Dublin, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The "Turret System Market by Platform (Land, Airborne, Naval), Type (Manned, Unmanned), Component (Turret Drive, Turret Control System, Stabilization Unit), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The turret system market is projected to grow from USD 19.7 billion in 2022 to USD 22.6 billion by 2027, registering a CAGR of 2.8% The market is driven by the increasing demand for turret systems for armored vehicles to tackle cross-border conflicts and the rising incidence of asymmetric warfare across the globe.
Key players in the turret system market include Moog Inc. (US), Elbit System (Israel), Northrop Grumman Corporation (US), BAE Systems (UK), Lockheed Martin Corporation (US), Rheinmetall AG (Germany), Rafael Advanced Systems Ltd. (Israel), among others. The report covers various industry trends and new technological innovations in the turret system market for 2018-2027.
Land: dominant segment of turret system market by platform.
Based on platform, the turret system market has been segmented into land, airborne, and naval. The land segment is projected to grow at the highest CAGR during the forecast period.
Unmanned: fastest-growing segment of turret system market by type.
Based on type, the turret system market has been segmented into manned and unmanned. The unmanned segment is projected to grow at a higher CAGR than the manned segment during the forecast period. This is attributed to its wide applicability and ease of operation on all platforms.
Turret drive: leading and fastest-growing segment of turret system market by component.
Based on component, the market has been segmented into turret drive, turret control system, and stabilization unit. The turret drive segment is projected to lead the turret system market during the forecast period.
North America: largest contributing region in the turret system market.
The North American turret system market is projected to witness remarkable growth during the forecast period. The region is increasingly focusing on procuring technologically advanced turret systems for land combat vehicles, owing to their growing deployment in overseas operations undertaken by countries such as the US.
The presence of many turret systems and component manufacturers in the country will further fuel the market growth. The US is one of the largest developers, operators, and exporters of turret systems globally, making the North American region one of the largest consumers of turret systems.
Competitive landscape
Major companies profiled in the report are Moog Inc. (US), Elbit System (Israel), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Rafael Advanced System Ltd. (Israel), and Rheinmetall AG (Germany), among others. (26 Companies)
Company Profiles
- Aselsan As
- Bae Systems
- Cmi Group
- Control Solutions
- Curtiss Wright
- Denel Soc
- Elbit Systems Ltd.
- General Dynamics Corporation
- Hyundai Motor Company
- Jenoptik
- Kongsberg Gruppen
- Leonardo S.P.A
- Lockheed Martin Corporation
- Moog
- Nexter Group
- Northrop Grumman Corp.
- Oshkosh Corp.
- Otokar
- Rafael Advanced Defense System
- Raytheon Technologies
- Rheinmetall AG
- Saab Ab
- St Engineering
- Textron Inc.
- Thales Group
- Woodward Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Turret System Market
4.2 Turret System Market, by Platform
4.3 Turret System Market, by Type
4.4 Turret System Market, by Component
4.5 Turret System Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Technology Analysis
5.4 Average Selling Price Trend
5.5 Market Ecosystem Map
5.6 Value Chain Analysis
5.7 Patent Analysis
5.8 Case Study Analysis
5.9 Trade Data Statistics
5.10 Porter's Five Forces Analysis
5.11 Tariff and Regulatory Landscape
5.11.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.12 Key Stakeholders & Buying Criteria
5.13 Conferences and Events
5.14 Pricing Analysis
5.14.1 Average Selling Prices of Systems Offered by Key Players
5.15 Operatonal Data
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.3 Key Trend Analysis
6.4 Impact of Mega Trends
7 Turret System Market, by Platform
7.1 Introduction
7.2 Land
7.2.1 Mobile/Vehicular
7.2.2.1 Main Battle Tanks (Mbt)
7.2.2.2 Infantry Fighting Vehicles (Ifv)
7.2.2.3 Armored Personnel Carriers (Apc)
7.2.2.4 Mine-Resistant Ambush Protected Vehicles (Mrap)
7.2.2.5 Armored Amphibious Vehicles (Aav)
7.2.2.6 Light Armored Vehicles (Lav)
7.2.2.7 Self-Propelled Howitzers (Sphs)
7.2.2.8 Air Defense Vehicles
7.2.2.9 Armored Mortar Carriers
7.2.2 Fixed/Stationary
7.2.1 Remotely Controlled Weapon Stations (Rws)
7.2.2 Air-Defense Guns
7.2.3 Mortars
7.3 Airborne
7.3.1 Attack Helicopters
7.3.2 Fighter Aircrafts
7.3.3 Special Mission Aircrafts
7.3.4 Unmanned Aerial Vehicles (UAVs)
7.4 Naval
7.4.1 Destroyers
7.4.2 Frigates
7.4.3 Offshore Support Vessels (Osvs)
7.4.4 Corvettes
7.4.5 Patrol & Mine Countermeasure Vessels
7.4.6 Amphibious Vessels
7.4.7 Submarines
7.4.8 Unmanned Surface Vehicles (Usvs)
8 Turret System Market, by Type
8.1 Introduction
8.2 Manned
8.3 Unmanned
9 Turret System Market, by Component
9.1 Introduction
9.2 Turret Drive
9.2.1 Manual
9.2.2 Electric
9.2.3 Electro-Mechanical
9.2.4 Electro-Hydraulic
9.3 Turret Control System
9.3.1 Motor Controller
9.3.2 Power Unit
9.3.3 Others
9.4 Stabilization Unit
10 Regional Analysis
10.1 Introduction
10.2 PESTLE Analysis
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.3 Market Share Analysis
11.4 Company Product Footprint Analysis
11.5 Company Evaluation Quadrant
11.6 SMEs/Startups Matrix
11.6.1 Competitive Benchmarking
11.7 Revenue Analysis of Top Five Market Players
11.8 Competitive Scenario
11.9 Competitive Leadership Mapping
For more information about this report visit https://www.researchandmarkets.com/r/f9u4sh
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