Artillery Systems Market Overview, Growth, Trends, Analysis

 The artillery systems market size is projected to reach US$ 20.98 billion by 2031 from US$ 11.99 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. Rising deployment of self-propelled artillery systems is likely to bring in new trends in the market.

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Artillery Systems Market Analysis

The rise in military expenditures across countries and the increase in tensions among countries are a few major factors propelling the demand for artillery systems across the world. Several countries are taking serious actions to ensure the safety of their nation, owing to which they are collaborating with other countries by joining forces to increase their armed forces capabilities. For instance, following the Russia-Ukraine conflict, the US has been taking initiatives to increase its military presence across European countries for the long haul by establishing its first permanent presence in Poland to bolster regional security. Several forces are being deployed in the country, along with required ammunition and firearms. Such initiatives are driving the growth of the artillery systems market across the world.