The artillery systems market is estimated to be USD 11.8 billion in 2023 and is projected to reach USD 16.0 billion by 2028, at a CAGR of 6.2 % from 2023 to 2028. The growing usage off artillery systems globally can be attributed to several factors. Artillery systems can be deployed in various terrains and can adapt to different operational requirements, making them valuable assets for military forces in different regions and scenarios. Modern artillery systems are equipped with advanced targeting systems and precision-guided munitions, allowing for accurate and targeted strikes, minimizing collateral damage and civilian casualties. The nature of modern conflicts has shifted towards asymmetrical warfare, with an emphasis on counterinsurgency operations and urban warfare. Artillery systems offer the ability to engage targets at a distance, penetrate fortified positions, and neutralize threats in complex urban environments.
Bae Systems (UK), Lockheed Martin Corporation (US), Hanwha Group (South Korea), Elbit Systems (Israel) and Nexter Group (France) are some of the leading companies in the artillery systems market. To strengthen their position in this market, these companies have implemented a variety of growth strategies which include new product developments, contracts, collaborations, expansions, certifications, agreements, acquisitions, and R&D activities.
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Bae Systems (UK)
BAE Systems is a global defense, aerospace, and security company that operates in various segments.
Electronic Systems: This segment focuses on developing and delivering innovative electronic solutions for various defense and commercial applications. It includes products such as electronic warfare systems, avionics, sensors, communications systems, and power and energy management systems.
Cyber & Intelligence: BAE Systems' Cyber & Intelligence segment specializes in providing intelligence and security solutions to government and commercial customers. It offers advanced cyber defense, intelligence, and security products and services to help protect against cyber threats and enhance national security.
Air: This segment deals with the design, development, production, and support of military aircraft, including combat and trainer aircraft, unmanned aerial systems (UAS), and associated services. BAE Systems also provides maintenance, repair, and overhaul services for military aircraft and offers aftermarket support.
Maritime: The Maritime segment focuses on designing, building, and supporting naval ships and submarines, as well as providing associated services. BAE Systems is involved in the construction and integration of surface warships, including frigates and destroyers, and is a leading supplier of submarines.
Platforms & Services : In the Platform & Services BAE Systems provides military vehicle solutions, artillery systems, and associated services. This includes the design, development, and manufacturing of armored vehicles, combat vehicles, and artillery systems for defense forces worldwide.
Lockheed Martin Corporation (US)
Lockheed Martin Corporation is a global aerospace, defense, security, and advanced technology company. It operates through four main business segments:
Aeronautics: This segment focuses on designing, manufacturing, and servicing advanced military aircraft, including fighter jets, transport planes, and unmanned aerial systems. Lockheed Martin's aeronautics division also provides sustainment and upgrade services to ensure the longevity and effectiveness of its aircraft fleet.
Rotary and Mission Systems: This segment specializes in delivering advanced systems and solutions for maritime and land-based missions. It offers integrated naval and ground systems, including surface ships, submarines, combat systems, and command and control infrastructure.
Space: Lockheed Martin is a major player in the space industry. Its space segment is involved in the design, development, and manufacturing of satellites, spacecraft, and related technologies. The company provides solutions for communications, weather monitoring, exploration, and national security applications.
Missiles and Fire Control: This segment focuses on developing and producing advanced missile systems, precision weapons, fire control systems, and related technologies. These systems cater to both defense and civil customers, providing capabilities for air and missile defense, strike operations, and various precision-guided munitions.
Lockheed Martin is committed to pushing the boundaries of technology and innovation to address complex global challenges. The company invests heavily in research and development to enhance its product portfolio and maintain its position as a leader in the aerospace and defense industry.
Hanwha Group (South Korea)
Hanwha Group is a South Korean conglomerate with a diverse range of business interests. It was founded in 1952 and has since grown to become one of the largest and most influential companies in South Korea. Hanwha group operates through 4 business segments
Aerospace: Hanwha Aerospace is the aerospace division of Hanwha Group. It specializes in the manufacturing and supply of aerospace components and systems. The company provides a wide range of products and services to the aerospace industry, including aircraft engine parts, aircraft structures, space components, and avionics systems. This segments also consists of Hanwha Systems which manufactures state of the art artillery products and defense equipment.
