artillery systems Market

The artillery systems market size is projected to reach US$ 20.98 billion by 2031 from US$ 11.99 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023-2031. Rising deployment of self-propelled artillery systems is likely to bring in new trends in the market.

The artillery systems market has been segmented on the basis of component, range, caliber, type, and geography. Based on component, the artillery systems market has been segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. Based on range, the artillery systems market has been segmented into short range, medium range, and long range. Based on caliber, the artillery systems market has been segmented into small caliber, medium caliber, and large caliber. Based on type, the artillery systems market has been segmented into howitzer, mortars, and rocket artillery. On the basis of geography, the artillery systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The major stakeholders in the global artillery systems market ecosystem include component suppliers, artillery system manufacturers, and end-users. The raw material /component providers are the crucial stakeholders in the ecosystem of the artillery systems market. The major components used in artillery systems includes gun barrels, auxiliary systems, fire systems, ammunition handling systems and other components. The timely supply of all these components is crucial for efficient operation across artillery system manufacturing plants. Thus, any operational impact on these component providers directly impacts the artillery systems market. For instance, in 2020 the raw material suppliers faced challenges such as scarcity of raw material, chemicals, metals, etc.

The artillery systems market players include Elbit Systems, BAE Systems, Elbit Systems, Lockheed Martin, General Dynamics, and many more. The artillery systems market has many small players engaged in the business which holds a significant portion of the global market. The small players are also involved in R&D activities for developing the new technologies which are further strengthening the market size over the coming years. These organizations over the years have increased their investment in the development of new and advanced artilleries as per the growing customer needs with the help of government regulatory bodies. The government regulatory body helps the manufacturer by providing the contract to military forces, homeland security, and border security forces.

The major end-users of the artillery systems market include military forces, homeland security, and border security forces. The end users are the key stakeholders of the artillery systems market as it creates the demand for the product further, leveraging the artillery systems market growth over the forecast period.

Avibras Ind?stria 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 are among the key players covered in the artillery systems market report. Companies in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.