Artillery Systems Market
The market for artillery systems is expected to grow at a CAGR of XX% during the forecast period, due to the increasing demand from military sector and the ongoing military modernization programs. Growing acts of terrorism around the globe especially in Asia Pacific, Africa and Latin America has caused a surge in spending by militaries to tackle violence and terrorist activities in recent times. The threat of terrorism has spread rapidly to Europe and North America too.
Recent activities of a similar kind have shaken up the European and Middle-East continent, which has prompted the countries to additionally spend on artillery systems to better defend themselves against threats. Increasing necessity for several countries to acquire arms and artillery ammunition in order to secure their national interests on the international stage is expected to drive the market during forecast period.
Developing countries like China, India, Brazil, and some countries in Middle-East are spending significantly on modernizing their ground capabilities by purchasing modern weapons that includes howitzers and mortars amongst others. For instance, in May 2017, the Indian Army received two new artillery guns systems. The M-777 ultra-light howitzers were part of 145-gun order deal with the US for 700 million dollars. In the same month, Larsen & Toubro received defence order to supply key system for the Indian Army. Larsen & Toubro has partnered with the South Korean company Hanwha Tech Win and will assemble 100 units of 155mm, 52 calibre K9 Vajra-T self-propelled howitzers. India is also developing its own Indian-made gun called the Dhanush to replace Bofors gun.
Philippines has partnered with Israel on several defense projects to strengthen their armed forces. In June 2017, the Philippine Department of National Defense announced that they received few of the towed howitzers on order from Israeli company Elbit Systems. Such developments and the need to upgrade military weapon systems will drive the market during the forecast period.
Recent Developments in Artillery Systems Market:
February 2017: Indonesia places orders for additional 18 CAESAR wheeled self-propelled howitzer systems from Nexter Group. The new order follows a 2012 order for 36 CAESAR artillery systems by the Indonesian National Armed Forces.
December 2017: The Norwegian Defence Material Agency signed a contract with Hanwha Land Systems to procure 24 K9 155mm, 52-caliber self-propelled howitzers.
Key Players: BAE Systems, Denel Land Systems, Lockheed Martin Corporation, Elbit Systems, and NORINCO amongst others.
Reasons to Purchase this Artillery Systems Market Report:
- To study current and future market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Detailed analysis on the segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identifying the latest developments, market shares and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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1.1 Scope of Study
1.2 Market Definition
1.3 Executive Summary
2. Artillery Systems Market Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. Artillery Systems Market Insights
3.1 Current Market Scenario
3.2 Technology Trends
3.3 Industry Attractiveness - Porter's Five Force Analysis
3.3.1 Porter's Five Forces Framework
3.3.2 Bargaining Power of Suppliers
3.3.3 Bargaining Power of Consumers
3.3.4 Threat of New Entrants
3.3.5 Threat of Substitute Products and Services
3.3.6 Competitive Rivalry Within the Industry
4. Artillery Systems Market Dynamics
5. Artillery Systems Market, by Type
5.5 Naval Artillery
5.6 Coastal Artillery
6. Artillery Systems Market, by Range
7. Artillery Systems Market, by Geography
7.1 North America
7.1.4 Rest of North America
7.2 South America
7.2.3 Rest of South America
7.3.5 Rest of Europe
7.4.3 North Korea
7.4.4 South Korea
7.4.5 Rest of Asia-Pacific
7.5 Middle-East & Africa
7.5.2 Saudi Arabia
7.5.5 South Africa
7.5.5 Rest of Middle-East & Africa
8. Artillery Systems Market Competitive Landscape
8.2 Market Share Analysis
9. Company Profiles
9.1 BAE Systems
9.2 Lockheed Martin Corporation
9.3 Elbit Systems
9.4 General Dynamics Corporation
9.6 Hanwha Group
9.8 IMI Systems Ltd.
9.9 Nexter Group
9.10 Denel Land Systems
9.11 RUAG Group
9.12 Krauss-Maffei Wegmann
10. Future Artillery Systems Market Outlook