Multiple Launch Rocket Systems Market (By Launch Vehicle: Wheeled, and Tracked; By Range: 10 – 100 Km, and 100 – 300 Km; By Caliber: 70 – 80 mm, and 180 – 300 mm;By Pod Capacity: Up to 16, and 16 to 40; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Global Multiple Launch Rocket Systems Market is estimated to reach $1,075 Million by 2025; growing at a CAGR of 7.9% from 2017 to 2025.Multiple launch rocket systems are an armored, self-propelled type of rocket artillery. These rocket systems are capable to fire multiple rockets simultaneously and do extremely lethal damage when they hit with the target. They carry longer range, and considerably larger warheads than a normal sized artillery platform. These modern weaponries normally use GPS or inertial guidance to combine the advantages of rockets with high precision and accuracy.
Rising regional conflicts, increase in spending on artillery upgrade programs, and growing focus towards the development of long-range MLRS are the key factors driving the growth of the global multiple launch rocket systems market. However, inaccuracy of the system where the accuracy for MLRS is improved by modern GPS/INS aided systems, but the desired precision is still not achievable is the major hindrance for the market. Moreover, replacement of old systems, and improved electronics in MLRS launchers are expected to generate numerous growth opportunities for the market in the given forecast timeframe.
Launch vehicle, range, caliber, pod capacity, and geography are the major segments considered in the global multiple launch rocket systems market. On the basis of launch vehicle, the segment includes wheeled, and tracked. By range, the segment is bifurcated into 10 – 100 km, and 100 – 300 km. The caliber segment is further sub-segmented into 70 – 180 mm, 180 – 300 mm. Further, the pod capacity segment consists of up to 16, and 16 to 40.
Based on geography, the global MLRS market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Prominent players operating in the global market include BAE Systems Plc, LARSEN & TOUBRO LIMITED, AvibrasIndstriaAeroespacial S.A., IMI Systems, Lockheed Martin Corporation, Norinco Group, Tata Power Sed, Denel Land Systems, Roketsan, and Hanwha Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Global Multiple Launch Rocket Systems Market with respect to major segments such as launch vehicle, range, caliber, pod capacity, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the Global Multiple Launch Rocket Systems Market has been included in the report
- Profile of the key players in the Global Multiple Launch Rocket Systems Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Multiple Launch Rocket Systems Market
Launch Vehicle Segments
- 10 – 100 Km
- 100 – 300 Km
- 70 – 180 mm
- 180 – 300 mm
Pod Capacity Segments
- Up to 16
- 16 to 40
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East