Tracked Multiple Rocket Systems Market Outlook - 2027
Multiple rocket system is a type of rocket artillery system with advance capabilities. In multiple rocket system, rockets are of larger size and can carry heavier payloads, compared to artillery systems. Although rocket systems were highly inaccurate & slow when compared to artillery. Such issue has been resolved with the emergence of guided multiple rocket systems. Guided multiple rocket system uses GPS or internal guidance to improve its accuracy while hitting the targets. The multiple launch rocket system is a versatile weapon system which supplements traditional cannon artillery fires by delivery of large volume of firepower in a very short time against critical and time sensitive targets. Such targets include enemy artillery, air defense systems, mechanized units, and personnel. Moreover, multiple rocket systems are cost effective and also require less maintenance as compared to rocket artillery systems.
COVID-19 Scenario analysis:
- Due to COVID-19 situation, the research & development in tracked multiple rocket systems companies across the globe has been hampered because of the declared lockdowns and government restrictions on public gatherings.
- As governments spending shift towards economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for tracked multiple rocket systems.
- Business development possibility of tracked multiple rocket system companies has been adversely affected due to overall shortage in demand of defense equipment due to COVID-19 pandemic.
- Production rate of tracked multiple rocket systems making companies have been affected adversely due to COVID-19 situation.
- Cancellation of several military exercises between nations and reduction in military activities worldwide due to COVID-19, has been impacting adversely to tracked multiple rocket systems market as demand of relevant spare parts is also low.
- Post COVID-19, multiple rocket systems market can see a significant growth as several countries have either already ordered or planning to procure advance tracked multiple rocket systems for their forces as a part of defense modernization plan.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Growing territorial disputes, artillery modernization programs, acquisition of new multiple rocket launch systems, and increase in defense budgets of emerging economies are the factors that drive the growth of the global tracked multiple rocket system market. However, less accuracy in deliver of rockets to a target may hamper the growth of multiple rocket system market. Although technological advancements in the multiple rocket systems such as development of guided multiple launch rocket will be opportunistic for the growth of tracked multiple rocket systems market.
Acquisition of new tracked multiple rocket launch systems
Territorial disputes with other countries have led the increase in procurement of multiple rocket systems, which can be used to counter enemy forces at a rapid rate. Moreover, tracked multiple rocket system provides better safety for troops due to its armor. In addition, tracked rocket system can be used in difficult terrain as compared to wheeled rocket system. Therefore, due to its versatile & robust nature, the militaries are procuring tracked multiple rocket systems; thereby, driving the growth of the tracked multiple rocket system market.
Key benefits of the report:
- This study presents the analytical depiction of the global tracked multiple rocket systems industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global tracked multiple rocket systems market share.
- The current market is quantitatively analyzed to highlight the global tracked multiple rocket systems market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global tracked multiple rocket systems market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the multiple rocket systems market research report:
- Which are the leading market players active in the global tracked multiple rocket systems market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Tracked Multiple Rocket Systems Market Report Highlights
By Pod Capacity
Key Market Players
NORINCOGROUP.com Inc., IMI Systems, NPO Splav, Hanwha Corporation, ROKETSAN, Lockheed Martin Corporation, BAE Systems, LARSEN & TOUBRO, Tata Power SED, Avibras Indústria Aeroespacial S/A.