Turret System Market

Turret System Market by Platform (Land, Airborne, Naval), Type (Manned, Unmanned), Component (Turret Drive, Turret Control System, Stabilization Unit), and Region (North America, Europe, Asia Pacific, Rest of the World) – Global Forecast to 2027

Report Code: AS 5680 Nov, 2022, by marketsandmarkets.com

[250 Pages Report] The turret system market is projected to grow from USD 19.7 billion in 2022 to USD 22.6 billion by 2027, registering a CAGR of 2.8% during the forecast period.

Turret System Market

Turret System Market Forecast to 2027

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Turret System Market dynamics

Driver: Development of modular and scalable turret systems

Turret systems are equipped with multi-mission systems that can be reconfigured to enhance the effectiveness of combat vehicles. These systems have a modular mission payload with an open architecture that can be integrated with other systems to support several operations. The combat vehicles can also be interfaced with third-party payloads such as Remote Weapon System (RWS), interrogation arms, and Reconnaissance, Surveillance, Targeting and Acquisition (RSTA) systems to support combat; chemical, biological, radiological, and nuclear (CBRN) defense; RSTA; and route clearance mission. Turret systems are also equipped with interchangeable weapon systems based on mission requirements. For instance, infantry fighting vehicles can be upgraded with high-caliber weapons and other situational awareness systems to enhance their firepower. The flexibility to install multiple payload systems increases the efficiency of armored vehicles, lowers their lifecycle costs, and reduces soldier workload. Modularity in turret systems has led to the development of new scalable systems that can be easily integrated with other systems.

The demand for autonomous robots is increasing worldwide as they are used for various purposes, including carrying out target acquisition and surveillance operations by defense forces of different countries. Major companies such as Moog Inc. (US), Northrup Grumman Corporation (US), Lockheed Martin Corp. (US), Elbit System (Israel), and Rafael Advanced Defense System Ltd. (Israel) are developing military robots with intelligence, surveillance, reconnaissance (ISR) and target acquisition capabilities.

Restraint: High development cost

New and advanced turret systems require sufficient time, capital, and technical expertise. Developing turret systems with modular designs, increased endurance, and smooth stabilization leads to increased costs. The high costs involved in developing these systems pose a challenge to the growth of the turret system market. In refurbishing existing warfare platforms with modern and advanced turret systems, defense forces do not prefer to spend large amounts of money on modernizing existing military platforms.

Opportunity: Increased adoption of unmanned systems across platforms

The demand for unmanned systems has increased globally in recent years due to their growing use by military forces for carrying out intelligence, surveillance, and reconnaissance (ISR) and combat operations. Furthermore, the declining defense budgets of advanced economies such as the UK, Italy, Spain, Germany, and France have led to the increased procurement of unmanned systems to replace their defense personnel, which use large volumes of equipment and logistic support.

Military forces of various countries are focusing on using unmanned combat ground vehicles on battlefields to reduce casualties, as these vehicles can perform critical and hazardous tasks carried out by warfighters in combat zones. Consequently, the advantages of unmanned combat ground vehicles over manned combat vehicles have increased the adoption by defense forces. For instance, the US Army is procuring unmanned modular infantry systems under its Squad Maneuver Equipment Transport (SMET) program.

Challenges: Hardware and software malfunctions

Autonomous vehicles and systems are prone to hardware and software malfunctions. Even though they are built and designed to withstand harsh situations, they continue to face challenges, such as extreme temperatures, component breakdowns, and software jams, among others. Unmanned armored ground vehicles are controlled by human operators either through tethered modes or operated remotely. In some instances, human operators might lose control of these robots, or robots miscalculate the commands, resulting in ultimate mission failures. Engineers have faced challenges in creating fully autonomous vehicles and systems as this technology is under development.

Land segment to lead turret system market by platform during forecast period

Based on platform, the turret system market has been segmented into land, airborne, and naval. The land segment is likely to grow at the highest CAGR during the forecast period. It is projected to grow from USD 12.0 billion in 2022 to USD 13.9 billion by 2027, registering a CAGR of 2.8%.

Unmanned segment to command turret system market by type during forecast period

Based on type, the turret system market has been segmented into manned and unmanned. The unmanned segment is projected to grow at a higher CAGR than the manned segment, owing to the technological advancements in unmanned turrets, a widely accepted turret weapon system in most countries.

Turret drive segment to dominate turret system market by component during forecast period

Based on component, the turret system market has been segmented into turret drive, turret control system, and stabilization unit. Turret drive is projected to lead the component segment of the turret system market from 2022 to 2027.

