Howitzer Market Research Reports, Growth and Analysis by Top Leaders Forecast 2030

The Howitzer Market size is expected to grow from US$ 5,098.26 million in 2022 to US$ 9,136.78 million by 2030; it is estimated to register a CAGR of 7.6% from 2022 to 2030.

In 2022, the North America accounted for the largest howitzer market share globally. The market in the region which is further expected to retain its dominance during the forecast period as well. The military expenditure is significantly increasing due to rising geopolitical tension. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure of the region was US$ 809 billion in 2020 and ; US$ 840 billion in 2021,; that which further reached to US$ 912 billion in 2022. Increased budgets allow for the incorporation of cutting-edge technologies into artillery systems. This might include improvements in communication systems, targeting capabilities, and the development of precision-guided munitions, making the artillery more sophisticated and effective. For instance, iIn February 2023, BAE Systems secured a contract worth US$ 466 million to provide the U.S. Army with its M109A7 Paladin self-propelled howitzers.

Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00083484?utm_source=OpenPr&utm_medium=10640

Analysis of the Top Market Players:

1. BAE Systems Plc
2. Elbit Systems Ltd
3. Avibras
4. Hanwha Group
5. RUAG Group
6. IMI Systems
7. General Dynamics
8. ST Engineering
9. Denel SOC Ltd
10. Saab AB

In this report, the market has been segmented on the basis of:

Component

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

Range

• Short Range
• Medium Range
• Long Range

Type

• Towed Howitzer
• Self-Propelled

Get full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/howitzer-market

The Ukraine-Russia conflict has contributed to the howitzer market growth in the North America region. While North America, primarily the US and Canada, is not directly involved in the conflict, several factors influence the regional military equipment market landscape. North American nations, particularly the United States US, have provided military support to Ukraine in response to the conflict. This support often includes the supply of advanced weaponry, possibly contributing to an increase inincreased demand for military hardware, including howitzers. The conflict reinforces the importance of strategic alliances and partnerships among North American nations and their allies.

Collaborative defense efforts may involve joint development programs or the exchange of military technologies, catalyzing the howitzer market growth. For instance, in April 2022, Canada played a vital role in reinforcing Ukraine's security forces by supplying M777 howitzers and accompanying ammunition. This collaborative effort, conducted in partnership with American Allies, involved the utilization of equipment from the inventory of the Canadian Armed Forces. The provision of M777 howitzers and ammunition is part of a substantial support initiative aimed at addressing the persisting security challenges in the North America region. Such factors have been catalyzing the howitzer market size growth in the North American region.

The global howitzer market is segmented based on component, range, type, and geography. Based on component, the howitzer market is segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. In terms of range, the howitzer market is segmented into short range, medium range, and long range. Based on type, the howitzer market has been segmented into towed howitzer and self-propelled. In terms of geography, the global howitzer market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Buy this research report at @: https://www.premiummarketinsights.com/buy/TIP00083484?utm_source=OpenPr&utm_medium=10640

Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Ankit Mathur
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com

About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

This release was published on openPR.