North America Artillery Systems Market Forecast to 2031 - Regional Analysis

Description

List of Tables

The North America artillery systems market was valued at US$ 4,005.96 million in 2023 and is expected to reach US$ 7,017.63 million by 2031; it is estimated to register a CAGR of 7.3% from 2023 to 2031.

Rising Global Military Expenditure Fuels North America Artillery Systems Market

The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports army and military forces to obtain enhanced technologies and equipment from domestic or international developers. On the other hand, military and army vehicle upgrades are on the rise owing to growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring artillery systems and other advanced technologies. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure worldwide.

As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2443 billion in 2023, representing a 13.7% increase from 2022. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2023, accounting for around 61% of global expenditures. The figure given below depicts the yearly spending of these countries.

Military Expenditure of Top Five Countries (2021-2023)

Country

2021 (US$ Billion)

2022 (US$ Billion)

2023 (US$ Billion)

800.67
876.94
916.00

China

293.35
291.96
296.00

Russia

65.91
86.37
109.01

India

76.59
81.36
83.60

Saudi Arabia

55.56
75.01
75.80

Source: SIPRI

The increasing military expenditure encourages incorporating advanced warfare technologies such as high-range antennas, self-propelled artillery, advanced communication devices, unmanned vehicles, radars, missile detection systems, surveillance and navigation systems, and modern warfare technologies. In addition, a high military budget supports the countries in assigning resources for the advancement and upgrade of their existing air, ground-based, and naval defense systems.

North America Artillery Systems Market Overview

The North America artillery systems market plays a pivotal role in shaping the military capabilities of nations, influencing defense strategies, and contributing to geopolitical dynamics. With a multifaceted landscape influenced by technological advancements, security threats, and international collaborations, the artillery systems market is characterized by ongoing modernization efforts, diversification of capabilities, and the integration of cutting-edge technologies. The demand for diversified artillery capabilities is a key factor shaping the global market. Nations seek artillery systems that can address a spectrum of operational scenarios, from conventional warfare to counterinsurgency operations. This diversification includes the development and acquisition of various artillery types, such as towed howitzers, self-propelled artillery, rocket launchers, and mortars. The goal is to possess a versatile artillery portfolio that can respond effectively to different threats and terrains.

Collaborations and partnerships between nations and defense contractors are common in the North America artillery systems market. International alliances contribute to technology transfer, joint development programs, and the exchange of expertise. For instance, in December 2023, BAE Systems, based in the UK, secured a substantial $ 8.8 billion contract to maintain and operate a USD Army ammunition plant in Tennessee. The contract, awarded by the Department of Defense (DoD), spans a duration of 10 years, running from January 1, 2024, to December 31, 2033. BAE Systems is tasked with the production of explosives, as well as the maintenance and operation of the Holston Army Ammunition Plant. This significant and long-term contract not only underscores BAE Systems' role in supporting U.S. defense infrastructure but also highlights the strategic importance of private-sector partnerships in ensuring the sustained production and operation of critical military assets. The contract reflects ongoing defense expenditure, emphasizing the continued importance of defense investments globally. Nations worldwide are consistently investing in the maintenance and enhancement of their military capabilities, driving the global defense market.

Geopolitical considerations significantly influence the North America artillery systems market. Strategic rivalries, territorial disputes, and regional conflicts drive the demand for artillery capabilities. Nations often align their procurement strategies with perceived threats and geopolitical realities. The arms race and military build-up in certain regions contribute to the growth of the artillery market as countries strive to maintain strategic parity or superiority.

North America Artillery Systems Market Revenue and Forecast to 2031 (US$ Million)

North America Artillery Systems Market Segmentation

The North America artillery systems market is categorized into component, range, caliber, type, and country.

Based on component, the North America artillery systems market is segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment held the largest North America artillery systems market share in 2023.

In terms of range, the North America artillery systems market is segmented into short range, medium range, and long range. The medium range segment held the largest North America artillery systems market share in 2023.

By caliber, the North America artillery systems market is divided into small caliber, medium caliber, and large caliber. The medium caliber segment held the largest North America artillery systems market share in 2023.

Based on type, the North America artillery systems market is categorized into howitzer, mortar, and rocket artillery. The howitzer segment held the largest North America artillery systems market share in 2023.

Based on country, the North America artillery systems market is categorized into the US, Canada, and Mexico. The US dominated the North America artillery systems market share in 2023.

