model that merges a 6x6 truck chassis with a turret that's unmanned and houses a 155mm L/52 howitzer. The fresh platform combines the well-known 14-ton SH16 unmanned turret with a 6x6 truck chassis. It boasts a battle weight of 32 tons (roughly 70,000 pounds), and stability during operation is secured via a rear earth spade. Only two crew members operate the system from within a fortified cab.
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Which Companies Are Shaping the Future of the Artillery Systems Market?
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.
Which Region Holds the Largest Market Share in the Artillery Systems Industry?
North America was the largest region in the artillery systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artillery systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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