Dublin, Nov. 16, 2021 (GLOBE NEWSWIRE) — The “Global Artillery Systems Market to 2031” report has been added to from ResearchAndMarkets.com offer.
The global Artillery Systems Market is valued at $4.6 Billion in 2021 and will grow at a CAGR of 3.74% to reach a value of $6.7 Billion by 2031. global artillery is expected to reach $56.9 billion during the forecast period.
The growth of the market is expected to be driven by increasing requirements for the latest military equipment across countries in the near future. Additionally, the need to automate these systems in order to be effective in a network-centric environment is expected to drive investment in this market.
In addition, demand for artillery systems is expected to be driven by ongoing territorial disputes across all regions, as well as military modernization initiatives undertaken by major armies to replace and upgrade their older artillery systems. Additionally, war-affected countries such as Central African Republic, Egypt, Nigeria, Afghanistan, Syria, and Yemen are expected to invest in the artillery systems market over the coming years.
The need to upgrade and replace various artillery systems is expected to drive spending in the European region. In addition, companies such as PGZ Group, Lockheed Martin, Rostec, Yugoimport SDPR, Aselsan and Hirtenberger Defense Europe (HDE), among others, are expanding their artillery systems product portfolios with a range of products.
The ongoing territorial disputes in various regions, such as Asia-Pacific, Europe, the Middle East and Africa, should push the respective governments of these regions to provide their armies with the necessary and strategically vital weapons, such as artillery systems to carry out retaliatory strikes. against their opponents.
- The global artillery systems market is expected to grow at a CAGR of 3.74% during the forecast period.
- The global artillery systems market is classified into six categories; self-propelled artillery systems, multiple rocket launch systems, naval guns, towed artillery systems, close-in weapons systems, and mortar systems.
- The global artillery systems market is expected to be dominated by Europe with a revenue share of 53.7%. The large share of the region is mainly due to the high demand of the armed forces of European countries for artillery systems. Europe is working on joint projects to develop a new howitzer model for uniform deployment across all regiments to reduce costs and improve speed and mobility.
- Self-propelled artillery systems are expected to be the largest segment of the artillery systems market during the forecast period.
who should buy
- Defense startups, original equipment manufacturers (OEMs), defense planners, 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.
- Market Size and Drivers: Detailed analysis over the period 2021-2031, including highlights of demand and growth drivers. 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 worldwide. 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 2021-2031.
- 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.
- Lockheed Martin
- Aselsan AS
- General dynamics
- Hanwha Defense
- Elbit systems
- Northrop Grumman
- BAE Systems Plc
- Council of Artillery Factories
- S&T Dynamics
For more information on this report, visit https://www.researchandmarkets.com/r/qloyuf