According to the latest report by IMARC Group, titled, “Multiple Launch Rocket System Market :Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″,The global multiple launch rocket systems (MLRS) market is expected to grow at a CAGR of around 5% during 2021-2026.
A multiple launch rocket system (MLRS) refers to a type of rocket artillery system used for shooting guided rockets and missiles. It involves various launchers that are assembled on a platform and comprises a fire control unit. MLRS delivers long and effective range, high payload, low recoil, and can carry multiple warheads. These systems are lightweight and offer increased mobility, on account of which they are increasingly utilized in the defense and military sectors.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Multiple Launch Rocket System Market Trends:
The constantly changing warfare situations and rising security threats across borders are among the key factors driving the global MLRS market. In line with this, governments of various nations are increasingly funding the development of advanced weapons, which is supporting the market growth. Additionally, the rising expenditure on artillery upgradation programs and the acquisition of modern MLRS systems to improve tactical parameters is catalyzing the market growth. Moreover, the growing preference towards guided ammunition and the rising use of inertial guidance or global positioning system (GPS) in rockets to enable higher accuracy in precision-guided munitions are creating a positive outlook for the market.
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Global Multiple Launch Rocket System Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Avibrás Indústria Aeroespacial, BAE Systems Plc, Denel Land Systems (Denel SOC Ltd.), Diehl Defence GmbH & Co. KG (Diehl Stiftung & Co. KG), Hanwha Corporation, IMI Systems Ltd. (Elbit Systems Ltd.), Larsen & Toubro Limited, Lockheed Martin Corporation, Roketsan Roket Sanayii ve Ticaret A.S. and Tata Advanced Systems Limited (Tata Sons Private Limited).
The report has segmented the market on the basis on region, launch vehicle, caliber type, range and pod capacity.
Breakup by Launch Vehicle:
- Tracked
- Wheeled
Breakup by Caliber Type:
- 70-180 mm
- 180-300 mm
Breakup by Range:
- 10-100 km
- 100-300 km
Breakup by Pod Capacity:
- Upto 16
- More than 16
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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