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.
Turret Systems Market Leaders
Rheinmetall AG
BAE Systems plc
Elbit Systems Ltd.
Leonardo S.p.A.
General Dynamics Corporation
*Disclaimer: Major Players sorted in no particular order
