Increase in Number of Special Security Agreement for Technological Advancement Fuel the Growth of Artillery System Market

Artillery system is a heavy and long ranged military weapons. The system consist of military weapons such as howitzer, rocket, and mortar to fire for far distance target that are beyond the reach of small range munitions. Multiple countries are using artillery systems in their defense forces during war situation to fire munitions over a long distance. Technological advancement upgraded the artillery systems to lighter, self-propelled, more mobile, and enhanced the firepower for battlefield use. Artillery systems are increasingly used in defense forces owing to its precise firepower, superior accuracy and less reload time.

Artillery Systems Market – Competitive Landscape

BAE Systems

Founded in 1979, BAE Systems is headquartered in London, United Kingdom. The company provide wide range of products and services for land, air, and naval forces. Additionally, the company design, develops, and manufactures advanced electronics, security, information technology solutions and customer support services for aerospace and defense industry. In July 2019, the company engaged in a contract of US$ 45 million with U.S. army for providing the Extended Range Cannon Artillery (ERCA) prototype to increase the range and rate of fire for self-propelled howitzers.

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Lockheed Martin Corporation

Founded in 1995, Lockheed Martin Corporation is headquartered in Bethesda, Maryland, United States. The company is a global security and aerospace company that designs, develops, and manufactures advanced technology systems, products and services for aerospace and defense industry. In July 2019, the company was awarded by U.S. army, U.S. Marine Corps, Romania and Poland under a US$ 492 million contract for providing high mobility artillery rocket system launchers.

General Dynamics Corporation

Founded in 1975, General Dynamics Corporation is headquartered in Stockholm, Sweden. The company provide information technology solutions for geospatial, agriculture, and mining industry worldwide. In June 2019, the company received a contract of US$ 15 million from the U.S. Army to develop the U.S. Army’s next generation 155mm artillery ammunition prototype and extend its cannon range with more than 24 miles.

Elbit Systems Ltd.

Founded in 1966, Elbit Systems Ltd. is headquartered in Haifa, Israel. The company developes, and provide various land, airborne, and naval products and systems for defense, and homeland security use. In March 2019, the was awarded with US$ 125 million contract from the Israeli Ministry of Defense for providing fully automatic self-propelled howitzer gun systems for Israeli defense forces.

Some of the key players operating in the global artillery systems market with significant developments include BAE Systems, Lockheed Martin Corporation, Elbit Systems Ltd., Nexter Group, General Dynamics Corporation, Avibras, Hanwha Techwin Co, Ltd., NORINCO Group, Denel SOC Ltd., and IMI Systems Ltd., among others.

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Artillery Systems Market – Dynamics

One of the major driving factors for the growth of global artillery systems market is increasing in number of special security agreements between department of defense and artillery systems manufacturing companies. Over the years, the defense department of various countries are focusing on strengthening their defense forces by investing huge amount in special security agreement with multiple defense companies for technological advancement in artillery systems. Artillery systems consist of rocket, howitzer, and mortar. Artillery systems are used in land, air, and naval forces during training and war situation.

Under the contract, artillery systems are being modified with improved rate and range of fire, accuracy to hit target locations, chassis performance, and technological advancement in launching systems. Use of technologically advanced howitzer, rockets, and mortar helps to optimize the performance of artillery systems. Hence, growing demand for artillery systems from defense industry and increase in defense expenditure for technological advancement in artillery systems from defense department of various countries across the globe are driving the growth of the global artillery systems market.

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