North America Artillery Systems Market Forecast to 2031 - Regional Analysis - by Component, Range, Caliber, and Type

The North America artillery systems market was valued at US$ 4.00 billion in 2023 and is expected to reach US$ 7.01 billion by 2031; it is estimated to register a CAGR of 7.3% from 2023 to 2031.

Rising Global Military Expenditure Fuels North America Artillery Systems Market

The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports army and military forces to obtain enhanced technologies and equipment from domestic or international developers. On the other hand, military and army vehicle upgrades are on the rise owing to growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces.

There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring artillery systems and other advanced technologies. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure worldwide.

As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2.44 trillion in 2023, representing a 13.7% increase from 2022. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2023, accounting for around 61% of global expenditures. The figure given below depicts the yearly spending of these countries.

Military Expenditure of Top Five Countries (2021-2023)

Country

• 2021 (US$ Billion)
• 2022 (US$ Billion)
• 2023 (US$ Billion)

US

• 800.67
• 876.94
• 916.00

China

• 293.35
• 291.96
• 296.00

Russia

• 65.91
• 86.37
• 109.01

India

• 76.59
• 81.36
• 83.60

Saudi Arabia

• 55.56
• 75.01
• 75.80

The increasing military expenditure encourages incorporating advanced warfare technologies such as high-range antennas, self-propelled artillery, advanced communication devices, unmanned vehicles, radars, missile detection systems, surveillance and navigation systems, and modern warfare technologies. In addition, a high military budget supports the countries in assigning resources for the advancement and upgrade of their existing air, ground-based, and naval defense systems.

North America Artillery Systems Market Overview

The North America artillery systems market plays a pivotal role in shaping the military capabilities of nations, influencing defense strategies, and contributing to geopolitical dynamics. With a multifaceted landscape influenced by technological advancements, security threats, and international collaborations, the artillery systems market is characterized by ongoing modernization efforts, diversification of capabilities, and the integration of cutting-edge technologies. The demand for diversified artillery capabilities is a key factor shaping the global market.

Nations seek artillery systems that can address a spectrum of operational scenarios, from conventional warfare to counterinsurgency operations. This diversification includes the development and acquisition of various artillery types, such as towed howitzers, self-propelled artillery, rocket launchers, and mortars. The goal is to possess a versatile artillery portfolio that can respond effectively to different threats and terrains.

Collaborations and partnerships between nations and defense contractors are common in the North America artillery systems market. International alliances contribute to technology transfer, joint development programs, and the exchange of expertise. For instance, in December 2023, BAE Systems, based in the UK, secured a substantial $ 8.8 billion contract to maintain and operate a USD Army ammunition plant in Tennessee. The contract, awarded by the Department of Defense (DoD), spans a duration of 10 years, running from January 1, 2024, to December 31, 2033. BAE Systems is tasked with the production of explosives, as well as the maintenance and operation of the Holston Army Ammunition Plant.

This significant and long-term contract not only underscores BAE Systems' role in supporting U.S. defense infrastructure but also highlights the strategic importance of private-sector partnerships in ensuring the sustained production and operation of critical military assets. The contract reflects ongoing defense expenditure, emphasizing the continued importance of defense investments globally. Nations worldwide are consistently investing in the maintenance and enhancement of their military capabilities, driving the global defense market.

Geopolitical considerations significantly influence the North America artillery systems market. Strategic rivalries, territorial disputes, and regional conflicts drive the demand for artillery capabilities. Nations often align their procurement strategies with perceived threats and geopolitical realities. The arms race and military build-up in certain regions contribute to the growth of the artillery market as countries strive to maintain strategic parity or superiority.

North America Artillery Systems Market Revenue and Forecast to 2031 (US$ Million)

North America Artillery Systems Market Segmentation

The North America artillery systems market is categorized into component, range, caliber, type, and country.

• 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 the largest North America artillery systems market share in 2023.
• 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 the largest North America artillery systems market share in 2023.
• By caliber, the North America artillery systems market is divided into small caliber, medium caliber, and large caliber. The medium caliber segment held the largest North America artillery systems market share in 2023.
• Based on type, the North America artillery systems market is categorized into howitzer, mortar, and rocket artillery. The howitzer segment held the largest North America artillery systems market share in 2023.
• Based on country, the North America artillery systems market is categorized into the US, Canada, and Mexico. The US dominated the North America artillery systems market share in 2023.

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

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