At 7.3% CAGR, North America Artillery Systems Market is Projected to be Worth US$ 7,017.63 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America artillery systems market was valued at US$ 4,005.96 million in 2023 and is expected to reach US$ 7,017.63 million by 2031, registering a CAGR of 7.3% from 2023 to 2031. Deployment of self-propelled artillery systems and deployment of countermeasure systems are among the critical factors attributed to drive the North America artillery systems market growth.

The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled artillery systems. The increasing adoption of self-propelled artillery systems reduces the logistics and transportation challenges faced while moving any artillery system. Self-propelled artillery systems allow for the reduction of the operational manpower required to operate any artillery systems such as howitzer or rocket artilleries.

Many companies have already developed self-propelled artillery systems to provide their customers with reliable and desired mission solutions to remain competitive in the highly competitive marketplace. For instance, in 2021, Czech company EXCALIBUR ARMY announced the launch of its DITA 155 mm wheeled self-propelled howitzer system at IDEX 2021. Similarly, many other companies have been collaboratively working for the development and advancements in the self-propelled artillery systems that is expected to cater the emerging needs for the customers in the coming years as well. Moreover, the majority of the companies are pushing their investments in terms of procurement of self-propelled howitzer systems. For instance, in November 2023, BAE Systems Plc won a contract worth US$ 63 million to produce self-propelled Paladin howitzers and ammunition carrier vehicles from the US military. Hence, the increase in the deployment of self-propelled artillery systems is anticipated to be a trend in the artillery systems market.

On the contrary, limited space for ammunitions in artillery systems hampers the growth of North America artillery systems market.

Based on component, the North America artillery systems market is segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment held 31.7% market share in 2023, amassing US$ 1,268.33 million. It is projected to garner US$ 2,425.66 million by 2031 to register 8.4% CAGR during 2023-2031.

In terms of range, the North America artillery systems market is segmented into short range, medium range, and long range. The medium range segment held 45.1% share of North America liquid nitrogen market in 2023, amassing US$ 1,808.38 million. It is anticipated to garner US$ 3,115.41 million by 2031 to expand at 7.0% CAGR during 2023-2031.

By caliber, the North America artillery systems market is divided into small caliber, medium caliber, and large caliber. The medium caliber segment held 47.4% share of North America artillery systems market in 2023, amassing US$ 1,900.75 million. It is projected to garner US$ 3,157.12 million by 2031 to expand at 6.5% CAGR from 2023 to 2031.

Based on type, the North America artillery systems market is categorized into howitzer, mortar, and rocket artillery. The howitzer segment held 44.1% share of North America artillery systems market in 2023, amassing US$ 1,768.25 million. It is predicted to garner US$ 3,282.02 million by 2031 to expand at 8.0% CAGR between 2023 and 2031.

Based on country, the North America artillery systems market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.1% share of North America artillery systems market in 2023. It was assessed at US$ 2,888.49 million in 2023 and is likely to hit US$ 5,203.58 million by 2031, registering a CAGR of 7.6% during 2023-2031.

Key players operating in the North America artillery systems market are BAE Systems Plc, Lockheed Martin Corp, Elbit Systems Ltd, Leonardo DRS Inc, Rheinmetall AG, KMW+NEXTER Defense Systems NV, and Singapore Technologies Engineering Ltd, among others.

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