PUBLISHER: The Business Research Company | PRODUCT CODE: 1760190
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760190
Multiple launch rocket systems (MLRS) are sophisticated artillery platforms capable of launching several rockets in quick succession. They are engineered to deliver substantial firepower across expansive areas, making them highly effective in contemporary combat scenarios. MLRS units are typically mounted on either tracked or wheeled vehicles to ensure mobility and are employed in both offensive and defensive roles. These systems are integral to a nation's defense production capabilities, combining advanced engineering and cutting-edge technology.
The primary types of multiple launch rocket systems include wheeled and tracked variants. Wheeled MLRS are artillery systems mounted on wheeled platforms, offering high mobility, rapid deployment, and flexible fire support across varied terrains. MLRS systems are categorized by range into short-range, medium-range, and long-range, with caliber classifications including 70-180 millimeters, 180-300 millimeters, and above 300 millimeters. These platforms serve a range of applications such as national defense, homeland security, and other strategic operations.
The multiple launch rocket systems market research report is one of a series of new reports from The Business Research Company that provides multiple launch rocket systems market statistics, including multiple launch rocket systems industry global market size, regional shares, competitors with a multiple launch rocket systems market share, multiple launch rocket systems market segments, market trends, and opportunities, and any further data you may need to thrive in the multiple launch rocket systems industry. This multiple launch rocket systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The multiple launch rocket systems market size has grown strongly in recent years. It will grow from $1.01 billion in 2024 to $1.08 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. Growth during the historical period can be linked to escalating geopolitical tensions, an increase in cross-border conflicts, the expansion of modernization initiatives, a surge in asymmetric warfare, and a rise in joint military exercises.
The multiple launch rocket systems market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. Projected growth in the forecast period is driven by greater demand for precision-guided munitions, higher defense budgets, the increasing adoption of AI and autonomous targeting systems, and the need for rapid-deployment weapon systems. Key trends anticipated during this period include a transition toward modular and multi-caliber systems, the integration of advanced targeting and guidance technologies, the expansion of unmanned and remotely operated MLRS platforms, a focus on interoperability among allied forces, and an emphasis on developing lighter, more mobile systems.
The rise in military expenditure is expected to drive the growth of the multiple launch rocket systems market. Military expenditure refers to the financial resources a country allocates for its armed forces, defense operations, and related activities. The increase in military spending is largely influenced by growing geopolitical tensions, prompting nations to allocate more funds to defense in response to perceived threats, regional conflicts, and the need to bolster national security and deterrence capabilities. This spending plays a crucial role in the development and deployment of multiple launch rocket systems by funding advanced artillery technologies that enhance long-range precision, battlefield effectiveness, and overall force readiness. For example, in April 2024, the Stockholm International Peace Research Institute (SIPRI) reported that global military spending reached \$2,443 billion in 2023, a 6.8% increase from the previous year. As a result, the growing military expenditure is driving the expansion of the multiple launch rocket systems market.
Companies in the multiple launch rocket systems market are increasingly focusing on developing cutting-edge fire control technologies to improve targeting accuracy and operational efficiency. These advanced systems, including infrared (IR) targeting, enhance the performance of MLRS by enabling precise detection, tracking, and engagement of targets, even under low-visibility conditions. For example, in July 2022, Lockheed Martin Corporation, a U.S.-based aerospace and defense company, introduced the upgraded M270A2 MLRS. This system features enhanced fire control capabilities, integrating advanced technologies such as improved fire control systems, IR targeting sensors, and a more powerful engine. These upgrades allow the M270A2 to detect, track, and engage targets with greater precision, even in challenging conditions. The system's advancements ensure superior performance in both conventional and joint operations, reinforcing its reliability and effectiveness in combat scenarios.
In December 2022, Elbit Systems Ltd., an Israel-based defense contractor, partnered with Krauss-Maffei Wegmann (KMW), a German defense manufacturer, to develop the Euro-PULS, a modernized European rocket artillery system. This collaboration aims to enhance the capabilities of multiple launch rocket systems, focusing on the Euro-PULS concept, which integrates advanced launching systems and precision-guided munitions. KMW specializes in producing advanced military systems, including armored vehicles, artillery, and rocket launchers, and this partnership aims to modernize and improve the effectiveness of European rocket artillery.
Major players in the multiple launch rocket systems market are The Boeing Company, Lockheed Martin Corporation, China North Industries Group Corporation Limited, General Dynamics Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, Larsen & Toubro Limited, L3Harris Technologies Inc., Leonardo Societa per azioni, Thales S.A., Rheinmetall AG, Elbit Systems Ltd., Hanwha Aerospace Co. Ltd., PT Pindad, Saab Aktiebolag, Denel SOC Ltd, Tata Advanced Systems Limited, Firefly Aerospace Inc., Arnold Defense and Electronics LLC, and Solar Industries India Limited.
North America was the largest region in the multiple launch rocket systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the multiple launch rocket systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The multiple launch rocket systems market consists of sales of rocket launchers, guided and unguided rockets, fire control systems, and associated support equipment. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multiple Launch Rocket Systems Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multiple launch rocket systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multiple launch rocket systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multiple launch rocket systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.