How big is the Artillery Systems Market?

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. Read More

What is the current Artillery Systems Market size?

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

Who are the key players in Artillery Systems Market?

Lockheed Martin Corporation, Hanwha Group, Nexter Group, Leonardo S.p.A and BAE Systems plc are the major companies operating in the Artillery Systems Market. Read More

Which is the fastest growing region in Artillery Systems Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Artillery Systems Market?

In 2024, the North America accounts for the largest market share in Artillery Systems Market. Read More

What years does this Artillery Systems Market cover, and what was the market size in 2023?

In 2023, the Artillery Systems Market size was estimated at USD 8.24 billion. The report covers the Artillery Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Artillery Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Artillery Systems Market Share

Statistics for the 2023 & 2024 Artillery Systems market share, created by Mordor Intelligence™ Industry Reports. Artillery Systems share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Artillery Systems Industry

The artillery systems market is fragmented, with many global and local players contributing significantly to the growth of the market through competitive pricing and innovation. Some of the major companies in the artillery systems market include BAE Systems plc, Lockheed Martin Corporation, Hanwha Group, Leonardo S.p.A, Elbit Systems Ltd., and Nexter Group. The companies are mainly focusing on enhancing the capabilities of their artillery systems portfolio to increase their market share.

Foreign players are competing with local players to gain multi-billion long-term contracts. Some players have also partnered with local companies to expand their customer base and share technical expertise. Tensions across Eastern Europe, the Middle East, and Asia-Pacific are generating the demand for new artillery systems. The demand is also higher in the US, which is trying to fill in the gaps to strengthen its land forces by replacing the aging systems with new artillery systems. Also, a growing focus on strengthening naval capabilities over the past decade has resulted in significant new orders for frigates, corvettes, aircraft carriers, destroyers, and offshore vessels, thereby generating the need for new artillery guns.

For instance, in May 2023, Elbit Systems announced that as part of an agreement between the Israeli Ministry of Defense and the Netherlands Ministry of Defense, it was awarded a contract worth USD 305 million to supply Precise & Universal Launching System (PULS) artillery rocket systems to the Royal Netherlands Army.

Likewise, In November 2022, JPEO A&A and ACC-Rock Island awarded a new task order to General Dynamics Ordnance and Tactical Systems to build a new 155 mm artillery metal parts production line in Texas that will utilize free-flow forming technology, which delivers flexible, cost-effective, and precise metal forming with higher machine speeds and more accurate, uniform products.