BAE Systems Plc, Lockheed Martin Corp, Elbit Systems Ltd, Leonardo DRS Inc, Rheinmetall AG, KMW+NEXTER Defense Systems NV, and Singapore Technologies Engineering Ltd are some of the leading companies operating in the North America artillery systems market.

Product Code: BMIRE00031320

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Artillery Systems Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis

5. North America Artillery Systems Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Global Military Expenditure
- 5.1.2 Increasing Number of Contracts for Supply of Artillery Systems
5.2 Market Restraints
- 5.2.1 Limited Space for Ammunitions in Artillery Systems
5.3 Market Opportunities
- 5.3.1 Deployment of Countermeasure Systems
5.4 Future Trends
- 5.4.1 Deployment of Self-Propelled Artillery Systems
5.5 Impact of Drivers and Restraints:

6. Artillery Systems Market - North America Market Analysis

6.1 North America Artillery Systems Market Revenue (US$ Million), 2021-2031
6.2 Artillery Systems Market Forecast Analysis

7. North America Artillery Systems Market Analysis - by Component

7.1 Gun Turret
- 7.1.1 Overview
- 7.1.2 Gun Turret: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Fire Control System
- 7.2.1 Overview
- 7.2.2 Fire Control System: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Ammunition Handling System
- 7.3.1 Overview
- 7.3.2 Ammunition Handling System: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Auxiliary System
- 7.4.1 Overview
- 7.4.2 Auxiliary System: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Artillery Systems Market Analysis - by Range

8.1 Short Range
- 8.1.1 Overview
- 8.1.2 Short Range: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Medium Range
- 8.2.1 Overview
- 8.2.2 Medium Range: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Long Range
- 8.3.1 Overview
- 8.3.2 Long Range: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Artillery Systems Market Analysis - by Caliber

9.1 Small Caliber
- 9.1.1 Overview
- 9.1.2 Small Caliber: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Medium Caliber
- 9.2.1 Overview
- 9.2.2 Medium Caliber: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Large Caliber
- 9.3.1 Overview
- 9.3.2 Large Caliber: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Artillery Systems Market Analysis - by Type

10.1 Howitzer
- 10.1.1 Overview
- 10.1.2 Howitzer: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
10.2 Mortar
- 10.2.1 Overview
- 10.2.2 Mortar: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
10.3 Rocket Artillery
- 10.3.1 Overview
- 10.3.2 Rocket Artillery: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)

11. North America Artillery Systems Market - Country Analysis

11.1 North America
- 11.1.1 North America Artillery Systems Market Overview
- 11.1.2 North America: Artillery Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 11.1.2.1 North America: Artillery Systems Market - Revenue and Forecast Analysis - by Country
  - 11.1.2.2 United States: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.2.1 United States: Artillery Systems Market Breakdown, by Component
    - 11.1.2.2.2 United States: Artillery Systems Market Breakdown, by Range
    - 11.1.2.2.3 United States: Artillery Systems Market Breakdown, by Caliber
    - 11.1.2.2.4 United States: Artillery Systems Market Breakdown, by Type
  - 11.1.2.3 Canada: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.3.1 Canada: Artillery Systems Market Breakdown, by Component
    - 11.1.2.3.2 Canada: Artillery Systems Market Breakdown, by Range
    - 11.1.2.3.3 Canada: Artillery Systems Market Breakdown, by Caliber
    - 11.1.2.3.4 Canada: Artillery Systems Market Breakdown, by Type
  - 11.1.2.4 Mexico: Artillery Systems Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.4.1 Mexico: Artillery Systems Market Breakdown, by Component
    - 11.1.2.4.2 Mexico: Artillery Systems Market Breakdown, by Range
    - 11.1.2.4.3 Mexico: Artillery Systems Market Breakdown, by Caliber
    - 11.1.2.4.4 Mexico: Artillery Systems Market Breakdown, by Type

12. Competitive Landscape

12.1 Company Positioning & Concentration
12.2 Impact of Geopolitical War

13. Industry Landscape

13.1 Overview
13.2 Market Initiative

14. Company Profiles

14.1 BAE Systems Plc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Lockheed Martin Corp
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Elbit Systems Ltd
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Leonardo DRS Inc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Rheinmetall AG
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 KMW+NEXTER Defense Systems NV
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Singapore Technologies Engineering Ltd
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments

15. Appendix

15.1 About The Insight Partners