Market Overview:
Mortar Artillery Systems Market Size is expected to reach USD 9.17 Billion by 2030, registering a CAGR of 7.22% during 2020-2030
The global Mortar Artillery Systems Market has been segmented by type, component, range, and region.
The market has been segmented based on type into mortars, howitzers, rocket artillery, and other weapons. Due to the rising use of howitzers by military forces around the world, the howitzers market is anticipated to expand at the fastest rate during the forecast period. The market has been divided into three ranges: short, medium, and long. The market has been divided into categories for gun turrets, fire control systems, ammo handling systems, auxiliary systems, and others based on component.
North America, Europe, Asia-Pacific, the Middle East Africa, and Latin America are the five key regions for which the global market for mortar artillery systems has been analyzed.
Key Players:
The key players in the global Mortar Artillery Systems Market are
Avibras (Brazil), BAE Systems (UK), China North Industries Corporation (Norinco) (China), Denel SOC Ltd (South Africa), Elbit Systems (Israel), General Dynamics (US), Hanwha Group (South Korea), IMI Systems (Israel), Kmw+Nexter Defense Systems (KNDS) (Netherlands), and Lockheed Martin (US).
Market Segmentation:
The scope of the study segments the Mortar Artillery Systems Market by type, component, range, and region.
By Type
Mortars, Howitzers, Rocket Artillery, Others
By Component
Gun Turret, Fire Control System, Ammunition Handling System, Auxiliary System, Others
By Range
Short Range, Medium Range, Long Range
By Region
North America, Europe, Asia-Pacific, Middle East Africa, Latin America
Regional Analysis:
The global market for mortar artillery systems is outlined in this study, which tracks three market categories across five geographical areas. With a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East Africa, and Latin America, the study examines important players.
In 2017, North America accounted for the greatest portion of the global market for mortar artillery systems as a result of a sharp rise in defence spending in the US and Canada. Similarly, it is anticipated that during the review period, the ongoing US military modernization programme will fuel demand for artillery systems.
Because of the growing demand in the UK, France, Russia, and Germany, Europe is one of the top markets for artillery systems. The rise in terrorism-related incidents and border conflicts is responsible for the regional market's expansion.
During the projection period, the market in Asia-Pacific is anticipated to grow at the fastest rate. Market expansion in this region is anticipated to be fueled by an increase in border disputes and increased government equipment spending. The demand for artillery systems is anticipated to rise in the Middle East and Africa as a result of the increase in terrorist attacks and the substantial military budgets of Israel and Iran.
Full report @ https://www.marketresearchfuture.com/reports/artillery-systems-market-6787
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