Global Multiple Launch Rocket Systems (MLRS) Market Size By Launch Vehicle, By Caliber Range, By Pod Capacity, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Multiple Launch Rocket Systems (MLRS) Market Size And Forecast
Multiple Launch Rocket Systems (MLRS) Market size was valued at USD 895.93 Million in 2023 and is projected to reach USD 1837.83 Million by 2030, growing at a CAGR of 10.41% during the forecast period 2024-2030.
Global Multiple Launch Rocket Systems (MLRS) Market Drivers
The market drivers for the Multiple Launch Rocket Systems (MLRS) Market can be influenced by various factors. These may include
Programs for Modernization and Upgrade To improve the capabilities of their current MLRS systems, such as increased range, accuracy, and versatility, many nations are investing in their modernization. The need for new MLRS units or the retrofitting of old ones with cutting-edge technologies is driven by modernization plans.
Geopolitical Tensions and Military Conflicts As countries look to bolster their defense capabilities and fend off possible enemies, increased geopolitical tensions and regional conflicts fuel the market for military hardware, particularly MLRS. In these kinds of situations, the need for MLRS systems rises due to the requirement for quick and accurate firepower.
Growing Defense Budgets The MLRS market is expanding as a result of growing defense budgets across the globe, especially in emerging economies and areas where there are security concerns. Governments set aside money to buy MLRS and other contemporary weapons in order to preserve military might and technological supremacy.
Focus on Precision attack skills To reduce collateral damage and improve operational efficacy, there is an increasing focus on precision attack skills. Military forces are adopting MLRS systems because they provide increased accuracy and versatility when paired with guided rockets or precision-guided bombs (PGMs).
Technological Developments More powerful and adaptable MLRS platforms can be created thanks to developments in materials science, guidance systems, and rocket propulsion. The performance of MLRS systems is improved by innovations like autonomous targeting systems, extended-range rockets, and networked warfare capabilities, which propel market expansion.
Demand for Flexible and Mobile Weapon Systems MLRS systems are appealing for a range of military activities, such as counterterrorism, counterinsurgency, and expeditionary missions, since they offer a mobile and quickly deployable firepower solution. The market for MLRS is driven by the necessity for adaptable and agile weapon systems in contemporary battle settings.
sell Opportunities Companies that manufacture goods and provide defense contracts look for ways to sell their products to foreign markets where MLRS systems are in demand. Facilitating the export of MLRS platforms and related technology include government-to-government agreements, trade events, and strategic collaborations.
Threat Landscape and Defense Plan A growing number of asymmetric threats, ballistic missiles, and unmanned aerial systems (UAS) are examples of the dynamic threat environments that necessitate integrated air and missile defense solutions, of which MLRS systems might be a component. The need for MLRS capabilities is influenced by defense doctrines that place a high priority on deterrence, defense, and power projection.
Global Multiple Launch Rocket Systems (MLRS) Market Restraints
Several factors can act as restraints or challenges for the Multiple Launch Rocket Systems (MLRS) Market. These may include
Budget Restrictions Expenditure on MLRS upgrades or acquisitions may be restricted by economic downturns or decreased defense budgets in important markets.
Regulatory Obstacles Tight laws governing the transfer of technology and the export of weapons may restrict the global market for MLRS systems.
Technological Limitations The efficacy of current MLRS platforms may be diminished by developments in defense systems and countermeasures, requiring expensive upgrades or the creation of new technologies.
Political Aspects The capacity to export MLRS systems to particular areas or nations may be impacted by geopolitical unrest and diplomatic ties between nations.
Environmental rules Restrictions or heightened scrutiny may result from environmental rules and concerns regarding the ecological impact of utilizing MLRS systems in military exercises or training activities.
Operational Restrictions In remote or harsh areas, maintaining qualified staff, logistics support, and maintenance can be difficult for MLRS systems.
rivalry There may be pressure on prices and lower profit margins for MLRS systems as a result of fierce rivalry between defense contractors and manufacturers.
Fast technology Obsolescence Due to the military’s rapid technology progress, MLRS platforms can quickly become antiquated and need regular updates or replacements.
Global Security Environment The need for MLRS systems may decline or their capabilities and design may need to change as a result of changing military doctrines and shifting security threats.
Disruptions to the Supply Chain Production and delivery delays of MLRS systems might hinder market expansion. These delays can be caused by natural catastrophes, pandemics, or geopolitical events.
Global Multiple Launch Rocket Systems (MLRS) Market Segmentation Analysis
The Global Multiple Launch Rocket Systems (MLRS) Market is Segmented on the basis of Launch Vehicle, Caliber Range, Pod Capacity, And Geography.
Multiple Launch Rocket Systems (MLRS) Market, By Launch Vehicle
Tracked These MLRS are mounted on tracked vehicles, such as tanks, offering greater stability and off-road capabilities.
Wheeled Wheeled MLRS are more mobile and deployable on roads, but may have limitations on rough terrain.
Multiple Launch Rocket Systems (MLRS) Market, By Caliber Range
70-180mm These MLRS are typically lighter and more mobile, firing rockets for shorter-range attacks or area saturation.
180-300mm This category encompasses heavier MLRS with longer-range capabilities and more powerful rockets.
Multiple Launch Rocket Systems (MLRS) Market, By Pod Capacity
Up to 16 rockets These MLRS are generally lighter and more agile, suited for rapid deployments.
16 to 40 rockets MLRS with larger pod capacities can deliver more firepower in a single salvo.
Multiple Launch Rocket Systems (MLRS) Market, By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Multiple Launch Rocket Systems (MLRS) Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Multiple Launch Rocket Systems (MLRS) Market are
Lockheed Martin (US)
Roketsan (Turkey)
NPO Splav (Russia)
Elbit Systems (Israel)
Avibras Industria Aeroespacial (Brazil)
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Lockheed Martin (US), Roketsan (Turkey), NPO Splav (Russia), Elbit Systems (Israel), Avibras Industria Aeroespacial (Brazil)
SEGMENTS COVERED
By Launch Vehicle, By Caliber Range, By Pod Capacity, And By Geography.
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