Last Updated: 01-08-2025 | Format: PDF | Report ID:20750 | Author: Ankit
| Key Market Question | Answer |
|---|---|
| What is the market size in 2025? | $4,950 Million |
| What is the projected market size by 2035? | $7,320 Million |
| What is the market CAGR from 2025 to 2035? | 4.0% |
| Which region dominates the market? | South (39%) |
| Which product/service type dominates the market? | Howitzer (34%) |
| Which application leads the market? | Defense (58%) |
| Who are the major buyers? | Department of Defense (64%), Homeland Security (15%) |
| What are the key market growth drivers? | Modernization of Defense Capabilities: The US military is heavily investing in upgrading its artillery arsenal with advanced systems like the Extended Range Cannon Artillery (ERCA) by BAE Systems; Integration of Smart & Guided Artillery: Companies like Raytheon are focusing on guided artillery technology |
| What are the major market challenges? | Cumbersome Regulatory Framework: Extensive compliance and export controls present significant hurdles; Supply Chain Vulnerabilities: Disruptions in raw material and electronic component supply |
| What is the forecast period? |
Study period:
2020-2035
Base year:
2026
Historical data
2020-2024
NO OF PAGE:
167
What You Get:
| 2026–2035 |
| Who are the key market players? | BAE Systems, Raytheon Technologies, Northrop Grumman, Lockheed Martin, General Dynamics, Elbit Systems, Boeing, Rheinmetall, Hanwha Defense, Leonardo, Israel Aerospace Industries, Oshkosh Defense, Nexter Systems, KMW Krauss-Maffei Wegmann, SAIC |
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