North America Modular Combat Turret Market

Market Introduction

North American countries have strong military departments, especially the US and Canadian military forces have adopted various advanced technologies to provide soldiers a better version of military products and solutions to protect the nation. Mexico invests ~US$ 5,000 million in defense every year, and thus, it ranks third among the countries with a high number of troops in the world. Mexico has modernized and increased its security capacity to tackle conflicts related to the national security. As per SIPRI, the defense ministry of the US, Canada, and Mexico spent US$ 731,751.4 million, US$ 22,197.6 million, and US$ 6,536.4 million, respectively, in 2019. Rising military spending boosts the adoption of modular combat turrets. Also, rising need for main battle tanks and armored combat vehicles is the major factor driving the North America modular combat turret market.

The ongoing COVID-19 outbreak is having a very devastating impact over North America. The US is the worst-hit country in the region, with thousands of infected individuals facing severe health conditions across the country. The US is the highest military spender across the globe and has a substantial number of defense contractors across its borders. On the contrary, the continuous growth of COVID-19 infected individuals has led the government to impose lockdown across the nation’s borders. Most of the manufacturing plants are either temporarily shut or operating with minimum staff. Also, the supply chain of equipment and related components is disrupted. In addition, the demand for defense equipment is reduced since the outbreak in the country. The supply side shocks are some of the most noticeable effects of the pandemic’s impact on the defense sector. The US have a substantial number of modular combat turret manufacturers. However, the emergence of pandemic has resulted in slower than usual growth in the procurement of new turrets. Due to supply chain delays and disruption caused, the procurement and distribution channel of modular combat turret got impacted. On the contrary, a few companies, such as Moog Inc., experienced a slight deviation in the defense business.   

Market Overview and Dynamics

The modular combat turret market in North America is expected to grow from US$ 1,037.98 million in 2021 to US$ 1,710.87 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028.   A turret is a weapon mount which houses the weapon/crew and allows adjustment of weapon’s orientation. On the other hand, an unmanned turret does not house any crew, it only houses weapons and other supporting systems. Crewmembers that would typically be placed within the turret are either accommodated in the hull (gunner/ commander) or replaced entirely (autoloaders instead of human loaders). Since, the unmanned turret does not have an enclosed space for the crew, the space can be utilized to hold other things, including ammunitions and larger guns. The space can also be eliminated entirely, making the turret much smaller and compact. Unmanned turret can also be situated in an entirely isolated area from the crew members, thereby protecting crew in case of any ammunition explosion in the turret.    

Key Market Segments

The North America modular combat turret market is segmented into type and platform. In terms of type, the North America 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 North America 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 North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BAE Systems, Control Solution LLC, Curtiss-Wright Corporation, Elbit System Ltd., Jenoptik AG, Leonardo S.P.A, Moog Inc., and Rheinmetall AG.

Reasons to buy report

• To understand the North America 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 North America modular combat turret market.
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America modular combat turret market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Modular Combat Turret Market Segmentation

North America Modular Combat Turret Market - By Type

• Manned Turret
• Unmanned Turret

North America Modular Combat Turret Market - By Platform

• Land
• Naval
• Airborne

North America Modular Combat Turret Market - By Country

• US
• Canada
• Mexico

North America Modular Combat Turret Market - Company Profiles

• BAE Systems
• Control Solution LLC
• Curtiss-Wright Corporation
• Elbit System Ltd.
• Jenoptik AG
• Leonardo S.P.A
• Moog Inc.
• Rheinmetall AG

North America Modular Combat Turret Market Strategic Insights

North America Modular Combat Turret Market Segmentation Analysis

North America Modular Combat Turret Market Report Highlights

North America Modular Combat Turret Report Scope

North America Modular Combat Turret Market Country and Regional Insights