Artillery Systems Market Forecast and Growth 2031

Artillery Systems Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Gun Turret, Fire Control System, Ammunition Handling System, Auxiliary System, Others); Range (Short Range, Medium Range, Long Range); Caliber (Small Caliber, Medium Caliber, Large Caliber); Type (Howitzer, Mortar, Rocket Artillery); and Geography

  • Report Code : TIPRE00006735
  • Category : Aerospace and Defense
  • No. of Pages : 150
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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% in 2023–2031. The deployment of self-propelled artillery systems is likely to remain a key artillery systems market trend.

Artillery Systems Market Analysis

Many countries have been investing a significant portion of their respective military expenditure for the procurement of advanced fire control systems for their existing artilleries. Rising procurement of new artillery systems by different countries and increasing modification of existing artillery systems are among the factors propelling the demand for fire control systems across different regions. For instance, in March 2023, the Indian Navy awarded a contract worth nearly US$ 204 million to BEL for the procurement of fire control systems for their respective naval fleet of artillery guns. Similarly, in September 2023, Elbit Systems Ltd won a contract worth US$ 200 million for supplying C4I solution to artillery battalions and a Hostile Fire Counter Attack (HFCA) system to an undisclosed customer in the European Union. Such factors are promoting the growth of the fire control system segment in the global artillery systems market.

Artillery Systems Market Overview

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.

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Artillery Systems Market: Strategic Insights

Artillery Systems Market

  • CAGR (2023 - 2031)
    7.2%
  • Market Size 2023
    US$ 11.99 billion
  • Market Size 2031
    US$ 20.98 billion

Market Dynamics

GROWTH DRIVERS
  • Surging Defense Expenditure
  • Rise in Number of Contracts for Supply of Artillery Systems
FUTURE TRENDS
  • Deployment of Self-Propelled Artillery Systems
OPPORTUNITIES
  • Deployment of Countermeasure Systems

Key Players

  • 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
  • Leonardo DRS Inc

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Gun Turret
  • Fire Control System
  • Ammunition Handling System
  • Auxiliary System
  • Others
Range
  • Short Range
  • Medium Range
  • Long Range
Caliber
  • Small Caliber
  • Medium Caliber
  • Large Caliber
Type
  • Howitzer
  • Mortar
  • Rocket Artillery
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Artillery Systems Market Drivers and Opportunities

Allocation of Contracts for the Supply of Artillery Systems

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.

Deployment of Countermeasure Systems – An Opportunity in Artillery Systems Market

The changing geopolitical scenario worldwide boosts the requirement for strong defense 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. Thus, the increasing procurement and deployment of countermeasure systems is expected to fuel the growth of the artillery systems market in the coming years.

Artillery Systems Market Report Segmentation Analysis

Key segments that contributed to the derivation of the artillery systems market analysis are component, range, caliber, and type.

  • Based on component, the artillery systems market is divided into gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment held a larger market share in 2023.
  • Based on range, the market is segmented into short range, medium range, and long range. The medium range segment held a larger market share in 2023.
  • In terms of caliber, the market is segmented into small caliber, medium caliber, and large caliber. The medium caliber segment dominated the market in 2023.
  • Based on type, the market is segmented into howitzer, mortar, and rocket artillery. The howitzer segment held a larger market share in 2023.

Artillery Systems Market Share Analysis by Geography

The geographic scope of the artillery systems market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America.

In 2023, North America accounted for a major share in the global artillery systems market followed by Europe and Asia Pacific. Also, the North America region is likely to retain its dominance during the forecast period as well. This is due to the presence of large number of artillery systems manufacturers such as BAE Systems, General Dynamics Ordnance and Tactical Systems, American Rheinmetall Munitions Inc, Lockheed Martin, and many more. These companies are collaboratively working with different armed forces of North American countries to understand their respective demands and provide them with reliable solutions.

Artillery Systems Market Report Scope

Report Attribute Details
Market size in 2023 US$ 11.99 billion
Market Size by 2031 US$ 20.98 billion
Global CAGR (2023 - 2031) 7.2%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Component
  • Gun Turret
  • Fire Control System
  • Ammunition Handling System
  • Auxiliary System
  • Others
By Range
  • Short Range
  • Medium Range
  • Long Range
By Caliber
  • Small Caliber
  • Medium Caliber
  • Large Caliber
By Type
  • Howitzer
  • Mortar
  • Rocket Artillery
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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
  • Leonardo DRS Inc
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
     

    Artillery Systems Market News and Recent Developments

    The artillery systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:

    • In February 2023, BAE Systems secured a contract worth $466 million to provide the U.S. Army with its M109A7 Paladin self-propelled howitzers. As per the announcement from the U.S. Department of Defense, the contract encompasses the supply of M992 Field Artillery Ammunition Support Vehicles. The specific quantity of howitzers and support carriers included in the order has not been disclosed. (Source: BAE Systems plc, Press Release)
    • In November 2023, L3Harris Technologies secured contracts valued at up to $124 million for the comprehensive refurbishment of fire control systems on rocket launch vehicles. These contracts task L3Harris Technologies with the responsibility of enhancing the Common Fire Control System (CFCS) installed on both the M142 High Mobility Artillery Rocket Systems (HIMARS) and M270 Multiple Launch Rocket System (MLRS) vehicles, manufactured by Lockheed Martin, an aerospace and defense company. (Source: L3Harris Technologies, Newsletter)

    Artillery Systems Market Report Coverage and Deliverables

    The “Artillery Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:

    • Artillery Systems Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Artillery Systems Market trends
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Artillery Systems Market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
    • Artillery Systems Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component, Range, Caliber, Type, and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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