The Global Artillery and Systems Market 2017-2027
The Global Artillery and Systems market, valued at over US$ Billion in 2017, is projected to grow at a CAGR of over 3.6%, to cross a value of US$10 Billion by 2027. The cumulative market for global expenditure in the sector is valued at over US$95 Billion over the forecast period. The demand for artillery and systems is primarily driven by the anticipated procurement of major defense spending countries that are currently involved in conflicts, and emerging economies involved in territorial disputes and countering insurgencies. In addition, the need to maintain a sufficient inventory of second line of fire artillery systems for militaries across the world and the increasing demand for training systems is also anticipated to have a positive impact on demand.
Artillery and systems market is split into five segments: Turret Systems, Self-Propelled Artillery Systems, Towed Artillery Systems, Mortars and Other Artillery Systems. During the forecast period, the Turret Systems is expected to account for the largest share of spending, accounting for nearly 35% of the overall global market. The demand for turrets is driven by the major armored vehicle procurement programs undertaken by major defense spenders across the globe. Turret Systems will be followed by the Self Propelled Artillery Systems segment, which is expected to account for over 30%, and the Towed Artillery segment is estimated to have a more than fifth of the share.
Global Artillery and Systems market is expected to be led by the Asia Pacific region with a share of just over 42% over the forecast period. The majority of spending in the region is expected to come from countries involved in territorial conflicts and currently countering insurgencies, such as India, China, Australia, and South Korea.
In terms of spending, Asia Pacific will be followed by Europe with nearly 24% and North America with over 19.7. Europe’s robust spending in this market will be primarily driven by its expenditure on turret systems, while North America is spending more emphasized on upgrading and modernizing its existing fleets of armored vehicles. A majority of the European countries such as the UK, France, Russia and Germany are spending robustly on developing and acquiring new vehicles, boosting the demand for Turret Systems in the region.
The report ""The Global Artillery and Systems Market 2017-2027"" offers detailed analysis of the Global Artillery and Systems Market over the next 10 years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for artillery and systems.
In particular, this report provides the following -
- Overview: Snapshot of the artillery and systems market during 2017–2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the artillery and systems market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the artillery and systems market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the artillery and systems market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis – Key Defense Market: Analysis of the key markets in each region, providing an analysis of the artillery and systems segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of the competitive landscape of the global artillery and systems industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: Elbit Systems, Lockheed Martin Corporation, BAE Systems, Nexter Systems, China North Industries Corporation (NORINCO), Avibras, Hanwha Techwin
The Global Artillery and Systems market, valued at US$7.3 billion in 2017, is projected to grow at a CAGR of 3.64% over the forecast period, to reach US$10.4 billion by 2027 and cumulatively value US$95.8 billion. The market consists of five categories -
- Turret Systems, Self-Propelled Artillery Systems, Towed Artillery Systems, Other Artillery Systems and Mortars.
- The market is expected to be dominated by Turret Systems, which will account for 34.9% of the market, followed by the Self-Propelled Artillery Systems and Towed Artillery Systems segments with shares of 32.0% and 21.5% respectively.
- Other Artillery Systems will and Mortars will account for 7.7% and 3.9% of the market respectively.
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global artillery and systems market over the next ten years
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- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global artillery and systems market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the global artillery and systems market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top artillery and systems providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available