Multi-barrel Rocket Launcher Market Forecasts to 2030 - Global Analysis by Launch System Type, Range, Platform, Mobility, Propulsion, Application and By Geography

According to Stratistics MRC, the Global Multi-barrel Rocket Launcher Market is accounted for $2.53 billion in 2024 and is expected to reach $3.61 billion by 2030 growing at a CAGR of 6.1% during the forecast period. A multi-barrel rocket launcher is a type of artillery system that has several barrels that are intended to fire quickly in succession, boosting firepower and coverage. These devices, which are mounted to vehicles for mobility, are used for saturation bombing, which quickly spreads a large amount of explosives over a large region. They are perfect for both offensive and defensive operations in modern warfare because of their versatility, especially when it comes to longer-range targeting of huge formations or fortifications.

Market Dynamics:

Driver:

Rising geopolitical tensions

Geopolitical concerns, especially the continuing conflict between Russia and Ukraine, are driving a boom in the market for multi-barrel rocket launchers. The purchase of rocket launchers is on rise as a result of nations making significant investments in updating their military facilities. Additionally, cross-border tensions in Asia are increasing military readiness, which is driving market expansion. In this unstable climate, several countries are starting to prioritize the need for effective long-range attack capabilities.

Restraint:

High development costs

The complicated technology and upkeep needs of the multi-barrel rocket launcher business increasing the costs. Higher maintenance costs result from the need for experienced workers to operate and maintain these systems. These expenses are further increased by routine calibration and testing for accuracy and dependability. Additionally, the complex components raise the initial cost of purchase, which limits their accessibility for certain defense budgets and may restrict market expansion and armed force adoption.

Opportunity:

Demand for mobility and rapid response

Multi-barrel rocket launchers, which are frequently installed on wheeled or tracked vehicles, give armed troops the capacity to move quickly over a variety of terrains, deploy quickly, and conduct potent strikes in a matter of minutes. By enabling forces to react swiftly to threats or change positions to evade counterattacks, this mobility improves tactical flexibility. These systems are eagerly sought after by defense forces around the world because they are essential for preserving an advantage in dynamic and rapidly changing battlefields.

Threat:

Logistical and operational challenges

The difficulty of transporting these intricate systems, particularly when aiming at difficult-to-reach sites, makes them less desirable than other artillery weapons and complicates deployment. Operational burdens are further increased by the requirement for routine testing and calibration to maintain accuracy. Maintenance requires skilled workers, which raises operating expenses and downtime. Because armed forces must weigh the advantages of multi-barrel rocket launchers against logistical limitations and resource allocation issues, these problems taken together can limit the market's potential for expansion and prevent successful utilization.

Covid-19 Impact

The COVID-19 pandemic has had a notable impact on the multi-barrel rocket launcher market, disrupting supply chains and hindering production capabilities. Research and development efforts were halted by lockdowns and prohibitions on public gatherings, which caused delays in new orders and projects. A lot of governments also cut back on military acquisition as they allocated their defense budgets to immediate economic recovery initiatives. The need for these devices to function was significantly reduced during the epidemic when military drills and exercises were cancelled. However, the market may see new growth after the pandemic as countries start to recover and revaluate their defense requirements.

The towed multi-barrel rocket launcher segment is expected to be the largest during the forecast period

The towed multi-barrel rocket launcher segment is estimated to be the largest, due to their mobility and versatility allow for rapid deployment in various terrains, making them suitable for diverse military operations. Furthermore, improvements in targeting and guidance systems increase their efficacy and accuracy, which appeals to contemporary military tactics that emphasize precision strikes. Additionally, their expanding market acceptance is largely due to the growing emphasis on logistical efficiency and the capacity to support ground forces in dynamic combat circumstances.

The homeland security segment is expected to have the highest CAGR during the forecast period

The homeland security segment is anticipated to witness the highest CAGR during the forecast period, due to the need for improved defense capabilities and growing worries about domestic threats. To maintain national security, governments are giving top priority to investments in innovative military hardware, especially in light of escalating geopolitical tensions and possible terrorist attacks. Multi-barrel rocket launchers are appealing for homeland defense operations due to their adaptability and quick deployment times. Furthermore, the emphasis on reducing collateral damage is in line with developments in precision targeting technology, which encourages their use in national security frameworks.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to rising geopolitical tensions, rising defense spending, and military modernization initiatives in major nations like China, India, and South Korea. The demand for sophisticated artillery systems is being driven by ongoing territorial disputes and the requirement for quick reaction times. Additionally, as countries place a higher priority on independence and improving their defense capabilities to preserve strategic advantages, the region's expanding defense manufacturing industry and domestic production of military technologies are driving market expansion.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period, because of the U.S. military's modernization efforts and large defense budget. The need for sophisticated rocket systems is fuelled by the emphasis on improving artillery capabilities for quick reaction and efficient strike options in a range of combat scenarios. Multi-barrel rocket launchers are crucial parts of North America's defense strategy because of geopolitical problems and changing combat tactics including asymmetric warfare and counterinsurgency, which increase the requirement for adaptable and potent artillery weapons.

Key players in the market

Some of the key players profiled in the Multi-barrel Rocket Launcher Market include Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems, General Dynamics Corporation, Rheinmetall AG, Krauss-Maffei Wegmann (KMW), Hanwha Defense, Elbit Systems, Israel Aerospace Industries, Rostec (Russian Technologies State Corporation), Nexter Systems, Tata Advanced Systems Ltd. (TASL), Larsen & Toubro (L&T) Defense, Denel SOC Ltd, China North Industries Corporation (Norinco), Thales Group, Avibras Industria Aeroespacial S/A, MKEK (Mechanical and Chemical Industry Corporation), IMI Systems and Roketsan A.S.

Key Developments:

In May 2023, The U.S. Army awarded Lockheed Martin Corporation more than USD 800 million contracts for HIMARS and M270 launchers. The agreements on the high mobility artillery rocket system "HIMARS" and the M270 Multiple Launch Rocket System (MLRS) launch vehicle.

In April 2023, The US Army awarded Lockheed Martin Corporation a USD 615 million full production contract to produce additional HIMARS launch vehicles and related equipment. This purchase will expand the U.S. Army's launch vehicle fleet and fulfill orders from international partners, delivering additional precision-fire capabilities to our customers.

In June 2022, Tata Advanced Systems Limited (TASL) and Larsen and Toubro (L&T) jointly handed over the 100th Akash Air Force Launcher (AAFL) to the Indian Air Force, developed jointly with the Indian Air Force Research and Defence Research and Development Organisation (DRDO). The occasion was marked by BHVS Narayana Murthy, DRDO's Director of General Missile Systems and Strategy (DG-MSS) at TASL's Vemagal facility in Karnataka.

Launch System Types Covered:

• Towed Multi-barrel Rocket Launcher
• Self-propelled Multi-barrel Rocket Launcher
• Vehicle-mounted Rocket Launcher
• Other Launch System Types

Ranges Covered:

• Short-range MBRL (up to 20 km)
• Medium-range MBRL (20-40 km)
• Long-range MBRL (above 40 km)

Platforms Covered:

• Land-based MBRL
• Naval-based MBRL
• Airborne MBRL
• Other Platforms

Mobility Covered:

• Stationary MBRL
• Mobile MBRL
• Other Mobilities

Propulsions Covered:

• Solid Fuel Rocket Propulsion
• Hybrid Propulsion
• Other Propulsions

Applications Covered:

• Military & Defense
• Homeland Security
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances