Artillery Systems Market Size, Share, Demand, Segmentation & Forecast Analysis 2024-2032

IMARC Group, a leading market research company, has recently released a report titled "Artillery Systems Market Report by Type (Rocket, Anti-Air, Howitzer, Mortar, and Others), Component (Fire Control System, Chassis, Engine, Gun Turret, and Others), Caliber (Small, Medium, Heavy), Range (Short-range, Medium range, Long-range), End User (Aerospace and Defense, Homeland Security), and Region 2024-2032". The study provides a detailed analysis of the industry, including the artillery systems market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global artillery systems market size reached US$ 4.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.3% during 2024-2032.

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Factors Affecting the Growth of the Artillery Systems Industry:

• Global Security Concerns:

The global security environment is becoming increasingly volatile, with conflicts, terrorism, and unrest persisting in various parts of the world. The demand for artillery systems is driven by the need for effective deterrents and combat capabilities in these unstable regions. Artillery systems offer a strategic advantage in both offensive and defensive operations, making them essential components of the military arsenal of a country. The versatility and effectiveness of modern artillery in various combat scenarios, from conventional warfare to counter-insurgency operations, underscore their importance. This ongoing need to address and adapt to security challenges ensures a steady demand for artillery systems.

• Increasing Defense Expenditures:

The geopolitical landscape, marked by regional conflicts, rising tensions among global powers, and the need for national security, is leading to an increase in defense budgets worldwide. Countries are investing heavily in modernizing their military capabilities, including artillery systems, to deter potential threats and enhance their defensive and offensive operations. This increase in defense spending is a direct response to the evolving security challenges and the necessity for robust, technologically advanced military equipment. The heightened expenditure is driving innovation and development within the industry, ensuring that the military forces are equipped with the latest and most effective systems.

• Technological Advancements:

The continuous evolution of technology is supporting the growth of the market. Innovations in precision, range, and firepower are making artillery systems more effective and versatile on the battlefield. The integration of advanced targeting systems, automation, and artificial intelligence (AI) is enhancing the accuracy and efficiency of these weapons, reducing collateral damage and increasing their strategic value. Moreover, the development of new materials and propulsion methods is leading to lighter, more mobile artillery systems, enabling rapid deployment and redeployment, which is critical in modern warfare scenarios.

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Artillery Systems Market Report Segmentation:

By Type:

• Rocket
• Anti-Air
• Howitzer
• Mortar
• Others

Howitzer represents the largest segment as it is a critical component in modern artillery, bridging the gap between traditional cannons and mortars.

By Component:

• Fire Control System
• Chassis
• Engine
• Gun Turret
• Others

Based on the component, the market has been segregated into fire control system, chassis, engine, gun turret, and others.

By Caliber:

• Small
• Medium
• Heavy

On the basis of the caliber, the market has been divided into small, medium, and heavy.

By Range:

• Short-range
• Medium range
• Long-range

Short-range accounts for the majority of the market share due to its efficiency.

By End User:

• Aerospace and Defense
• Homeland Security

Based on the end user the market has been bifurcated into aerospace and defense and homeland security.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

North America's dominance in the artillery systems market is attributed to the rising investments in strengthening the military and defense sector.

Global Artillery Systems Market Trends:

The global landscape is witnessing an increase in military alliances and defense agreements among nations, aiming to enhance collective security and defense capabilities. Such collaborations often involve joint research and development (R&D) projects, co-production agreements, and cross-border sales of military equipment, including artillery systems. These partnerships facilitate the sharing of technology, resources, and expertise, leading to the development of more advanced and interoperable artillery systems. Additionally, these agreements can open up new markets for artillery manufacturers, thereby increasing sales. The collaborative approach not only strengthens the defense posture of allied nations but also drives innovation and competition within the industry.

Top Companies Operated in Artillery Systems Industry:

• Avibras Industria
• Aeroespacial
• BAE Systems plc
• Denel Soc Ltd.
• Elbit Systems Ltd.
• General Dynamics Corporation
• Hanwha Group
• Leonardo SpA
• Lockheed Martin Corporation
• Nexter group KNDS
• Rostec
• RUAG Holding
• Singapore Technologies Engineering

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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