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 Size

Market Size of Artillery Systems Industry

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
Market Concentration	Low
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. 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. 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