Artillery Systems Market Is Set to Boom in 2019 And Coming Years
The Global Artillery Systems Market is estimated to reach USD 17.2 Billion by 2025 at a CAGR of 6.9%.
Artillery Systems are heavy military and long-range weapons built to launch ammunition beyond the specific range with destruction. Artillery systems include field, naval, coastal and anti-air artillery systems which consist of howitzers, mortars, rockets and similar other systems. With the advancement of technology artillery systems upgrades to self-propelled, lighter, more mobile, and enhanced firepower for battlefield use. Artillery systems have advantages that include precise firepower, superior accuracy and less reload time. Thus it is widely used in the defense forces, globally.
Artillery Systems Market: Drivers & Restraints
Market Drivers:
Increasing Focus on Defence Expenditure by Emerging Economies
Since the end of World War II, most of the countries focused on developing the idea that a major feature of security policy was defense industrial base (DIB). Countries focused on manufacturing fighter aircraft or tanks instead of production of car and bus, nations maintained their defense industries, continuously ready to respond to the external threats. For instance, the US spends USD 649 billion on its national defense which is more than the spending of countries including China, Saudi Arabia, India, France, Russia, the United Kingdom, and Germany (USD 609 Billion).
Hence, the increasing focus on the defense expenditure expected to surge the artillery system market during the forecast period.
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Increasing Demand for Artillery Systems
The demand for artillery systems is increasing globally owing to achieve the self-reliance by developing economies, the focus of modernization must be on the indigenization of weapon systems. This demands an ideal interface between academia, R&D, PSUs, civil industry and the users, which must be benefited at the apex level. This is one of the key factors responsible for the increase of artillery systems in the near future.
Market Restraints:
High Maintenance Cost
With the improvement in technology of artillery systems, it has to increase missile range, speed and accuracy of the weapons, expansion of the battle radius, the new type ammunition, the fire control system, the large area killing weapons are more and more prominent. Thus, to improve the ability, maintenance, and support of the artillery unit’s costs high, which is not affordable to the developing economies. As a result, the high maintenance cost is expected to traction toward the market growth over the forecast period.
Artillery Systems Market: Key Segments
- Key Segments by Type: Field Artillery, Anti-Air Artillery, Naval Artillery, Coastal Artillery, and Others
- Key Segments by Component: Gun Turret, Ammunition Handling System, Auxiliary System, Fire Control System, and Others
- Key Segments by Caliber: Small Caliber, Medium Caliber, and Large Caliber
- Key Segments by Range: Short Range, Medium Range, and Long Range
- Key Regions Covered: North America, Europe, Asia-Pacific, Middle East & Africa, and South America, with individual country-level analysis.
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List of the leading companies operating in the Artillery Systems Market include:
- BAE Systems (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- General Dynamics Ordnance and Tactical Systems
- Elbit Systems Ltd.
- Avibras Aerospace Industry S / A
- RUAG Group
- Singapore Technologies Engineering Ltd
- IMI Systems
- Lockheed Martin Corporation
- Denel SOC Ltd
- Hanwha Group
- Other Key Companies
Artillery Systems Market: Report Scope
The report on the artillery systems market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Artillery Systems Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Artillery Systems Market, by Type
Field Artillery
- Howitzer
- Guns
- Mortars
- Others
Anti-Air Artillery
Naval Artillery
Coastal Artillery
Others
Artillery Systems Market, by Component
- Gun Turret
- Ammunition Handling System
- Auxiliary System
- Fire Control System
- Others
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Artillery Systems Market, by Caliber
- Small Caliber
- Medium Caliber
- Large Caliber
Artillery Systems Market, by Range
- Short Range
- Medium Range
- Long Range
Artillery Systems Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
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