Multiple Launch Rocket Systems (MLRS) Market Size, Share and Growth Report 2024-2032

Summary:

• The global multiple launch rocket systems market size reached USD 732.3 Million in 2023.
• The market is expected to reach USD 1,240.4 Million by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2024-2032.
• North America leads the market, accounting for the largest multiple launch rocket systems (MLRS) market share.
• Wheeled accounts for the majority of the market share in the launch vehicle segment due to its superior mobility and ease of deployment over rugged terrains.
• 70-180 mm holds the largest share in the multiple launch rocket systems (MLRS) industry.
• 100-300 km remains a dominant segment in the market, driven by its capability to strike targets at notable distances with precision.
• Upto 16 represents the leading pod capacity segment.
• The growing focus on border security is a primary driver of the multiple launch rocket systems (MLRS) market.
• Technological advancements in precision, range, and mobility and the rising adoption in counterterrorism operations are reshaping the multiple launch rocket systems (MLRS) market.

Industry Trends and Drivers:

• Increasing focus on border security:

With rising concerns over cross-border infiltration, terrorism, and smuggling, many countries are improving their border security measures. Multiple launch rocket systems (MLRS) are emerging as a critical component in border defense strategies due to their ability to engage multiple targets quickly and effectively. Nations with vast and porous borders are investing heavily in these systems to enhance their ability to deter potential threats. MLRS units offer rapid-fire capabilities, which are particularly useful in large, open border areas where quick responses are crucial to halting intrusions or defending against large-scale attacks. The deployment of these systems along borders acts as a powerful deterrent, driving investments in advanced MLRS to enhance national security.

• Technological advancements in precision, range, and mobility:

Modern MLRS are equipped with longer-range capabilities, enhanced propulsion systems, and advanced targeting technologies that allow for more precise strikes with minimal collateral damage. These improvements are encouraging the adoption of MLRS as they become highly sophisticated in their operational capabilities. Smart munitions, guided rockets, and integration with real-time battlefield management systems are transforming MLRS into a critical asset in network-centric warfare. The systems are able to execute precision strikes against high-value targets from safe distances, reducing the risks for troops. Furthermore, the mobility of newer MLRS is improved, allowing for rapid deployment and repositioning on the battlefield. These technological breakthroughs are not only enhancing the appeal of MLRS but also encouraging military forces to replace older, less efficient systems.

• Adoption in counterterrorism operations:

The rise in terrorism and insurgent activities is placing a focus on versatile, high-precision artillery systems like MLRS, which are being adopted for counterterrorism missions. Modern MLRS are equipped with smart munitions and guided rockets that allow for precision strikes, making them ideal for targeting terrorist camps, insurgent hideouts, and other high-value targets in remote areas. Their ability to operate in various terrains, including mountains, deserts, and urban environments, makes them highly effective in counterinsurgency operations. Nations involved in ongoing counterterrorism efforts are deploying MLRS for both defensive and offensive operations. The ability to quickly neutralize threats with minimal risk to personnel is a key factor encouraging the adoption of MLRS in these missions.