PUNE, India, February 7, 2018
PUNE, India, February 7, 2018 /PRNewswire/ --
According to the new research report "Artillery Systems Market by Type (Howitzer, Mortar, Anti-air, Rocket), Component (Gun Turret, Engine, Fire Control System, Ammunition Handling System, Chassis, Auxiliary System), Caliber (Small, Medium, Heavy), Range, Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 9.83 Billion in 2017 to USD 13.94 Billion by 2022, at a CAGR of 7.23% from 2017 to 2022. Increasing demand for artillery systems from the military sector and ongoing military modernization programs worldwide are driving the growth of the market for artillery system.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 121 tables and 61 figures spread through 164 pages and in-depth TOC on "Artillery Systems Market - Global Forecast to 2022"
Early buyers will receive 10% customization on this report
Based on type, the howitzer segment is leading the artillery system market
Based on type, the howitzer segment is leading the artillery system market and is expected to continue its dominance till 2022. Howitzers are widely used for long range bombardment and for supporting ground forces. The demand for towed howitzer as well as self-propelled howitzer is increasing among various regions.
Based on caliber, the medium caliber segment of the artillery system market is expected to grow at a high rate during the forecast period
Based on caliber, the artillery system market has been segmented into small caliber, medium caliber, and heavy caliber. The medium caliber segment leads the artillery system market and is also projected to grow at a high rate during the forecast period. Medium caliber segment consists of artillery systems having caliber in between 105mm to 155mm. This growth can be attributed to the increase in procurement of 155mm artillery guns, 120 mm mortars, and other medium caliber artillery guns.
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=69844596
The market for artillery system in Asia Pacific is projected to grow at the highest rate during the forecast period
The rapid growth of the artillery system market in Asia Pacific can be attributed to the increased defense spending of emerging countries such as India and China in this region. India is upgrading its old artillery systems with indigenously produced towed artillery guns. South Korea is also rapidly expanding its fleet of artillery due to threat from North Korea.
Inquiry Before Buy @ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=69844596
Major players operating in the artillery system market are BAE Systems (UK), Lockheed Martin (US), Elbit System (Israel), General Dynamics (US), NORINCO (China), Hanwha Techwin (South Korea), and others.
Browse Related Reports
Turret System Market by Platform (Land, Naval, Airborne), Type (Manned, Unmanned), Component (Turret Drive, Turret Control Unit, Stabilization Control), and Region - Global Forecast to 2022
Armored Vehicles Market by Application (Defense, Commercial), Defense Products (MBT, LPV, AAV, MRAP, IFV, APC, Others), Commercial Products (SUV, Sedan, Limousine, Bus/Van, Others), Technology (Active, Passive), Type, & Region - Global Forecast to 2021
Subscribe Reports from Aerospace & Defence Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog@ http://mnmblog.org/market-research/aerospace-defence
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets