Turret System Market

Long-Term Contracts and New Product Launches are Among the Key Strategies Adopted by the Leading Players to Strengthen Their Growth in the Turret System Market

The turret system market is led by MOOG (US), Jenoptik (Germany), Otokar (Turkey), Control Solutions (US), Elbit Systems (Israel), and CMI Group (Belgium). These companies are expected to continue their dominance till 2022

Contracts and new product launches are the key strategies adopted by

Contracts and new product launches are the key strategies adopted by the players to grow in the turret system market. Contracts accounted for a share of 68% of the total growth strategies adopted by the turret system market players from 2014 to 2017. New product launches accounted for a share of 16% of the total growth strategies during the same.

Top two players of the turret system market

MOOG is a major player in the turret system market. The company focuses on contracts with the defense forces of different countries and is carrying out extensive R&D activities for turret systems. The company is heavily investing in its R&D activities. MOOG INC. has a comprehensive product portfolio that consists of various types of turret systems for land, airborne, and naval platforms. The company focuses on both, organic as well as inorganic growth strategies to enhance its position in the turret system market. For instance, in 2016, Moog Space and Defense Group, a subsidiary of MOOG, developed and tested the Reconfigurable Integrated-weapons Platform (RIWP) for new build tracked and wheeled Armored Fighting Vehicles (AFVs) to enhance their firepower capabilities. The company also received a contract in 2016 to supply advanced turret systems to support FNSS (Turkey) who is the sole provider of turret drive system and other equipment for the SABER- 25 Turret Program

JENOPTIK develops tried and tested products and systems level for a variety of military applications. It has become one of the largest defense contractors in Germany. It has adopted various organic growth strategies to enhance its position in the turret system market. It generates the majority of its revenue through long-term contracts with the European government. For instance, in March 2017, the company received a contract from the government of Poland to supply 126 electric turret and weapon stabilization systems for its Leopard 2 tank.

It is also important to note that there are other companies such as Elbit Systems Ltd. (Israel), CMI Group (Belgium), Bae Systems (UK), Rheinmetall (Germany), and Curtiss-Wright (US) which have made a significant contribution to the overall turret system market. These companies are expected to witness significant growth in the coming years, owing to strategies of long-term contracts and new product launches adopted by them in the recent years.  

Related Reports:

Turret System Market by Platform (Land, Naval, Airborne), Type (Manned, Unmanned), Component (Turret Drive, Turret Control Unit, Stabilization Control), and Region - Global Forecast to 2022

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Report Code
AS 5680
Published ON
Oct, 2017
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