Modular Combat Turret Market Research Insights with Upcoming Trends Segmentation, Opportunities and Forecast to 2028

The "Modular Combat Turret Market Forecast to 2027" is a specialized and in-depth study of the industry with special focus on the global market trend analysis.

NEW YORK, UNITED STATES, UNITED STATES, January 30, 2023 / -- The Latest research report study on “Modular Combat Turret Market Size, Global Analysis and Forecast to 2028” the market was valued at US$ 2,390.75 million in 2020 and it is projected to reach US$ 4,261.51 million by 2028; it is expected to grow at a CAGR of 8.1% from 2021 to 2028.

The key factor driving the modular combat turret market is the increasing demand for main battle tanks and armored combat vehicles. The increase in warfare is persuading the military forces to opt for advanced defense capability. Due to this, the demand for armored personnel carriers (APC) and light armored vehicles (LAV) is continuously increasing. The rising need for advanced solutions and increasing military budgets year on year are leading to increased attraction for armored vehicles among the military forces.

Rising Demand for Unmanned Turrets to Provide Growth Opportunities for Modular Combat Turret Market during 2021–2028: Rising demand for unmanned turret is creating opportunity in the market. an unmanned turret does not house any crew, it only houses weapons and other supporting systems. Crewmembers that would typically be placed within the turret are either accommodated in the hull (gunner/ commander) or replaced entirely (autoloaders instead of human loaders).

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BAE Systems, Control Solution LLC, Curtiss-Wright Corporation, Denel Dynamics, Elbit System Ltd., Jenoptik AG, Leonardo S.P.A, Moog Inc., Otokar Otomotiv ve Savunma Sanayi A.S., Rheinmetall AG are among the few Key Companies that are discussed in the modular combat turret market report study.

The modular combat turret market is segmented on the basis of offerings, platform, and geography. Based on offerings, the modular combat turret market is bifurcated into manned turret and unmanned turret. The manned turret segment represented a larger share of the overall market in 2020. In terms of platform, the modular combat turret market is segmented into land, naval, and airborne. In 2020, the land segment accounted for the substantial share of the market. Geographically, North America held the largest share of the modular combat turret market in 2020, followed by Europe and Asia Pacific. Further, the modular combat turret market in Asia Pacific is projected to witness the highest growth rate during the forecast period.

Increasing demand for main battle tanks & armored combat vehicle along with increasing military expenditure is driving the demand for modular combat turret. With an objective to modernize soldiers and vehicles, the defense ministries across the globe are investing substantial amounts in newer technologies, including modular combat turrets. This factor is boosting the growth of the modular combat turret market.

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Another key factor creating demand for armored vehicles is its capability to combat cross-border conflicts. The manufacturers of armored vehicles are using advanced components and technologies such as sensors, modular combat turrets, command, and control systems (C2), countermeasure systems, and fire control systems for their vehicles. Several military forces are procuring armored vehicles in the recent years. For instance, in 2020, BAE Systems secured two new contracts to produce US Army’s Armored Multi-Purpose Vehicle (AMPV) worth US$ 575 million. As the armored vehicles can carry machine guns and rocket launchers, the demand for modular combat turret on armored vehicles is accentuating rapidly. Therefore, this is supporting the growth of the modular combat turret market.

Players operating in the modular combat turret market are mainly focused on the development of advanced and efficient products.
– In 2021, The Dutch Defence Materiel Organization (DMO) signed a US$500 million mid-life upgrade contract with BAE Systems for the Royal Netherlands Army’s fleet of 122 CV90s, with an option for an additional 19 vehicles.
– In 2020, Curtiss-Wright Corporation announced that it has been awarded a contract by Rheinmetall Defence Australia to supply a turret drive stabilization system for the Australian Army’s Project Land 400 Phase 2 Combat Reconnaissance Vehicle (CRV). Curtiss-Wright will supply 133 of its state-of-the-art Turret Drive Servo Systems (TDSS) and related hand controllers to Rheinmetall under the terms of the contract.

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