Multiple Launch Rocket Systems (MLRS) Market to Reach USD 994.5 Million by 2027 | CAGR 6.2% – Forencis Research

Multiple Launch Rocket Systems (MLRS) Market - Global Industry Analysis and Forecast 2020 to 2027

Global Multiple Launch Rocket Systems (MLRS) Market: Key Highlights

  • According to the new market research report Multiple Launch Rocket Systems (MLRS) Market by Launch Vehicle (Tracked, Wheeled), by Range Type (10 to 100 Km, 100 to 300 Km), by Pod Capacity (Up to 16 and 16 to 40), Caliber Type (70-180 mm and 180-300 mm), by Application (Space Simulation, Rocket Launch and Other), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Multiple Launch Rocket Systems (MLRS) Market is estimated to reach USD 994.5 Million by 2027 at a CAGR of around 6.2% during the review period.
  • The Multiple Launch Rocket System (MLRS) is a highly mobile automatic system, which fires surface to surface rockets from the M270 family of launcher weapons platforms.
  • Moreover, these system is being consists of a self-loading launcher with an onboard fire control system (FCS). These may lead to boost the growth of the market in the forecast period.

Multiple Launch Rocket Systems (MLRS) Market

Global Multiple Launch Rocket Systems (MLRS) Market: Key Market Dynamics

  • With the rising demand for latest MRL Systems is witness to fuel the growth of the market in the forecast period. Whereas, the latest multiple launch rocket systems use modern land navigation such as GPS for quick and exacts positioning.
  • One of the major key concern of the multiple launch rocket systems (MLRS) Market is the rocket inaccuracy which may restraining factor for the growth of the market.
  • Increasing spending on artillery modernization programs is play as a key opportunities for the growth of the multiple launch rocket system market in the forecast period.

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Global Multiple Launch Rocket Systems (MLRS) Market: Regional Overview

  • North America:

The region is witness to create a major role of the adoption of the market in the forecast period. Also, the US and Canada being the major economies of the region, spend significant amount of the GDP on the military and defense. However, the growing technological advancements, rising government initiatives, as well as the investments in the United States is one the major reason for the market growth Hence, these trend will create a significant opportunities for the growth of the market in the region.

  • Asia-Pacific:

The Asia-Pacific is projected will create a significant growth with advancements and developments in the field of battlefield management for getting the tactical communications. Moreover, Pinaka is a multi-launch rocket system (MLRS) which is being used by the Indian Army. This has been developed by the Defense Research and Development Organization (DRDO) to replace the BM-21 Grad multiple rocket launcher systems of the Indian Army. However, the China’s WS-2 is a 400mm guided MLRS which has been designed and manufactured by China. These is a latest rocket system with has been characterized by long-range fast response as well as the easy operation and maintenance.

Global Multiple Launch Rocket Systems (MLRS) Market: Key Players Overview

  • Lockheed Martin Corporation:

Lockheed Martin Corporation is an American aerospace, arms, security, defense and advanced technologies company. In 2020, the company has received a contract of worth USD 226 Million to recapitalize Multiple Launch Rocket System M270 launchers. Also, the company in the partnership with the Red River Army Depot will lead to advance and overhaul the M270s as a zero-time launchers with brand new engines, the new Common Fire Control System (CFCS) as well as the enhance armored cabs which will helps to offers a compatibility with MLRS Family of Munitions (MFOM).

  • Avibras Indústria Aeroespacial S/A:

Avibras Indústria Aeroespacial is a diversified Brazilian company, which designs, develops as well as manufactures defense products and services. Whereas, the company provide the accessories such as naval, aircraft, antiaircraft, tank, coast, and field artillery products. Moreover, Avibras also design, develop and produce rockets as well as missiles for space research and for military applications.

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