Turret System Market, By Platform Armored Fighting Vehicles RegionPosted by Akshata Sharma on November 25th, 2019 New York, NY , Nov-25, 2019 /(Aerospace NEWS)-- The turret system market is projected to grow from USD 1.94 Billion in 2016 to USD 2.88 Billion by 2022, at a CAGR of 6.86% during the forecast period. This report covers the forecast of the turret system market and its dynamics over the next five years, while also recognizing market application gaps, recent developments in the market, and high potential countries. The turret system market has been analyzed primarily on the basis of platform (land, naval, airborne), type (manned, unmanned), and component (turret drive, turret control unit, stabilization unit) from 2017 to 2022, considering 2016 as the base year. The ecosystem of the turret system market comprises OEMs, integrators, and end users. The key end-user of the turret system market is the defense sector. Technology providers in the turret system market are Curtiss-Wright (US), Lockheed Martin (US), Woodward (US), Elbit Systems (Israel), Control Solution (US), and others. Based on platform, the turret system market has been segmented into land, naval, and airborne. The land segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the fact that turrets are widely adopted on various land warfare vehicles, such as tanks, AFVs, LPVs, and others. The number of turret system in the defense sector has increased considerably in the past few years, mainly driven by the high number of new modular turret manufactured worldwide. Military forces widely adopt these modular turret systems and this modular mechanical and electronic architecture of turret systems enables them to accommodate a wide variety of mission systems and sensors. Based on type, the turret system market is led by the manned turret segment. However, the unmanned turret segment is expected to grow at a high CAGR during the forecast period. The adoption of unmanned turret systems has increased among defense forces as these systems can be deployed on a variety of warfare platforms, such as new range of Mine-Resistant Ambush Protected (MRAPs) military vehicles and Light Protected Vehicles (LPVs), and others. The turret system market in Asia Pacific is expected to exhibit the highest growth during the forecast period. A key driver of the turret system market in the Asia Pacific region is the continuous upgrade of warfare platforms. China, India, and South Korea are the major countries that are investing in turret system and related technologies. Download PDF https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33751132 Contact: Like it? Share it! More by this author |