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Global NEWS: The multiple launch rocket systems market is projected to grow from an estimated USD 590.5 Million in 2017 to USD 797.4 Million by 2022, at a CAGR of 6.19% during the forecast period
According to the
new market research report "Multiple
Launch Rocket Systems (MLRS) Market by Launch Vehicle (Tracked, Wheeled),
Caliber Range (70-180mm, 180-300mm), Firing Range (10-100km, 100-300km), Pod
Capacity (Up to 16, 16 to 40), and Region - Global Forecast to 2022",
The multiple launch rocket systems market is projected to grow from an
estimated USD 590.5 Million in 2017 to USD 797.4 Million by 2022, at a CAGR of
6.19% during the forecast period. Increasing spending on artillery improvement
and acquisition of new systems by countries such as Poland and Finland are
expected to drive the multiple launch rocket systems market during the forecast
period.
Browse 122 Market Data Tables and 24
Figures spread through 127 Pages and in-depth TOC on "Multiple Launch
Rocket Systems (MLRS) Market - Global Forecast to 2022"
https://www.marketsandmarkets.com/Market-Reports/multiple-launch-rocket-system-market-189829734.html
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Based on launch
vehicle, the wheeled multiple launch rocket system segment is estimated lead
the market during the forecast period.
Wheeled systems
have greater mobility and speed as compared to tracked systems. The new wheeled
systems are light in weight and can be carried by C-130 Hercules. These
features are expected to drive the market of wheeled systems during the
forecast period.
Based on firing
range, the 100-300 km segment is projected to grow at the highest CAGR during
the forecast period.
New systems such
as High Mobile Artillery System (HIMARS) can launch missiles up to 300 km. The
new systems have bigger caliber and can fire both rockets and missiles. The
growing trend of lightweight, highly mobile long range MLRS systems is expected
to drive the 100-300 km range MLRS systems market.
The Europe
multiple launch rocket systems market is estimated to grow at the highest CAGR
during the forecast period.
Europe is
estimated to witness the highest CAGR during the forecast period, owing to the
artillery modernization programs such as HOMAR in Poland. The acquisition of
new systems by countries such as Croatia and Finland are expected to drive the
market of multiple launch rocket system in Europe.
Press Release:
Lockheed Martin Corporation (US), NPO Splav
(Russia), Norinco Group(China), Avibras Indústria Aeroespacial S.A. (Brazil),
Tata SED (India), L&T (India), IMI (Israel), Roketsan (Turkey), Hanwha
Corporation (South Korea), and BAE Systems PLC (UK) are some of the companies
in the multiple launch rocket systems market.
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