North America to acquire largest share during forecast period

Turret System Market by Region

Turret System Market by Region

To know about the assumptions considered for the study, download the pdf brochure

Technology trends

Programmable Ammunition

Programmable ammunition has a twin-ammo-feed design or a multiple-ammo-feed design that enables change in the type of ammunition used. It reduces the complexity of using ammunition and provides flexibility to weapon platforms for firing and interchanging different ammunition. For instance, with programmable ammunition, an artillery gun has the ability to fire shells that can be programmed to explode with pinpoint accuracy before, above, or inside a target. Hitting targets such as UAVs and small drones becomes highly accurate with programmable ammunition. It can be deployed on land and naval warfare platforms against light targets.

Key players

Major companies profiled in the report are Moog Inc. (US), Rafael Advanced Defense System Ltd. (Israel), Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), and Elbit System (Israel), among others. The report covers various industry trends and new technological innovations in the turret system market for 2018–2027.

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Scope of the Report

Report Metric

Details

Market Size Available for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Forecast Units

Value (USD Billion)

Segments Covered

Platform, Type, Component

Geographies Covered

North America, Europe, Asia Pacific, Rest of the World

Companies Covered

Moog Inc. (US), Rafael Advance Defense System Ltd. (Israel), General Dynamics Corporation (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Elbit System (Israel), BAE Systems (UK), among others. (26 Companies)

Turret System Market Highlights

The study categorizes the turret system market based on platform, type, component, and region.

Aspect

Details

By Platform

  • Land
    • Mobile/Vehicular
      • Main Battle Tanks (MBTs)
      • Infantry Fighting Vehicles (IFVs)
      • Armored Personnel Carriers (APCs)
      • Armored Amphibious Vehicles (Agaves)
      • Mine-resistant Ambush Protected (MRAP)
      • Light Protected Vehicles (Laves)
      • Self-propelled Howitzers (Sophos)
      • Air Defense Vehicles
      • Armored Mortar Carriers
      • Unmanned Armored Ground Vehicles
    • Fixed/Stationary
      • Remotely Controlled Weapon System (RAS)
      • Air-Defense Guns
      • Mortars
  • Airborne
    • Attack Helicopters
    • Fighter Aircrafts
    • Special Mission Aircrafts
    • Unmanned Aerial Vehicles (UAVs)
  • Naval
    • Destroyer                               
    • Frigates
    • Offshore Support Vessels (Oosts)
    • Corvettes
    • Patrol & Mine Countermeasure Vessels
    • Amphibious Vessels
    • Submarines
    • Unmanned Surface Vehicles (USAs)

By Component

  • Turret Drive
    • Manual
    • Electric
    • Electro-Mechanical
    • Electro-Hydraulic
  • Turret Control System
    • Motor Controller
    • Power Unit
    • Others
  • Stabilization Unit

By Type

  • Manned
  • Unmanned

Recent developments

  • In September 2022, Elbit Systems was awarded a contract valued at USD 80 million to supply unmanned turrets for Armoured Fighting Vehicles of an Asian-Pacific country. The contract will be performed over three years. Elbit Systems will supply 30mm-gun unmanned light turrets that integrate sensors and display systems for enhanced situational awareness, target acquisition capabilities, fire control systems, and weapon systems of various types, enabling significant mission performance upgrades for the AFVs.
  • In October 2020, ASELSAN signed a new sales contract with the Indonesian Navy for Indonesia’s naval platforms. In the contract, ASELSAN will provide the 30mm SMASH Remote Controlled Stabilized Gun System to the Indonesian Navy.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 INCLUSION AND EXCLUSION
    1.5 CURRENCY & PRICING
    1.6 LIMITATIONS
    1.7 MARKET STAKEHOLDERS
    1.8 SUMMARY OF CHANGES 

2 RESEARCH METHODOLOGY
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
           2.1.1.1 Key secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key primary sources
                    2.1.2.2 Breakdown of primaries
           2.1.3 DEMAND-SIDE INDICATORS
           2.1.4 SUPPLY-SIDE ANALYSIS
    2.2 MARKET SIZE ESTIMATION
    2.3 RESEARCH APPROACH & METHODOLOGY
           2.3.1 BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.5 ASSUMPTIONS
    2.6 RISK

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS
    4.1 ATTRACTIVE MARKET OPPORTUNITIES IN THE TURRET SYSTEM MARKET
    4.2 TURRET SYSTEM MARKET, BY PLATFORM
    4.3 TURRET SYSTEM MARKET, BY TYPE 
    4.4 TURRET SYSTEM MARKET, BY COMPONENT 
    4.5 TURRET SYSTEM MARKET, BY COUNTRY

