(MENAFN- GetNews) Global Artillery Systems Market Report: Information by Type (Mortar, Howitzer, & Rocket Artillery), Component (Gun Turret, Fire Control System, Ammunition Handling System, & Auxiliary System), Range (Short, Medium, & Long), & Region—Forecast till 2023
Market Overview:
Market Research Future has published a research report on the global artillery systems market that contains the information from 2018 to 2023. The global artillery systems market is projected to exhibit a CAGR of approximately 6.8% during the period 2018 to 2023.
The global artillery systems market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The market in Asia-Pacific is expected to grow at the fastest rate during the forecast period. The growth of the market in this region can be attributed to the increasing number of territorial disputes and government spending on the modernization of military forces.
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Segmentation:
By type, the global artillery systems market has been segmented into mortars, howitzers, rocket artillery, and others.
The mortars segment held the largest share of the global artillery systems market in 2017. Modern mortars are usually much smaller and lighter than howitzers. Mortar consists of a smooth-bore metal tube fixed to a base plate to absorb recoil. Its light weight makes mortars mobile, resulting in their widespread use by militaries. The howitzers segment of the global artillery systems market is projected to grow at the fastest pace during the forecast period. The growth of this segment can be attributed to the wide adoption of self-propelled howitzers and towed howitzers by armed forces across the world. Howitzer is more effective than mortar in the same role, but it is generally larger and heavier.
Based on range, the global artillery systems market has been divided into short, medium, and long.
The medium range segment accounted for the largest share of the global artillery systems market in 2017. Medium-range artillery has a range of 26 to 50 km. However, the long range segment of the global artillery systems market is projected to grow at the highest rate during the forecast period. This is due to the increasing number of border disputes; long-range artillery enables military forces to cover a larger portion of the target array.
Based on component, the global artillery systems market has been divided into gun turret, fire control system, ammunition handling system, auxiliary system, and others.
The fire control system segment accounted for the largest share of the global artillery systems market in 2017. However, the ammunition handling system segment of the global artillery systems market is projected to grow at the highest rate during the forecast period. This is due to the increased accuracy of target detection and firing with the use of global positioning systems (GPS), fire control systems, onboard navigation, ammunition handling system, and digital processing.
Key Companies:
We recognize the key players in the globalartillery systems marketas Avibras (Brazil), BAE Systems (UK), Norinco Group (China), Denel SOC Ltd (South Africa), Elbit Systems (Israel), General Dynamics (US), Hanwha Group (South Korea), IMI Systems (Israel), Kmw+Nexter Defense Systems (KNDS) (Netherlands), and Lockheed Martin (US).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis, for the leading competitors; it also offers a profile on the key market players. The report assists in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises a basic assessment of the competitive scenarios and strategies in the global aircraft towing equipment market, including high-growth regions and/or countries and the political and economic environment. The project report further provides historical market values and pricing and cost analysis.
Scope of the Report:
This study provides an overview of the global artillery systems market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The scope of the study segments the artillery systems market by type, component, range, and region.
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