Global Artillery Systems Market: Industry Analysis and Forecast (2021-2027)
Global Artillery Systems Market size was valued at US$ 11.09 Bn. in 2019 and the total revenue is expected to grow at 6.8 % through 2020 to 2027, reaching nearly US$ 18.70 Bn.
Global Artillery Systems Market Overview:
The geographical factor creates limitations over the reach of humans and vehicles on the battlefield. This has created a demand for a weapon system that holds the capability to propel munitions at a long distance, at a fast pace, and with minimum to zero damage to the operating person. Artillery System consists of technologically improved, lighter, and mobile artillery canons that hold the ability to destroy long-range targets.
Artillery Systems have better firepower and rapid response time as compared to conventional artillery weapons like mountable cannons and tanks. An increase in demand for mobile and multiple long-range firing platforms by the defense forces and increased geopolitical issues around the world have resulted in a growth in the Global Artillery Systems Market.
Global Artillery Systems Market Dynamics:
Artillery Systems hold the capability to fire multiple shots with the first shot hitting the target and other shots fired with little less trajectory to increase the destruction by covering more area. With the advancement in technology, it is now possible to hit multiple and successive targets with precision increasing the fatality and destruction of the targeted area. The rising preference for a single barrel weapon system with the ability to fire successive shots has propelled the demand for Artillery System.
Artillery Systems are cost-efficient as compared to other weapon systems and are easy to relocate at any geographical condition. The presence of easy use mechanism and low maintenance cost required along with easy availability of spares and ancillaries has resulted in a rise in demand for Artillery Systems by the defense forces of developing and underdeveloped nations.
Artillery Systems have proven to be an effective weapon system for indirect fire. The concept of indirect fire deals with firing warning shots over the territory and army of the enemy with the intention to cause little to no damage. With an increase in the geopolitical issues between neighbouring countries like Israel-Palestine, India-Pakistan, India-China, and North Korea-South Korea, growth in demand for Artillery Systems has been observed.
Countries like India, China, and Israel have started investing heavily in building defense manufacturing facilities to reduce the dependence on western countries and control the rapidly rising expenditure on buying advanced defense equipment. This has resulted in a rise in demand for spare components that are patented or are complex and costly to manufacture. An increase in the preference for locally made Artillery Systems by the developing countries has resulted in the increasing demand for Artillery Systems components.
The increased conflicts with the neighbouring countries have resulted in a rise in demand for advanced weapon machinery by the ground defense services of India. To fulfil this rising need, Israel-based Elbit Systems quoted far less than its French counterpart and won the government tender to supply 1580 Artillery Systems on December 10, 2020, to the Indian Army. This deal also put a request to the Indian defense minister to consider the offer by Elbit Systems for building 70% of the Artillery guns and 20% of the Artillery System required by the Indian defense sector in the coming years.
An increase in demand for mobile and long-range weapon system by the global defense sector act as the driving factor for the growth of the Global Artillery Systems Market.
Restraints:
The dual-use nature of the Artillery Systems is the major restraining factor here.
The rising preference for handheld weapon systems is limiting the growth of the Global Artillery Systems market.
Global Artillery Systems Market Segment Analysis:
The Global Artillery Systems Market is segmented
By Type, The rising preference for a towed weapon system that can be used in geographically complex situations by the defense forces around the world has forecasted Howitzer to dominate the Type segment of the Global Artillery Systems in the coming years. The presence of features like easy to handle, easy to use, and low cost has resulted in a 3.8% increase in demand for Mortar in the second decade of this century by the global defense forces.
An increase in the expenditure of defense budget for installing counter-attacks and defense mechanisms has resulted in a 2.7% increase in demand for Anti-Air weapons systems from 2017 through 2020 by the defense forces of developing countries like India and Pakistan.
Global Artillery Systems Market
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By Caliber, An easy to carry and convenient in using it on the battlefield has forecasted the Medium Caliber to dominate the Caliber segment of the Global Artillery Systems Market in the coming years. The rising preference for installing long-range weapon systems on wheeled vehicles to increase the kill zone has resulted in a 3.1% increase in demand for Heavy Caliber Artillery Systems from 2015 through 2020 by the defense forces of developing countries.
