The global multiple launch rocket systems (MLRS) market grew at a CAGR of around 6% during 2014-2019. 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. Looking forward, the publisher expects the global multiple launch rocket systems (MLRS) market to continue its moderate growth during the next five years.
The report has also analysed the competitive landscape of the market with some of the key players being Avibras Industria Aeroespacial, BAE Systems Plc, Denel Land Systems (Denel SOC Ltd.), Diehl Defence GmbH & Co. KG (Diehl Stiftung & Co. KG), Hanwha Corporation, IMI Systems Ltd. (Elbit Systems Ltd.), Larsen & Toubro Limited, Lockheed Martin Corporation, Roketsan Roket Sanayii ve Ticaret A.S. and Tata Advanced Systems Limited (Tata Sons Private Limited).
Key Questions Answered in This Report:
How has the global multiple launch rocket systems (MLRS) market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global multiple launch rocket systems (MLRS) market?
What are the key regional markets?
What is the breakup of the market based on the launch vehicle?
What is the breakup of the market based on the caliber type?
What is the breakup of the market based on the range?
What is the breakup of the market based on the pod capacity?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global multiple launch rocket systems (MLRS) market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Multiple Launch Rocket Systems (MLRS) Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast