Global Turret System Market is Estimated to Reach $3.2 Billion by 2025, Says Accurize Market Research
Global Turret System Market report published by Accurize Market Research forecast that the global market is expected to reach $3.2 billion by 2025; growing at a CAGR of 6.9% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increased demand for military modernization across various countries to drive the growth of the market
Rising incidences of asymmetric warfare and military forces of different countries worldwide are constantly enhancing their combat capabilities by acquiring armored platforms equipped with advanced turret systems fuel the demand for the global turret system market. Furthermore, increased demand of ongoing military modernization programs across the globe also boosts the growth of the market.
Market Segmentation
The global turret system market has been bifurcated on the basis of platform, component, type and geography. Based on platform, the turret system market has been segmented into land, naval, and airborne. The component segment is further bifurcated into turret drive, turret control unit and stabilization unit. Based on type, the turret system market is segmented into manned turret and unmanned turret.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, and others. RoW covers South America, Middle East and Africa.
Top players in the market
The key market players include Moog, Jenoptik, Otokar, Control Solutions, Elbit Systems, CMI Group, Rheinmetall, Bae Systems, Curtiss-Wright, Woodward, Denel Vehicle Systems and Leonardo Spa, among others.
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