Global Multiple Launch Rocket Systems (MLRS) Market to Reach US$ 1,240.4 Million by 2032, Propelled by Rising Investments in Artillery Modernization

December 05, 2022 | Aerospace and Defense

According to the latest report by IMARC Group, titled “Multiple Launch Rocket Systems (MLRS) Market Report by Launch Vehicle (Tracked, Wheeled), Caliber Type (70-180 mm, 180-300 mm), Range (10-100 km, 100-300 km), Pod Capacity (Upto 16, More Than 16), and Region 2024-2032”, the global multiple launch rocket systems (MLRS) market size reached US$ 732.3 Million in 2023. Multiple-launch rocket system (MLRS) refers to a type of artillery weapon designed for delivering large quantities of indirect fire quickly and accurately. It enables surface-to-surface guided rockets and missiles to be fired from launcher platforms belonging to the M270 family. This launcher is mounted on a stretched chassis and is equipped with a fire control computer, and a vehicle control and rocket launching system are integrated into the computer. As a result of their ability to provide large amounts of fire over a very short period of time, MLRS systems are essential for saturating an area with firepower in a timely manner and overwhelming enemy defenses. The MLRS launcher is highly automated and self-aimed that supports and delivers basic and extended-range rockets (ER-MLRS) as well as Block I missiles from the Army Tactical Missile System (ATACMS).

Global Multiple Launch Rocket Systems (MLRS) Market Trends:

The global market is majorly driven by considerable growth in the aerospace and defense industry. This can be attributed to the growing incidences of cross-border conflicts and geopolitical tensions across the globe. In line with this, the rising investments by government bodies of several countries in cutting-edge weaponry, artillery modernization programs, and the acquisition of new systems to enhance their military strength are resulting in a higher product uptake. Moreover, the advent of guided MLRS using global positioning system (GPS) and inertial guidance package to enhance long-range positioning accuracy is also impacting the market positively. Besides this, the shifting preference toward guided munitions over unguided rocket artillery is providing a boost to the MLRS sales on the global level. The market is further propelled by continual technological advancements, such as the adoption of sophisticated MLRS utilizing radar data and one-way radio datalink for initiating a two-dimensional correction of the rocket flight path. Some of the other factors contributing to the market include rapid industrialization, growing investments for improvements in military infrastructure, innovations in the manufacturing processes and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,240.4 Million by 2032, exhibiting a CAGR of 5.8% during 2024-2032.

Market Summary:

Based on the launch vehicle, the market has been segmented into tracked and wheeled.
On the basis of the caliber type, the market has been divided into 70-180 mm and 180-300mm.
On the basis of the range, the market has been bifurcated into 10-100 km and 100-300 km.
Based on the pod capacity, the market has been categorized into upto 16 and more than 16.
On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Avibrás Indústria 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).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Launch Vehicle, Caliber Type, Range, Pod Capacity, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Avibrás Indústria 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)
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Global Multiple Launch Rocket Systems (MLRS) Market to Reach US$ 1,240.4 Million by 2032, Propelled by Rising Investments in Artillery Modernization

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