The modular combat turret market was valued at US$ 2,390.75 million in 2020 and is projected to reach US$ 4,261.51 million by 2028; it is expected to grow at a CAGR of 8.1% during 2021–2028.
The key factor driving the modular combat turret market is the increasing demand for main battle tanks and armored combat vehicles. The increase in warfare is persuading the military forces to opt for advanced defense capability. Due to this, the demand for armored personnel carriers (APC) and light armored vehicles (LAV) is continuously increasing. The rising need for advanced solutions and increasing military budgets year on year are leading to increased attraction for armored vehicles among the military forces.
Another key factor creating demand for armored vehicles is its capability to combat cross-border conflicts. The manufacturers of armored vehicles are using advanced components and technologies such as sensors, modular combat turrets, command, and control systems (C2), countermeasure systems, and fire control systems for their vehicles. Several military forces are procuring armored vehicles in the recent years. For instance, in 2020, BAE Systems secured two new contracts to produce US Army’s Armored Multi-Purpose Vehicle (AMPV) worth US$ 575 million. As the armored vehicles can carry machine guns and rocket launchers, the demand for modular combat turret on armored vehicles is accentuating rapidly. Therefore, this is supporting the growth of the modular combat turret market
Impact of COVID-19 Pandemic on Modular Combat Turret Market
The COVID-19 outbreak has adversely affected the world and is continuing to shatter several countries. Until the outbreak, the defense industry was experiencing substantial growth in terms of production and services. However, the outbreak has disrupted the supply chain and manufacturing of defense equipment. The recovery period of the pandemic impact on the defense industry is foreseen to be quicker as compared to various other industries. This is because various defense forces are awarding contracts for armored vehicles and other equipment to the manufacturers. The production of the equipment is expected to start at a slower pace and is anticipated to gain pace over the years, which is expected to positively influence the defense equipment manufacturing including modular combat turret. This factor would propel the growth of modular combat turret market during the forecast period.
Lucrative Regions in Modular Combat Turret Market
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Market Insights–Modular Combat Turret Market
Rising Military Expenditure
The swift change in modern-day warfare has been urging the governments to allocate higher amounts toward respective military forces. The budget allocated to military helps the military forces to engage themselves in the development of robust indigenous technologies and procurement of advanced weapons, armaments, vehicles, and other equipment from international manufacturers. There is a rise in modernization of soldiers and military vehicles among most of the military forces in order to keep the personnel and vehicles mission ready. With an objective to modernize soldiers and vehicles, the defense ministries across the globe are investing substantial amounts in newer technologies, including modular combat turrets. This factor is boosting the growth of the modular combat turret market. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure rose to US$ 1,917 billion in 2019, which represents 3.6% increase from 2018. The key countries in 2019, which accounted for 62% of expenditure, include the US, China, India, Russia, and Saudi Arabia.
Offerings-Based Insights
Based on offerings, the modular combat turret market is bifurcated into manned turret and unmanned turret. The manned turret segment held a larger market share in 2020.
Platform-Based Insights
Based on platform, the modular combat turret market is segmented into land, naval, and airborne. The land segment is projected to register the highest CAGR during the forecast period.
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Modular Combat Turret Market: Strategic Insights
Market Size Value in US$ 2,390.75 Million in 2020 Market Size Value by US$ 4,261.51 Million by 2028 Growth rate CAGR of 8.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Modular Combat Turret Market: Strategic Insights
Market Size Value in | US$ 2,390.75 Million in 2020 |
Market Size Value by | US$ 4,261.51 Million by 2028 |
Growth rate | CAGR of 8.1% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Speak to AnalystPlayers operating in the modular combat turret market are mainly focused on the development of advanced and efficient products.
- In 2021, The Dutch Defence Materiel Organization (DMO) signed a US$500 million mid-life upgrade contract with BAE Systems for the Royal Netherlands Army's fleet of 122 CV90s, with an option for an additional 19 vehicles.
- In 2020, Curtiss-Wright Corporation announced that it has been awarded a contract by Rheinmetall Defence Australia to supply a turret drive stabilization system for the Australian Army's Project Land 400 Phase 2 Combat Reconnaissance Vehicle (CRV). Curtiss-Wright will supply 133 of its state-of-the-art Turret Drive Servo Systems (TDSS) and related hand controllers to Rheinmetall under the terms of the contract.
The modular combat turret market has been segmented as follows:
Modular Combat Turret Market– by Offerings
- Manned Turret
- Unmanned Turret
Modular Combat Turret Market – by Platform
- Land
- Naval
- Airborne
Modular Combat Turret Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Modular Combat Turret Market–Company Profiles
- BAE Systems
- Control Solution LLC
- Curtiss-Wright Corporation
- Denel Dynamics
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offerings and Platform
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Increasing demand for main battle tanks & armored combat vehicle along with increasing military expenditure is driving the demand for modular combat turret. With an objective to modernize soldiers and vehicles, the defense ministries across the globe are investing substantial amounts in newer technologies, including modular combat turrets. This factor is boosting the growth of the modular combat turret market.
Rising demand for unmanned turret is creating opportunity in the market. 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).
The manned turret segment led the modular combat turret market with a market in 2020. It is majorly considered that two-man turret type is highly beneficial in cases where a commander is inside a vehicle during an operation. Although the weight and height of manned turrets is a demerit, a two-man turret gives advantage to a vehicle commander. For instance, FNSS Savunma Sistemleri A.Åž. provides TEBER-30 Two-Man Turret equipped with advanced technologies in fire control, protection, turret drives, and lethality.
The List of Companies - Modular Combat Turret Market
- BAE Systems
- Control Solution LLC
- Curtiss-Wright Corporation
- Denel Dynamics
- Elbit System Ltd.
- Jenoptik AG
- Leonardo S.P.A
- Moog Inc.
- Otokar Otomotiv ve Savunma Sanayi A.S.
- Rheinmetall AG
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