Global Multiple Launch Rocket Systems Market Size to Exceed USD 1295.3 Million by 2033: Forecast Analysis Report

Global Multiple Launch Rocket Systems Market Size to Exceed USD 1295.3 Million by 2033 

According to a research report published by Spherical Insights & Consulting, The Global Multiple Launch Rocket Systems Market Size Expected to Grow from USD 735.3 Million in 2023 to USD 1295.3 Million by 2033, at a CAGR of 5.83% during the forecast period 2023-2033.   

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Multiple Launch Rocket Systems Market Size, Share, and COVID-19 Impact Analysis, By Launch Vehicle (Tracked and Wheeled), By Caliber Type (70-180 mm and 180-300mm), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Rare metallic alloys are used in the construction of multiple-launch rocket systems to offer the barrels with extra rigidity. It is now possible to launch numerous rockets and endure the shock with the least amount of recoil velocity because of the presence of a robust barrel. The global military industry has boosted its need for multiple-launch rocket systems as a result of the short time intervals between consecutive firings. Additionally, the employment of multibarrel rocket launch systems has increased as a result of the significance of rockets and the growing need to fire numerous rockets simultaneously in order to increase the devastation of enemy bases. Multiple-launch rocket systems are pieces of equipment that can precisely fire several rockets at once. The global market for multiple-launch rocket systems has expanded as a result of the defense forces' increased demand for weapon systems with the greatest destructive potential. However, this is primarily due to the high cost of maintaining barrels so they are ready for firing.

The wheeled segment is expected to hold a significant market share through the forecast period.                              

Based on the launch vehicle, the global multiple launch rocket systems market is categorized as tracked and wheeled. Among these, the wheeled segment is expected to hold a significant market share through the forecast period. Wheeled systems are less expensive to maintain than tracked systems. Component wear and tear is reduced, and maintenance and repairs are typically simpler and less expensive.

The 70-180 mm segment is expected to grow at the fastest CAGR during the projected timeframe.         

Based on the caliber type, the global multiple launch rocket systems market is categorized as 70-180 mm and 180-300mm. Among these, the 70-180 mm segment is expected to grow at the fastest CAGR during the projected timeframe. The 70–180 mm caliber range is adaptable and provides a balance between mobility, payload capacity, and range. Numerous armed forces find these weapons appealing since they may be used for a range of tasks, from closer support to longer-range bombardment.

North America is projected to hold the largest share of the global multiple launch rocket systems market over the projected timeframe.

North America is projected to hold the largest share of the global multiple launch rocket systems market over the projected timeframe. The market for multiple launch rocket systems is still dominated by North America because of its substantial military investments and vast defense infrastructure. In order to preserve strategic superiority, the US Department of Defense has made significant investments in cutting-edge missile systems. To illustrate the region's dedication to enhancing its missile capabilities, Lockheed Martin, for example, announced a new deal with the US Army in August 2024 to supply next-generation rocket systems.

Asia-Pacific is projected to grow at the fastest CAGR growth of the global multiple launch rocket systems market during the forecast period. Increased defense spending, regional unrest, and modernization initiatives are the main drivers of this development. Research and government programs support this upward trajectory. Increased regional investment was indicated in July 2024 when India's Ministry of Defence unveiled a new defense procurement strategy intended to boost indigenous production of sophisticated rocket systems.

Company Profiling

Major vendors in the global multiple launch rocket systems market areIMI Systems Ltd., Hanwha Corporation, Diehl Defense GmbH & Co. KG, L & T Ltd., Avibras Industria Aeroespacial A/S, Safran Group, Norinco Group, BAE Systems PLC, The Tata Power Company Ltd., Northrop Grumman, Denel Land Systems, NPO Splav, Roketsan AS, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development

• In October 2024, Poland's WB Electronics and South Korea's Hanwha Aerospace worked together to manufacture missiles for the Homar-K multiple launch rocket system (MLRS).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global multiple launch rocket systems market based on the below-mentioned segments: 

Global Multiple Launch Rocket Systems Market, By Launch Vehicle

• Tracked
• Wheeled

Global Multiple Launch Rocket Systems Market, By Caliber Type

• 70-180 mm
• 180-300mm

Global Multiple Launch Rocket Systems Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa