Asia-Pacific Modular Combat Turret Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Manned Turret and Unmanned Turret) and Platform (Land, Naval, and Airborne)
Market Introduction
The presence of developing economies such as China, India, South Korea, Malaysia, the Philippines, and Taiwan helps make Asia a developing nation. Growth in economies and technological advancement supports the growth of diversified industries and markets, including military, in the continent. India, China, South Korea, and Japan are among the major countries with greater military strength in the region. These countries invest huge resources in the military operations, which allows them to deploy advanced systems and technologies, including modular combat. Furthermore, China, India, Japan, South Korea, and Australia allocated US$ 261,081.9 million, US$ 71,125 million, US$ 47,609 million, US$ 43,890.9 million, and US$ 25,912.4 million, respectively, in 2019, to strengthen their military operations. The Asian countries are expected to witness rise in the penetration of modular combat products in the coming years owing to the ongoing territorial disputes between several Southeast Asian countries and China. Also, unmanned turrets are getting popular is the major factor driving the APAC modular combat turret market.
The COVID-19 outbreak has resulted in a massive financial loss in APAC. The governments in Asia Pacific countries are taking possible steps to reduce its effects by announcing lockdown, which is negatively affecting the manufacturing sector. China is one of the leading defense manufacturing countries in APAC, and the most affected country in the region. Therefore, there are disruptions in the defense equipment manufacturing facilities across the region. India, another major defense spender in APAC, is heavily hit by the COVID-19 outbreak. The country’s manufacturing sector experienced standstill situation owing to the lockdown restrictions imposed by the government in the wake of containing the spread of the novel coronavirus. However, disordered supply chain has negatively influenced the procurement of defense equipment, including modular combat turret, since the late February 2021.
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Market Overview and Dynamics
The modular combat turret market in APAC is expected to grow from US$ 482.36 million in 2021 to US$ 968.37 million by 2028; it is estimated to grow at a CAGR of 10.5% from 2021 to 2028. Defense organization across the APAC have been testing unmanned turrets for years. Also, according to Leonardo officials, the demand for unmanned turrets have been on the rise in the recent years. The rise in demand is especially since, the unmanned turrets are lighter in weight which meets the specifications of the armored vehicle manufacturer’s demands. Moreover, according to weapon systems and core engineering manager of FNSS, the unmanned turrets are becoming the preferred choice for the medium-calibre segment, especially in the 30mm and 40mm categories. Thus, these facts highlight the modular combat turret market is anticipated to be driven by the increasing adoption of unmanned turrets.
Key Market Segments
The APAC modular combat turret market is segmented into type and platform. In terms of type, the APAC modular combat turret market is bifurcated into manned turret and unmanned turret. The manned turret segment held a substantial market share in 2020. Based on platform, the APAC modular combat turret market is categorized into land, naval, and airborne. The land segment held a substantial market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the modular combat turret market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BAE Systems, Curtiss-Wright Corporation, Elbit System Ltd., Jenoptik AG, Leonardo S.P.A, Moog Inc., Otokar Otomotiv ve Savunma Sanayi A.S, and Rheinmetall AG.
Reasons to buy report
- To understand the APAC modular combat turret market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC modular combat turret market.
- Efficiently plan M&A and partnership deals in APAC modular combat turret market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC modular combat turret market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC Modular Combat Turret Market Segmentation
APAC Modular Combat Turret Market - By Type
- Manned Turret
- Unmanned Turret
APAC Modular Combat Turret Market - By Platform
- Land
- Naval
- Airborne
APAC Modular Combat Turret Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Modular Combat Turret Market - Company Profiles
- BAE Systems
- Curtiss-Wright Corporation
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Modular Combat Turret Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Modular Combat Turret–Market Dynamics
5.1 Market Drivers
5.1.1 Main Battle Tanks and Armored Combat Vehicles Becoming More Important
5.1.2 Defense Expenses Rising
5.2 Market Restraints
5.2.1 Various Malfunctioning Issues in Modular Combat Turrets
5.3 Market Opportunities
5.3.1 Unmanned Turrets Getting Popular
5.4 Future Trends
5.4.1 Enhancement or Replacement of Older or Present Fleet
5.5 Impact Analysis of Drivers and Restraints
6. Modular Combat Turret Market – APAC Analysis
6.1 APAC Modular Combat Turret Market Overview
6.1.1 APAC Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
7. APAC Modular Combat Turret Market – By Type
7.1 Overview
7.2 APAC Modular Combat Turret Market, by Type (2020 & 2028)
7.3 Manned Turret
7.3.1 Overview
7.3.2 Manned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Unmanned Turret
7.4.1 Overview
7.4.2 Unmanned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Modular Combat Turret Market Analysis – By Platform
8.1 Overview
8.2 APAC Modular Combat Turret Market, By Platform (2020 & 2028)
8.3 Land
8.3.1 Overview
8.3.2 Land: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Naval
8.4.1 Overview
8.4.2 Naval: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Airborne
8.5.1 Overview
8.5.2 Airborne: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Modular Combat Turret Market – Country Analysis
9.1 Overview
9.1.1 APAC Modular Combat Turret Market, by Key Country - Revenue 2020 (US$ Million)
9.1.2 APAC Modular Combat Turret Market Breakdown, by Country
9.1.2.1 China Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.1 China Modular Combat Turret Market Breakdown, by Type
9.1.2.1.2 China Modular Combat Turret Market Breakdown, by Platform
9.1.2.2 Japan Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.1 Japan Modular Combat Turret Market Breakdown, by Type
9.1.2.2.2 Japan Modular Combat Turret Market Breakdown, by Platform
9.1.2.3 India Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.1 India Modular Combat Turret Market Breakdown, by Type
9.1.2.3.2 India Modular Combat Turret Market Breakdown, by Platform
9.1.2.4 South Korea Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.4.1 South Korea Modular Combat Turret Market Breakdown, by Type
9.1.2.4.2 South Korea Modular Combat Turret Market Breakdown, by Platform
9.1.2.5 Australia Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.5.1 Australia Modular Combat Turret Market Breakdown, by Type
9.1.2.5.2 Australia Modular Combat Turret Market Breakdown, by Platform
9.1.2.6 Rest of APAC Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
9.1.2.6.1 Rest of APAC Modular Combat Turret Market Breakdown, by Type
9.1.2.6.2 Rest of APAC Modular Combat Turret Market Breakdown, by Platform
10. Impact of COVID-19 Pandemic on APAC Modular Combat Turret Market
10.1 APAC
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profile
12.1 BAE Systems plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Curtiss-Wright Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Elbit Systems Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Jenoptik AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Leonardo S.p.A.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Moog Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Otokar Otomotiv ve Savunma Sanayi A.S.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Rheinmetall AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Modular Combat Turret Market, Revenue and Forecast To 2028 – By Country (US$ Million)
Table 3. China Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 4. China Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 5. Japan Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 6. Japan Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 7. India Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 8. India Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 9. South Korea Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 10. South Korea Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 11. Australia Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 12. Australia Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 13. Rest of APAC Modular Combat Turret Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 14. Rest of APAC Modular Combat Turret Market, Revenue and Forecast to 2028 – By Platform (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Modular Combat Turret Market Segmentation
Figure 2. APAC Modular Combat Turret Market Segmentation – By Country
Figure 3. APAC Modular Combat Turret Market Overview
Figure 4. Manned Turret Segment is Expected to Dominate the Market by Type
Figure 5. Land Segment held Largest Market Share in 2020
Figure 6. China held Largest Market Share in 2020
Figure 7. Porter’s Five Forces Analysis
Figure 8. Expert Opinion
Figure 9. APAC Modular Combat Turret Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. APAC Modular Combat Turret Market Revenue Share, by Type (2020 & 2028)
Figure 12. APAC Manned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Unmanned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Modular Combat Turret Market Revenue Share, by Platform (2020 & 2028)
Figure 15. APAC Land: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Naval: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Airborne: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Modular Combat Turret Market Breakdown, by Country, 2020 & 2028 (%)
Figure 19. China Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 20. Japan Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 21. India Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 22. South Korea Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 23. Australia Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 24. Rest of APAC Modular Combat Turret Market, Revenue and Forecast To 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic in APAC Country Markets
- BAE Systems
- Curtiss-Wright Corporation
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
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