The global turret system market is expected to grow at a CAGR of nearly 6.9% during the forecast period (2024-2031). The key factors contributing to the growth of the global turret system market include rising modernization in the military and increasing demand for turret gun systems in the military. Additionally, the rising demand for the unmanned aerial vehicle will propel the growth of the market.
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The turret technology utilizes bearing technology to allow a vessel to rotate around the turret’s geostatic component. Depending on the hull construction of the vessel, the turret system can be connected to the interior or exterior region. Turret systems can be employed on land, in the water, or the air. They can be manned or unmanned, and they feature some of the most fundamental and essential components, including the turret motor, stabilization unit, and turret control unit.
The key players contributing to the growth of the global turret system market by adopting various strategies such as product launches and developments, mergers and acquisition, partnerships, and agreements, include MOOG Inc., Jenoptik AG, Otokar Automotive and Defense Industry Inc., Control Solutions Inc., Curtiss-Wright Corporation, among others. For instance, in October 2020, Leonardo announced the expansion of its naval turret portfolio with the introduction of Lionfish, a new advanced remotely-controlled small-caliber turret system intended for small to large naval vessels.
The new technologically innovative human-machine interface systems are simple to operate, minimizing crew training time, and the architectural solutions used to provide great dependability and minimal maintenance times. The turrets’ remote operates through a local control console, as well as the suite of Leonardo’s state-of-the-art electro-optical sensors that they are equipped with and allow for extremely precise target identification both at night and during the day.
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Market Coverage
- Segment Covered-
o By Platform
o By Type
o By Solution
- Competitive Landscape- MOOG Inc., Jenoptik AG, Otokar Automotive and Defense Industry Inc., Control Solutions Inc., Curtiss-Wright Corporation, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Turret System Market- Segmentation
By Platform
- Land
o Vehicle
- Armored Fighting Vehicles (AFV)
- Light Protected Vehicles (LPV)
- Tanks
- Others
o Stationary
- Naval
o Corvettes
o Destroyers
o Frigates
o Offshore Patrol Vessels (OPV)
o Others
- Airborne
o Helicopters
o Combat Support Aircraft
o Unmanned Aerial Vehicles (UAV)
By Type
- Manned Turret
- Unmanned Turret
By Component
- Turret Drive
o Manual
o Electric
o Electro-Mechanical
o Electro-Hydraulic
- Turret Control Unit
o Motor Controller
o Power Unit
o Others
- Stabilization Unit
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