By Range, An increase in demand for machinery that provides launching assembly for moderately destructive munitions has forecasted Medium Range to dominate the Range segment of the Global Artillery Systems Market in the coming years. The rising preference for weapon assembly that can locate and successfully execute long-distance targets has resulted in a 3.6% increase in demand for Long Range Artillery Systems in the second decade of this century by the defense forces of countries like the US, China, Israel, and India.
By Component, The rising preference for weapon assembly that holds a high firing rate and low recoil velocity has forecasted Fire Control System to dominate the Component segment of the Global Artillery Systems Market in the coming years. An increase in demand for weapon systems designs for developing low-cost replicas of weapon assembly has resulted in a 2.1% increase in demand for Auxiliary Systems from 2016 through 2020 by the ordnance factories present in countries like China and India.
An increase in demand for modernization of existing weapons assembly by repair and replacement work has resulted in a 1.8% increase in demand for Engine, Chassis, and Gun Turret in the second decade of this century by developing countries.
By End User, The rising demand for weapon assembly with low recoil velocity by the defense forces around the world has forecasted the OEMs to dominate the End User segment of the Global Artillery Systems Market in the coming years. The rising preference for low-cost used weapons assembly to increase their military strength has resulted in a 4.3% increase in the sales of Artillery System to underdeveloped and developing countries from 2015 through 2020 through the medium of Aftersales.
The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is
Considered a base year however 2020’s numbers are on the real output of the companies in the market.
Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the
Impact of lockdown for next two years on the market. Some companies have done well in lockdown
Also, and specific strategic analysis of those companies is done in the report.
Global Artillery Systems Market Regional Insights
Global Artillery Systems MarketThe presence of military bases of countries present in this region around the world and its role as a weapons supplier to most of the developing and underdeveloped countries has resulted in a 4.3% increase in the consumption for Artillery Systems in North America in the second decade of this century.
The presence of the world’s biggest weapons manufacturing firms and rising conflicts between countries present in the eastern region has resulted in a 3.8% increase in demand for Artillery Systems from 2017 through 2020 by the countries present in Europe.
An increase in the geopolitical issues and rising demand for the possession of advanced weapon machinery by the defense forces of countries present in this region has resulted in a 3.3% increase in demand for Artillery Systems in the second decade of this century by the countries present in the Asia-Pacific.
The ever-rising geopolitical conflicts and rising demand for low range moderately destructive weapons to keep the war alive by extremists factions has resulted in a 2.8% increase in demand for Artillery Systems through the medium of a manufacturer to a buyer from 2016 through 2020 by the countries present in the Middle East and Africa. The South American market is showing a growth rate of 2.1%, the reason for which is the rising civil conflicts and increased demand for advanced weapons systems by the separatists and radical factions.
The objective of the report is to present a comprehensive analysis of the global Artillery Systems market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Artillery Systems market dynamics, structure by analyzing the market segments and Project the global Artillery Systems market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Artillery Systems market make the report investor’s guide.
Global Artillery Systems Market Scope: Inquire before buying
Global Artillery Systems Market
Global Artillery Systems Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Artillery Systems Market Key Players
• Elbit Systems Ltd.
• Raytheon Technologies Corporation
• Aubert & Duval
• BAE Systems
• Lockheed Martin Corporation
• General Dynamics
• RUAG Group
• Leonardo S.p.A.
• Nexter Group
• ST Engineering
• KMW+Nexter Defense Systems
• Hanwha Group
• Denel SOC Ltd.
• IMI Systems
• Avibras
• China Ordnance Industries Group Corporation
FAQs:
1) What is the market share of the Global Artillery Systems Market in 2019?
Answer: The Global Artillery Systems Market was valued at US $ 11.09 Billion in the year 2019.
2) Which is the dominating region for the Global Artillery Systems Market?
Answer: The increased budget by the governments for modernizing weapons used by the defense sector has resulted in making North America the biggest market for Artillery Systems.
3) What are the opportunities for technological development in the Global Artillery Systems Market?
Answer: The self-propelled artillery mechanism holds an ample amount of opportunities for technological development in the Global Artillery Systems Market.
4) Which factor acts as the driving factor for the growth of the Global Artillery Systems Market?
Answer: An increase in the conflicts between governments and rising demand for long-range weapons act as the major driving factor for the growth of the Global Artillery Systems Market.
5) What factors are restraining the growth of the Global Artillery Systems Market?
Answer: major cuts in defense budgets of the developing countries due to global pandemic acts as the major restraining factor for the growth of the Global Artillery Systems Market.
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