Global Artillery Systems Market to reach USD 19.49 billion by 2027.Global Artillery Systems Market is valued approximately USD 12.06 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.1 % over the forecast period 2021-2027. Artillery is defined as a heavy military ranged weapon built to launch mortar, and it is one of the most drastic and inexpensive forms of land-based armament used at large scale across militaries. Threats of attacks by nations, increased demand for artillery-based system, and increasing government budget on military expenditure has led the adoption of Air and missile defense radar across the forecast period. Major countries in Asia and Middle East are in constant threat from each other thus making these regions a potential market for the firms. For instance, As per STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE (SIPRI) The Total global military expenditure rises to $1981 billion since last year, which is an increase of 2.6 percent from 2019. However, limited space for ammunition storage may act as a market restraint. Also, with initiation of weapon modernization programs, the adoption & demand for artillery systems are likely to increase.

Global Artillery Systems Market is segmented on the basis of geographical region as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technological advancement and major defense equipment industry located in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising military budget and constant threats between the nations would create profitable growth prospects for the Artillery Systems Market across Asia-Pacific region.

Major market player included in this report are:
Elbit Systems
BAE Systems
China North Industries Corporation (Norinco)
Hanwha Group
Kmw+Nexter Defense Systems (KNDS)
Denel Soc Ltd
IMI Systems
Lockheed Martin
ST Engineering
Ruag Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Howitzer
Mortar
Anti-Air Artillery
Rocket Artillery
Others
By Component:
Gun Turret
Engine
Fire Control System
Ammunition Handling System
Chassis
Auxiliary System
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Artillery Systems Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors