Multiple Launch Rocket Systems Market by Pod Capacity, Range, Caliber, Launch Vehicle, End User, and Region – Global Market Size Estimation, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2029
Overview
Global Multiple Launch Rocket Systems Market size was valued at US$ 760.3 Mn. in 2022 and the total revenue is expected to grow at 6.2 % through 2023 to 2029, reaching nearly US$ 1158 Mn.
Global Multiple Launch Rocket Systems Market Overview:
Since the inception of the era of modern warfare, Rockets have played a crucial role in the battlefields. Rockets are used to destroy targets from a long distance saving the fuel required for the travel and lives of soldiers. The importance of the rockets and the rising demand to fire multiple rockets at a time for increasing the destruction of the enemy bases has resulted in a rise in the use of Multi barrel rocket launch systems. Multiple Launch Rocket Systems is machinery that holds the capacity to fire multiple rockets simultaneously with precision. An increase in the demand for weapon systems with maximum destructive capacity by global defense forces has resulted in a growth in the Global Multiple Launch Rocket Systems Market.
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The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is Considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Global Multiple Launch Rocket Systems Market Dynamics:
Multiple Launch Rocket Systems are made by using alloys of rare metals that provide extra strength to the barrels. The presence of a strong barrel has resulted in the enhanced capability to fire multiple rockets and sustain the shock with minimum recoil velocity. The presence of low time intervals between successive firings has resulted in increased demand for Multiple Launch Rocket Systems by the Global defense sector.
The changes in warfare techniques and rising preference for guerilla warfare have resulted in a rise in demand for weapons that hold the capacity to cover a large area. Multiple Launch Rocket Systems holds the capacity to launch multiple rockets with precision at a rapid pace that counters the limitation of the conventional system of lock, load, and fire used for firing rockets. The ability to cover the maximum kill zone with precision has propelled the demand for Multiple Launch Rocket Systems.
Geographical conditions play a crucial role in deciding strategies and tactics to be used in war. The presence of tough weather conditions and limitations for heavy vehicles to reach complex geographical conditions has resulted in a rise in demand for weapons that holds long-range precision. An increase in the demand for weapons as an alternative for saving logistics and transportation costs has resulted in a rise in demand for Multiple Launch Rocket Systems.
An increase in the conflicts with the two global superpowers has resulted in a rise in the expenditure on modification and maintenance of the existing weapon assembly by the US. This has resulted in a granting of a contract worth US $ 214.7 Million in April 2021, to Lockheed Martin FC for modification and the modernization of the US Army’s Multiple Launch Rocket Systems that are brought back from Afghanistan. The adaption of withdrawal policy from the middle-east by the government of the US has forecasted an increase in the number of contracts granting for maintenance of Multiple Launch Rocket Systems.
An increase in the geopolitical conflicts with neighboring countries like China and Pakistan has resulted in a rise in the expenditure on research and development of advanced weapon systems by the government of India. One such Indian organization, DRDO, has announced the successful completion of the Pinaka Multiple Launch Rocket System on September 25, 2020. The rising preference for manufacturing a wholly developed weapon system for cost reduction and reduced burden on the country’s finances has resulted in a growth in establishing defense products manufacturing facilities by the developing countries.
The rising preference for multiple weapons launch assembly acts as the driving factor for the growth of the Global Multiple Launch Rocket Systems Market.
Restraints:
The High Maintenance Cost for keeping barrels ready for firing is the major restraining factor here. The Dual-use nature of this product is limiting the growth of the Global Multiple Launch Rocket Systems Market.
Segment Analysis:
By Pod Capacity, An increase in demand for medium-weight multi-barrel machinery has forecasted Up to 16 rocket holding capacity systems to dominate the Pod Capacity segment of the Multiple Launch Rocket System Market in the coming years. The rising preference for heavy bombarding machinery has resulted in a 3.6% increase in demand for rocket launch assembly having the capacity of 16-40 from 2015 through 2020 by the global defense sector.
By Range, Increased demand for a long-range rocket launchers have forecasted multi-barrel systems having a range of 100 Km – 300 Km to dominate the Range segment of the Global Multiple Launch Rocket Systems Market in the coming years. An increase in demand for rocket launchers to counter-insurgencies have resulted in a 2.1% increase in demand for Multiple Launch Rocket Systems having a range of 10 Km - 100 Km in the second decade of this century by the counter-insurgency and counter-terrorism departments of the developed nations.
By Caliber, The rising preference for advanced machinery with enhanced destructive capacity has forecasted artillery having width dimensions in the range of 180 mm – 300 mm to dominate the Caliber segment of the Global Multiple Launch Rocket Systems market. The presence of a low budget and rising demand for replacement of conventional ammunition with guided assembly weapons have resulted in a 3.5% increase in demand for artillery having a width of 70 mm - 180 mm in 2018 compared to the duration of 2015-2017 by underdeveloped and developing nations.
