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.
Significant insights drawn from the prolonged Ukraine conflict, as of September 2023 spanning 570 days, have left a lasting impact on the Indian Army's strategic vision for enhancing firepower. The lessons learned are steering the army's focus toward greater mobility, precision attacks, extended range, swift strikes, and enhanced survivability. This shift aligns with India's heightened efforts to procure a diverse range of weaponry, encompassing guns, rocket systems, and missiles. The evolving priorities in India's artillery modernization reflect the APAC artillery systems market trend as regional forces adopt strategies based on current geopolitical challenges and warfare dynamics.
In September 2023, the Indian Army set forth a proposal amounting to INR 6,000 crore for the procurement of next-generation guns, emphasizing their development and manufacturing by domestic companies. These cutting-edge weapons are envisioned to serve as a cornerstone in bolstering the artillery force of the Indian Army. The initiative aligns with broader APAC artillery systems market trends, emphasizing a shift toward indigenous development and modernization efforts among regional armed forces.
The APAC artillery systems market share is characterized by a confluence of geopolitical, technological, and strategic factors. The region's commitment to military modernization, combined with a focus on indigenous capabilities and collaborative defense initiatives, positions APAC as a pivotal player in the global artillery systems landscape.
The artillery systems market size based on type has been segmented into howitzer, mortars, and rocket artillery. The howitzer segment held the largest share in the artillery systems market in 2022. Howitzer artillery systems use different types of small, medium, and large caliber ammunition such as 105 mm, 152 mm, 155 mm, 160 mm, and 165 mm. Various countries have been procuring howitzer ammunitions in large volumes that also requires new howitzer systems for their respective operations. For instance, in March 2020, the US Army purchased BONUS through the NATO Support and Procurement Agency (NSPA), which provides effective and cost-efficient multinational solutions to the alliance. BONUS is a 155 mm ammunition designed to destroy armored targets and is used in the Army's M109 self-propelled howitzer and M777 ultralight towed howitzer.
A few major contracts for howitzers are mentioned below:
- In November 2023, Hanwha Aerospace won a contract from BAE Systems to provide them with 155 mm artillery bi-modular charge systems.
- In September 2023, Sweden's armed forces awarded a contract worth US$ 500 million to BAE Systems for the procurement of 48 ARCHER artillery howitzer systems.
- In December 2023, Poland armed forces awarded a contract worth US$ 2.6 billion to a South Korean company (Hanwha) for the procurement of 150 units of K9 Howitzers.
Key Findings of Market Study:
The artillery systems market has been segmented on the basis of component, range, caliber, type, and geography. Based on component, the artillery systems market share has been segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. Based on range, the artillery systems market share has been segmented into short range, medium range, and long range. Based on caliber, the artillery systems market has been segmented into small caliber, medium caliber, and large caliber. Based on type, the artillery systems market has been segmented into howitzer, mortars, and rocket artillery. On the basis of geography, the artillery systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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