5 MARKET OVERVIEW
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
           5.2.2 RESTRAINS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 TECHNOLOGY ANALYSIS
    5.4 AVERAGE SELLING PRICE TREND
    5.5 MARKET ECOSYSTEM MAP
    5.6 VALUE CHAIN ANALYSIS
    5.7 PATENT ANALYSIS
    5.8 CASE STUDY ANALYSIS
    5.9 TRADE DATA STATISTICS
    5.10 PORTER’S FIVE FORCES ANALYSIS
    5.11 TARIFF AND REGULATORY LANDSCAPE
           5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.12 KEY STAKEHOLDERS & BUYING CRITERIA
    5.13 CONFERENCES AND EVENTS
    5.14 PRICING ANALYSIS
           5.14.1 AVERAGE SELLING PRICES OF SYSTEMS OFFERED BY KEY PLAYERS
    5.15 OPERATONAL DATA

6 INDUSTRY TRENDS
    6.1 INTRODUCTION
    6.2 TECHNOLOGY TRENDS
    6.3 KEY TREND ANALYSIS
    6.4 IMPACT OF MEGA TRENDS

7 TURRET SYSTEM MARKET, BY PLATFORM
    7.1 INTRODUCTION 
    7.2 LAND 
           7.2.1 MOBILE/VEHICULAR 
                    7.2.2.1 MAIN BATTLE TANKS (MBT)
                    7.2.2.2 INFANTRY FIGHTING VEHICLES (IFV)
                    7.2.2.3 ARMORED PERSONNEL CARRIERS (APC)
                    7.2.2.4 MINE-RESISTANT AMBUSH PROTECTED VEHICLES (MRAP)
                    7.2.2.5 ARMORED AMPHIBIOUS VEHICLES (AAV)
                    7.2.2.6 LIGHT ARMORED VEHICLES (LAV)
                    7.2.2.7 SELF-PROPELLED HOWITZERS (SPHS)                
                    7.2.2.8 AIR DEFENSE VEHICLES                               
                    7.2.2.9 ARMORED MORTAR CARRIERS
           7.2.2 FIXED/STATIONARY 
           7.2.1 REMOTELY CONTROLLED WEAPON STATIONS (RWS)
           7.2.2 AIR-DEFENSE GUNS 
           7.2.3 MORTARS
    7.3 AIRBORNE 
           7.3.1 ATTACK HELICOPTERS
           7.3.2 FIGHTER AIRCRAFTS
           7.3.3 SPECIAL MISSION AIRCRAFTS
           7.3.4 UNMANNED AERIAL VEHICLES (UAVS)
    7.4 NAVAL 
           7.4.1 DESTROYERS
           7.4.2 FRIGATES
           7.4.3 OFFSHORE SUPPORT VESSELS (OSVS)
           7.4.4 CORVETTES
           7.4.5 PATROL & MINE COUNTERMEASURE VESSELS 
           7.4.6 AMPHIBIOUS VESSELS  
           7.4.7 SUBMARINES
           7.4.8 UNMANNED SURFACE VEHICLES (USVS)  

8 TURRET SYSTEM MARKET, BY TYPE 
    8.1 INTRODUCTION 
    8.2 MANNED 
    8.3 UNMANNED   

9 TURRET SYSTEM MARKET, BY COMPONENT  
    9.1 INTRODUCTION 
    9.2 TURRET DRIVE 
           9.2.1 MANUAL 
           9.2.2 ELECTRIC
           9.2.3 ELECTRO-MECHANICAL
           9.2.4 ELECTRO-HYDRAULIC
    9.3 TURRET CONTROL SYSTEM 
           9.3.1  MOTOR CONTROLLER
           9.3.2 POWER UNIT
           9.3.3 OTHERS
    9.4 STABILIZATION UNIT  

10 REGIONAL ANALYSIS
     10.1 INTRODUCTION
     10.2 NORTH AMERICA
             10.2.1 PESTLE ANALYSIS: NORTH AMERICA
             10.2.2 US
             10.2.3 CANADA
     10.3 EUROPE
             10.3.1 PESTLE ANALYSIS: EUROPE
             10.3.2 UK
             10.3.3 FRANCE
             10.3.4 GERMANY
             10.3.5 ITALY
             10.3.6 POLAND
             10.3.7  REST OF EUROPE
     10.4 ASIA-PACIFIC
             10.4.1 PESTLE ANALYSIS: ASIA-PACIFIC
             10.4.2 CHINA
             10.4.3 JAPAN
             10.4.4 INDIA
             10.4.5 AUSTRALIA
             10.4.6 SOUTH KOREA
             10.4.7 SINGAPORE
             10.4.8 REST OF ASIA PACIFIC
     10.5 REST OF THE WORLD
             10.5.1 MIDDLE EAST
             10.5.2 LATIN AMERICA & AFRICA

