The Increasing Tension across the International Borders of the Countries to Bolster Global Artillery Market

Mon, 30 November 2020 4:11

The global market of artillery is anticipated to develop at an optimistic pace of growth over the forecast period. The increasing market is mainly due to the rising tension across the international borders of the countries. Additionally, the increment in the warfare engagement and extensive military operations in the Middle East region by the deployed military troops of countries such as the U.S. and Russia is further bolstering the use and vitality of the market across the regions. Many countries are focused on developing armed forces' abilities and procurement of weaponry and artillery capable of inflicting harm and are capable of creating prominent disruption to enhance their stature in the international platforms.

Moreover, the countries such as India and China in the Asia-Pacific region with tension escalated across the national borders due to territorial claims from both the sides and frequent engagement of the armed troops has intensified the requirement of the artillery across both the sides to handle situations with extreme emergency and development sensitive situation on the actual line of control. India is also facing challenges such as establishing terror camps along borders and infiltration of a terrorist through the international borders. The country is also tackling the problem by destroying the camps and establishments with long-range artilleries. The use of artilleries to hit the farthest targets and with high accuracy and precision is expected to aid the market's development.

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Key Highlights

  • The global artillery market is expected to grow at a compound annual growth rate (CAGR) of 6.7% during the forecast period.
  • Need to protect the country’s borders against foreign intrusion, obstructing the efforts of violating Line of Control and infiltrating territories of the neighboring nations are some of the prominent factors encouraging the development scenario for the market.
  • Due to the COVID-19 outbreak, and many countries shifted their focus towards tackling with the biological hazard and increasing healthcare situation in their countries. The curbed revenue generation of the government is also expected to considerably reduce the expenditure in procurement of defense systems. The pandemic effect is expected to heavily contribute for the market decrement.
  • Market of North America is expected to govern major share in the market on the back of the presence of need of better and enhanced security solutions and defense and security annual budget of the federal government. The involvement of U.S. in the international; affairs of the countries in Europe region and deployment of troops in war torn countries such as Afghanistan and Iraq are enhancing market development of the region
  • Market of Asia-Pacific is estimated to progress with a strong pace in the market, the growth is primarily contributed towards the development of strength of the army of the countries in South Asia region and also investment made by China to strengthen the position in the region. The strained international relations between India and China is further inviting need of Artillery solutions in the government and defense sector.
  • Medium range segment is anticipated to retain its stronghold in the segmental revenue share due to vitality of these Artillery solutions in coping up the situations of the hybrid warfare and also help to gain a stronghold in the scenes of the development of small and intense battlefield with both sides are trying to fortify the claim on the territory.

According to Straits Analysis, key players in the global Artillery market are IBM, Okta,White Hat Security, Quays, Proof point, International Business Machines Corporation, Barracuda Networks, Stratum, Kaspersky Lab, DXC Technology, Ancient, Trend Micro Mind sight, and Scalar among others.

Artillery Market: Segmentation

By Component

  • Gun Turret
  • Fire Control System
  • Ammunition Handling System
  • Auxiliary System

By Range

  • Short Range
  • Medium Range
  • Long Range

By Type

  • Mortar
  • Rocket Artillery
  • Howitzer

By Caliber

  • Small Caliber
  • Medium Caliber
  • Heavy Caliber

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Australia
  • South Korea
  • Rest of Asia-Pacific

South America

  • Colombia
  • Chile
  • Peru
  • Argentina
  • Rest of South America

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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