Artillery Systems Market Size and Trend Analysis including Segments (Self Propelled Artillery Systems, Multiple Rocket Launch Systems, Towed Artillery Systems, Naval Guns, Mortar Systems and Weapon Systems Nearby), Key Programs, Competitive Landscape and Forecast, 2022-2032
New York, Oct. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Analysis of Artillery Systems Market Size and Trends, including segments, key programs, competitive landscape and forecasts, 2022-2032” – https://www.reportlinker.com/p06326070/?utm_source=GNW
Artillery Systems Market Size and Trend Analysis including Segments (Self Propelled Artillery Systems, Multiple Rocket Launch Systems, Towed Artillery Systems, Naval Guns, Mortar Systems and Weapon Systems relatives), key programs, competitive landscape and forecast, the 2022-2032 report provides the market size forecast and the estimated compound annual growth rate (CAGR) for the next ten years. The report covers industry analysis, including key market drivers, trends, emerging technologies, and key challenges faced by industry players.
It also offers insights into key factors and government programs that are expected to influence the demand for the Artillery Systems market during the forecast period.
Rising requirements for advanced long-range artillery systems and MRLS to improve the strike range and lethality of armed forces are expected to drive the purchase of artillery systems. In addition, the demand for artillery systems is also expected to be driven by ongoing territorial disputes in all regions, as well as military modernization initiatives undertaken by major armies to replace and modernize their old artillery systems.
Modernization initiatives by major military powers such as the United States, India, China, and Russia are expected to drive the artillery systems market over the coming years.
The self-propelled artillery systems segment is expected to be the largest segment accounting for 47.3% of the global artillery systems market during the forecast period. Several developing economies, such as India, China, Turkey, Poland, Russia, and Brazil, are spending large sums on modernizing the capabilities of their land forces by purchasing various self-propelled artillery systems that are expected to boost the growth of the segment over the forecast period. According to Chandan Kumar Nayak, Defense Analyst at GlobalData, “Warfare techniques have undergone significant changes over the past decade due to the rise of technologically enhanced threats, enabling military forces to use new artillery systems to neutralize adversaries. Guided artillery systems are one of them. for military personnel fighting in hostile environments, facilitating greater accuracy. This is expected to propel the growth of the artillery systems market over the next decade.
The Asia-Pacific region is expected to dominate the global artillery systems market from 2022 to 2032. Major countries in the region have increased their defense budgets and tried to maintain them even during the pandemic.
The need to upgrade and replace various artillery systems is expected to incur expenses. The need to integrate advanced artillery systems and territorial disputes between countries such as India, China and South Korea are expected to incur expenses.
Countries like India and China are developing several artillery and MRLS systems which are expected to be introduced over the next decade. Similarly, India has several high-value programs underway, with plans to procure one of the most advanced locally developed towed artillery systems, ‘ATAGS’, and replenish its arsenal with the state-of-the-art system of Multi-Barrel Rocket Launch (MBRL) ‘PINAKA 2’.
– The global artillery systems market is expected to grow at a CAGR of 2.7% during the forecast period.
– The global artillery systems market is categorized into six categories: self-propelled artillery systems, multiple rocket launch systems, towed artillery systems, naval guns, close-in weapons systems, and of mortar.
– Asia-Pacific is expected to dominate the global artillery systems market over the forecast period with a market share of 36.9%, followed by Europe and North America.
– Self-propelled artillery systems are expected to be the largest segment among other categories of artillery systems during the forecast period.
who should buy
– Defense startups, original equipment manufacturers (OEMs), defense planners, artillery systems integrators, venture capitalists, government agencies, marketing executives, sales executives, CEOs and senior executives.
– Relevant stakeholders can use the report to identify high-growth segments and customize their offerings based on project requirements.
– Venture capitalists can use project details, growth rate, and market size to identify and fund high-potential startups.
In particular, the report provides an in-depth analysis of the following –
– Market Size and Drivers: Detailed analysis over the period 2022-2032, including highlights of demand drivers and growth stimulators. It also provides an overview of the spending and modernization patterns of different regions of the world.
– Recent developments and challenges in the industry: overview of technological developments and detailed analysis of existing artillery systems projects being executed and planned around the world. It also provides trends of changing industry structure and challenges faced by industry participants.
– Regional Highlights: Study of key markets in each region, providing analysis of key market segments expected to be in demand.
– Major programs: details of the key programs of each segment, which are expected to be executed during the period 2022-2032.
– Competitive Landscape and Strategic Insights: Analysis of the competitive landscape of the global artillery systems market. It provides an overview of key players, their strategic initiatives and financial analysis.
Reasons to buy
– Determine potential investment areas based on a detailed analysis of global artillery systems trends over the next ten years
– Gain an in-depth understanding of the underlying factors driving demand for different segments of artillery systems in major spending countries across the world and identify the opportunities offered by each of them
– Analyze the market in terms of demand drivers, industry trends and latest technological developments, among others
– To identify major countries driving the Global Artillery Systems Market, providing a clear picture of the future opportunities that can be exploited, resulting in increased revenue
– Channeling resources focusing on ongoing programs undertaken by Ministries of Defense of different countries in the global artillery systems market
– Make the right business decisions based on an in-depth analysis of the competitive landscape composed of detailed profiles of major Artillery Systems manufacturers around the world. Company profiles also include information on key products, alliances, recently awarded contracts, and financial analysis, where applicable.
Read the full report: https://www.reportlinker.com/p06326070/?utm_source=GNW
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