Artillery Systems Market Poised to Reach $16.0 Billion by 2028: Market Trends, Dynamics & Growth Segments

/EIN News/ -- Delray Beach, FL, Feb. 09, 2025 (GLOBE NEWSWIRE) -- The report "Artillery Systems Market by Type (Howitzers, Rocket Launchers, Mortars, Anti-air weapons, Artillery), Range(Short-range, Medium-range, Long-range), Subsystem and Region (North America, Europe, Asia Pacific, ROW) - Global Forecast to 2028", The Artillery Systems Industry is estimated to be USD 11.8 billion in 2023 and is projected to reach USD 16.0 billion by 2028, at a CAGR of 6.2 % during the forecast period.

The artillery systems industry is experiencing a notable increase for several reasons. Firstly, technological advancements have significantly improved the capabilities of artillery systems. Modern artillery platforms now possess enhanced range, accuracy, and firepower, thanks to innovations in targeting systems, ammunition, and propulsion technologies. These advancements make artillery systems more effective and reliable, attracting increased demand from military forces seeking to upgrade their capabilities.

Browse 238 market data Tables and 59 Figures spread through 218 Pages and in-depth TOC on "Artillery Systems Market - Global Forecast to 2028"

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List of Industry Players in the Artillery Systems:

• Lockheed Martin Corporation (US),
• Bae Systems (UK),
• Hanwha Group (South Korea),
• Rheinmetall AG ( Germany),
• Nexter Group (France),
• Norinco Internation Cooperation Ltd. (China),
• Rostec (Russia)

Artillery Systems Market Segmentation:

Based on Range segment, the Medium-Range segment acquire largest market share during the forecast period.

Medium-range artillery systems currently have the largest market share in the artillery systems due to several reasons. Medium range provides a balance between long-range and short-range capabilities, making them versatile assets on the battlefield. Medium-range artillery can engage targets at distances that exceed the reach of short-range systems but are closer and more accessible than long-range systems. This flexibility allows military forces to effectively engage enemy targets within a specific operational area, providing essential fire support to ground forces. Additionally medium-range artillery systems provide more range than short-range artillery systems and are comparatively easier to manufacture than long-range artillery systems due to less technological investments.

Based on Subsystem, the auxiliary systems segment is projected to grow at the highest CAGR during the forecast period.

The auxiliary systems in subsystems segment are projected to lead the artillery systems industry Auxiliary systems play a crucial role in artillery systems, contributing to their overall effectiveness, efficiency, and operational readiness. These systems provide essential support functions that enhance the performance and reliability of the main artillery components. In addition, auxiliary systems contribute to the mobility and protection of artillery units. Mobile auxiliary systems, such as transport vehicles, self-propelled ammunition resupply vehicles, and armored personnel carriers, enable artillery units to quickly move, reposition, and redeploy their assets as needed.

Based on region, the Asia Pacific segment is projected to grow at the highest CAGR during the forecast period.

The artillery systems industry is anticipated to register highest growth rate in the Asia Pacific region in 2023. China, India, Japan, South Korea, Singapore and the rest of Asia Pacific are the regions that were looked at in this market. One of the primary international players operating in the Asia Pacific region is China, India, and Japan, which makes significant investments in the development and procurement of artillery systems technologies.

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Artillery Systems Market Trends & Dynamics

Opportunities: Unmanned Artillery Systems transform Battlefield due to Autonomous Firepower

Unmanned artillery systems also provide opportunities for increased battlefield adaptability. These systems can be rapidly deployed and repositioned as needed, allowing for dynamic response to changing operational requirements. Additionally, unmanned artillery systems can be integrated with other autonomous platforms, such as drones or ground robots, forming a networked and coordinated unmanned force for enhanced situational awareness and collaborative engagement. Furthermore, the use of unmanned systems can reduce the logistical footprint by requiring fewer personnel and support equipment, thereby streamlining operations and increasing operational efficiency.

Challenges: High Costs of Artillery Systems

The design and development of self-propelled artillery requires sufficient time, capital, and technical expertise. Self-propelled artillery, also known as mobile artillery or locomotive artillery, are equipped with their own propulsion system to move towards their target. They are used for long-range indirect bombardment support on the battlefield. The unique capabilities of self-propelled artillery, such as high lethality and improved manoeuvrability, have led to their increased costs. The high costs involved in the development of advanced technologies for self-propelled artillery act as a key challenge to the growth of the artillery systems market, especially for emerging nations. The average cost of a self-propelled artillery unit is 6.7 million; this cost increases depending on advanced specifications of these weapons.

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Drivers: Advancing Artillery Enhancing Capabilities for Modern Warfare

Modernization initiatives in the context of artillery systems refer to the efforts undertaken by defense forces to upgrade and enhance their existing artillery capabilities with the latest technologies, equipment, and operational concepts. These initiatives aim to improve the effectiveness, range, accuracy, mobility, and overall battlefield performance of artillery systems. Modernization involves replacing outdated or obsolete artillery systems with newer models that incorporate advanced features, such as digitalized fire control systems, improved targeting systems, enhanced communication capabilities, and more efficient ammunition.

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