Energy & Materials: This segment of the company is involved in various activities related to energy generation, renewable energy, and the production of advanced materials. These materials find applications in sectors such as automotive, electronics, construction, and focuses on eco-friendly solutions to enhance the efficiency and performance of various products and industries.
Finance: This segment focuses on the financial services industry. It encompasses a range of financial businesses and services, including banking, insurance, asset management, and securities. Hanwha Finance aims to provide comprehensive and customer-centric financial solutions to individuals, businesses, and institutions.
Retail & Services: Hanwha Retail & Services operates a range of retail stores and outlets, offering a wide selection of products across different categories. It includes department stores, supermarkets, convenience stores, and specialty retail stores. The segment also focuses on leisure and hospitality facilities.
Elbit Systems (Israel)
Elbit Systems Ltd. is an Israeli defense technology company specializing in a wide range of defense, security, and aerospace products and services.The Company operates in five main business segments:
Airborne systems: Elbit Systems is involved in the development and production of avionics systems and aerospace technologies. They provide avionics suites, mission computers, flight simulators, and other aircraft systems for both military and commercial applications. Additionally, they offer maintenance, repair, and overhaul (MRO) services for aircraft and their avionics systems.
C4ISR Systems: One of the key areas of expertise of elbit systems is in C4ISR systems. C4ISR stands for Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance. Elbit Systems develops and provides advanced C4ISR systems that enable military forces and security organizations to gather, process, and disseminate critical information for situational awareness and decision-making.
Land Systems: Elbit Systems Land develops and manufactures a range of armored vehicles for various military applications. They offer armored personnel carriers, infantry fighting vehicles, main battle tanks, and other specialized vehicles. Elbit Systems Land develops and manufactures a range of artillery systems. They offer advanced self-propelled howitzers, towed artillery systems, and rocket launchers. These systems provide long-range firepower, accuracy, and versatility to support land forces' artillery needs.
Electro-optic systems: Elbit Systems Electro-Optics focuses on the design, development, and manufacturing of electro-optical systems and solutions. These systems integrate various technologies, including optics, lasers, sensors, and image processing, to provide advanced capabilities for surveillance, targeting, and reconnaissance.
Others: Others segments include majorly non-defense engineering and production services.
Elbit Systems' objective is to provide innovative and cutting-edge defense and security solutions to its customers. The company aims to enhance the operational capabilities of military and security forces, as well as contribute to the safety and security of individuals, organizations, and nations.
Nexter Group (France)
Nexter Group is a major French defense company specializing in the design, development, production, and support of land defense systems. It is one of the leading European manufacturers of armored vehicles, artillery systems, and ammunition.
Armored Vehicles: Nexter Group is renowned for its expertise in designing and manufacturing armored vehicles for various purposes, including main battle tanks, armored infantry fighting vehicles, armored recovery vehicles, and armored personnel carriers. Their vehicles are known for their advanced technology, mobility, and protection capabilities.
Artillery Systems: The company also specializes in the development and production of artillery systems, including towed and self-propelled howitzers, multiple rocket launchers, and mortars. Nexter's artillery systems are known for their accuracy, range, and versatility.
Ammunition: Nexter Group produces a wide range of ammunition, including tank ammunition, artillery shells, mortar rounds, and small caliber ammunition. They focus on developing innovative ammunition solutions that enhance the performance and effectiveness of their systems.
Support and Services: Nexter Group provides comprehensive support and services throughout the lifecycle of its products. This includes training, technical assistance, maintenance, repair, and modernization services to ensure the operational readiness of its defense systems.
Nexter Group invests in research and development to continuously improve its products and develop cutting-edge defense technologies. They collaborate with academic institutions, research centers, and defense organizations to stay at the forefront of technological advancements.
Artillery Systems Market by Type (Howitzers, Rocket Launchers, Mortars, Anti-air weapons, Artillery), Range(Short-range, Medium-range, Long-range), Subsystem and Region (North America, Europe, Asia Pacific, ROW) - Global Forecast to 2028
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