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Artillery Systems Market is expected to reach US$ 19,287.32 million by 2030

Artillery systems market is projected to reach USD 19,287.32 million by 2030 from USD 11,378.36 million in 2022 | Insights on Covid-19

By The Insight Partners

Deployment of Self-Propelled Artillery Systems is Driving the Artillery Systems Market Growth

According to our latest market study on "Artillery Systems Market Forecast to 2030 – Global Analysis – by Component, Range, Caliber, and Type," the market was valued at US$ 11,378.36 million in 2022 and is expected to reach US$ 19,287.32 million by 2030; it is anticipated to register a CAGR of 6.8% from 2022 to 2030.

The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled artillery systems. The increasing adoption of self-propelled artillery systems reduces the logistics and transportation challenges of moving any artillery system. Self-propelled artillery systems allow for the reduction of the operational manpower required to operate any artillery systems such as howitzer or rocket artilleries.

Artillery Systems Market Share – by Region, 2022

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Source: The Insight Partners Analysis

Many companies have already developed self-propelled artillery systems to provide their customers with reliable and desired mission solutions to remain competitive in the highly competitive marketplace. For instance, in 2021, Czech company EXCALIBUR ARMY announced the launch of its DITA 155 mm wheeled self-propelled howitzer system at IDEX 2021. Similarly, many other companies have been collaboratively working for the development and advancements in self-propelled artillery systems that are expected to cater to the emerging needs of customers in the coming years as well. Moreover, the majority of the companies are pushing their investments in terms of procurement of self-propelled howitzer systems. For instance, in November 2023, BAE Systems Plc won a contract worth US$ 63 million to produce self-propelled Paladin howitzers and ammunition carrier vehicles from the US military. Hence, the increase in the deployment of self-propelled artillery systems is anticipated to be a trend in the artillery systems market growth.

Based on range, the artillery systems market size has been segmented into short range, medium range, and long range. The medium range segment held the largest share of the global artillery systems market size in 2022.

Medium range artillery systems are fire systems that operate within a 25–50 km range. A few examples of medium range artillery systems are 155 mm howitzers, ATMOS artillery systems, and M982 Excalibur artillery systems. The rising need to include medium range fire systems into any country’s artillery fleet that also allows them to operate within short- and medium-extended ranges is one of the major factors driving the market for the medium range segment.

Heightened geopolitical tensions in the region, particularly in the South China Sea and the Korean Peninsula, have led to an increased focus on strengthening military capabilities. This includes the acquisition of sophisticated artillery systems for strategic deterrence. In December 2023, Rob Phillips, spokesperson for the US Army Pacific, announced the US military's intention to deploy land-based intermediate-range missiles in APAC in the coming year. This strategic move represents the first potential deployment of such weapons in the region since the US withdrew from the Intermediate-Range Nuclear Forces (INF) Treaty in 2019. This development underscores the evolving dynamics of the APAC artillery systems market, as geopolitical factors influence military strategies and deployments in the region. The deployment of intermediate-range missiles could contribute to shaping the landscape of artillery systems market share of APAC.

Avibras Indústria Aeroespacial S/A, BAE Systems Plc, Nexter Groupe KNDS, Denel Land Systems, Elbit Systems Ltd, General Dynamics, ST Engineering, Lockheed Martin Corporation, Rheinmetall AG, and Leonardo DRS Inc are among the key artillery systems market players profiled during this study. In addition, several other important artillery systems market players have been studied and analyzed during the study to get a holistic view of the artillery systems market and its ecosystem.

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