According to the latest report published by Variant Market Research,the Global Multiple Launch Rocket Systems Marketsize is projected to reach $1,075 Million by 2025 from $586 Million in 2017. In this report, multiple launch rocket systems market forecast says that the global market is growing at a CAGR of 7.9% from 2017 to 2025. By Geography, Europe and Rest of the World are expected to grow at a CAGR of 8.6% and 8.2%, respectively, during the forecast period.
"Multiple Launch Rocket Systems Market (By Launch Vehicle: Wheeled, and Tracked; By Range: 10 – 100 Km, and 180 – 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"
The global multiple launch rocket systems market is mainly driven by rising regional conflicts globally
The factors driving the growth of the global multiple launch rocket systems market includes increase in spending on artillery upgrade programs, and rising regional conflicts. In addition, growing focus towards the development of long-range MLRS has also supported the market growth. However, inaccurate hitting to the target may hamper the growth of the market. Moreover, improved launcher mechanical systems, and replacement of old systems is likely to provide lucrative growth opportunities for the market in the coming years.
The global MRLS market is classified on the basis of launch vehicle, caliber, range, pod capacity, and geography. Based on launch vehicle, the classification is given as wheeled, and tracked. 70 – 180 mm, 180 – 300 mm are covered under the caliber segment. By range, the segmentation includes 10 – 100 km, and 100 – 300 km. Furthermore, pod capacity segment consists of up to 16, and 16 to 40.
The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, Russiaand Rest of Europe are analyzed under the European market. China, Japan, India, South Korea and Rest of Asia-Pacific are included under the Asia-Pacific market. While, RoW is bifurcated into South America, Middle East, and Africa.
Wheeled, by launch vehicle dominated the market with major share in 2017
On the basis of launch vehicle, the wheeled system occupied the majority of the share in the year 2017, and is expected to continue its trend over the forecast period 2017 – 2025. The market for wheeled systems is growing because of the superior mobility and speed compared to tracked systems. In addition, they are light in weight and can be carried by C-130.
100-300 Km in the range segment is expected to attain the fastest CAGR between 2017 and 2025
The 100 to 300 km firing range is anticipated to attian the fastest CAGR over the forecast period i.e. 2017 – 2025, owing to bigger calibre of the new systems that has the capability of launching rockets and missiles upto 300 km.
Europe led the global multiple launch rocket systems market with fastest CAGR
Europe is expected to grow with the fastest CAGR of 8.6% during the forecast period, driven by the artillery modernization programs such as HOMAR in Poland. However, North America contributed for the largest share in the global multiple launch rocket systems market, owing to increasing artillery modernization programs.
Key players operating in the market include LARSEN & TOUBRO LIMITED, BAE Systems Plc, IMI Systems, Lockheed Martin Corporation, AvibrasIndstriaAeroespacial S.A.,Tata Power Sed, Norinco Group, Hanwha Corporation,and Denel Land Systems, Roketsan, among others.