The global mutiple launch rocket systems market was valued around $343 million in 2015 and is expected to surpass $401 million by 2020, says Technavio.
Technavio has announced its latest market research report on multiple launch rocket system to its defense portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global multiple launch rocket system market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Avibras, Denel Land Systems, Lockheed Martin, and Roketsan.
In terms of geographical analysis, APAC will be the fastest growing region in the global market, reaching revenues of around $139 million by 2020. China and India will emerge as the key revenue-generators due to the increasing investments in MLRS by these countries, owing to their land and marine security.
“One of the major trends gaining traction in this market is the development of long-range MLRS. Various defense contractors are focusing on developing long-range MLRs for effective and improved guidance which permits rockets to strike targets up to a distance of 120 miles. The British Army’s newest long-range precision, the Royal Artillery land attack rocket, is in use in Afghanistan. Along with GPS guided rockets that are integrated with latest advanced computer technology, this long range precision has been located in several locations in the rgeion,” says Moutushi Saha, a lead analyst at Technavio for research on defense.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growing warfare in urban areas
There has been a huge change in the warfare strategies of several countries, owing to the growing positioning of troops in the urban areas. Off late, the urban locality has witnessed the entry of huge number of extremist groups that are establishing bases to take advantage of its infrastructural advantages such as power grid, communication systems, rail, and road and port connectivity. To keep these extremists away and control the militant activities, various nations are deploying rocket launchers in the affected nations to assist target demolition. For instance, the Russian government has deployed TOS-1 Buratino MLRS to help the Syrian government fight against rebels. Besides this, other examples of armed conflicts among nations include the Lebanon conflict, turmoil in Russia and Ukraine over Crimea, Indo-Pak conflict over Kashmir, and the conflicts between the US and North Korea. Such increase in tensions across borders and between countries is expected to lead to an increase in the demand for MLRS.
Development of MLRS by small economies
Owing to the growing demand from smaller countries, there is a significant development in the MLRS market. With enhanced munitions and their effectiveness, the countries are continuously investing in land warfare systems. Artillery systems such as MLRs have gained popularity in countries such as Kazakhstan and Croatia due to its property of being both offensive and defensive weapon that can fire short-range to long-range surface-to-air rockets. In 2015, due to the budget constraints of Croatia, it referred to the US Pentagon for a donation of 16 M270 MLRS from the US military surplus as a replacement for aging Soviet and Yugoslav legacy systems. Similarly, in Kazakhstan MLRs will be deployed on either side of the cab that would provide self-protection for the launcher. As a part of the modernization program, the MLRS will be installed with Tuspal satellite navigation unit with GPS, temperature sensor, auxiliary power unit, Lira inertial navigation system (INS), thermal camera, electronic control unit, and Global Navigation Satellite System (GNSS) compatibility.
Development and modernization of rocket systems
The demand for modernization is driven by the need to increase maximum range of fire, accuracy, and target range with various warheads. Various modernization programs were introduced by the government to improve these tactical parameters. The list of rockets and launching systems being modernized include M26 rockets for MLRS, 122-mm rocket launcher (RM M70), 122 mm JROF rocket, and CRV7 rocket.
Some of the other prominent vendors identified in this report are Diehl Defence, BAE Systems, Splav State Research and Production Association, and Norinco.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Multiple Launch Rocket Systems Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Satellite Manufacturing and Launch Market 2016-2020
- Global Anti-Tank Missile System Market 2016-2020
- Global Intercontinental Ballistic Missile Market 2016-2020
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