Market Research Report
Artillery Systems Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 - 2025
|Published by||Variant Market Research LLP||Product code||642067|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Artillery Systems Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 - 2025|
|Published: May 2, 2018||Content info: 100 Pages||
Artillery Systems Market (By Type: Mortar, Howitzer, Anti-Air, Rocket, and Other Types; By Component: Fire Control System, Gun Turret, Engine, Ammunition Handling System, Auxiliary Systems, and Chassis; By Range: Long Range, Short Range, and Medium Range; By Caliber: Small Caliber, Medium Caliber, and Heavy Caliber; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 - 2025.
Global Artillery Systems Market is estimated to reach $19.13 billion by 2025; growing at a CAGR of 8.8% from 2017 to 2025. Artillery systems include large military weapons built to fire munitions far beyond the range & power of infantry's small arms. With improved technology, lighter, more mobile field artillery are developed for battlefield use. The demand for the artillery systems is mainly driven by the expected procurement of key defense spending nations that are presently involved in conflicts, and developing economies involved in territorial disputes as well as countering insurgencies. Additionally, the need to keep a sufficient inventory of second line of fire artillery systems for militaries around the globe and high demand for training systems are likely to have a positive impact on demand of the artillery systems.
Key factors driving the growth of the global artillery systems market include growing demand for artillery systems from the military sector as well as ongoing military upgradation programs across the globe. However, restricted space for ammunition storage may hinder the growth of the artillery systems market. Moreover, growing defense expenditure of developing countries would offer new growth opportunities for players in this market.
The artillery systems market has been categorized on the basis of type, component, range, caliber, and geography. By type, the market is further subsegmental into Mortar (Self-propelled, and Towed), Howitzer (Self-propelled, and Towed), Anti-air (Air Defense Gun, and Counter Rocket, Artillery and Mortar (C-RAM)), Rocket (Multiple Launch Rocket System (MLRS), and Man-portable Air-defense Systems (MANPADS)), and Other Types (Coastal Artillery, and Naval Artillery). Component is further categorized as Fire Control System, Gun Turret, Engine, Ammunition Handling System, Auxiliary Systems, and Chassis. On the basis of range, market is separated into Long Range, Short Range, and Medium Range. Caliber comprises Small Caliber (Mortar, Howitzer, Anti-air, Rocket, and Other Small Calibers), Medium Caliber (Rocket, Howitzer, Mortar, and Other Medium Calibers), and Heavy Caliber (Howitzer and Rocket).
Global artillery systems market, on the basis of geography is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are BAE Systems, Lockheed Martin Corporation, Elbit Systems Ltd., Nexter Group, General Dynamics Corporation, Avibras, Hanwha Techwin Co, Ltd., NORINCO Group, Denel SOC Ltd., and IMI Systems Ltd., among others.