Major companies profiled in turret system market report include MOOG (US), Jenoptik (Germany), Otokar (Turkey), Control Solution (US), Curtiss-Wright (US), Lockheed Martin (US), Elbit Systems (Israel), Woodward (US), Bae Systems (UK), Rheinmetall (Germany),CMI Group (Belgium),and others.
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The turret system market is projected to grow from USD 1.94 Billion in 2016 to USD 2.88 Billion by 2022, at a CAGR of 6.86% during the forecast period. This report covers the forecast of the turret system market and its dynamics over the next five years, while also recognizing market application gaps, recent developments in the market, and high potential countries.
2 Mapping of Military Radars
3 Key Industry & Technology Trends
4 Solid-State Modules
5 Advanced Materials
6 Synthetic Aperture Radars
7 Lightweight Radars
8 Electronically Scanned Array Radars
9 Polarimetric Radars
10 Dual Band Radars
11 Innovations and Patent Registrations
The turret system market has been analyzed primarily on the basis of platform (land, naval, airborne), type (manned, unmanned), and component (turret drive, turret control unit, stabilization unit) from 2017 to 2022, considering 2016 as the base year.
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The research methodology that has been used to estimate and forecast the turret system market begins with capturing data about the key turret system through secondary sources such as the US Department of Defense (DoD), the US Air Force website, company websites, corporate filings, such as annual reports, investor presentations, and paid databases. Different types of turret system offered were taken into consideration to determine the market segmentation.
2 Technological Trends in the Turret System Market
3 Turret Drive Servo System (TDSS) Technology
4 Hybrid Power Systems
5 Improved Electro mechanical Actuators
6 Integrated Turret Systems
7 Advanced Control Software
8 Innovations & Patent Registrations
The turret system market has been segmented into land, naval, and airborne. The land segment is projected to grow at the highest CAGR during the forecast period.
This growth can be attributed to the fact that turrets are widely adopted on various land warfare vehicles, such as tanks, AFVs, LPVs, and others. The number of turret system in the defense sector has increased considerably in the past few years, mainly driven by the high number of new modular turret manufactured worldwide.
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The turret system market in Asia Pacific is expected to exhibit the highest growth during the forecast period. A key driver of the turret system market in the Asia Pacific region is the continuous upgrade of warfare platforms.
China, India, and South Korea are the major countries that are investing in turret system and related technologies.
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