Artillery Systems Market is Projected to Achieve Significant Growth, Reaching US$ 16.0 Billion by 2028

/EIN News/ -- Chicago, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The artillery systems market 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% from 2023 to 2028.

One key driving factor for Artillery Systems Industry is their capability to provide long-range firepower and precision support on the battlefield. Artillery systems play a critical role in modern warfare by delivering large-caliber projectiles to distant targets with accuracy, enabling forces to engage enemy positions, disrupt enemy movements, and provide indirect fire support to friendly troops. The range and precision offered by artillery systems give them a unique advantage in combat situations. They can engage targets beyond the line of sight, meaning they can hit targets that are not directly visible to the operators. This allows artillery units to engage enemy forces from a safe distance, reducing the risk to friendly troops.

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Major Artillery Systems Companies Include:

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

Artillery Systems Market Segmentation Analysis:

Based on Howitzer, the Medium Caliber Segment Will Record the Highest Market Share of Artillery Systems During the Forecast Period

Artillery systems in medium caliber howitzer segment which includes caliber of 100 MM- 155 MM are experiencing significant growth due to several factors. Mediu caliber provides a balance between range and lethality. Its larger caliber allows it to achieve extended ranges compared to smaller artillery shells, enabling artillery units to engage targets at greater distances. This increased range enhances the reach and flexibility of artillery systems, enabling them to support operations over a wider area. Manoeuvrability makes it challenging for interceptors to track and engage these weapons effectively. This high explosive capacity makes it capable of engaging a wide range of targets, including fortified positions, armoured vehicles, and personnel concentrations. The shell's impact and blast effects can cause significant damage to the target area, disrupting enemy operations and providing a suppression effect.

Based on Mortars, the Small Caliber Segment Will Record the Highest Market Share of Artillery Systems During the Forecast Period

Artillery systems in small caliber mortar segment are witnessing rapid growth due various factors. Firstly, their portability and lightweight design are key advantages. Small caliber mortar systems are more easily transported and deployed, providing greater manoeuvrability for infantry units. They can be disassembled into smaller components and carried by soldiers, allowing for rapid emplacement and disengagement. This mobility enables infantry forces to quickly establish and relocate mortar positions, maintaining flexibility and adaptability during dynamic combat situations. Secondly, small caliber mortars excel at providing close-range indirect fire support. Their compact size allows them to be effectively employed in complex terrain, urban environments, or restrictive areas where larger artillery systems may be impractical. They can engage targets in close proximity to friendly forces, offering immediate and responsive fire support to troops in direct contact with the enemy.

Based on Artillery, the Coastal Artillery Segment Will Record the Highest Market Share of Artillery Systems During the Forecast Period

Coastal Artillery has secured the largest market share in Artillery segment of artillery systems primarily due to its high accuracy. Coastal artillery systems offer several significant benefits for coastal defense and maritime security. Firstly, these systems provide a formidable deterrent against hostile naval forces and potential amphibious assaults. The presence of coastal artillery acts as a visible and tangible defense, dissuading adversaries from attempting aggressive actions or incursions into coastal areas. Secondly, coastal artillery systems play a critical role in protecting strategic maritime assets and critical infrastructure. They can defend ports, harbors, naval bases, and other vital coastal installations from attacks by hostile ships, submarines, or amphibious forces.

By Region, Asia Pacific is Expected to Lead the Artillery Systems Market in 2024

Artillery systems in the Asia pacific region are experiencing significant growth due to several key factors. Firstly, The Asia-Pacific region is home to several major military powers which includes China, Japan, India, Australia among others. These countries have high military budgets and have been modernizing its military capabilities and has invested heavily in areas such as self-propelled howitzers and MLRS. Secondly, the rapid technological advancements and investments in artillery systems technology drive the market in this region, major Asian pacific countries have developed or invested in the development and procurement of artillery systems.

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Artillery Systems Market Opportunities and Challenges:

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. The development and deployment of unmanned artillery systems also spur innovation in areas such as artificial intelligence, robotics, and advanced sensors, contributing to technological advancements and fostering cross-sector collaboration. Overall, unmanned artillery systems open up opportunities for militaries to improve their effectiveness, flexibility, and cost-efficiency, while staying at the forefront of modern warfare capabilities.

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. Thus, manufacturers prefer prototyping of weapons and their components prior to their development based on the global demand, as failure of the developed model could incur huge losses.

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