Global Artillery System Market: Rising Demand and Technological Advancements Drive Growth
The global artillery system market is witnessing significant growth, driven by the escalating concerns over violent conflicts, terrorism, and global violence. A notable contributor to this expansion is the increasing acceptance of single barrel weapon systems. Several factors, including the rise in military spending, demand for long-range fire support, and the embrace of military modernization projects, are propelling the market forward.
New Innovations and Developments Boost Market Prospects
In recent developments, British aerospace and defense corporation BAE Systems unveiled the self-propelled artillery cannon ARCHER mobile howitzer—a short-barrel artillery system. This versatile shoot-and-scoot weapon system can adapt to various battlefields and terrains, deploying or displacing in less than 30 seconds. Investments in modular modifications of existing weapon systems are expected to further drive market growth. These systems are compact, cost-effective, and capable of rapid multiple rounds firing. Additionally, advancements such as portable, lightweight, and self-propelled artillery systems are contributing to the expansion of the artillery system market.
COVID-19 Impact and Defense Expenditure
The COVID-19 pandemic has disrupted artillery production as restrictions halted operations and limited international workforce movement. Trade restrictions further impacted artillery cannon shell production and delivery. Nevertheless, the artillery system market is poised for recovery as governments ease restrictions and prioritize defense spending. The evolving geopolitical landscape, driven by factors like territorial disputes, has prompted increased investment in the defense sector, further boosting revenue for artillery system manufacturers.
Technological Advancements Drive Market Growth
Recent technological advancements in artillery systems have significantly improved precision, increasing the likelihood of accurately hitting targets on the first round. Guidance system innovations have enhanced targeting capabilities, providing a tactical advantage. Players in the industry are developing precision guidance kits (PGK) to upgrade conventional ammunition into precision munitions. Modernization efforts are also leading to the deployment of more advanced artillery systems with increased projectile firing ranges.
Development Delays and Howitzers Dominate the Market
The development and procurement of artillery systems can be protracted and challenging, with delays caused by unforeseen disruptions. However, howitzers, with their ability to accurately hit targets and employ shoot-and-scoot tactics, dominate the artillery system market. Short-range artillery systems, essential for close-range, precision targeting, are experiencing strong growth, particularly in the Asia Pacific region, amid geopolitical tensions.
North America Leads, Asia Pacific Grows
North America, driven by substantial military spending and advanced defense equipment, holds the largest share of the artillery system market. Asia Pacific is anticipated to experience steady growth due to military modernization efforts and rising hostilities, leading to significant investments in artillery systems.
Key players in the artillery system market include BAE Systems, General Dynamics, Denel SOC Ltd, Hanwha Group, Elbit Systems, ST Engineering, Lockheed Martin, IMI Systems, Avibras, and RUAG Group. Recent contracts and agreements between nations further underline the market’s potential for growth.
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