USA-Canada, Nov. 9, 2015 (GLOBE NEWSWIRE) -- Global spending on artillery and systems is expected to register a CAGR of 3.64% over the forecast period, primarily due to the procurement anticipated by major defense spending countries that are currently involved in conflicts, and emerging economies involved in territorial disputes and countering insurgencies. In addition, the need to maintain a sufficient inventory of second line of fire artillery systems for militaries worldwide and the increasing demand for training systems is also anticipated to have a positive impact on demand. Furthermore, modernization initiatives are focusing on the upgrade of existing firearms and the induction of new advanced models are also expected to encourage spending.
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The global artilleries and systems market is expected to be worth US$3.6 billion in 2015 and is expected increase to US$5.2 billion by 2025.
The Asia Pacific region is estimated to account for the largest share of 56% in the global artillery and systems market, with the region accounting for a cumulative spending of US$30.2 billion over the forecast period. The region will be followed by North America and Europe, with respective spending of US$9.9 billion and US$8.9 billion during 2015-2025
In terms of segments, self propelled artillery, towed artillery and other artillery systems are expected to be the top three segments in the global artillery systems market over the forecast period: the self propelled artillery segment is expected to account for 51% of the total market, the towed artillery segment is estimated to comprise 35%, the other artillery systems segment will represent 8% and the mortar systems segment is estimated to account for 6% of the market
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The Global Artilleries and Systems Market 20152025 report offers a detailed analysis of the industry with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for artillery systems, key market trends, and challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following:
Market size and drivers: detailed analysis during 20152025, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of artillery system segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
SWOT analysis: a study of the industry characteristics by determining the strengths, weaknesses, opportunities, and threats
Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
Major programs: details of the key programs in each segment, which are expected to be executed during 2015-2025
Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis
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Identify the major channels that are driving the global market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
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Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top artilleries and systems providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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