By Launch Vehicle, An increase in demand for mobile weapon systems have resulted in a 2.8% increase in demand for Wheeled multi-barrel rocket launchers from 2015 through 2020 by the defense sector of developed countries like the US, Israel, France, and Canada. The rising preference for self-loading and additional autonomous features like an upgrade in fire control systems have forecasted Tracked rocket launchers to dominate the Launch Vehicle segment of the Global Multiple Launch Rocket Systems in the coming years.
By End User, The growing demand for complete and ready-to-use weapon assembly has forecasted the Original Equipment Manufacturers to dominate the consumption of Multiple Launch Rocket Systems in the coming years. An increase in the number of players in the weapons manufacturing market doing the work of purchasing old machinery and refurbishing them with the purpose to sell them to underdeveloped and developing countries has resulted in a 6.3% increase in demand for Multiple Launch Rocket Systems by Ammunition Manufacturers in the second decade of this century.
The rising preference for establishing ordinance factories by the developing countries has resulted in a 4.3% increase in demand for Multiple Launch Rocket Systems from 2014 to 2018 by developing countries like India, South Korea, Brazil, and Vietnam.
Regional Insights
The presence of military bases around the world and rising conflict with countries like Iran and China has resulted in a 6.6% increase in demand for advanced launching vehicles like Multiple Launch Rocket Systems in the duration of 2016-2018 in North America.
The presence of a big defense manufacturing industry and rising defense budgets of countries like the UK, France, and Germany has resulted in a 4.3% increase in demand for Multiple Launch Rocket Systems in 2019 compared to the duration of 2015-2018 in Europe. An increase in the domestic insurgencies in eastern European countries like Ukraine have resulted in a 2.1% increase in demand for Multiple Launch Rocket Systems in the second decade of this century.
Rising border conflicts and increased demand for advanced weapon systems with high destruction, capacity has resulted in a 3.2% increase in demand for Multiple Launch Rocket Systems from 2015 through 2020 in the Asia-Pacific.
The Middle East and Africa’s market is showing a growth rate of 3% which is concentrated more in countries like Israel, Iran, Saudi Arabia and Jordan spend big amounts on their defense budgets. The South American market is showing a growth rate of 1.7% in the authorized weapon distribution market, the reason for which is the rising preference for multi-barrel high-caliber weapon systems by countries like Brazil and Venezuela.
The objective of the report is to present a comprehensive analysis of the global Multiple Launch Rocket Systems market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Multiple Launch Rocket Systems market dynamics, structure by analyzing the market segments and Project the global Multiple Launch Rocket Systems market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Multiple Launch Rocket Systems market make the report investor’s guide.
Global Multiple Launch Rocket Systems Market Scope: Inquire before buying
| Multiple Launch Rocket Systems Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 760.3 Mn. |
| Forecast Period 2023 to 2029 CAGR: | 6.2% | Market Size in 2029: | US $ 1158 Mn. |
| Segments Covered: | by Pod Capacity | Up to 16 16-40 |
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| by Range | 10 Km – 100 Km 100 Km – 300 Km |
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| by Caliber | 70 mm – 180 mm 180 mm – 300 mm |
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| by Launch Vehicle | Tracked Wheeled |
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| by End User | OEM Ammunition Manufacturers Defense Services |
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Global Multiple Launch Rocket Systems Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
South America (Brazil, Argetina and Rest of South America)
Global Multiple Launch Rocket Systems Market Key Players
1. Lockheed Martin Corporation
2. Arnold Defense
3. Northrop Grumman
4. NPO Splav
5. Roketsan AS
6. BAE Systems PLC
7. Diehl Defense GmbH & Co. KG
8. Hanwha Corporation
9. Avibras Industria Aeroespacial A/S
10. IMI Systems Ltd.
11. Norinco Group
12. The Tata Power Company Ltd.
13. L & T Ltd.
14. Denel Land Systems
15. Safran Group
FAQ’S:
1) What is the market share of the Global Multiple Launch Rocket Systems Market in 20222?
Answer: The Global Multiple Launch Rocket Systems Market was valued at US $ 760.3 Million in the year 2022.
2) Which is the dominating region for the Global Multiple Launch Rocket Systems Market?
Answer: The presence of a big military-based products manufacturing sector has resulted in making North America the biggest market for Multiple Launch Rocket Systems.
3) What are the opportunities for technological development in the Global Multiple Launch Rocket Systems Market?
Answer: The use of laser and heat-guided technology along with the use of AI-based technology are some of the opportunities for technological development in the Global Multiple Launch Rocket Systems Market.
4) Which factor acts as the driving factor for the growth of the Global Multiple Launch Rocket Systems Market?
Answer: The ability to launch multiple rockets simultaneously for increasing the impact of destruction acts as the major driving factor for the growth of the Global Multiple Launch Rocket Systems Market.
5) What factors are restraining the growth of the Global Multiple Launch Rocket Systems Market?
Answer: The rising preference by governments for manufacturing their artillery acts as the major restraining factor for the growth of the Global Multiple Launch Rocket Systems Market.