Multiple Launch Rocket Systems Market Growth Analysis | 2023-2028

Market Insights

The multiple launch rocket systems market was estimated at USD 714.52 million in 2023 and is likely to grow at a CAGR of 7.48% during 2024-2030 to reach USD 1188.17 million in 2030.

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Market Dynamics

Introduction

Multiple launch rocket systems are rocket artillery systems that are larger in size than the other multiple warheads. Multiple launch rocket systems can be tracked or wheeled. They are available in different caliber types and different pod capacity types.

Market Drivers

The major factors driving the growth of the multiple launch rocket systems market are:

• A rise in expenditure on artillery modernization agenda.
• The acquisition of new MLRS systems.

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Key Players

Some of the major players in the market are:

• Avibras Indústria Aeroespacial S.A.
• BAE Systems PLC
• Hanwha Corporation
• IMI Systems
• Lockheed Martin Corporation
• Norinco Group
• NPO Splav
• Roketsan
• Tata Power SED

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Launch Vehicle Type

Based on the launch vehicle type, the market is segmented as tracked and wheeled. The tracked segment is estimated to register a higher growth during the forecast period. Factors such as the military artillery upgrade agenda and new system acquisitions are expected to boost the market.

By Caliber Type

Based on the caliber type, the market is segmented as 70-180 mm and 180-300 mm. The 180-300 mm segment is projected to depict a higher growth during the forecast period. The growth of this segment is owing to an increase in the number of long-range multiple launch rocket systems globally and the replacement of traditional systems with MLRS systems with guided ammunition.

By Range Type

Based on the range type, the market is segmented as 10-100 Km and 100-300 Km. The 100-300 km range segment is expected to lead the market during the forecast period, driven by the rise in procurement and indigenous development of long-range rocket launchers across the globe.

Regional Insights

In terms of regions, North America, particularly the US, held the largest share of the market in 2023, followed by Europe and Asia-Pacific. The dominance of the US is predominantly owing to the mounting artillery modernization agendas and everchanging focus on high mobility, lightweight artillery systems. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects multiple launch rocket systems market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The multiple launch rocket systems market is segmented into the following categories.

By Launch Vehicle Type

• Tracked
• Wheeled

By Caliber Type

• 70-180 mm
• 180-300 mm

By Pod Capacity Type

• Up to 16
• 16 to 40

By Range Type

• 10-100 Km
• 100-300 Km

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the launch vehicle types by range type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].