The global artillery systems market is expected to exhibit a strong 6.8% CAGR over the forecast period, according to the latest research report from Market Research Future (MRFR). The global artillery systems market is mainly driven by the growing demand for advanced military equipment in developed countries around the world as well as the growing demand for replenishing the weapons systems in emerging countries.
The rising rate of geopolitical tension in regions such as North Africa, the Middle East, and the Korean peninsula has resulted in an increasing demand from the artillery systems market. Artillery weapons play a key role in war, allowing an aggressor to erase large sections of the enemy’s defense in one go, clearing a path for armed infantry and smaller military vehicles. This has made artillery systems important for military and defense organizations around the world, leading to a growing demand from the global artillery systems market. The growing demand for artillery systems in battle is likely to be the key driver for the global artillery systems market over the forecast period. The increasing prevalence of terrorism in a number of regions around the world is also likely to drive the demand for artillery systems due to the increasing scale of engagement in anti-terrorism operations.
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The growing demand for product development in artillery systems in terms of targeting and the growing demand for the integration of automation are likely to be major drivers for the global artillery systems market over the forecast period. The increasing incorporation of automated, computer-driven targeting systems has been a major feature of the global artillery systems market over recent years and is likely to drive the development of the market over the forecast period as well. The increasing research into the development of machine vision technology is likely to be a major driver for the global artillery systems market over the forecast period.
Leading players in the global artillery systems market include Lockheed Martin, Kmw+Nexter Defense Systems, IMI Systems, Hanwha Group, General Dynamics, Elbit Systems, Denel SOC Ltd., China North Industries Corporation, BAE Systems, and Avibras.
In May 2019, India started trialling a new indigenously developed towed artillery system, while in June 2019, Russia announced that its Lotos self-propelled artillery system is nearing the testing phase. Such developments are likely to be common in the emerging world in the coming years, as countries like Russia and India, among other emerging countries in Asia, are likely to retain a keen interest in developing a strong military base in the coming years, leading to a growing demand from the artillery systems market.
The global artillery systems market is segmented on the basis of type, component, range, and region.
By type, the global artillery systems market is segmented into mortars, howitzers, rocket artillery, and others. Mortars are likely to remain the dominant force in the global artillery systems market over the forecast period due to the high mobility achieved by the use of mortars, which are usually smaller and lightweight than other types of artillery systems. Howitzers are also likely to expand at a robust growth rate over the forecast period.
By range, the global artillery systems market is segmented into short, medium, and long range artillery systems. Medium-range artillery systems hold the largest share in the global artillery systems market and are likely to retain the leading share over the forecast period. However, the long-range artillery segment is expected to exhibit the strongest growth over the forecast period.
By component, the artillery systems market is segmented into gun turrets, ammunition handling systems, fire control systems, auxiliary systems, and others. Fire control and ammunition handling systems are likely to remain the dominant segments over the forecast period, with the latter expected to exhibit the fastest growth over the forecast period.
North America is likely to dominate the global artillery systems market over the forecast period due to the growing defense expenditure in the U.S. Europe is projected to hold the second largest share over the forecast period, while Asia Pacific is expected to exhibit the fastest growth, on the back of the growing demand for artillery systems in countries such as India, China, and North and South Korea.
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