IMARC Group's report titled "Multiple Launch Rocket Systems (MLRS) Market Report by Launch Vehicle (Tracked, Wheeled), Caliber Type (70-180 mm, 180-300 mm), Range (10-100 km, 100-300 km), Pod Capacity (Upto 16, More Than 16), and Region 2024-2032". The global multiple launch rocket systems market size reached US$ 732.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,240.4 Million by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/multiple-launch-rocket-systems-market/requestsample

Factors Affecting the Growth of the Multiple Launch Rocket Systems Industry:

• Increasing Defense Spending:

As countries are allocating more funds to their defense budgets, they have greater financial capacity to expand their arsenals with advanced weaponry like MLRS. This not only includes purchasing new systems but also upgrading existing ones with the latest technology. Increasing defense spending often includes specific budgets for the modernization of military equipment. For MLRS, modernization might involve enhancements in rocket accuracy, range, and payload capabilities, as well as improvements in fire control and communication technologies of systems.

• Technological Advancements:

Advancements in propulsion and guidance technologies are extending the range and accuracy of MLRS. Modern systems can strike targets at greater distances with higher precision, reducing collateral damage and increasing their tactical utility in conflict zones. The development of smart munitions is transforming MLRS, making them capable of executing more complex attack patterns and engaging moving targets with high precision. These munitions can adapt their behavior based on battlefield conditions, increasing hit rates and effectiveness against a variety of target types.

• Need for Rapid Deployment and High Mobility:

MLRS are designed for swift deployment to the battlefield, allowing military forces to quickly react to threats or strategic opportunities. This rapid response capability is crucial in high-tempo operations and surprise engagements, where the first to strike often gains a significant advantage. The mobility of MLRS enables forces to relocate these systems swiftly across various terrains, which is vital for maintaining operational flexibility. High mobility allows MLRS units to avoid enemy counterattacks, reposition for strategic advantage, and support advancing troops with sustained artillery cover.

Leading Companies Operating in the Global Multiple Launch Rocket Systems (MLRS) Industry:

• Avibrás Indústria Aeroespacial
• BAE Systems Plc
• Denel Land Systems (Denel SOC Ltd.)
• Diehl Defence GmbH & Co. KG (Diehl Stiftung & Co. KG)
• Hanwha Corporation
• IMI Systems Ltd. (Elbit Systems Ltd.)
• Larsen & Toubro Limited
• Lockheed Martin Corporation
• Roketsan Roket Sanayii ve Ticaret A.S.
• Tata Advanced Systems Limited (Tata Sons Private Limited)