Artillery Systems Market - Global Forecast to 2022: Increasing Demand for Artillery Systems from the Military Sector and Ongoing Military Modernization Programs
DUBLIN, Feb. 16, 2018 /PRNewswire/ --
The "Artillery Systems Market by Type (Howitzer, Mortar, Anti-air, Rocket), Component (Gun Turret, Engine, Fire Control System, Ammunition Handling System, Chassis, Auxiliary System), Caliber (Small, Medium, Heavy), Range, Region- Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
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The artillery systems market is projected to grow from USD 9.83 Billion in 2017 to USD 13.94 Billion by 2022, at a CAGR of 7.23% during the forecast period.
Increasing demand for artillery systems from the military sector and ongoing military modernization programs worldwide are key factors driving the growth of the artillery systems market.
Based on type, the artillery systems market has been segmented into howitzer, mortar, anti-air, rockets, and others. The howitzer segment of the artillery systems market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased adoption of self-propelled howitzer as well as towed howitzer by militaries force across the globe.
Based on calibre, the medium caliber segment is projected to lead the artillery systems market from 2017 to 2022. However, the medium calibre segment of the artillery systems market is expected to grow at the highest CAGR during the forecast period. This growth can be attributed due to increasing demand for medium caliber artillery systems, such as MLRS, howitzers, mortars, and other systems.
The artillery systems market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The upgrade of warfare platforms by military forces of various countries in the Asia Pacific region is projected to drive the growth of the artillery systems market in this region. China, India, and South Korea are major countries investing in the procurement of artillery systems and related technologies. China is the major market for artillery systems in Asia Pacific, primarily owing to the continuous technological advancements in the country and other factors, such as geopolitical scenarios and replacement of older systems.
The high cost of self-propelled artillery systems and failure of the gun system in adverse weather conditions are key challenges to the growth of the artillery systems market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Artillery Systems Market, By Type
8 Artillery Systems Market, By Component
9 Artillery Systems Market, By Range
10 Artillery Systems Market, By Caliber
11 Regional Analysis
12 Competitive Landscape
13 Company Profiles
-- Avibras
-- BAE Systems
-- China North Industries Corporation (Norinco)
-- Denel Soc Ltd
-- Elbit Systems
-- General Dynamics
-- Hanwha Group
-- IMI Systems
-- Kmw+Nexter Defense Systems (KNDS)
-- Lockheed Martin
-- Ruag Group
-- ST Engineering
For more information about this report visit https://www.researchandmarkets.com/research/5pc66k/artillery_systems?w=5
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