Turret System

Turret System

Global Turret Systems Market to Reach $2.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Turret Systems estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.1 Billion by 2027, growing at a CAGR of 4.1% over the analysis period 2020-2027. Land, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$1.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Naval segment is readjusted to a revised 3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $460.5 Million, While China is Forecast to Grow at 3.7% CAGR

The Turret Systems market in the U.S. is estimated at US$460.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$370.9 Million by the year 2027 trailing a CAGR of 3.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.

Airborne Segment to Record 2% CAGR

In the global Airborne segment, USA, Canada, Japan, China and Europe will drive the 2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$148.6 Million in the year 2020 will reach a projected size of US$171.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 44 Featured) -

• BAE Systems PLC
• CMI
• Control Solutions Inc.
• Curtiss-Wright Corporation
• Denel Vehicle Systems
• Elbit Systems Ltd.
• Jenoptik AG
• Leonardo SpA
• Moog, Inc.
• Otokar Otomotiv ve Savunma Sanayi AS
• Rheinmetall AG
• Woodward, Inc.

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