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“Increasing demand for turret gun systems from military forces and modernization programs in various countries are the major factors driving the turret system market globally.”
The turret system market is expected to grow from USD 2.07 billion in 2017 to USD 2.88 billion by 2022, at a CAGR of 6.86% from 2017 to 2022. The market for turret system is driven by several factors such as rising incidences of asymmetric warfare and military forces of different countries across the globe are constantly enhancing their combat capabilities by procuring armored platforms equipped with advanced turret systems. In some cases, the occurrence of mechanical, electrical, and other failures in turret systems are a major restraint for the growth of the turret system market across the globe.
“The manned turret segment is expected to lead the market during the forecast period.”
Based on type, the turret system market has been segmented into manned turret and unmanned turret. The manned turret type segment is expected to lead the turret system market during the forecast period. Manned turret provides self-protection, ground fire support, and attacking capabilities to the warship with an optimal balance between situational awareness and crew protection capabilities.
“North America is expected to lead the turret system market; the Asia Pacific turret system market is projected to grow at the highest rate.”
The North America region is expected to lead the turret system market in 2017. However, the market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. In North America, the US is considered to be the largest market for turret system, owing to technological advancements and rising incidences of armed conflicts or war against terrorism. The US is one of the main manufacturers and end users of turret system across the globe, due to the threats received by the country and its participation in the war against terrorism in Syria, Iraq, and Afghanistan. The acceptance of turret system provides enhanced assistance to the troops and helps them in various military applications.
“Breakup of profile of primary participants for the turret system market.”
- By Company Type - Tier 1 – 40 %, Tier 2 – 35% and Tier 3 – 25%
- By Designation – C level – 45%, Director level – 25%, Others – 30%
- By Region – North America - 15%, Europe – 20%, APAC – 40%, RoW – 25%
The major companies profiled in the report include MOOG (US), Jenoptik (Germany), Otokar (Turkey), Control Solution (US), Curtiss-Wright (US), Lockheed Martin (US), Elbit Systems (Israel), Woodward (US), Bae Systems (UK), Rheinmetall (Germany), CMI Group (Belgium), and others.
This report presents a complete analysis of the turret system market during the forecast period. The turret system market has been broadly classified on the basis of platform (land, airborne, naval), component (turret drive, turret control unit, stabilization unit), type (manned, unmanned), and region.
Reasons To Buy the report:
From an insight perspective, this research report has focused on various levels of analysis ? industry analysis (industry trends and focus), market-share analysis of top players, vendor dive analysis of top 25 players, and company profiles, which together comprise and discuss the basic views on competitive landscape, emerging and high-growth segments of the turret system 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 turret system offered by top 25 players in the turret system market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the turret system market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyses markets for turret system across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the turret system market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the turret system market