Howitzer Market Forecast to 2030 - Size, Share, Growth, Trends

[Research Report] 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.

Analyst Perspective:

The howitzer market has witnessed tremendous growth in the past few years. One of the major factors propelling the market growth is the rising military expenditure for procuring warfare technologies across different regions. The howitzer market trends include the rising development of self-propelled artillery systems. Self-propelled artillery systems are currently being utilized across major countries' wars, such as Russia-Ukraine, US-Iran, Israel-Palestine, and China-Taiwan. Howitzer manufacturers are majorly focusing on the development of innovative products to remain competitive in the market.

Market Overview:

The scope of the howitzer market report covers North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). The howitzer market is likely to register healthy growth in the coming years. However, the market is moderately consolidated with the presence of a limited number of players operating across different regions. Moreover, some of the countries have been pushing their military investments to procure self-propelled howitzers to replace their old, outdated howitzers and are operated with the higher operational costs.

The constant tensions among the countries such as Russia-Ukraine, China-Taiwan, Israel-Palestine, US-China, India-Pakistan, and India-China. Further, this is also due to the rising geopolitical competitions among different countries for strengthening their respective armed forces for which they are procuring advanced warfare technologies and adding more strength to their respective armed forces. Such factors have been pushing the deployment of howitzers and howitzer vehicles in larger numbers, which is further generating the need for howitzer systems across different regions.

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Market Driver:

Rising Number of Contracts for Howitzer Systems Fueling Howitzer Market Growth

Manufacturers operating in the artillery systems market strongly focus on collaborating with different governments and armed forces to comprehend their respective demands and offer them suitable solutions. The military forces of various countries are providing numerous contracts to artillery systems manufacturers to procure several communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in procuring artillery systems such as rocket artillery, mortars, and howitzers. Artillery systems are reliable for taking down short, medium, and long-range targets. They enable armed forces to facilitate enhanced remote firing on ground or naval platforms.

The majority of the countries' armed forces have been investing heavily in the procurement of artillery systems. A few examples are mentioned below:

• In December 2023, Poland's State Armament Agency announced that it had purchased K9 Howitzers from South Korea as a part of the US$ 2.6 billion deal with Hanwha Defense.
• In November 2023, BAE Systems won a contract worth US$ 63 million from the US DoD to produce self-propelled Paladin howitzers and ammunition carrier vehicles.
• In September 2023, the Indian Army passed a proposal to purchase 400 units of howitzers worth US$ 48 million from Indian firms.
• In December 2022, the Indian Defence Ministry issued a Request for Proposal to L&T for producing 100 units of K9 Howitzers through Hanwha Defense Technology.

The growing number of contracts and deals to procure advanced military forces to combat ground warfare is a major driver for the howitzer market globally.

Segmental Analysis:

The howitzermarket analysis has been carried out by considering the following segments: component, range, and type. Based on component, the market is segmented into gun turret, fire control system, ammunition handling system, auxiliary system, and others. The fire control system segment held the largest howitzer market share in 2022. The segment accounted for 31.9% of the market share and is expected to hold 34.7% of the market share by 2030. A fire control system is one of the most expensive and important components of any artillery system. Many countries have been investing a significant portion of their respective military expenditure to procure advanced fire control systems for their existing artilleries. Rising procurement of new artillery systems by different countries and increasing modification of existing artillery systems are among the factors propelling the demand for fire control systems across different regions. For instance, in September 2023, Elbit Systems Ltd won a contract worth US$ 200 million for supplying a C4I solution to artillery battalions and a Hostile Fire Counter Attack (HFCA) system to an undisclosed customer in the European Union.

Regional Analysis:

The North America howitzer market was valued at US$ 1,678.30 million in 2022 and is projected to reach US$ 3,016.69 million by 2030; it is expected to register a CAGR of 7.6% during 2022 to 2030. North America has the presence of a few major howitzer system manufacturers, such as BAE Systems Plc, Saab AB, General Dynamics Ordnance and Tactical Systems, and Northrop Grumman Corporation, which have their respective production facilities across different parts of the region and keeps catering to the demand for howitzer systems from their respective facilities. The US accounted for the largest howitzer market share in the North America market, owing to the presence of the key howitzer manufacturers and the largest military expenditure globally.

Howitzer Market Regional Insights

The regional trends and factors influencing the Howitzer Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Howitzer Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Howitzer Market Report Scope

Howitzer Market Players Density: Understanding Its Impact on Business Dynamics

The Howitzer Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Howitzer Market are:

1. BAE Systems Plc
2. Elbit Systems Ltd
3. Avibras
4. Hanwha Group
5. RUAG Group

Disclaimer: The companies listed above are not ranked in any particular order.

Key Player Analysis:

The howitzer market report includes the company profiles of players such as BAE Systems Plc, Elbit Systems Ltd, Avibras, Hanwha Group, RUAG Group, IMI Systems, General Dynamics, ST Engineering, Denel SOC Ltd, and Saab AB. These are the top market players, owing to the diversified product portfolio offered.

Recent Developments:

The howitzer market forecast can help stakeholders plan their growth strategies. Inorganic and organic strategies such as product launches, mergers, and acquisitions are highly adopted by companies operating in the howitzer market. For instance, in July 2023, Avibras Indústria Aeroespacial signed a memorandum of understanding with Saudi company SCOPA Defense to develop and manufacture advanced defense equipment. The partnership aims to create new jobs, ensure Saudi Arabia's sovereignty, and contribute to the private sector. SCOPA aims to stimulate other sectors, such as industrial equipment, communications, and information technology, by establishing private defense industries. Such strategic initiatives catalyze the howitzer market growth from the suppliers' perspective.