How big is the Turret Systems Market?

The Turret Systems Market size is expected to reach USD 20.39 billion in 2024 and grow at a CAGR of 2.76% to reach USD 23.36 billion by 2029. Read More

What is the current Turret Systems Market size?

In 2024, the Turret Systems Market size is expected to reach USD 20.39 billion. Read More

Who are the key players in Turret Systems Market?

Rheinmetall AG, BAE Systems plc, Elbit Systems Ltd., Leonardo S.p.A. and General Dynamics Corporation are the major companies operating in the Turret Systems Market. Read More

Which is the fastest growing region in Turret Systems Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Turret Systems Market?

In 2024, the North America accounts for the largest market share in Turret Systems Market. Read More

What years does this Turret Systems Market cover, and what was the market size in 2023?

In 2023, the Turret Systems Market size was estimated at USD 19.83 billion. The report covers the Turret Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Turret Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Turret Systems Market Share

Statistics for the 2023 & 2024 Turret Systems market share, created by Mordor Intelligence™ Industry Reports. Turret Systems share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Turret Systems Industry

The turret systems market needs to be more cohesive. Some prominent companies in the Turret System market are BAE Systems plc, Leonardo S.p.A., Elbit Systems Ltd., Rheinmetall AG, and General Dynamics Corporation, among others.

Several companies have formed long-term partnerships with the armed forces to upgrade and enhance the turret systems of the militaries. Companies are also investing heavily in research and development to innovate advanced turret systems that may help the militaries have a tactical advantage over the rivals. For instance, in August 2023, the British Army’s AS90 turret training system reached a significant milestone by firing 100,000 simulated rounds. AS90 is procured and supported by UK Defence Equipment & Support (DE&S). DE&S develops operational practices and skill sets for the commander, gunner, and loader of the 155mm self-propelled howitzer.

Similarly, in May 2021, Rheinmetall received a contract worth USD 807 million from the British Ministry of Defence to upgrade the fleet of Challenger 2 main battle tanks (148 units) with the 120mm smoothbore main armament. The contract is expected to run till 2027. Such developments are expected to help the market with the advent of newer technologies during the forecast period.