Global Multiple Launch Rocket Systems Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities

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How Big Is the Multiple Launch Rocket Systems Market Size Expected to Be by 2034?
The market size for multiple launch rocket systems has seen robust growth in recent years. It is projected to grow from $1.01 billion in 2024 to $1.08 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.8%. Factors contributing to the growth during the historical period include heightened geopolitical tensions, a rise in cross-border disputes, an escalation in modernisation programmes, an increase in asymmetric warfare, and the expansion of joint military exercises.

Anticipations are high for a robust growth in the multiple launch rocket systems market over the next couple of years. The projected valuation of the market by 2029 is around $1.45 billion, with a compound annual growth rate (CAGR) of around 7.6%. The growth trajectory during the forecast period can be attributed to the increasing demand for precision-guided munitions, escalated defense budgets, the rising acceptance of AI and autonomous targeting systems, and the expanding requirement for speedy-deployment weapon systems. Noteworthy trends during the estimated period include a transformation towards modular and multi-caliber systems, the amalgamation of advanced targeting and guidance technologies, growth of unmanned and remote-operated MLRS platforms, a concentration on interoperability within allied forces, and an emphasis on more lightweight, highly mobile systems.

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What Are the Emerging Segments Within the Multiple Launch Rocket Systems Market?
The multiple launch rocket systems market covered in this report is segmented -

1) By Type: Wheeled, Tracked
2) By Range: Short Range, Medium Range, Long Range
3) By Caliber: 70-180 Millimeters, 180-300 Millimeters, Above 300 Millimeters
4) By Application: National Defense, Homeland Security, Other Applications

Subsegments:
1) Wheeled: 4x4 Wheeled Multiple Launch Rocket Systems (MLRS), 6x6 Wheeled Multiple Launch Rocket Systems (MLRS), 8x8 Wheeled Multiple Launch Rocket Systems (MLRS)
2) Tracked: Light Tracked Multiple Launch Rocket Systems (MLRS), Medium Tracked Multiple Launch Rocket Systems (MLRS), Heavy Tracked Multiple Launch Rocket Systems (MLRS)

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What Long-Term Drivers Are Shaping Multiple Launch Rocket Systems Market Trends?
The surge in military spending is anticipated to drive the expansion of the multiple launch rocket systems market in the future. Military spending is defined as the sum allocated by a nation for the upkeep and equipping of its military forces, defense actions, and other associated activities. The escalation in military spending is largely influenced by growing geopolitical conflicts, causing nations to assign more resources to defense as they respond to perceived threats, regional clashes, and the need to enhance national security and deterrent abilities. The progression and employment of multiple launch rocket systems are facilitated by military spending through backing advanced artillery technologies that enhance long-range precision, battlefield productivity, and overall troop readiness. For instance, as per the Stockholm International Peace Research Institute (SIPRI), a research institute based in Sweden, the total global military expenditure amounted to $2,443 billion in 2023, a real-term increase of 6.8% from 2022. Consequently, the surge in military spending is propelling the expansion of the multiple launch rocket systems market.

Who Are the Top Competitors in Key Multiple Launch Rocket Systems Market Segments?
Major companies operating 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 Società 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, Solar Industries India Limited.

What Multiple Launch Rocket Systems Market Trends Are Gaining Traction Across Different Segments?
Leading companies involved in the multiple launch rocket systems sector are concentrating on developing fresh, innovative solutions such as cutting-edge fire control technologies to boost targeting precision and operational efficiency. These advanced fire control systems, including infrared (IR) systems, augment multiple launch rocket systems (MLRS) by enabling accurate target identification, tracking, and engagement even under poor-visibility situations, thereby enhancing overall accuracy and operational effectiveness. For instance, in July 2022, Lockheed Martin Corporation, an American aerospace and defense company, introduced the upgraded M270A2 multiple launch rocket system with enhanced fire control abilities to increase targeting accuracy and operational effectiveness. The advanced system integrates sophisticated technologies like a better fire control system, infrared (IR) targeting sensors, and a stronger engine, allowing for improved target detection, tracking, and engagement, even in difficult low-visibility scenarios. These improvements deliver superior performance for both conventional and joint operations, ensuring the system's dependability and efficiency in combat situations.

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Which Regions Are Becoming Hubs for Multiple Launch Rocket Systems Market Innovation?
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 the multiple launch rocket systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Multiple Launch Rocket Systems Market?
2. What is the CAGR expected in the Multiple Launch Rocket Systems Market?
3. What Are the Key Innovations Transforming the Multiple Launch Rocket Systems Industry?
4. Which Region Is Leading the Multiple Launch Rocket Systems Market?

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