Multiple Launch Rocket Systems (MLRS) Market to Grow with a CAGR of 5.8% through 2030
The
multiple launch rocket systems (MLRS) market is driven due to modernization
efforts, increasing demand for long-range precision systems, and technological
advancements
According to
TechSci Research report, “Multiple Launch Rocket Systems (MLRS) Market -
Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F”, the
global multiple launch rocket systems (MLRS) market was
valued at USD 843.17 Million in 2024 and is expected to reach USD 1,182.58 Million
by 2030 with a CAGR of 5.8% during the forecast period. The Multiple Launch
Rocket Systems (MLRS) market is experiencing unprecedented growth as nations
worldwide prioritize military modernization and advanced artillery
capabilities. Rising geopolitical tensions and the need for long-range
precision engagement drive the market forward. While North America maintains
its dominance due to substantial defense budgets and R&D efforts, the
Asia-Pacific region emerges as the fastest-growing market, fuelled by
increasing defense expenditures and regional conflicts. Technological
advancements, including AI-powered targeting systems and guided munitions, are
transforming MLRS platforms, enabling greater precision and operational
efficiency. However, challenges such as high costs, export restrictions, and
operational complexities remain significant hurdles. Despite these obstacles,
the market is poised for sustained growth, supported by strategic
collaborations and innovative product developments.
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market data Figures spread through xx Pages and an in-depth TOC on
"Global Multiple Launch Rocket Systems (MLRS) Market.”
The Multiple
Launch Rocket Systems (MLRS) Market is segmented into launch vehicle, caliber type, range and region.
Based on caliber
type, the 70-180 mm caliber range is emerging as the fastest-growing segment in
the Multiple Launch Rocket Systems (MLRS) market, driven by its adaptability to
modern tactical requirements and its ability to cater to rapid-deployment
scenarios. These smaller-caliber systems are specifically designed to provide a
balance between mobility, affordability, and firepower, making them highly
appealing to militaries worldwide. Smaller-caliber MLRS platforms in the 70-180
mm range are well-suited for tactical operations that demand quick response and
precision. They offer effective firepower while maintaining a compact and
lightweight design, enabling easier transportation and deployment compared to
larger-caliber systems. These systems are particularly advantageous in urban
warfare and border defense scenarios, where mobility and agility are critical. One
of the primary drivers of growth in this segment is its cost-effectiveness. The
70-180 mm caliber rockets are less expensive to manufacture, procure, and
maintain, allowing nations with limited defense budgets to enhance their
artillery capabilities without significant financial strain. Additionally,
their reduced size and weight facilitate rapid deployment in high-pressure
situations, such as counter-insurgency operations and peacekeeping missions.
Based on region,
the Asia-Pacific region is the fastest-growing MLRS market, driven by
increasing defense expenditures and rising geopolitical tensions. Countries
such as China, India, and South Korea are at the forefront of this growth,
making significant investments in developing and procuring advanced MLRS
platforms. China's emphasis on modernizing its military capabilities has
resulted in the deployment of sophisticated systems like the PHL-03 and its
upgraded variants. Similarly, India is enhancing its artillery strength through
the indigenous development of platforms like the Pinaka MLRS, showcasing its
commitment to self-reliance in defense production. South Korea’s K239 Chunmoo,
designed for multi-caliber compatibility, highlights the region's focus on
versatile and high-performance systems. Regional conflicts, border disputes,
and the growing threat of asymmetric warfare are key factors driving the demand
for advanced MLRS systems in Asia-Pacific. The region's focus on indigenous
manufacturing capabilities, coupled with rising defense budgets, accelerates
the market's expansion.
Major companies
operating in the global multiple launch rocket systems (MLRS) market are:
- 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.
- Tata Advanced Systems Limited (Tata Sons Private
Limited)
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“A key trend in
the multiple launch rocket systems (MLRS) market is collaborative efforts between defense
manufacturers, government agencies, and research institutions are driving
innovation in the MLRS market. Joint ventures and partnerships are particularly
effective in addressing the complex technical challenges associated with
next-generation MLRS systems, such as extended-range capabilities, enhanced
targeting accuracy, and reduced environmental impact. These collaborative
efforts are reshaping the competitive landscape of the MLRS market, fostering
innovation and enabling the development of cutting-edge systems that address
the evolving demands of modern warfare. As global security challenges continue to
evolve, the role of partnerships in advancing MLRS technologies is expected to
grow, driving sustained market growth. “Said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
"Multiple Launch Rocket
Systems (MLRS) Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Launch Vehicle (Tracked, Wheeled), By Caliber Type (70-180 mm, 180-300 mm), By Range (10-100 km,
100-300 km), By Region, & Competition, 2020-2030F”,
has evaluated the future growth potential of global multiple launch rocket
systems (MLRS) market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global multiple launch
rocket systems (MLRS) market.
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