Artillery Systems Market Size Worth $20.98 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners

The artillery systems market size is projected to reach US$ 20.98 billion by 2031 from US$ 11.99 billion in 2023 to register a CAGR of 7.2% during 2023–2031.

NEW YORK, Oct. 15, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global artillery systems market is observing healthy growth owing to the rise in procurements of self-propelled artilleries and howitzer systems.

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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, Artillery systems refer to the large sized firearms that are used by various armed forces to perform firing operations in any of their missions. The major artillery systems include howitzers, mortars, and rocket artilleries. Artillery systems allow the armed forces to neutralize or destroy any target during any combat or fire operations. Some of the major factors driving the growth for artillery systems include the rising global military expenditure, increasing number of contracts for supply of artillery systems, and the rising deployment of self-propelled artillery systems by various armed forces worldwide.

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Overview of Report Findings:

1.  Market Growth: The artillery systems market is expected to reach US$ 20.98 billion by 2031 from US$ 11.99 billion in 2023, at a CAGR of 7.2% during the forecast period. Manufacturers operating in the artillery systems market strongly focus on collaborating with different governments and armed forces to comprehend their respective demands and offer them suitable solutions. The military forces of various countries are providing numerous contracts to artillery systems manufacturers to procure several communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in procuring artillery systems such as rocket artillery, mortars, and howitzers. Artillery systems are reliable for taking down short, medium, and long-range targets. They enable armed forces to facilitate enhanced remote firing on ground or naval platforms.

2.  Technological Innovations: The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled artillery systems. The increasing adoption of self-propelled artillery systems reduces the logistics and transportation challenges faced while moving any artillery system. Self-propelled artillery systems allow for the reduction of the operational manpower required to operate any artillery systems such as howitzer or rocket artilleries.

3.  Deployment of Countermeasure Systems: The constant tension between the nations such as Russia-Ukraine, India-China, Pakistan-India, Israel-Palestine, and US-China is compelling their governments to strengthen their respective armed forces, which is also propelling the procurement of warfare systems such as different types of mortars and howitzers. Hence, the armed forces across different countries are investing in procuring artillery systems such as surface-to-air rocket artillery, self-propelled howitzers, early warning systems, and border surveillance systems. BAE Systems, General Dynamics Corporation, Honeywell International Inc., Israel Aerospace Industries Inc., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group are among the companies focusing on developing defense countermeasure systems, including radar systems, artillery systems, communication and surveillance systems, and navigation devices.

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4.  Government Investments for Military Procurements: The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports the army and military forces to obtain enhanced technologies and equipment from domestic or international developers. On the other hand, military and army vehicle upgrades are on the rise owing to growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring artillery systems and other advanced technologies.

5.  Geographical Insights: Emerging markets, particularly in regions such as Asia Pacific and the Middle East, are key contributors to the growth of the global artillery systems market. Increased defense budgets, territorial tensions, and emphasis on indigenous defense capabilities characterize these regions. Governments in emerging markets are actively procuring artillery systems to build robust defense postures and reduce dependency on foreign suppliers. The procurement trends in these regions include a mix of imported systems and indigenous development initiatives.

Market Segmentation:

• Based on component, the artillery systems market is segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment held a larger share of the artillery systems market in 2023.
• By range, the artillery systems market is segmented into short range, medium range, and long range. The medium range segment held the largest share of the artillery systems market in 2023.

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• In terms of caliber, the artillery systems market is divided into small caliber, medium caliber, and large caliber. The medium caliber segment held a larger share of the artillery systems market in 2023.
• Based on type, the artillery systems market is segmented into howitzer, mortar, and rocket artillery. The howitzer segment held a larger share of the artillery systems market in 2023.
• The artillery systems market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.

Competitive Strategy and Development:

• Key Players: A few major companies operating in the artillery systems market include Avibras Indústria Aeroespacial S/A; BAE Systems Plc; Nexter Groupe KNDS; Denel Land Systems; Elbit Systems Ltd; General Dynamics; ST Engineering; Lockheed Martin Corporation; Rheinmetall AG; and Mandus Group.
• Trending Topics: Howitzer Market, Mortar Systems Market, Self-Propelled Artillery.

Global Headlines on Artillery Systems Market:

• "The Pentagon revealed an additional allocation of presidential drawdown support destined for Ukraine."
• "Shift5, Inc., the onboard operational technology (OT) observability platform, disclosed a contract with the U.S. Army aimed at enhancing the cybersecurity of the High Mobility Artillery Rocket System (HIMARS)."
• "Canada made a significant contribution to the Security Forces of Ukraine by delivering a number of M777 howitzers."
• "Colombia finalized an agreement with Israel's Elbit Systems Ltd for the acquisition of 18 units of the 155mm howitzer Atmos."

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The global artillery systems market plays a pivotal role in shaping the military capabilities of nations, influencing defense strategies, and contributing to geopolitical dynamics. With a multifaceted landscape influenced by technological advancements, security threats, and international collaborations, the artillery systems market growth is characterized by ongoing modernization efforts, diversification of capabilities, and the integration of cutting-edge technologies. The demand for diversified artillery capabilities is a key factor shaping the global market. Nations seek artillery systems that can address a spectrum of operational scenarios, from conventional warfare to counterinsurgency operations. This diversification includes the development and acquisition of various artillery types, such as towed howitzers, self-propelled artillery, rocket launchers, and mortars. The goal is to possess a versatile artillery portfolio that can respond effectively to different threats and terrains.

Collaborations and partnerships between nations and defense contractors are bolstering the global artillery systems market growth. International alliances contribute to technology transfer, joint development programs, and the exchange of expertise. For instance, in December 2023, BAE Systems, based in the UK, secured a substantial US$ 8.8 billion contract to maintain and operate a USD Army ammunition plant in Tennessee. The contract, awarded by the Department of Defense (DoD), spans a duration of 10 years, running from January 1, 2024, to December 31, 2033. BAE Systems is tasked with the production of explosives, as well as the maintenance and operation of the Holston Army Ammunition Plant. This significant and long-term contract not only underscores BAE Systems' role in supporting the US defense infrastructure but also highlights the strategic importance of private-sector partnerships in ensuring the sustained production and operation of critical military assets. The contract reflects ongoing defense expenditure, emphasizing the continued importance of defense investments globally. Nations worldwide are consistently investing in the maintenance and enhancement of their military capabilities, driving the global defense market.

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Conclusion:

The rise in military expenditures across countries and increase in tensions among countries are among the major factors propelling the demand for artillery systems across the world. Several countries are taking serious actions to ensure the safety of their nation for which they are collaborating with other countries by joining forces to increase their armed forces capabilities. For instance, after the Russia Ukraine invasion, the US has been taking initiatives to increase its military presence across European countries for long haul by establishing its first permanent presence in Poland to bolster regional security. For this, it will be deploying its several forces in the country along with required ammunitions and firearms. Such initiatives are driving the growth of the artillery systems market across the world.

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The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrator, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

Related Report Titles:

• Mortar Artillery System Market Size and Forecasts (2021 - 2031)
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• Howitzer Market Forecast to 2030
• Mortar Systems Market Size and Growth 2031
• Military Fire Control System Market Size and Forecasts (2021 - 2031)
• Airborne Fire Control Radar Market Size and Forecasts (2021 - 2031)
• Ammunition Handling System Market Size and Forecasts (2021 - 2031)
• Ammunition Handling and Ramming System Market Size and Forecasts (2021 - 2031)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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