Global Artillery and Systems Market 2017-2027 - ResearchAndMarkets.com

The "The Global Artillery and Systems Market 2017-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Artillery and Systems market, valued at over US$ Billion in 2017, is projected to grow at a CAGR of over 3.6%, to cross a value of US$10 Billion by 2027.

The cumulative market for global expenditure in the sector is valued at over US$95 Billion over the forecast period. The demand for artillery and systems is primarily driven by the anticipated procurement of major defense spending countries that are currently involved in conflicts, and emerging economies involved in territorial disputes and countering insurgencies. In addition, the need to maintain a sufficient inventory of second line of fire artillery systems for militaries across the world and the increasing demand for training systems is also anticipated to have a positive impact on demand.

Artillery and systems market is split into five segments: Turret Systems, Self-Propelled Artillery Systems, Towed Artillery Systems, Mortars and Other Artillery Systems. During the forecast period, the Turret Systems is expected to account for the largest share of spending, accounting for nearly 35% of the overall global market.

The demand for turrets is driven by the major armored vehicle procurement programs undertaken by major defense spenders across the globe. Turret Systems will be followed by the Self Propelled Artillery Systems segment, which is expected to account for over 30%, and the Towed Artillery segment is estimated to have a more than fifth of the share.

Global Artillery and Systems market is expected to be led by the Asia Pacific region with a share of just over 42% over the forecast period. The majority of spending in the region is expected to come from countries involved in territorial conflicts and currently countering insurgencies, such as India, China, Australia, and South Korea.

Companies Mentioned

• Elbit Systems
• Lockheed Martin Corporation
• BAE Systems
• Nexter Systems
• China North Industries Corporation (NORINCO)
• Avibras
• Hanwha Techwin

For more information about this report visit https://www.researchandmarkets.com/research/kcvbxl/global_artillery?w=4

View source version on businesswire.com: http://www.businesswire.com/news/home/20180119005692/en/