North America Modular Combat Turret Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Platform

North America Modular Combat Turret Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Platform

  • June 2021 •
  • 112 pages •
  • Report ID: 6103272 •
  • Format: PDF
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. 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 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 to keep the personnel and vehicles mission ready. With an objective to modernize soldiers and vehicles, the defense ministries across North America are investing substantial amounts in newer technologies, including modular combat turrets. This factor is boosting the growth of the modular combat turret market in the region. Additionally, rising need for main battle tanks and armored combat vehicles is among the other factors expected to fuel the demand for modular combat turrets in North America during the forecast period.
Based on type, the manned turret segment led the North America modular combat turret 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.?. provides TEBER-30 Two-Man Turret equipped with advanced technologies in fire control, protection, turret drives, and lethality. The TEBER-30 two-man turret can be fixed on wheeled & tracked armored vehicles. It is built with a capability to work all day & night under any battle environments and every weather conditions. Also, both commander and gunner can control the functions of the turret. Similarly, BAE Systems offers Hägglund E35 turret. The Patria AMV is an 8×8 multi-role military vehicle manufactured by a Finnish company—Patria. The vehicle is armed with BAE Hägglund E35 turret developed for Hägglund CV9035 tracked AFV. Over 600 of these turrets are operational with land forces of six nations. Therefore, increase in demand for manned turrets from armies to combat threat while protecting nation’s border would boost the development of manned turrets.
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.
The overall North America modular combat turret market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the North America modular combat turret market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America modular combat turret market. BAE Systems, Control Solution LLC, Curtiss-Wright Corporation, Elbit System Ltd., Jenoptik AG, Leonardo S.P.A, Moog Inc., and Rheinmetall AG are among the key players operating in the market.

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