11 COMPETITIVE LANDSCAPE
     11.1 INTRODUCTION
     11.2 MARKET RANKING ANALYSIS 
     11.3 MARKET SHARE ANALYSIS 
     11.4 COMPANY PRODUCT FOOTPRINT ANALYSIS 
     11.5 COMPANY EVALUATION QUADRANT 
     11.6 SMES/STARTUPS MATRIX
             11.6.1  COMPETITIVE BENCHMARKING
     11.7 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS
     11.8 COMPETITIVE SCENARIO
     11.9 COMPETITIVE LEADERSHIP MAPPING

12 COMPANY PROFILES
     12.1 INTRODUCTION
     12.2 BAE SYSTEMS
     12.3 GENERAL DYNAMICS CORPORATION
     12.4 LEONARDO S.P.A
     12.5 LOCKHEED MARTIN CORPORATION
     12.6 ELBIT SYSTEMS LTD.
     12.7 THALES GROUP
     12.8 MOOG
     12.9 RHEINMETALL AG 
     12.10 OSHKOSH CORP.
     12.11 NORTHROP GRUMMAN CORP.
     12.12 RAYTHEON TECHNOLOGIES
     12.13 TEXTRON INC.
     12.14 DENEL SOC
     12.15 KONGSBERG GRUPPEN
     12.16 OTOKAR
     12.17 WOODWARD INC.
     12.18 CONTROL SOLUTIONS
     12.19 JENOPTIK
     12.20 CMI GROUP
     12.21 CURTISS WRIGHT
     12.22 NEXTER GROUP
     12.23  RAFAEL ADVANCED DEFENSE SYSTEM
     12.24 SAAB AB
     12.25 ST ENGINEERING
     12.26 ASELSAN AS
     12.27 HYUNDAI MOTOR COMPANY

13 APPENDIX
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATION
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current size of the turret system market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary research

The market share of companies offering turret systems was arrived at based on the secondary data available through paid and unpaid sources and by analyzing the product portfolios of major companies and rating them on their performance and quality. In the secondary research process, sources such as government databases; SIPRI; corporate filings, such as annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; articles by recognized authors; and directories and databases were used to identify and collect information for this study.

Secondary research was used to obtain key information about the industry's value and supply chain. It was also used to identify the key players by various products, market classifications, and segmentation according to their offerings. Secondary information helped in understanding different industry trends related to turret system platforms, type, component, and region, as well as key developments from the market and technology-oriented perspectives.

Primary research

In the primary research process, various sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. Primary sources from the supply side included industry experts such as vice presidents (VPs); directors from business development, marketing, and product development/innovation teams; related key executives from systems manufacturers; army personnel; turret system manufacturers; integrators; and key opinion leaders.

Turret System Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market size estimation

The top-down and bottom-up approaches were used to estimate and validate the size of the turret system market. The research methodology used to estimate the market size includes the following details.

Key players in the turret system market were identified through secondary research, and their market share was determined through primary and secondary research. This included a study of the annual and financial reports of the top market players and extensive interviews with leaders such as directors, engineers, marketing executives, and other stakeholders of leading companies operating in the turret system market.

All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data on the turret system market. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.

Turret System Market: Bottom-up approach

Turret System Market Size, and Bottom-up approach

Data triangulation

After arriving at the overall market size, the total market was split into different segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the estimated market numbers for turret system segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. The market size was also validated using the top-down and bottom-up approaches.

Report Objectives

  • To define, describe, segment, and forecast the size of the turret system market based on platform, type, component, and region for the forecast period from 2022 to 2027
  • To forecast the size of the segments of the turret system market with respect to six major regions, including North America, Europe, Asia Pacific, and the Rest of the World, which comprises the Middle East and, Latin America & Africa
  • To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the turret system market
  • To identify the opportunities for stakeholders in the market by identifying key market and technology trends
  • To analyze competitive developments such as contracts, agreements, acquisitions & partnerships, new product launches & developments, and Research & Development (R&D) activities in the turret system market
  • To anticipate the status of the turret system market procurements by different countries, technological advancements, and joint developments by leading players for analyzing the degree of competition in the market
  • To provide a comprehensive competitive landscape of the turret system market, along with an overview of the different strategies adopted by the key market players to strengthen their position in the market

Available customizations

MarketsandMarkets offers the following customizations for this market report:

  • Market sizing and forecast for additional countries
  • Platform and type breakdown at the country level
  • Additional five companies profiling

Product Analysis

  • Product matrix provides a detailed comparison of the product portfolio of each company in the turret system market
Report Code
AS 5680
Published ON
Nov, 2022
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