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Increasing spending on artillery modernization programs is expected to drive the multiple launch rocket system market (MLRS)
The multiple launch rocket systems market is projected to grow from an estimated USD 590.5 million in 2017 to USD 797.4 million in 2022, at a CAGR of 6.19% during the forecast period. The increase in spending on artillery upgrade programs i.e., increasing procurement and upgrade of MLRS systems is expected to drive the multiple launch rocket systems market for both MLRS and military systems manufacturers. The increasing prominence of MLRS in military’s artillery is expected to drive the MLRS systems market mainly in Europe and Asia Pacific regions.
The wheeled segment is estimated to dominate the MLRS market during the forecast period in North America
The wheeled segment in North America is expected to have the largest market share owing to the replacement of current fleet of M270 MLRS systems by high mobility, lightweight HIMARS systems. This could be attributed to the good cross-country mobility and speed provided by wheeled systems required for shoot & scoot operations.
The multiple launch rocket systems market is expected to witness the highest growth in Europe during the forecast period
The multiple launch rocket system market in Europe is projected to grow at the highest CAGR during the forecast period. North America accounted for the largest share of the multiple launch rocket systems market in 2016, and this trend is expected to continue throughout the forecast period. Increasing artillery modernization programs are expected to drive the MLRS systems market.
Profile break-up of primary participants of the multiple launch rocket systems market:
• By Company Type: Tier 1 – 30%, Tier 2 – 50% and Tier 3 – 20%
• By Designation: C level – 30%, Director level – 20%, Others – 50%
• By Region: North America – 39%, Europe – 31%, APAC – 17%, RoW – 13%
Major companies profiled in the multiple launch rocket systems market report are Lockheed Martin (US), Roketsan A.S. (Turkey), Avibras Industria Aeroespacial S.A. (Brazil), Hanwha Corporation (South Korea), NPO Splav (Russia), Norinco (China), and IMI Systems (Israel), among others.
The multiple launch rocket systems market has been segmented by launch vehicle, caliber, range, pod capacity, and region. By launch vehicle, the market has been segmented into tracked and wheeled. By caliber, the multiple launch rocket systems market has been segmented into 70-180 mm and 180-300 mm caliber system. By range, the multiple launch rocket systems market has been segmented into 10 -100 km and 100-300 km. By pod capacity, the MLRS has been segmented into up to 16 and 16 to 40.
Reasons To Buy the report:
From an insight perspective, this research report has focused on various levels of analyses ? industry analysis (industry & technology trends), market-share analysis of top players, and company profiles. These together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the multiple launch rocket systems market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the multiple launch rocket systems market and products offered by the top 12 players in the multiple launch rocket systems market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the multiple launch rocket systems market.
• Market Development: Comprehensive information about lucrative markets – the report analyses markets for multiple launch rocket systems across regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the multiple launch rocket systems market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities and vendor analysis of the leading players in the multiple launch rocket systems market.