Key companies profiled in — Artillery Systems Market report include include Elbit Systems (Israel), BAE Systems (UK), China Ordnance Industries Group Corporation (NORINCO) (China), Hanwha Group (South Korea), KMW+Nexter Defense Systems KNDS (Netherlands), Denel SOC Ltd (South Africa), IMI Systems (Israel), Lockheed Martin (US), ST Engineering (Singapore), RUAG Group (Switzerland), General Dynamics (US), and Avibras (Brazil).
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Artillery system market is expected to grow from USD 9.83 billion in 2017 to USD 13.94 billion by 2022, at a CAGR of 7.23% during forecast period. This growth can be attributed to increasing demand for artillery systems from military sector and ongoing military modernization programs worldwide. “Based on range, medium range segment is expected to lead artillery system market during forecast period.”
1 Attractive Opportunities in the Artillery Systems Market
2 Howitzer Artillery Systems Market, By Subtype
3 Mortar Artillery Systems Market, By Subtype
4 Anti-Air Artillery Systems Market, By Subtype
5 Rocket Artillery Systems Market Share, By Subtype
6 Other Artillery Systems Market Share, By Subtype
7 Asia Pacific Artillery Systems Market, By Country and Type
8 Artillery Systems Market, By Region
Artillery systems market has been segmented on basis of type (howitzer, mortar, anti-air, rocket, and other),range(short range, medium range, & long range), caliber (small caliber, medium caliber, and heavy caliber), component (Gun turret, engine, fire control systems, ammunition handling system, chassis, and auxiliary systems), and region. This report presents a comprehensive overview of artillery systems market during forecast period.
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Artillery system market has been segmented into short range, medium range, and long range. The medium range segment is expected to lead the artillery system market from 2017 to 2022. Medium range guns have higher accuracy as compared to long-range artillery systems and are used form destruction of targets that are in moderate range.
2 Technological Trends in the Artillery Systems Market
3 Programmable Ammunition
4 Improved Ammunition Carrying Capability
5 Integrated Turret Gun Systems
6 Hybrid Power Systems
7 Multiple Rounds Simultaneous Impact (MRSI)
8 Trajectory Correction System (TCS)
9 Advanced Fire Control Systems
10 Innovations & Patent Registrations
The artillery systems market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The upgrade of warfare platforms by military forces of various countries in the Asia Pacific region is projected to drive the growth of the artillery systems market in this region. China, India, and South Korea are major countries investing in the procurement of artillery systems and related technologies.
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The high cost of self-propelled artillery systems and failure of the gun system in adverse weather conditions are key challenges to the growth of the artillery systems market. “Increasing demand for artillery systems from the military sector and ongoing military modernization programs worldwide major factors driving the growth of the artillery system market.”
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