Global Turret System Industry was valued at USD 2 Billion in the year 2017. Global Turret System Industry is further estimated to grow at a CAGR of 7.7% from 2019 to reach USD 3.76 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecasted period. At country level China, Japan and India are projected to grow at a strongly in the coming years, due to the conflicts between nations and growing terrorism.
The manned turret system segment is projected to share significant growth in the global turret system market during the forecast period. The manned turret system will remain to dominate the market owing to it provides self-protection, ground fire support, and aggressive capabilities to the warship with an optimal balance between situational consciousness and crew protection capabilities.
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Turret System Industry Segmentation:
By Platform
• Land
• Stationary
• Vehicle
• Airborne
• Naval
By Component
• Turret Control Unit
• Turret Drive
• Stabilization Unit
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By Type
• Manned
• Unmanned
The North America region is projected to lead the global turret system market during the forecast period. In North America, the US is measuredas the largest contributor to the global turret system market for turret system. The growth in the market is attributed to the technological advancements and increasing incidences of armed conflicts or war against terrorism. The US is one of the chief manufacturers and end users of turret system across the globe owing to the threats traditional by the country and its involvement in the war against terrorism in Syria, Iraq, and Afghanistan. The acceptance of turret system delivers superior assistance to the troops and helps them in numerous military applications.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of some of the leading manufacturers such as JENOPTIK, CMI Group, ST Engineering, Woodward, Nexter, MOOG, O’Gara-Hess &EisenhardtArmoring Company, Otokar, Curtiss-Wright, Elbit Systems, Control Solutions,Rheinmetall,Bae Systems,Denel Vehicle Systems,Lockheed Martin, Leonardo S.P.A. and Rafael Advanced Defense Systems Ltd.
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