Global Multiple Launch Rocket Systems Market 2016-2020

Overview of the global multiple launch rocket systems (MLRS) market

Technavio’s market research analyst predicts the global multiple launch rocket systems (MLRS) market to grow moderately at a CAGR of more than 3% between 2016 and 2020. With the constantly changing warfare strategies coupled with the rising security threats especially at the borders, most of the countries across the globe are highly focusing on the procurement of MLRS. MLRS is not only cost-effective compared with other artillery systems but also has features such as high precision and accuracy in striking targets, incurs low collateral damage in urban areas, and requires low maintenance. MLRS has wide implementation by armies of the US, the UK, Greece, Germany, Norway, Denmark, Netherlands, France, Italy, and Turkey. These nations constantly look for innovations and modifications by altering their tactical parameter such as operational range to improve their defense and strike capabilities. The growing need to increase the maximum range of fire, accuracy, and target range with various warheads is driving the demand for modernization in the MLRS market. Governments of countries across the world have initiated several modernization programs to improve these tactical parameters, resulting in positive growth of the market during the forecast period.

One of the latest trends that this market is witnessing is the growing focus towards the development of long-range MLRS.  At present, several prime defense contractors are aiming to manufacture long-range MLRS for effective and improved guidance that enables rockets to strike targets up to a distance of 120 miles. For instance, the Indian Army is developing a new long-range MLRS, which is expected to have newly-designed launcher systems and rockets that will offer an operational range beyond 75 miles. Also, the Royal Artillery of the British Army's newest long-range precision land attack rocket is GPS-guided rockets, integrated with latest advanced computer technology.

Competitive landscape and key vendors

The global MLRS market is extremely competitive, where vendors compete on the basis of cost, product quality, reliability, and aftermarket service. To sustain themselves in the intense market scenario, it is crucial for the vendors to offer cost-effective and high-quality interceptors, integrated with the latest technologies. Avibras, Denel Land Systems, Lockheed Martin, and Roketsan are the major vendors in the MLRS market who have a competitive edge over other players in te market in terms of in-house manufacturing capabilities, product offerings, global presence, R&D investments, newer technologies, and strong consumer base. These vendors focus primarily on the implementation of lightweight materials, electric technologies, and robust systems.

Leading vendors in the market are -

• Avibras
• Denel Land Systems
• Lockheed Martin
• Roketsan

Other prominent vendors in the MLRS market include Diehl Defence, BAE Systems, Splav State Research and Production Association, and Norinco.

Segmentation by product type and analysis of the MLRS market

• Wheeled MLRS
• Tracked MLRS

The wheel-based MLRS segment occupies the largest share in the market and will continue its dominance throughout the forecast period, owing to a rapid shift from tracked to wheeled platforms to develop MLRS. Wheel-based MLRS are gaining traction due to their greater mobility and lighter weight, which improves combat capabilities in the battlefield. Moreover, these wheeled systems need less operational and maintenance costs and have an extended service life. Observing these benefits, several countries are making huge investments in developing and purchasing wheeled MLRS, which will positively contribute to the further growth of this segment in the coming years.

Geographical segmentation and analysis of the MLRS market

• Americas
• APAC
• EMEA

In terms of geographical segmentation, EMEA is expected to register the highest growth rate during the forecast period. The growing requirement for MLRS by the Middle Eastern countries such as Saudi Arabia, the UAE, Turkey, and Iran, other nations such as Russia, Ukraine, Kazakhstan, and Yemen, and African countries to improve the military capabilities is driving the growth of the market. The surge in investments and exchange programs small economy countries such as Croatia, Belarus, and Kazakhstan will also boost the growth prospects for this market in the EMEA over the next four years.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global MLRS market?
• What are the key market trends impacting the growth of the global MLRS market?
• What are the challenges to market growth?
• Who are the key vendors in the global MLRS market?
• What are the market opportunities and threats faced by the vendors in the global MLRS market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global MLRS market?

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