The artillery systems market was valued at US$ 11,378.36 million in 2022 and is projected to reach US$ 19,287.32 million by 2030; it is expected to register a CAGR of 6.80% during 2022-2030.

Increasing Number of Contracts for Supply of Artillery Systems is Boosting the Artillery Systems Market Size

Manufacturers operating in the artillery systems market strongly focus on collaborating with different governments and armed forces to comprehend their respective demands and offer them suitable solutions. The military forces of various countries are providing numerous contracts to artillery systems manufacturers to procure several communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in procuring artillery systems such as rocket artillery, mortars, and howitzers. Artillery systems are reliable for taking down short, medium, and long-range targets. They enable armed forces to facilitate enhanced remote firing on ground or naval platforms.

The majority of the countries' armed forces have been investing heavily in the procurement of artillery systems, which is driving the artillery systems market size. A few examples are mentioned below:

- In December 2023, Poland's State Armament Agency announced that it had purchased K9 Howitzers from South Korea as a part of the US$ 2.6 billion deal with Hanwha Defense.

- In November 2023, BAE Systems won a contract worth US$ 63 million from the US DoD to produce self-propelled Paladin howitzers and ammunition carrier vehicles.

- In September 2023, the Indian Army passed a proposal to purchase 400 units of howitzers worth US$ 48 million from Indian firms.

- In November 2023, Hanwha Aerospace awarded a contract to supply 155 mm artillery bi-modular charge systems to BAE Systems Plc.

- In December 2022, the Indian Defence Ministry issued a Request for Proposal to L&T for producing 100 units of K9 Howitzers through Hanwha Defense Technology.

- In April 2023, Elbit Systems Ltd won a contract worth US$ 102 million to Supply ATMOS Artillery Systems to an undisclosed international customer.

Such contracts have been pushing the artillery systems market growth across different regions.

The major stakeholders in the global artillery systems market ecosystem include component suppliers, artillery system manufacturers, and end-users. The raw material component providers are the crucial stakeholders in the ecosystem of the artillery systems market. The major components used in artillery systems includes gun barrels, auxiliary systems, fire systems, ammunition handling systems and other components. The timely supply of all these components is crucial for efficient operation across artillery system manufacturing plants. Thus, any operational impact on these component providers directly impacts the artillery systems market growth. For instance, in 2020 the raw material suppliers faced challenges such as scarcity of raw material, chemicals, metals, etc.

The artillery systems market players include Elbit Systems, BAE Systems, Elbit Systems, Lockheed Martin, General Dynamics, and many more. The artillery systems market has many small players engaged in the business which holds a significant portion of the global market. The small players are also involved in R&D activities for developing the new technologies which are further strengthening the market size over the coming years. These organizations over the years have increased their investment in the development of new and advanced artilleries as per the growing customer needs with the help of government regulatory bodies. The government regulatory body helps the manufacturer by providing the contract to military forces, homeland security, and border security forces.

The major end-users of the artillery systems market include military forces, homeland security, and border security forces. The end users are the key stakeholders of the artillery systems market as it creates the demand for the product further, leveraging the artillery systems market growth over the forecast period.

Avibras Ind?stria 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 Mandus Group 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.