Global Artillery Systems Market to Reach US$ 5.7 Billion by 2032, Stimulated by Increasing Military Spending

October 17, 2022 | Aerospace and Defense

IMARC Group’s latest 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,” finds that the global artillery systems market size reached US$ 4.2 Billion in 2023. Artillery systems refer to heavy, long-range weapons and guns that utilize an exploding propellant charge to shoot a projectile along an unpowered trajectory. Some commonly used artillery systems include multiple launch rocket systems (MLRS), howitzers, mortars, air defense guns, man-portable air-defense systems (MANPADS), and rocket launchers. They are widely used by military forces to launch munitions far beyond the range and power of infantry weapons or small firearms. They are also utilized for high strategic and tactical mobility and assist in providing fire support to the arms in combat, attacking targets, and neutralizing gun emplacements of the enemy forces. They offer higher accuracy, precise firepower, quick response, and reduced reload time than their traditional counterparts. As a result, artillery systems are gaining immense traction across the military and defense sectors.

Global Artillery Systems Market Trends:

The increasing military spending, especially in emerging countries, to strengthen national security and warfare and firepower capabilities represent the primary factor driving the market growth. This can be attributed to the rising cross-border conflicts, geopolitical tensions, and terrorism coupled with changing nature of warfare across the globe. Moreover, there has been widespread adoption of artillery systems by land, air, and naval forces during training for war and to protect against fast-moving objects. In line with this, the growing need for high-precision arms and ammunition to support friendly troops and reduce collateral damage has augmented the demand for artillery systems. Besides this, the surging popularity of single-barrel weapon systems that are lighter, cost-effective, and can fire rapid successive shots is fueling the market growth. In addition, the leading players are introducing lightweight, mobile, and self-propelled artillery systems that can be brought into action much faster and provide long-range indirect fire support on the battlefield. Along with this, the launch of weapon modernization programs to develop and adopt new, next-generation artillery systems has catalyzed market growth. Other factors, including the expanding defense budget, escalating demand for howitzers to attack targets using indirect and direct fire, rapid modernization of the armed forces, and rising automation of artillery firing systems, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 5.7 Billion by 2032, growing at a CAGR of 3.3% during 2024-2032.

Market Summary:

  • Based on the type, the market has been segmented into rocket, anti-air, howitzer, mortar, and others. 
  • On the basis of the component, the market has been classified into fire control system, chassis, engine, gun turret, and others. 
  • The market has been divided based on the caliber into small, medium, and heavy. 
  • Based on the range, the market has been categorized into short, medium, and long ranges.
  • On the basis of the end user, the market has been bifurcated into aerospace and defense and homeland security. 
  • Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being 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, and Singapore Technologies Engineering.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Component, Caliber, Range, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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 and Singapore Technologies Engineering
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Post-Sale Analyst Support 10-12 Weeks
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Global Artillery Systems Market to Reach US$ 5.7 Billion by 2032, Stimulated by Increasing Military Spending
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