Artillery Systems Market Size (2024 - 2029)

The artillery systems market is projected to experience significant growth over the forecast period, driven by increasing military expenditures in emerging countries and the initiation of weapon modernization programs. The market's expansion is further supported by the rising demand for advanced artillery systems due to escalating regional conflicts and geopolitical tensions. Despite challenges posed by the COVID-19 pandemic, such as supply chain disruptions and reallocated defense budgets, the need for high-precision arms and ammunition continues to bolster the market's prospects.

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Market Size of Artillery Systems Industry

Artillery Systems Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 8.84 Billion
Market Size (2029) USD 12.54 Billion
CAGR (2024 - 2029) 7.24 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Artillery Systems Market Major Players

*Disclaimer: Major Players sorted in no particular order

Artillery Systems Market Analysis

The Artillery Systems Market size is estimated at USD 8.84 billion in 2024, and is expected to reach USD 12.54 billion by 2029, growing at a CAGR of 7.24% during the forecast period (2024-2029).

  • The COVID-19 pandemic affected the market in two key ways. Firstly, disruptions in global supply chains and manufacturing facilities may have caused delays in the production and delivery of artillery systems, impacting procurement timelines for various countries. Secondly, with governments allocating significant resources to address the pandemic's immediate challenges, defense budgets might have been reallocated or constrained, potentially affecting investments in new artillery systems.
  • The increasing military spending of emerging countries is helping them to invest in the development of new and advanced artillery systems. The initiation of weapon modernization programs to develop sophisticated artillery is anticipated to bolster the adoption of newer generation artillery, thus bolstering the market prospects in the coming years. Escalating regional conflicts and geopolitical tensions have led to a growing demand for sophisticated artillery systems capable of precision strikes and quick response times. Also, the changing nature of warfare and the growing demand for high-precision arms and ammunition to support friendly troops while minimizing collateral damage has bolstered the demand for the artillery systems market.

Artillery Systems Industry Segmentation

Artillery is a heavy military ranged weapon built to launch munitions. It is one of the most lethal and inexpensive forms of land-based armament currently employed on a large scale across militaries. All purchases, upgrades, maintenance, and repair of artillery systems are included within the scope of the report. The study assimilates data from various sources pertaining to the latest trends and technological developments in artillery systems to provide a holistic overview. It incorporates data to determine the global demand for such systems.

The artillery systems market is segmented into type, range, and geography. Based on type, the market has been segmented into howitzer, mortar, anti-air artillery, rocket artillery, and other types. The other types include naval and coastal artillery systems. The market has also been segmented by range into short-range (5-30 kilometers), medium-range (31-60 kilometers), and long-range (above 60 kilometers). By geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The market sizing and forecasts have been provided in value (USD).

Type
Howitzer
Mortar
Anti-air Artillery
Rocket Artillery
Other Types (Naval and Coastal Artillery)
Range
Short Range (5-30 kilometers)
Medium Range (31-60 kilometers)
Long Range (Above 60 kilometers)
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
Israel
South Africa
Rest of Middle East and Africa
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Artillery Systems Market Size Summary

The artillery systems market is poised for significant growth over the forecast period, driven by increasing military expenditures and the modernization of defense capabilities across various regions. The market is experiencing a surge in demand due to escalating geopolitical tensions and the evolving nature of warfare, which necessitates the development and procurement of advanced artillery systems. Countries are focusing on enhancing their military firepower, with a particular emphasis on long-range precision fire capabilities. This trend is supported by substantial investments in new and sophisticated artillery systems, as nations seek to bolster their defense readiness and maintain strategic advantages on the battlefield. The market landscape is characterized by a mix of global and local players, all vying for a share of the expanding market through competitive pricing and innovation.

The impact of the COVID-19 pandemic on the artillery systems market was notable, with disruptions in supply chains and shifts in defense budgets affecting procurement timelines. However, the market has rebounded, with countries like the United States, China, and India leading the charge in military spending to enhance their artillery capabilities. The invasion of Ukraine and the subsequent increase in military spending in Europe have further fueled market growth, as nations prioritize defense investments in response to regional threats. The Asia-Pacific region is expected to witness robust growth, driven by rapid modernization efforts in countries such as China, India, and South Korea. The market's fragmented nature, with numerous players competing for contracts and partnerships, underscores the dynamic and competitive environment in which the artillery systems market operates.

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Artillery Systems Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2031)

    1. 2.1 Type

      1. 2.1.1 Howitzer

      2. 2.1.2 Mortar

      3. 2.1.3 Anti-air Artillery

      4. 2.1.4 Rocket Artillery

      5. 2.1.5 Other Types (Naval and Coastal Artillery)

    2. 2.2 Range

      1. 2.2.1 Short Range (5-30 kilometers)

      2. 2.2.2 Medium Range (31-60 kilometers)

      3. 2.2.3 Long Range (Above 60 kilometers)

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Australia

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Israel

        4. 2.3.5.4 South Africa

        5. 2.3.5.5 Rest of Middle East and Africa

Artillery Systems Market Size FAQs

The Artillery Systems Market size is expected to reach USD 8.84 billion in 2024 and grow at a CAGR of 7.24% to reach USD 12.54 billion by 2029.

In 2024, the Artillery Systems Market size is expected to reach USD 8.84 billion.

Artillery Systems Market Report Snapshots

Artillery Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)