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 forecast 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.
Major market players in Turret System Industry are BAE Systems PLC, Leonardo S.P.A., Woodward Inc., Elbit Systems Ltd., Rheinmetall AG, Curtiss-Wright Corporation, CMI Group, Denel Vehicle Systems, Jenoptik AG, Otokar Otomotiv ve Savunma Sanayi A, Moog Inc., and 10 more companies detailed information is provided in the report. Rising research and development expenses to cater changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Turret System Industry:
Rising security and defense technology systems across the globe
High production and maintenance cost
Implementation of modern technology in military and defence
The complications in the combination of Turret System with others
The major shares of the Industry come from manned turret type in Global Turret System Industry. On the other side, Land, by platform for this Industry is expected to grow at highest CAGR during the year 2019-2025. As Turrets are currently used more in land warfare vehicles.
Turret System Industry Segmentation:
• Turret Control Unit
• Turret Drive
• Stabilization Unit
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa