PUBLISHER: Grand View Research | PRODUCT CODE: 1554013
PUBLISHER: Grand View Research | PRODUCT CODE: 1554013
The global turret system market size was estimated at USD 19.87 billion in 2023 and is expected to grow at a CAGR of 2.8% from 2024 to 2030. Turret systems are essential components of armored vehicles, providing platforms for mounting and operating weapons. Numerous factors, such as increased defense spending, technological advancements, and growing emphasis on situational awareness, drive market growth.
Growing geopolitical tensions and the need to modernize military arsenals drive substantial investments in defense technologies, including turret systems. The need for improved situational awareness on the battlefield drives the development of turret systems equipped with advanced sensors and targeting capabilities. Moreover, innovations in areas such as sensor fusion, AI, and automation are enhancing the capabilities of turret systems, making them more effective and efficient.
Turret systems come with multi-mission capabilities, allowing for customization to boost the performance of combat vehicles. They feature a modular mission package built on an open architecture, facilitating integration with additional systems for a variety of operations. Combat vehicles can further connect with external payloads like the Remote Weapon System (RWS), interrogation devices, and Reconnaissance, Surveillance, Targeting, and Acquisition (RSTA) technologies to assist in combat, chemical, biological, radiological, and nuclear (CBRN) defense, RSTA, and route clearing tasks.
Turret systems offer the flexibility to swap weapon systems according to the specific needs of a mission. For instance, infantry fighting vehicles can be outfitted with heavier weapons and advanced situational awareness tools to increase combat effectiveness. The capability to accommodate various payload systems not only improves the operational effectiveness of armored vehicles but also significantly cuts down their life cycle expenses and lightens the burden on soldiers. The modularity of turret systems has spurred the creation of adaptable new systems that seamlessly integrate with existing ones.
Global Turret Systems Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global turret system market report based on platform, type, component, and region.