North America Modular Combat Turret Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Manned Turret and Unmanned Turret) and Platform (Land, Naval, and Airborne)

Manned Turret Segment to Dominate North America Modular Combat Turret Market during 2020-2028

According to this research study titled “North America Modular Combat Turret Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and Platform,” the market is expected to reach US$ 1,710.87 million by 2028 from US$ 1,037.98 million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report provides trends prevailing in the North America modular combat turret market along with the drivers and restraints pertaining to the market growth. Rising need for main battle tanks and armored combat vehicles is the major factor driving the growth of the North America modular combat turret market. However, issues associated with reliability and maintenance in modular combat turrets hinders the growth of North America modular combat turret market.

The North America modular combat turret market is segmented into type and platform. In terms of type, the North America modular combat turret market is bifurcated into manned turret and unmanned turret. The manned turret segment held a substantial market share in 2020. Based on platform, the North America modular combat turret market is categorized into land, naval, and airborne. The land segment held a substantial market share in 2020.

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.

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 leading companies in the North America modular combat turret market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Moog Inc. is planning to offer a lighter version of its reconfigurable integrated-weapons platform (RIwP) to the US Marine Corp after its initial offering was deemed too heavy for the Joint Light Tactical Vehicle (JLTV).

The report segments the North America Modular Combat Turret Market as follows:

North America Modular Combat Turret Market - By Type

• Manned Turret
• Unmanned Turret

North America Modular Combat Turret Market - By Platform

• Land
• Naval
• Airborne

North America Modular Combat Turret Market - By Country

• US
• Canada
• Mexico