Below are some of the key findings from this turret system industry analysis report
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Factors such as the increasing demand for turret gun systems from military forces, overhauling of the existing warfare platforms with advanced technology, and military modernization programs in several countries are expected to drive the growth of the turret system market during the forecast period. To counter growing terrorist threats and the need to protect national borders, many countries are investing in technologically advanced weapon systems. This has resulted in the installation of high-tech fencing systems including automatic sensor-based guns, radars, and underground sensor systems along borders to control cross-border infiltration. Also, the growing usage of advanced technology turret gun systems in surveillance operations will be a crucial driver for its accelerating demand during the next five years. The growth momentum of the turret system market is expected to accelerate at a CAGR more than 6% during the forecast period.
Top turret system companies covered in this market research report
The global turret system market is moderately fragmented with the existence of companies competing for the significant market share. Since the market is in the growth phase and the level of competition will intensify during the forecast period. This turret system market study advises key strategies and recommends areas the companies should be focusing on to make the most of the upcoming growth opportunities.
The report covers detailed information on various leading companies, including:
- Curtiss-Wright
- Elbit Systems
- Lockheed Martin
- Rheinmetall
- Woodward
Turret system market segmentation based on product type
- Manned turret systems
- Unmanned turret systems
The manned turret system segment accounted for the largest turret system market growth during 2018. According to the report, the manned turret system will continue to dominate the market through the next five years since it provides self-protection, ground fire support, and attacking capabilities to the warship with an optimal balance between situational awareness and crew protection capabilities.
Turret system market segmentation based on geography
- APAC
- EMEA
- Americas
The EMEA region accounted for the largest turret system market share during 2018 owing to technological advancements and rising incidences of armed conflicts or war against terrorism. This region will witness an increase in its market share and remain the market leader during the forecast period.
Key highlights of the global turret system market for the forecast years 2018-2023:
- CAGR of the market during the forecast period 2018-2023
- Detailed information on factors that will accelerate the growth of the global turret system market during the next five years
- Precise estimation of the global turret system market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the global turret system industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on factors that will challenge the growth of global turret system companies
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