Multiple Launch Rocket Systems (MLRS) Global Strategic Research 2024-2030: Wars in Eastern Europe, the Middle East, and Asia Driving the Need for More Sophisticated and Powerful Rocket Artillery - ResearchAndMarkets.com

Barchart · 10/17 13:07

The "Multiple Launch Rocket Systems (MLRS) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Multiple Launch Rocket Systems (MLRS) was estimated at US$1.0 Billion in 2023 and is projected to reach US$1.4 Billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Versatility, mobility, and power make MLRS a critical component in modern military operations, particularly in open battlefield environments where quick, devastating strikes are essential.

The growth in the multiple launch rocket systems market is driven by several factors, including technological advancements, defense modernization programs, and shifting geopolitical dynamics. The demand for longer-range, precision-guided MLRS systems is increasing as military forces prioritize highly accurate, low-collateral damage strikes.

Moreover, the rising global tensions and conflicts, particularly in Eastern Europe and the Asia-Pacific, are prompting nations to bolster their artillery capabilities, leading to more investments in advanced MLRS. Additionally, the focus on modularity and flexibility in military operations is driving the development of systems capable of firing various munitions, including guided rockets and missiles. The integration of advanced targeting and automation technologies is further fueling market growth, as these innovations improve the effectiveness and efficiency of MLRS systems in modern combat environments.

How Are Technological Advancements Shaping MLRS Development?

Technological innovations are driving significant advancements in MLRS systems, particularly in terms of precision, range, and automation. The integration of GPS and satellite navigation has greatly improved the accuracy of MLRS strikes, enabling forces to hit targets with greater precision, even from longer distances.

Advances in rocket propulsion systems have extended the range of MLRS, allowing for strikes deep within enemy territory. Automation and digital fire control systems have also reduced the response time and improved the coordination of attacks, making these systems more effective in high-stress combat situations. Additionally, the development of modular MLRS platforms that can switch between different types of munitions is enhancing their operational flexibility, allowing military units to adapt to changing battlefield conditions quickly.

How Are Shifting Defense Priorities Impacting the MLRS Market?

As global defense strategies shift toward modernizing artillery capabilities, the demand for advanced MLRS systems is rising. Countries are increasingly focusing on enhancing their long-range strike capabilities to deter potential threats and improve rapid-response effectiveness. The ongoing conflicts and geopolitical tensions in regions like Eastern Europe, the Middle East, and Asia are further driving the need for more sophisticated and powerful rocket artillery.

Additionally, the shift toward joint military operations, where multiple branches of armed forces must coordinate strikes, is increasing the need for integrated, networked MLRS systems that can communicate with other units and platforms. Furthermore, the emphasis on minimizing collateral damage and reducing civilian casualties is pushing the development of precision-guided munitions for MLRS, which is becoming a key driver in the market.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Wheeled Launch Vehicle segment, which is expected to reach US$959.0 Million by 2030 with a CAGR of a 5.3%. The Tracked Launch Vehicle segment is also set to grow at 3.8% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, which was valued at $275.9 Million in 2023, and China, forecasted to grow at an impressive 4.5% CAGR to reach $221.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Avibras Industria Aeroespacial S/A, BAE Systems PLC, Hanwha Corporation, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Report Attribute Details
No. of Pages 246
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $1 Billion
Forecasted Market Value (USD) by 2030 $1.4 Billion
Compound Annual Growth Rate 4.8%
Regions Covered Global

Key Topics Covered:

MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Global Economic Update
  • Multiple Launch Rocket Systems (MLRS) - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

  • Rising Focus on Modernizing Military Artillery Drives Demand for Multiple Launch Rocket Systems (MLRS)
  • Increasing Investments in Defense Modernization Programs Expands Addressable Market for MLRS
  • Growth in Regional Conflicts and Border Tensions Fuels Demand for Advanced MLRS Systems
  • Technological Advancements in Precision-Guided Munitions Strengthen Business Case for MLRS in Modern Warfare
  • Rising Adoption of MLRS in Ground-Based Air Defense Systems Expands Market Opportunities
  • Increasing Focus on Enhancing Mobility and Range of Artillery Units Propels Growth in MLRS Development
  • Growth in Joint Military Exercises and Alliances Strengthens Demand for Interoperable MLRS Systems
  • Rising Importance of Rapid Response and Firepower in Modern Combat Fuels Adoption of MLRS Solutions
  • Expansion of Autonomous and Unmanned Artillery Systems Creates Opportunities for MLRS Innovations
  • Increasing Role of MLRS in Anti-Armor and Anti-Ship Missions Expands Market for Advanced Rockets and Missiles
  • Rising Emphasis on Force Multiplication and Network-Centric Warfare Drives Adoption of MLRS in Military Strategies

FOCUS ON SELECT PLAYERS (Total 46 Featured)

  • Avibras Industria Aeroespacial S/A
  • BAE Systems PLC
  • Hanwha Corporation
  • Imi Systems Ltd.
  • Larsen & Toubro Ltd.
  • Lockheed Martin Corporation
  • Norinco Group
  • Roketsan A.S.
  • The Tata Power Company Limited (Strategic Engineering Division)

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