Global Multiple Launch Rocket Systems (MLRS) Market to Reach $954.1 Million by 2027 at a CAGR of 6.94%

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Oct 11, 2022, 07:00 ET

DUBLIN, Oct. 11, 2022 /PRNewswire/ -- The "Multiple Launch Rocket Systems (MLRS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global multiple launch rocket systems (MLRS) market size reached US$ 637.8 Million in 2021. Looking forward, the publisher expects the market to reach US$ 954.1 Million by 2027, exhibiting a CAGR of 6.94% during 2021-2027.

A multiple launch rocket system (MLRS) is a versatile automatic weapon used to fire guided rockets and missiles. The launcher is mounted on stretched chassis and comprises a fire control computer. MLRS delivers a large firepower volume to strike long-range and high payloads at all depths of the tactical battlefield. At present, modern wheeled systems, which are lightweight and have high mobility and speed compared to tracked systems, are gaining traction in the defense and military sector worldwide.

The rising cross-border tensions between various countries, in confluence with the increasing funding for advanced weapons by several governing agencies, represents one of the key factors bolstering the market growth. These agencies are also spending on artillery modernization programs and the acquisition of new systems.

Apart from this, the growing popularity of guided ammunition over unguided rocket artillery is positively influencing the sales of MLRS. Furthermore, the introduction of guided MLRS that relies on the global positioning system (GPS) and inertial guidance package to enhance positioning accuracy and fire from dispersed positions at a single target is strengthening the market growth. It also helps in reducing logistics load, chances of collateral damage and fratricide, while increasing the effective range of the MLRS rocket. Moreover, the development of a more sophisticated MLRS that uses radar data and one-way radio datalink to initiate a two-dimensional correction of the rocket flight path is anticipated to drive the market in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global multiple launch rocket systems (MLRS) market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Multiple Launch Rocket Systems (MLRS) Market

6 Market Breakup by Launch Vehicle

7 Market Breakup by Caliber Type

8 Market Breakup by Range

9 Market Breakup by Pod Capacity

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

Companies Mentioned