North America 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
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.
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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
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. North America 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. North America Modular Combat Turret–Market Dynamics
5.1 Market Drivers
5.1.1 Rising Need for Main Battle Tanks and Armored Combat Vehicles
5.1.2 Surging Military Expenditure
5.2 Market Restraints
5.2.1 Reliability and Maintenance Related Problems in Modular Combat Turrets
5.3 Market Opportunities
5.3.1 Growing Demand for Unmanned Turrets
5.4 Impact Analysis of Drivers and Restraints
6. Modular Combat Turret Market – North America Analysis
6.1 North America Modular Combat Turret Market Overview
6.1.1 North America Modular Combat Turret Market, Revenue and Forecast to 2028 (US$ Million)
7. North America Modular Combat Turret Market – By Type
7.1 Overview
7.2 North America 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. North America Modular Combat Turret Market Analysis By Platform
8.1 Overview
8.2 North America 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. North America Modular Combat Turret Market – Country Analysis
9.1 Overview
9.1.1 North America Modular Combat Turret Market Breakdown, by Country
9.1.1.1 US Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.1.1 US Modular Combat Turret Market Breakdown, by Type
9.1.1.1.2 US Modular Combat Turret Market Breakdown, by Platform
9.1.1.2 Canada Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.2.1 Canada Modular Combat Turret Market Breakdown, by Type
9.1.1.2.2 Canada Modular Combat Turret Market Breakdown, by Platform
9.1.1.3 Mexico Modular Combat Turret Market, Revenue and Forecast to 2028
9.1.1.3.1 Mexico Modular Combat Turret Market Breakdown, by Type
9.1.1.3.2 Mexico Modular Combat Turret Market Breakdown, by Platform
10. Impact of COVID-19 Pandemic on North America Modular Combat Turret Market
10.1 North America
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 Control Solutions LLC
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 Curtiss-Wright Corporation
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 Elbit Systems Ltd.
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 Jenoptik AG
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 Leonardo S.p.A.
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 Moog Inc.
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. North America Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Modular Combat Turret Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. US Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 4. US Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 5. Canada Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. Canada Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 7. Mexico Modular Combat Turret Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 8. Mexico Modular Combat Turret Market, by Platform – Revenue and Forecast to 2028 (USD Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Modular Combat Turret Market Segmentation
Figure 2. North America Modular Combat Turret Market Segmentation – By Country
Figure 3. North America 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. US held Largest Market Share in 2020
Figure 7. Porter’s Five Forces Analysis
Figure 8. Expert Opinion
Figure 9. North America Modular Combat Turret Market Impact Analysis of Drivers and Restraints
Figure 10. North America Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Modular Combat Turret Market Revenue Share, by Type (2020 & 2028)
Figure 12. North America Manned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Unmanned Turret: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Modular Combat Turret Market Revenue Share, by Platform (2020 & 2028)
Figure 15. North America Land: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Naval: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Airborne: Modular Combat Turret Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Modular Combat Turret Market, by Key Country-Revenue 2020 (US$ Million)
Figure 19. North America Modular Combat Turret Market Breakdown, by Country, 2020 & 2028 (%)
Figure 20. US Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 21. Canada Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 22. Mexico Modular Combat Turret Market, Revenue and Forecast, 2018–2028 (US$ Million)
Figure 23. Impact of COVID-19 Pandemic in North America Country Markets
- BAE Systems
- Control Solution LLC
- Curtiss-Wright Corporation
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Rheinmetall AG
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