Artillery Systems Market By Type (Rocket Launchers, Mortars, Howitzers, Anti-Air Weapons, Artillery), By Range (Short, Medium, Long), By Subsystem (Engines, Chassis, Turrets, Ammunition Handling Systems, Fire Control Systems, Auxiliary Systems), and by Region; Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Artillery Systems Market was valued at USD 11.2 billion in 2023 and will surpass USD 16.6 billion by 2030; growing at a CAGR of 5.7% during 2024 - 2030.

The artillery systems market is a critical component of modern defense strategies, encompassing a wide range of weaponry and support systems designed to deliver firepower across various terrains and combat scenarios. As nations continue to invest in advanced military technologies to enhance their operational capabilities, the demand for sophisticated artillery systems has witnessed significant growth. This market is characterized by diverse segments, including towed artillery, self-propelled artillery, rocket artillery, and more, each serving specific tactical purposes. With increasing geopolitical tensions and the need for national security, the artillery systems market is projected to experience substantial growth from 2024 to 2030.

Towed Artillery Segment is Largest Owing to Its Versatility and Cost-Effectiveness

The towed artillery segment is the largest in the artillery systems market, primarily due to its versatility and cost-effectiveness. Towed artillery systems are designed to be easily transported and deployed, making them suitable for a variety of terrains and operational contexts. These systems are typically employed by armed forces across the globe for their ability to deliver high levels of firepower while maintaining mobility. The relatively low cost of acquisition and maintenance compared to other artillery types further enhances their appeal, particularly for countries with budget constraints.

In addition to cost efficiency, towed artillery offers operational flexibility. These systems can be quickly set up and relocated, allowing military forces to adapt to changing battlefield conditions. As nations continue to modernize their armed forces, the investment in towed artillery remains significant, with an increasing focus on enhancing the precision and range of these systems through technological advancements. As a result, the towed artillery segment is expected to maintain its leading position in the artillery systems market.

Self-Propelled Artillery Segment is Fastest Growing Owing to Technological Advancements

The self-propelled artillery segment is witnessing rapid growth, driven by significant technological advancements and the increasing demand for enhanced operational capabilities. Self-propelled artillery systems are equipped with their own propulsion mechanisms, allowing for greater mobility and rapid repositioning on the battlefield. This capability is crucial in modern warfare, where rapid response times can significantly impact the outcome of military engagements. As militaries across the globe seek to improve their response capabilities, the self-propelled artillery segment is projected to grow at a CAGR of approximately 6.3% from 2024 to 2030.

Technological innovations such as automation, advanced targeting systems, and improved fire control mechanisms are further propelling the growth of self-propelled artillery systems. These advancements enhance the accuracy and efficiency of artillery strikes, making them invaluable assets for modern armed forces. Additionally, the trend towards integrating self-propelled artillery with unmanned systems and networked battlefield solutions is expected to drive further growth in this segment, as military leaders recognize the operational advantages these systems provide.

Rocket Artillery Segment is Largest Owing to Its Destructive Power and Range

The rocket artillery segment stands out as the largest in terms of destructive capabilities and range. Rocket artillery systems, which include multiple launch rocket systems (MLRS), are designed to deliver a high volume of firepower over considerable distances, making them essential components in modern artillery operations. These systems can fire guided or unguided munitions, providing flexibility for various tactical scenarios. Their ability to saturate an area with fire while maintaining relatively high mobility has solidified their importance on the battlefield.

Moreover, the increasing focus on precision strike capabilities has led to advancements in rocket artillery technologies. Innovations such as GPS-guided rockets and improved launch platforms have enhanced the effectiveness of these systems, allowing for more accurate targeting with reduced collateral damage. As a result, the rocket artillery segment is expected to retain its leadership position within the artillery systems market, catering to the evolving needs of military operations worldwide.

Mortar Systems Segment is Fastest Growing Owing to Their Tactical Advantages in Urban Warfare

The mortar systems segment is emerging as the fastest growing segment in the artillery systems market, primarily due to their tactical advantages in urban warfare scenarios. Mortars are lightweight, portable artillery systems that can be easily deployed in close combat situations, providing critical fire support to ground troops. As urban warfare becomes more prevalent, the demand for effective mortar systems has surged, driven by their ability to deliver precise indirect fire in confined environments.

Recent advancements in mortar technology, such as improved accuracy and enhanced range, are further contributing to the segment's growth. Modern mortars are increasingly equipped with advanced targeting systems and smart munitions, allowing for more effective engagements in complex terrains. With military strategies increasingly focusing on counterinsurgency and stabilization operations, the mortar systems segment is expected to experience a significant uptick in demand, growing at a CAGR of approximately 5.5% during the forecast period from 2024 to 2030.

Asia-Pacific Region is Fastest Growing Due to Increased Defense Expenditures

The Asia-Pacific region is projected to be the fastest growing market for artillery systems, driven by increased defense expenditures among countries in the region. Nations such as India, China, and Japan are significantly enhancing their military capabilities in response to rising geopolitical tensions and security challenges. The focus on modernizing artillery systems and investing in advanced technologies is a key factor contributing to the region's rapid growth in this market.

Moreover, the Asia-Pacific region is experiencing a surge in joint military exercises and collaborations among countries, further fueling the demand for advanced artillery systems. As nations strive to bolster their defense capabilities and improve regional security, the artillery systems market in Asia-Pacific is expected to witness a substantial increase, with a projected CAGR of approximately 7.2% from 2024 to 2030.

Competitive Landscape and Leading Companies

The competitive landscape of the artillery systems market is characterized by the presence of several key players who are continually innovating and expanding their product offerings. Leading companies in this market include Raytheon Technologies Corporation, BAE Systems, Northrop Grumman Corporation, Lockheed Martin Corporation, and Rheinmetall AG. These firms are heavily investing in research and development to enhance their artillery systems and maintain a competitive edge.

The market is also witnessing strategic partnerships and collaborations among companies to leverage technological advancements and expand their market reach. With the increasing demand for advanced artillery systems, competition is expected to intensify, driving further innovation and advancements in this sector. As countries focus on modernization and enhancing their military capabilities, the artillery systems market is poised for significant growth in the coming years, providing ample opportunities for both established and emerging players.

Report Objectives:

The report will help you answer some of the most critical questions in the Artillery Systems Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the artillery systems market?
3. What is the size of the artillery systems market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Middle East, and Rest of the World?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: