Global Artillery Systems Market to Surpass $15.7 Billion by 2035

In a recent report published by MarkWide Research, titled “Global Artillery Systems Market,” the global defense landscape is undergoing a transformative phase. The report forecasts substantial growth in the artillery systems market, with an anticipated Compound Annual Growth Rate (CAGR) of 4.9% over the forecast period, reaching a market valuation of over $15.7 billion by 2035.

Artillery systems are indispensable components of modern defense forces, providing firepower, mobility, and precision. Their evolution plays a pivotal role in shaping military strategies and ensuring national security.

Key Highlights from the Report:

1. Technological Advancements: Ongoing advancements in artillery systems, including smart munitions, automation, and digitization, are enhancing accuracy and effectiveness on the battlefield.
2. Long-Range Precision: The demand for long-range precision artillery systems is rising, allowing military forces to engage targets from greater distances with higher accuracy.
3. Urban Warfare: The increasing prevalence of urban warfare scenarios is driving the development of lightweight, maneuverable artillery systems capable of precise targeting in confined spaces.
4. Counter-Battery Fire: The need to counter hostile artillery fire has led to the development of advanced artillery locating and counter-battery systems.
5. Rapid Deployment: Modern artillery systems are designed for rapid deployment and integration into diverse military operations, including peacekeeping missions and crisis response.

Regional Insights:

• North America: North America, led by the United States, is a major contributor to the global artillery systems market, driven by its substantial defense budget and investments in cutting-edge technologies.
• Europe: Europe’s market is evolving with increased cooperation among NATO members and investments in artillery modernization programs.
• Asia-Pacific: The Asia-Pacific region is witnessing significant growth, attributed to the rising defense budgets of countries like China and India.

Market Players:

The report profiles key players in the global artillery systems market who are spearheading innovation and technological advancements in this sector. These companies are pivotal in enhancing the capabilities of artillery systems for defense forces worldwide. Notable players include:

1. BAE Systems plc
2. Lockheed Martin Corporation
3. Rheinmetall AG
4. Leonardo S.p.A.
5. NORINCO Group
6. Hanwha Defense Co., Ltd.
7. Elbit Systems Ltd.
8. Artillery Company Krusik A.D.
9. ST Engineering
10. Nexter Systems

Future Outlook:

The global artillery systems market is poised for substantial growth in the coming years, driven by the increasing need for advanced and versatile defense solutions. With a projected CAGR of 4.9% and a market value expected to exceed $15.7 billion by 2035, artillery systems will continue to play a pivotal role in safeguarding national security interests globally.